Member Info for wizard125

Will we get another site update & Photos of Basur3

Will we get a RNS on UKOG director share purchases?

When will Horse Hill be granted it's environmental permit which will allow water injection & production from four more wells.

What other news awaits us in the morning?

Onwards & upwards it could be a great summer

Penguins

Thank you for highlighting that UKOG are now making the improbable a reality!

Penguins

Yawn!

Don't you think people think the same about you and your posts?

Yawn!

Penguins

That's as maybe but in the interviews that you don't want to watch SS stated after HH2 or maybe HH3 but now the water injector is planned for HH2 it may be HH3 or HH4.

What many seem to forget is that water injection was needed in the early stages to maintain pressure & will now be in place when the environmental permit is in place for the drilling of the other well's.

Penguins

What evidence have you got to support Statement or is it more negative speculation?:

'Although the NPV for HH appears to have been calculated properly it was done by UKOG, not an independant 3rd party. As Mirasol points out UKOG have promised a CPR a few times when a certain milestone is reached, but then not commissioning one when it is reached.'

Mirasol

The net present value of HH1 is in the accounts.

You have been advised a new CPR after HH3

https://www.lse.co.uk/profiles/penguins/

penguins

While you like to try & cast more negativity & doubt into the mixture it is always possible that it is underwritten by the net present value of HH1 which has been in production for more than 12 months now with the price of oil expected to rise further. This would now provide the market sufficient data to lend against the net present value as I believe we were told in the UKOG interim figures announced in June 2020. ( All from memory but it could have been the 2019/20 full year results).

The amazing thing is as you become more desperate to run down the perceived chances of any success the more desperate you deramps become showing your true colours.

A word to the wise: 'Least said soonest forgotten.'

penguins

While you do like to play suspect & maybe's as any possible negatives you can think of:

On that basis that should you be correct with your speculation the reality of of the dollar being at $1.38 to the £ is £3,600,000 which will not all be in $ as the site development I am sure would have been paid in local currency.

ocelot

The other consideration is that no one is quite sure at which point any funds were transferred to Turkey & at what exchange rate as the exchange rate have improved from 8.56 Turkish lira to £1 to 12.01 Turkish lira to the pound today since 7 July 2020 which is over 40% increase.

Penguins I certainly don't see you considering or highlighting any points of that nature but from your I don't expect anything different.

Should any further funds be necessary for the Turkish development there would be far less dilution needed at the current exchange rate, So win, win.

Ian12

We were advised that Turkey would be profitable at $40 per barrel oil is now almost $80 per barrel with market estimates of over $100 per barrel next year.

This should certainly improve the risk reward ratio for current shareholders with the weak being left behind.

Insidious

Many may laugh & as a genuine shareholder I hope you are right.

If 88e can almost touch 5p from 0.24p on a drill in Alaska with 13 billion shares in issue why can't UKOG?

Time will tell but time is getting short & those that have been waiting for a placing to buy in seem like desperate scaremongers & will be paying significantly higher prices than 0.24p & the 0.13p that I paid.

Gl to all genuine shareholders here is to hoping that we can put this difficult period behind us, improve & develop Horse Hill, Loxley, the IOW & Turkey.

trollhunter2

Spot on & that is with Brent crude behind the curve at the moment as there is now less than $1 between Brent crude & WTI crude which is usually a difference of about $2.5

penguins

The rubbish that you posted in your 2 posts yesterday 30.6.2021 after the publication of the companies interim results, where the company gives a objective view, removes any credibility that you may try aspire to.

It sounds like penguins is hurting more than usual as he vents his spleen!

Long may it last as the more successful UKOG become the more he is riled.

Although He/she? will pour scorn & negativity over the prospects of the planned water injection for Horse hill which as stated will make Horse Hill profitable. This is just more proof of there persona of claiming to be a genuine shareholder if anyone believed it in the first place.

To me with the venom in there latest posts it sounds more like those aggrieved by the successful permanent granting of the injunction.

Ocelo

Cindy

Interim figures due.

headinthesand

Not really they were costs relating to going into production during the pandemic with Brent crude at about $19 per barrel. & growth costs.

Interest & excitement certainly starting to grow here with the traders & naysayers hoping for a placing that never happened
that they have been hoping for for many months now & never happened.

Every reason for the placing coming has been overcome by the company including the rig for contract & deployment.

Read them & weep!

headinthesand

The statement from the company was once in production rises will only be done for growth.

Production commenced March 2020 with funds raised to reduce costs & debts by the purchase of equipment which will work for shareholder benefits with increased profits of not paying rental charges towards the 20 year production term going forward & the loan that covered the purchase of the 35% stake from Tellurian.

Funds raised for Turkey are growth opportunities & as I said this is a investment which has obviously taken many years to bring to fruition due to UK regulations which hopefully will not be the case in Turkey under Turkish law.

HH is still awaiting the environmental permit for up to 6 wells for production & the water injection system.

Hopefully now we should start to see better figures coming out with the debts & historical losses out of the way & hopefully the interim accounts due to be published will show some improvement by the end of June & a rising oil price.