Member Info for wizard125

Mirasol

If you read the RNS I believe UKOG addressed that.

Penguins

Very funny you have been predicting the depletion for many years that the water injection is there to offset & was stated by Xodus in the 2018 Portland CPR.

The key question as far as the gas is concerned is what is the current gas production & how is that likely to increase in the development, test & production stages of the future HH wells & is it within the current permitted limits?

HH was originally permitted for 3000BOPD.

Mirasol

I never siad it was please reread my post!

HH1 was reperforated in late 2020 the well has been under very controlled production due to the wated now being produced & the cost of exporting it offsite.

If the water can be reinjected the production may no longer need to be held back & we can see how well it will flow.

HH2 is now planned to become the water injection well.

Sorry that was HH1 vertical well can produce after its reperforation with water injection.

Mirasol

Water injection was always going to be needed in the early stages & would need to have been provided to support production that was not even there in the EWT to prevent depletion.

As far as I know HH1 in its present form was not drilled as a production well, it will be interesting to see what happens after the water injector is fitted & what it will produce as a horizontal well after its reperforation when the water is reinjected.

zyx098

The funny thing is that UKOG's perceived problem of water ingress will probably be UKOG's blessing as once a water injection system is fitted the produced water will enhance production & support reservoir pressure in the long term & water will not have to be brought in from outside at additional cost.

Short term problem long term benefit.

zyx098

Penguins is a self confirmed trader what's your game?

zyx098

I have my thoughts as to why, which include the new 6 well not 2 well environmental permit with the predicted revenue per well in production.

I'm sure that the decisions that are being taken will ultimately be to shareholders best interests & the rewards will be provided.

This is a longer term investment & anyone wanting a fast buck can be a trader. I believe UKOG states that returns are likely to come over the longer term of 7 years plus which obviously covers permissions, development & costs

My thoughts are that when HH is in full production with 25 years production granted & other sites are granted or in development or production investors will really feel the benefit unless someone else sees the benefits & buys them out.

Hopefully at a good premium to the share price at the time. If the French we prepared to pay11p+ pre EWT & development what do you think someone would pay in production with 6 well & a full CPR & other licences granted & producing?

zyx098

I take it you have made up you mind that no reserves will be allocated for the Kimmeridge & I note yours & Penguins constant referral to the change of plans for the dual completion of HH1.

What you never seem to take account of is the change of circumstances that occurred & the fact that UKOG bought another 35% of the Horse Hill licence from Tellurian or that the other Horse Hill partners have paid there share of the cash calls for development but probably still want there share of any profits.

senmon1

I am fairly new to trading to as I transferred my pensions to a SIPP & invested through there.

There are many ways of investing Short medium & long term & ways of getting out of difficult situations sometimes if you are prepared to take more risk by averaging down. ( that is not advice )

From what I know of your situation it is not to serious even if it may be unsettling.

If you were aware of mine & that of many it would make your toes curl.

Despite the difficulties I remain positive on UKOG as I believe the company has a longer term plan that will more than make up for these difficult times now especially when the oil production grows & is produced from Horse Hill over the next 20+ years providing funding for future growth & development & eventually dividends.

senmon1

Glad to see you held on.

Don't be put off by the trolls. It has been tough here & many are disgruntled & many are just swampy activists.

The reality is that as scary as it may be at times unless the company was going to go completely bankrupt ( which I do not see happening) the share price can rise or fall as much as it likes if you do not sell.

When the good time return the paper losses will disappear as will some of the trolls.

Feel the fear & do it anyway.

Gl.

Not necessarily.

Maybe that was just what was needed & cleared out all the dead wood & weak holders all the way up to 0.50 that would hold UKOG back from achieving the next leg up to 0.90 & beyond.

Clear run to 0.50 now & some increased resistance up to 0.90.

Better times coming imo. as Rome was not built in a day.

galanoja58

This could be quite significant of Syria is anexed by Turkey.

https://mobile.twitter.com/ShehabiFares/status/1379866959819513862

Ocelot

London stock exchange still behind that. Figure about 900,000,000+

ocelot

Believe it or not not figures were from the London stock exchange in the same timeframe I copied, pasted & posted.

Very strange & why I posted the second time.

Volume 521,758,827

Volume 263,513,861

Radguy

Resting on your larels means:

Be so satisfied with what one has already done or achieved that one makes no further effort.

galanoja58

I take it that is why the gas pipeline runs from northern Irak to Turkey & more oil & gas one will be developed from Iran & Irak that can also freeze of the Russians.

Gl.

DanielC43R

There is still potential for this imo.as UKOG only owned about 20% of Horse Hill at that stage & now owns almost 86% having bought out partners with dilution but has not yet added the value to the investment.

Time will tell but the company is still confident enough to push forward with UK development as well as this new Turkish challenge.

No resting on any lorals here.

Onwards & upward.

Gl