Member Info for wizard125

Tony13579

You seem to have missed the other key factors that UKOG are required to achieve within the HH licences as the next site is already required to start drilling in 2023 by the UK government through its Oil and gas authority. Sarah Finch seems to think that long term energy policy is decided on a whim and there is a magic wand solution ignoring the policy of transition.

As we can see from the current oil supply issues from around the world we need our own home grown energy security through the transition to keep the lights on and the wheels turning.

Britain has its own resources without the need for imports to benefit it's people without the higher emissions of imports. This will provide added benefits where the taxes can help develop renewable infrastructure & insulate homes, this will in turn help aid the transition with less imports and production needed over time while preventing far higher national debt that the imported fuels will bring with higher taxes and inflation becoming a reality.

theluckyone

Hopefully they will see us all as princes when the turning point has passed.

Once the market has seen this share has been de-risked from the permanent 20 year planning permission challenge and that the resources confirmed I believe things can will move forward.

2022 could be a major year for UKOG. The UK regulatory system is long and robust compared to many countries.

ray.thirtle

Where do you believe that you fall in the IQ stakes?

Your statements of the directors not finding any oil after about 150,000 barrel of crude oil has already been shipped to the refinery from Horse Hill can at best be described as delusional.

This fact planning permission for 6 wells and a water injection well with production for 20 years at Horse Hill following long EWT has been granted is another.

The fact that Miss Finch and Friends of the earth going to the Court of appeal to try to overturn that permission is yet another.

It was stated as a fact that water injection was needed at a early stage in production and a new CPR would be produced after HH 2 or HH 3 so flooded soil is fantasy.

While I am disappointed that the directors have not bought shares at this stage prior to the Court of appeal judgement it could be considered a risk that they have not been prepared to take sadly. It will be interesting to see the share price performance over the next 12 months after the water injector has been installed, the Court of appeal judgement has been issued & the next HH well is drilled as the Kimmeridge well at HH is required to be spudded by September 2022 unless a extension is granted.

The directors not buying is a bug bare for many shareholders but all four directors has share options to be granted in 2022 at about 1.15p so hopefully we will see a improvement in the share price before then unless they all want there bonuses to lapse.

Skwizz

That question is why you are out and many are in.

Gl on the sidelines.

Ray.Thirtle

Great to see you gushing with all you lack of knowledge and bull.

Just making yourself a laughing stock and really boring.

Ray.Thirtle the eggcup man mark 2!

What value will alba put on there Horse Hill stake previously valued at £5 milion book value now UKOG have written down its value with historic debt?

IB.1:IEU
ICE Brent Crude Oil Front Month
PRICE (USD)
78.05
TODAY'S CHANGE
0.80 / 1.04%
SHARES TRADED
160.50k
1 YEAR CHANGE
+86.86%
52 WEEK RANGE
35.74 - 78.24
Data delayed at least 10 minutes, as of Sep 24 2021 21:46 BST.

Villa01

He is just trying to stop the exodus from UJO before the mooted placing!

Mirasol

My mistake but the reason for reduction of the storage was the regulation requirements especially when that original amount of oil storage was not necessary.

If more storage capacity is needed it will probably be added gradually as needed.

Ibug

I personally make that 31 hours which is less than 1.3 days or about 133 at today's rates or 266 barrels if rates were 200 BOPD.
It would obviously be different over the bank holidays but flow rates can be adjusted or where additional storage is required it may be added when necessary within cost & regulation requirements.

I see investerinvester has been doing his research.

Everything to be proved imo.

snaith2

That may depend which side of the fence you are on!

I did not see anyone sitting on it?

mirasol

If you think that the OGA want to see onshore oil and gas disappear, please explain why new licences are issued?

snaith2

Sometimes if you look closely at the pictures they say more than a thousand words!

Tony
@Anton13579
·
5h
All the pipe work at #HorseHill is completed for the fully fledged production well
Pump is back on and running
#UKOG

Penguins

RNS Number : 1464H
UK Oil & Gas PLC
02 August 2021

UK Oil & Gas PLC

("UKOG" or the "Company")



2-year extensions to PEDL137 & PEDL246 OGA work programmes



UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Oil and Gas Authority has granted two-year extensions to the remaining drilling deadlines necessary to satisfy in full the agreed Retention Area ("RA") work programmes of the Company's operated 85.635% interest Horse Hill PEDL137 and PEDL246 licences.



Both extensions are retroactive and take effect from the RA anniversary date of 30th September 2020 for PEDL137 and 30th June 2020 for PEDL246. Fulfilment of the RA programme enables the Company to retain all the licenced area vs. a relinquishment of part of the licence.



The respective RA programme deadlines are now as follows:

· PEDL137: commence drilling a Kimmeridge appraisal well by 30 September 2022.

· PEDL246: commence drilling a Kimmeridge exploration well by 30 June 2025.



The extensions are in response to the coronavirus pandemic.

Penguins

I have not looked but from memory I seem to remember of my earlier posts that the the FDP for the Kimmeridge was not due until 2022 which seems to fit in with a kimmeridge well being drilled by September 2022.

Penguins

As you have witnessed over the year's since the HH1 well was initially drilled it took 3 years to gain the permission before the EWT commenced & the permissions between the various agencies have been extended for compliance. ( All the i's dotted and T's crossed)

Hopefully 'Patience' is all that is required. Everything seems to be in line with Ibugs 11.53 post so far. If everything else remains equal I am sure that you can work out the multiples enabling the drivers for UKOG's growth.

Mirasol

HH 4 may be drilled before HH 3 if it has to be drilled by September 2022 so may not be the dream that you imagine.

The initial drill in Turkey was mandated under the licence agreement & was achieved any follow-up Wells do not fall under that mandate of time baring.