Member Info for wizard125

Sedoc

Obviously you have not read this RNS concerning the directors options.

I hope it does not affect your down bet but the RNS's are key for facts.

Exercise, Grant & Amendment of Options or Warrants
Mon, 16th Apr 2018 11:27
RNS Number : 0331L
UK Oil & Gas Investments PLC
16 April 2018
Â
UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Exercise, Grant and Amendment of Options or Warrants

UK Oil & Gas Investments PLC (London AIM: UKOG), announces the exercise of 1 million options, the grant of 17.5 million options and the amendment to the expiry date for certain options over ordinary shares granted in the 2015 option scheme.

Exercise of Warrants

UKOG announces that it has received notice of the exercise of warrants to subscribe for a total of 1,000,000 new ordinary shares in the Company (the "New Ordinary Shares"). The exercise price of the warrants was 0.4 pence. The Company has received £4,000 in respect of this exercise.

Application has been made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 20 April 2017.

Â

Following Admission, the Company's enlarged issued share capital will comprise 3,835,466,771 ordinary shares. The Company does not hold any shares in treasury. This figure of 3,835,466,771 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Grant and Amendment of Options

The Company also announces that it has granted options over 17.5 million shares in the capital of the Company. These options were granted to employees and consultants who are not Persons Discharging Managerial Responsibility ("PDMR") on behalf of the Company.

During its review of option awards the Independent Directors of the Company approved an extension of the exercise period of 25 million options previously granted to Stephen Sanderson (Chairman and Chief Executive Officer ("CEO")) and 10 million options granted to Matt Cartwright (Chief Operating Officer ("COO")).Â

The independent directors determined that to ensure the continued alignment of the interests of shareholders and the option holders and considering the liquidity of the Company's shares it would be beneficial to extend these options rather than allow their exercise in the current open period and consider the grant of further options to both the CEO and COO.

As such the Independent Directors on 13/04/2018 have approved the extension of the term these options may be exercised from 31/12/2017 to 31/12/2019. All other terms and conditions relating to these options, including the exercise price, remain unchanged.

Due to publication of the Company's Annual Accounts on 29/03/2018, the Directors were deemed to be insi

Markshares

If he had exercised his options and then sold them would you then want to know why?

Having exercised them to only hold them is dead money that he can exercise at any time not in a closed period.

jbg

If it has been 2 all week maybe it will be 3 today as No.2 was an early arrival today with a quick turnaround.

Will

I have no idea what they would use a brine mixer for apart from a kill brine fluid & have not received any other responses.

If they have been testing KL 2 not KL 4 & we have had such a good flow rate from KL 2 it can not be a bad thing.

I have no idea why they need a pump to test KL 4 as it only restricted the flow last time as I have said previously.

Maybe they have been testing KL2

argus1

I predicted a fall to 25p only 15p more to go.

I have listened to how they have a 8 months buffer to pay the payments to bond holders should anything go wrong.

What do you think would happen to the share price if they touch this even for one month especially before they are even set up on sight or flowed any oil?

Why would they need a brine mixer if they were not making a kill brine to killing a well?

no oil no value

If all is now hunky dory at Hurricane why is the share price still down 30%.

Ninetails

You only forgot to mention how many days you have off before your next tour of duty on the rig.

As stated in Janurary 2016 'UKOG has a direct 30% interest in HHDL, plus an indirect 1.02% interest via Angus
Energy. HHDL has a 65% interest in PEDL137 and PEDL246.'

Now Ukog has an interest of over 70% of HHDL with 2 soon to be 3 commercial layers.

I can not wait for HH2 & the sidetrack wells to start producing oil properly.

Maybe the market will then start to wake up to the underlying value in UKOG.

Today's deal is another big step forward for UKOG with Solo taking more shares as an investment company in UKOG so that it does not have to raise new funds itself.

Obviously the directors at Solo are happy with there investment choice here in UKOG to raise funds never mind the dilution as they must believe that the end justifies the means.

Not yet Heid is it on your twitter page although I am not on Twitter I will have a look as I saw the header withh SS on his black horse, Adrian, Dame Edna & Macca.

Looks like never a dull day!

Dodgiedealer

From what I have just read Angus owned the other 5% unless they sold it to Doriemus.

This is an interesting read on the IOW from UKOG dated Janurary 2016

http://www.ukogplc.com/ul/UKOG%20Xodus%20Arreton%20Volumes%20.pdf

Maybe you can put SS's head on his body for your calendar.

Shaken or stirred Madam?

This sounds like a great deal for UKOG at this price giving them 95% ownership of the PEDL 331 licence.I am not sure who owns the other 5%.

*** This piece of the RNS below is very interesting as the currant oil recovery from the IOW Portland is estimated at 12% of the 127 million barrels of oil & is analogous with Horse Hill.

Xodus has said the Portland at HH could produce up to a 45% oil recovery rate with water injection. this would give a recoverable oil rate of up to 38 million barrels on a like for like basis not the 14.9 million barrels estimated at the present time.

***The acquisition will also correspondingly increase UKOG's share of the Arreton discovery's recoverable Contingent Resource volumes by 46%, from 10.2 mmbbl to a material 14.9 mmbbl UKOG net. As detailed in Xodus's June 2018 Competent Person's Report, a further significant increase in oil recovery factor above the current estimated 12% is likely via adoption of an early stage reservoir pressure support scheme (i.e. water reinjection).

What no one has made any mention of is that as the geology at Arreton is analogous to HH.

So on that basis does it also have the kimmeridge limestone's with the KL layers like HH that are currently being flow tested or has no exploration work been done here yet?

Allthatguff

If KL 3 & KL 4 are linked & having seen a max of over 900BOPD from KL3 it is possible that KL 4 may balance out with KL3.

At present we have no pressure or flow readings from KL4.

It is also possible they are starting things slowly on the chokes & we will see increased flows as we move forward but to find the connected oil I be leave that is done at lower levels of oil produced.

Willowpilow

The biggest sign of naked shorting IMO was when the shorts closed allowing a share price rise to 2.9p before the second & third fund raises in the summer of 2018.

Now the finds are raised & we are successful look at what has happened.

Hi Jiffybag

I m not advocating a sale but it has been said on here on a number of occasions.

My thoughts were just for the Portland.

While I do not particularly want it to happen the reason for considering it is that in reality to push HH & multiple Kimmeridge sights forward, the development of PEDL234& its sites as well as the Isle of White is going to cost a lot of money & dilution if funding from banks or bonds is not available.

The value of the Portland was stated as £150 - 200 million.

I hope that UKOG can do it all in the time frames required Jiffy but at the moment thing never seem to run to schedule and keep getting pushed back & in part hidden from shareholders eg. Marks well wood.

That is not to be negative only realistic as I want UKOG to be hugely successfully but time & money are essential factors that need to be considered.

There has been plenty of speculation that HH is for sale

But if the Portland alone could be sold off it would provide plenty of capital for HHDL & Tellurian to develop the kimmeridge sites across the HH licences.

This would help free up UKOG to develop PEDL234 & the isle of White from a sound financial base.