Member Info for wizard125

Miss Elly

Unfortunately there is no drilling taking place yet either.

We have to be patient & wait for the next two drills to start in April.

That I can see Penguins.

But oil wells are valued on there reserves which will remain in place unless extracted but if UKOG remain as the operator & produce the oil there is large value to add which will fuel UKOG growth & pay dividends.

I am sure that UKOG would also derive an income from the not operator companies ( Tellurian, Alba & Dorimus) for there work producing the oil.

You can dispute many things & even the CPR's are updated as more information or comes to light.

Every investor must take a view based on there calculations which could be better or worse even I they at a shorter.

Let's see what the CPR has to say.

Penguins

I see you are back with misinformation.

The oil recovered is at spot price - costs approx $18 over 20 years seem my post below.

The value price is the price of oil in the ground not recovered value.

The average Portland production over 20 years based on 10 million barrels recoverable with 3 producing wells is about 460 BOPD including depletion.

Bagofsand

Have a word Rodney as Delboy what a plonker!

The CPR will come anyway adding value which can be used to borrow against.
But for those advocating a sale of HH the value would be of recoverable oil in the ground not 3-4 times what it will be worth by extracting the oil as the operator over the next 20 years.

The other thing to remember is that with the technical advances over the next 20 years that value could increase significantly with the increase in recoverability and UKOG as the owner operator will benifit significantly.

Bagofsand

From SS interviews the value was based on the recoverable oil in the ground & can be used as a pool of money in the ground to borrow against.

eg. Portland 30 million barrels / 10 million barrels recoverable at £15 -18 per barrel £150-180 million value

But 10 million barrels oil recovered at $70 per barrel - $18 per barrel costs = $52 per barrel × 10,000,000 = £520 million net profit from the Portland alone.

Who said that SS was a geologist not a businessman?

That is why SS wanted to become a operating company & the operator of Horse hill.

The value of oil in the ground is £15 - 18 per barrel but out of the ground after cost will give $50 which would you prefer?

What you seem to have forgotten is that once we start to have reserves in the ground they can be used to finance the next multiple drills which are already in the pipeline creating greater reserves & fueling growth.

Oakleaf

It could be that they restrict the flow to these level as we have seen from the Kimmeridge 440 BOPD day after day without depletion from a vertical well.

It may sound like ramping but what is 440 BOPD ×2 or ×3 for the sidetrack.

As SS has said he has not made these numbers up.

Well said Rodders74.

It does just go to show how Conservative SS has been with his figures. He says that he targets 700/1000 BOPD per well & 3500 BOPD total from 6 wells but to achieve this 6 well producing 600 BOPD will more than meet this target.

If 1000 BOPD per well or more was achieved this would beat least 6000 BOPD & UKOG will have storage for 9000 barrels of oil on site apart from the daily tankers.

Based on SS Currant modus operandi I can see him looking to buy out Tellurian to give UKOG a 85%+ stake in the HH licence like he has done on the IOW but I think we will need a CPR first with some reserves to borrow against & development leeway or without the extra % he may slow things down as operator at HH while developing 100% UKOG assets with the available revenues. Coming back to a rollout of HH sites later.

Tony13579

I think Tankers out full, Successful planning for HH, CPR & Good figures will be a great end of March should the directors take up there options that would be a major bonus but if I remember correctly they were extended until the end of 2019 when we should be in production from HH 1 & 2.

All in all lots of potential for 2019/20/21. IMO.

Reserves not reserved sorry.

Adding value is reserved £15-18 per barrel of oil in the ground
This will allow borrowing from banks etc. Preventing the need for dilution to fund work programs.
At the moment UKOG has no debt over its assets as it has so far been funded by shareholders. At the point of having reserves & no debt & cash in the bank we should see a major re rate Imo.

Why are SCC down as objecting can anyone see the reasons or comments for there objections?

I have registered my support & received it acceptance but it is not on the list on the website.

On the currant page 23 of supporters & objectors Surrey County Council are down as objecting does anyone know why & does this also include the planning officers?

MRPlumper

Sometimes the many have to owe the few for the greater good.

There are many examples throughout the history of our country of both large and small.

I have had to endure at least one such planning situation.

There are sometimes sacrifices to be made.

This application will in reality not affect many people apart from there principles which in this case they do not have control over & there pride which may get dented for standing up for there principles.

MRPlumper

What you seem to forget is the importance of this application, the implications & ramifications from this go far beyond Surrey itself

Looking at the drill or drop report on Dunsfield.
They state that UKOG has a commitment with the OGA to drill Godley Bridge by the 31 December 2019.This is despite UKOG's presentation plans for 2020 who is right?

I am pleased for Angus that the BOD has gone this route it has to be better than the YA nightmare.
No finance is cheap but those conversions are of another planet.
Gl.