Member Info for wizard125

bendog

I think it is more likely to be the other way around.

If you look at shells reasons for pulling out it was because of the time and cost it thinks it would take to get it going with all the legal hurdles!

Shell would be more likely want to buy Horse Hill from UKOG once it has passed its legal challenges and all permissions are in place ready to drill the next 4 wells as it is oven ready and will pay a premium for having all the work done.

Just remember oil sites are valued on Net present value of oil in the ground.

The EWT is complete for the Portland and Kimmeridge is it time to cash in to fund new sites and licence development?

Tranquillo

Your right he talks a load of bull.

You say he he is invested in UJO but thinks UKOG has lots of shares in issue.
UJO had over 20 shares in issue before consolidation to 33p.
Look at them now at 11p.
Consolidation is not the answer.
I am looking forward to a better year ahead for UKOG with lots of newsflow to come.
Delisting may be his dream but much to much to play play for here.

ocelot

I thought that the message from the RNS was quite clear.

From January UKOG does not need a financial director as this has now been restructured between the new executive director and finance manager which will be covered and overseen by the audit committee.

This should leave more time for the executive directors to consentrate on moving the business forward.

It points to more delegation and hopefully the new finance position will ensure more time for all the company filings to be done in a timely manner.

Tony13579

I don't see it happening but how would they propose to adjust the emissions figures to replace imported oil and gas emissions when the indigenous oil is cleaner.

Tony13579

As far as I know emissions are monitored in sectors e.g. from driving where emissions are calculated at a vehicles MOT as mileage and emissions records are recorded to the DVLC annually.

Other emissions can only be calculated on individual products once they have been produced and may include plastics, chemicals etc. which will be created from different parts of the refining process depending on how each delivery is utilized.

These actions seem like desperation and delaying tactics.

Ibug

What SS actually said was re. CPR was after HH2 and possibly HH 3.

There was no clarification for the reason but in my opinion if the production licence is overturned a CPR prior to this would be pointless as the oil resource would not be able to be produced.

A EA permit for water injection and the oil production which I doubt will be issued until the court ruling is confirmed as it would likely also affect the permit.

All very interesting but the Finch challenge is to the additional four wells and the production licence for 20 years for HH and I can understand you scepticism about a CPR produced prior to the EWT of 2018 and I agree that every investor will have there own views and invest accordingly.

Mine include the bonus for SS for the successful completion of the EWT the buyout of other partners following the EWT with the inside knowledge they have as the operator and the additional planning & production which was put in place to make the recovery of the resources confirmed possible so will look forward to the new updated CPR when it is eventually published.

There are still legal challenges pending to challenge the granting of the planning and production at Horse Hill for 20 years by Surrey county council which could prevent these resources being recoverable.

These challenges can not go on for ever and I doubt that any new legislation will change laws retrospectively.

The last appeal at the High court advised that this was a political issue not a legal issue and that has not changed as was also confirmed by the government case with BP.

Good luck to all long term investors.

Ibug

You seem to constantly write off all value of of oil in the ground and recoverability from the further four wells that can be drilled at Horse Hill whether done by UKOG or someone else.

This is an investment and the ever increasing oil price and reduced future availability from lack of investment will push up future net asset values.

https://oilprice.com/Energy/Crude-Oil/Saudi-Arabia-Warns-Of-Shrinking-Spare-Oil-Production-Capacity.html

Then UKOG can show its hand on how it is going to recover the 300million tones of fuels that Sarah Finch and friends of the earth has been trying to stop.

Bring it on.

Heid

We have seen this ramping from you before then you changed your mind after leading many up your garden path!

https://oilprice.com/Latest-Energy-News/World-News/Iran-Needs-11-Billion-To-Develop-Oil-Fields-Along-The-Iraqi-Border.html

Brent Crude 86.60 +1.06 +1.24%

Ibug

Why don't you write to the company and ask for a copy of the directors terms and conditions?

I don't believe that the company can refuse to issue them if requested as the directors have to stand for election by shareholders.

Mirasol

Morzaria was re elected at the last AGM I believe for a period of two years.

I understand that should a director wish to resign it would require a one year notice period.

Mirasol

I don't know if that is true or not.

Even if that happened it would not mean that UKOG would not have a accounts specialist as the Non Executive director has a oil and gas finance director background with larger companies. Nicholas Mardon Taylor came to UKOG from a position as finance director at Hurricane energy. He also as a Non executive director scrutinizes the accounts as part of his audit committee responsibilities.

Nicholas Mardon Taylor
Non-Executive Director
Mr. Mardon Taylor served as the Chief Financial Officer of Hurricane Energy PLC from May 2012 until January 2016. He has worked in the oil industry for over 35 years, his first involvement in the North Sea being in the early licensing rounds. He was with Hurricane from 2005 to January 2016 when he was the Group’s first CFO and was subsequently responsible for the Group’s Environmental Management System.

Stopstart

Have you done any research read the RNS's.

If you have any understanding it is there.

Stopstart

You claim to be a shareholder here, If you feel how you do why do you remain a shareholder or is it all lies?

Stopstart

You seem to forget that the OGA will have the resource information from the EWT at Horse HIll.

Time will tell Penguins but it was stated that nothing new would be happening at Horse Hill in the next 12 months before they went to Turkey so we will have to see how things progress.

Ibug

I think there are a couple of reasons for the delays the legal challenge to the site & the COP26 conference at the end of the month.

I am looking for better news towards the end of the year for progression.