Member Info for wizard125

Oakleaf

I though it strange as well.

I also wandered why there is 2 Portland wells & 4 Kimmeridge wells when they said that they needed 3 to drain the Portland which is only at HH.

I was wandering if they may be able to put another well pad on the HH site for the other Portland well & 5 more Kimmeridge wells back to back from KL4 & the second water injection well that was discussed with the scoping document as there appears plenty of free land there on the diagram if it is possible I do not know but 500 tons of oil oil per day is over 86,000 barrels of oil per day if my research was correct as to how many barrels of oil was in one ton × 500.

They are planning for oil storage of nearly 10,000 barrels oil in this application but is there more to come?

The new Motley Fool article from Rupert Hargreaves is a bit more positive but still very poorly researched saying that UKOG has 4 billion shares & may need to raise more funds if they can not get finance other sources eg. Banks.

They do not seem to know what is happening with the EWT apart from the commercial declaration of the Portland.

No real interest or research from this company to even look at RNS's before writing article's that are incorrect which give false information to investors.

If this was a company doing this about themselves they would be strung up.

We live & learn.

A big thank you to the eyes for all the support that you have provided to investors & interested parties over the last year.

It has brought our investments to life making them very real, bringing them into phones, tablets, computers & homes with great updates.

I wish all LTH a very happy Christmas & a very prosperous 2019 / 20 / 21 & many more years to come.

I hope this is the turning point has been looking for to help drive it forward to greatness.

Scandic

Read the RNS 16 APRIL 2018 from UKOG BOD on warrants & Options it is just for you & your continuous belly aching on this subject.

If you don't like it move on.

Idiot of the decade award goes to querty59.

From the interview it all seems to be going very well at HH, Arreton & PEDL 234 & the 9 wells planned for drilling in 2019 \ 20.

One of my major questions that this interview did not touch on was the roll out from HH with other sites within the HH licence but there are plenty of wells to drill at HH first but I think that the market needs to get the message.

At some point I think that there I'll need to be an expansion of the stucture at UKOG to manage & deal with with the different sites delegating responsibility & reporting back.

This is when the real growth will take place when multiple projects are able to be managed & ongoing simultaneously & self funding driving UKOG forward.

At the moment it is still what comes first the chicken or the egg, but that is what happens in the early stages especially when it has been financed by Pi's but I am sure the rewards will come.

UKOG down 8%

Angus down nearly 16%

I think that SS is a step or 2 ahead at the moment as we are all waiting for the HH news SS is purchasing Solo's share of PEDL 331 giving UKOG a 95% holding in the licence.

I believe we are not to far away from more news on the IOW now as if the plans have been made & costed before being submitted for planning permission, Solo will not have wanted to pay the 35% of the costs hence the value in the sale to UKOG.

$17-20 as quoted by SS in his interview.

$17-20 per barrel costs.

A lot cheaper than offshore.

Maybe we will have a oil tanker convoy & RNS for Christmas.

Sorry Sageman that was Re: your 9.32 post.

Sageman

I think you are spot on.

Would it be worth an email to UKOG or HHDL to ask about these points.

I was hoping that our new non executive director who was previously the finance director at Hurricane & Total would be pointing UKOG in the right direction with these issues but we are unaware of his brief.

Sageman

I'm not sure about the Portland as they have said HH contains 30 million barrel's oil in the Portland.

HH1 connected with 7 - 11 million barrels of oil hence the need for 3 well to drain the Portland.

I am not sure that there was a Portland layer at BB.

There is talk of a Portland gas layer at Godley Bridge but they don't seem to be targeting a Portland layer at Brockam.

SS has said that the IOW Portland is 4× the size of HH.

Sageman

That sounds good but I presume the new sites would need to be sourced, negotiated & financed as well as the site at HH is limited in size.

If I remember correctly they said that they could only put 6 wells on a pad.

HH being different with the extra 3 Portland wells & injector wells.

Thanks Sageman

That helps clarify my 14.02 post.

The only major question it will leave will be one of finance as for a growth project of this magnitude over 3 years one well paying for the next is not the most commercially effective way.

How do you think this will be achieved?

Gah-Newbie

At there value of just over 1/2p per share does not take into consideration the declared value of the Portland or as SS said any value for the Kimmeridge which you can see flowing & has commercial declarations.

So when the CPR is released we should see a major re rate imo.

Sorry the valuation they say per share is 0.055p

JTTALV

The Fools valuation was 0.55p a bit bazar but if you consider what Sageman has said it ay be more understandable.

Apart from the other assets he values HH at £46 million he has omitted to say that there are already 2 commercial declarations from the EWT with the Portland alone being valued at £150 - 200 Million by SS, KL3 being declared commercial & the last RNS saying that there are 3 commercial layers at HH.

He is able to make his ridiculous claim as the CPR has not yet been completed giving the oil in place for the Kimmeridge & reserves figures for HH.

The key question I have to as myself when I read this type of biased reporting is why?

The main anser that I can come up with is another question.

Are Hargeves & Landsdown the who write the Motley Fool shorting the shares that there in the nominated accounts.

I am not saying they are but with all the speculation that is going on here about shorting & the number of shares they hold in nominee accounts is this possible?

Sorry if that is a little unclear please follow this link to the RNS.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=UKOG&ArticleCode=jhgobb34&ArticleHeadline=Exercise_Grant__Amendment_of_Options_or_Warrants

Cont...

Due to publication of the Company's Annual Accounts on 29/03/2018, the Directors were deemed to be insiders (as defined in the Criminal Justice Act 1993 and the Financial Services and Markets Act 2000) and were prevented from exercising these options under the provisions of UKOG's Share Dealing Code. In such an event and as noted in the Company's RNS on 09/01/2018, the exercise period is deemed to be extended for 10 business days following the date on which the option holder ceases to be an insider. This period was therefore extended to 13/04/2018.

Director

Position

Options extended

Total Options Held

Current holding in UKOG

Current Shareholding as a % of Current Issued Share Capital (excluding options)

Stephen Sanderson

CEO & Director

25,000,000

85,000,000

-

-

Matt Cartwright

COO

10,000,000

40,000,000

517,598

0.01 %

The exercise, grant and change to the expiry date of options is notifiable pursuant to the EU Market Abuse Regulation. Notification and public disclosure of transactions by PDMR and persons closely associated with them in accordance with the requirements of the EU Market Abuse Regulation can be found below: