Member Info for wizard125

I can feel sorry for anyone who has bought in at those levels to a point.

If they have thrown everything at this share as a get rich quick option without considering the downside that can happen I have a lot less sympathy as averaging down is part of a sensible investment strategy.

Holding is another for better times.

Coming here on a daily basis slagging off the company & it current operations for your losses & ineptitude is not going to do you any favours it is not a perfect world & hindsight is a wonderful thing hopefully you have learn some valuable lesson which will be of advantage to you in the future.

Gl.

Ifonly1

Are you a trader or Lth?

There have been lots of opportunities to average down there are always risks in oil exploration did you take account of that in your investment strategy or follow the croud?

Charlie

I understand but I try to read the RNS read the press & Good comments here sorting fact from fiction in my mind & make a decision based on a risk reward basis as the is no reward without risk.

I think that there will be a lot of disappointed readers once the Times and other journalists have been proved wrong & many readers find out that they have been deceived but the ones they we asked to trust & missed the boat on this growth story.

BB did not workout at the time but hopefully the 2 new Wells & the return to BB will pay dividends now.

Ever the optimist ifonly1.

I don't really value your opinions, beliefs & fantasies after reading your posts here.

You have been proved wrong so far & will be proved wrong again so no credibility.

Read the RNS & weep!

That may be true CCC.

But I am glad to be witnessing the foundations of that growth phase.

It is like a star is born now for it's development.

Charlie

After all the negativity that has been in the press & on this board over the last 2 years calling SS, DL & the expert reports liars without any facts & now what appears 2 & I can not see it not being made 3 layers of commercial declaration. A scoping plan for another 6 wells why you consider UKOG just a punt?

I think this part is now seriously derisked and may take a while to develop but will now fund growth which was the management plan.

Other sites which are funded for 2019 should help this process now hopefully without any further dilution.

Thanks Penguins

I may not be right but I had an idea in my head that there was only 88ft of perforations at HH & 1700ft at Balcombe.

Obviously there is a difference of 650 BOPD & the 3000 BOPD quoted but for 5× the perforated length at only 450ft for approx 3250 BOPD at HH Is a big difference if it works that way?

If a sidetrack was drilled into the Kimmeridge how long would it be & how much of it would be perforated?

The reports on the Angus sidetracks perforated length are reported far more than the well at HH although we still seem to be having good production rates for a far smaller perforated area.

What could we expect for BOPD with a sidetrack here & a more perforated area?

Thanks again for the great photos & videos from the 3 musketeer's at HH.

1st tanker in at HH this morning.

Will we get at least 3 today the way the flare stack has been firing?

So far & they have saved the best for last.

SS said the Portland & KL3 will pay for UKOG growth does that mean that the KL4 will be profit for shareholders? Or it will be reinvested in new licences?

Moving the oil to the refinery from HH is a logistical problem which in part may be solved with a buyout of the other licence holder's , and the new well sites to be drilled at PEDL234.

This may allow side tracks to be drilled to remove oil from numerous sites in what appears to be a continuous lake of oil running 30km North to South.

This would reduce the amount of tanker movements at a particular site.

Is SS saying we don't need a joint venture as the wells will pay for themselves as they are drilled & come online after 3 months?

Rosewall

Maybe but if UKOG ever get bought out they will be at a premium.

I am sure he can wait.

Obviously the pressure is on over this touchy subject.

Investors will always have opinions mine is that Uncle Steven has skin in the game as his options are accrued as part of his salary.

Others feel let down that he has put no money out of his own pocket on the table so do not trust that he has anything to loose.

The other side of the coin is if he had a lot of personal skin in he game would his decisions be as objective or might he make decisions for the company for his own personal interest.

Even if his decisions were objective on this BB they would be ripped to shreds over every decision IMO.

If SS exercised his options & decided to sell them at some point for whatever reason he chose what would you be saying then or what sort of panic do you think this would cause as he would have to notify the market through a RNS that he had sold his shares but not give a reason why.

While they are held as options you know they are there and could laps but while in profit this is unlikely.

You will be notified by RNS if he converts which will give him the option to sell but may not as the options may lapse if he does not convert.

You would be notified by RNS once he has sold if he has decided to sell for whatever reason which would not be know what that reason was. This I am sure will cause a lot of speculation or panic at this stage of the game never mind the dilution.

JBG

Obviously you do not get it do you?

As stated this is a extended flow test & rates will not be maximum flow rates, that is not the aim of these tests even SS comments on the Portland commercial RNS were that the Portland was robustly commercial well below the stable flow rates & the current oil price.

The aim is to determine if the well will be commercially viable with it's flows for a long period & connected oil volumes, only one of the tests during the test sequence is to determine maximum flow rates at that point in time.

No reward without risk Query!

After the fall with the problems at BB I averaged down & there was a rough ride for a wile but all positive now & looking for more to come as the the balance of risk moved to the upside a while ago now.

Query59

I think you missed the bounce!

Interesting Mr008

About 65% of UKOG held in investments, ISA's or SIPP's by personal investors with these institutions, mostly away from the taxman I presume.

Is that as time goes by and with technology advances & the knowledge of how to open up different pools at different layers what may be 5% or 10% recoverable today will be far exceeded in the future & could be 50/60 or 70%.

Pie in the sky maybe, maybe not?

As a result I am beginning to hope that any offer to buy UKOG out would not be accepted.

What I think is that we will need help in developing our assets & making UKOG a massive company that Britain can be proud of.

This is what I believe SS has in mind but would not have control over if a good offer came from a major that shareholders wanted to take!

Maybe short term gain & a long time looking back as to what may have been.