Member Info for wizard125

Gerry One of the key point was cost of barrel of oil was $14-$20 leaving $59 - $65 profit per barrel oil profit at $79 per barrel. The 2 were 1in the middle from Angus & 1 on the end from union jack oil.

Thanks Boyzee Good luck!

Zoom Every little will help take this commercial then the development can begin.

Gerry link sorry .https://www.youtube.com/watch?v=a0Hx8qmrfnA&feature=youtu.be&app=desktop

Gerry These are industry figures please watch the link then you will be able to comment as to if you believe them or not. Thanks to Heid for the reserch.

I'm wrong Zoom I misread the �/$

zoom Try $55 per barrel

Chaebol HH flowed 1688 BOPD last time that $9 million profit per year is based on 1500 BOPD over 300 days per year if the flows can be repeated & sustained. I accept they can be more or less but that is what the coming flow tests are to determine. The other consideration is that HH1 is a single well that already has permission for a second well and a side track to be drilled. If you factor these into any realistic calculation.The flow tests are to confirm commercial flows and develop the site. This is not fantasy but a realistic appraisal.

Gerry Your example of 170 BOPD for UKOG @ $79 * 300 days production in a year gives UKOG over $4million revenue with over $3millon profit. 340 BOPD to UKOG = $6 million profit per year 510 BOPD to UKOG = $9million profit per year 680 BOPD to UKOG = $12million profit per year from HH alone.

Boyzee what do you think would happen to the share price of any listed company in any market paying a dividend giving a earning per share and it's net debt was suddenly not allowed any longer and shares had to be issued by the company to pay the debt. Do you still think they would have a earning per share? That would create a level playing field on the same basis a UKOG as once the finance companies have received there shares UKOG has no debt. How many other listed companies have no debt at all and pay a dividend?

Boyzee As I have said to you before. I would be more interested in the capital growth of this share at this stage. The initial stage is to get it commercial and producing day in and day out. If you watch the link Heid has kindly provided they explain the time frame to recover the drilling costs and the profit per barrel for UK onshore wells. This will then provide a cash flow, working capital and a profit without the need for finance which will in time give your earnings per share. What share price do you think UKOG can achie on a commercial declaration with flows of each 500 / 1000/ 1500/ 2000 BOPD from HH?

Miloh What you don't seem to understand either through being nieve or stupid please let us know, is that as long as there is oil flow at HH each barrel will give a profit of between 59 & 65 dollars which will allow HH to become a commercial prospect. Try doing the maths! The discussion implyed that a oil well could be commercial with 50 BOPD if over 3 levels it only flowed 500 BOPD not 1688 as in the previous tests the potential is huge that is a 10 bagger alone. Sentiment, time, BB & the finance have all played a part in UKOG's fall from grace but lets not forget the opportunities that is has the potential to create.

SS did not ramp that profit figure last year. All looking good for commercial with flows from any of the 3 tests at HH

If no rig is needed for the flow tests why have all the civil works for the pad been done? Is this all in the knowledge that HH is going to be commercial and is ready to go into production as soon as production permission is granted, allowing the drilling of HH2 and the side track to be done?

Gateboy Seeing blank screens come to mind. Then the desperation to fill them is a self full filling and on they type in there delusion! Who is listening to there rubbish?

If no rig is needed and no RSN is needed to commence the flow tests. I assume they could be carried out silently a night. The first news may come of tankers leaving the site in daylight unless the limits are permissable at night as well In that case we would be surprised with unexpected results!

Taking time to consider SS change of manner leads me to the think that his reduced salary for last year may: 1. Have been taken in options? Or 2. Had to pay financial penalties for inappropriate conduct or misleading statements?

There is not all the hype of the last couple of years with the disappointment of BB which is 100% UKOG owned. Sentiment is low at the moment and some may doubt success. Maybe they have forgotten the reality of HH flows and it's potential especially with the currant oil price making commercial reality easier. I personally prefer less hype and better flows. What is your preference?

I also expect the rig and OGA approval this week especially after the bollards were put in outside the gates by the fence last week which may of been required by the OGA. The only other major delay could be the injunction? SS now seems to be in a pattern of no communication and dropping everything a the very last moment so I think this is what we should expect knowing it is coming without giving ourselves a coronary. GLA

Heaven is a near a place with DCB & Jayfax in filter maybe more posters should try and let them post to no reply. GLA