Member Info for wizard125

Penguins

If you are as concerned as you say.

Have you contacted UKOG with you concerns about there RNS's? instead of posting them here.

What you are effectively saying is they are not correct but as far as I remember at the time of the covid-19 lockdown or full year figures there was a statement covering that that the directors believed it was not in investors interests at the current time & dilution was the best policy.

I can only presume that the reason for this is the lower oil price relating to net present value.

Cardinal3

Below is a link to a article. The case is against Surrey council who she is claiming should have taken into carbon & greenhouse gas emission's of the oil that will be used that during the planning decision & aims to have that planning decision declared unlawful.

I understand the High court refused to hear the case on 2 occasions but Sarah Finch was granted leave to the court of appeal & the case will be heard at the court of appeal on November 17 & 18 2020.

https://drillordrop.com/2020/10/26/minister-and-friends-of-the-earth-join-legal-challenge-over-horse-hill-oil-production/

Ibug

If the Surrey council permission is legally upheld.

Now the transport permission is signed off it will be possible to put together cash flow projections base on production that can be exported which up to this point has not been able to take place.

This will affect the value of UKOG.

Mirasol

The reality while I accept the current HH2 situation which I hope is temporary & will be resolved with taking the well in a new direction or whatever the solution is.

The points you seem to ignore is if there was no legal planning permission for 25 years or transport policy there would be no Horse Hill despite the reserves that are undoubtedly in the ground & UKOG have coming to surface.

Dryboy1

While I feel your pain I would point you to look at what has happened with Alba.

Alba had been at a low of 0.04. Then with the grant of a planning permission to proceed with a drill in the Welsh gold belt it touched 0.56 which is 14* the low of 0.04 & as of yet there have been no major developments.

I think what this shows is that this situation here can change very quickly with some positive news.

Sparticus1974

My understanding is that a CPR can not be released until all the permission's are in place.

The final conditions of the 25 year planning grant by Surrey council were signed off last week but there is a legal challenge at the court of appeal in November, challenging the legality of Surrey council's planning permission.

Hopefully this will be resolved in the not to distant future so the long awaited CPR can be released.

Mirasol

I tend not to agree & believe you only have a very small sighted view of the situation.

When a number of issues including the court of appeal review of the Horse Hill 25 year planning, Loxley planning & a increase in the oil price & a CPR will all help put a different perspective on the situation & show the lengths that SS & UKOG have gone to so far.

Once this is done it should provide a solid foundation for UKOG's growth & I believe as the difficult situations are resolved the strength of leadership & stability we have in SS & the board will become more apparent.

I understand your mixed emotions muddying the waters but a lot of work has been done but there is a bigger picture here.

TopGun333

I'm not sure what research you did about your investment before investing but it is always size.

The question for the future if you can ride it out, or average down, is what will the share price be on 1st January 2022.

Did you think this was a get rich quick scheme?

My advice is to do plenty of research UKOG have quite a story & when the time is right could go up faster than it went down.

So what are your thoughts of why the rig remains on site at a daily cost of £?,000?

Ibug

Was that RNS covering equipment to bring HH into long term production.

Could this be part of long lead time.

Now that the HH1 workover has been done & the rig remains on site I find myself asking myself.

Has UKOG bought itself a work over rig as part of the equipment purchases from the placings?

If it has it would help push future workovers though without the delays & costs of hiring & waiting for a workover rig to become available for future developments at HH & beyond and as for Penguins claims. I can not see money raised twice with placings with purchases like if it has been purchased.

Never mind the clowns comments!

If Joe Bidden gets elected in America & ends America's 13 million BOPD production where does anyone see the oil price going?

doria1943

Like me I think Sting69 sees UKOG as a investment & despite the short term share price downturn may not be as bad as it looks when put into perspective!

If anyone considers now that UKOG has finally received it's production licence for the Horse Hill licences which has taken at least 7 years of time, effort & cost to bring to fruition with a 25 year production licence for up to 6 wells & water injection wells at the Horse Hill site.

UKOG has also grown the HH licence percentage from below 20% to nearly 86% with HH1 production from a vertical well & HH2 drilled dispute the current difficulties with a resolution sought & other licences & interests coming up for appraisal & development.

The point being missed despite the current dilution & a small debt to P W Well services for production equipment UKOG has no debt unlike many other companies.

That means no debt repayments, no interest payments only covering costs, new development costs which will help grow the business & profits at a faster pace.

The current share price also provides new opportunities for investors old & new to take advantage of the very low price & average down or buy in. I hear all the negatives & only small voice for the upside at present & It may take the brave to look forward & have cast iron kahonas but a faint heart never won a fair maiden & when this eventually moves & if it moves as before will you be kicking yourself for missing the opportunity?

I accept that there are risks but for me personally at this point the upside risk seem far smaller than the downside risks dispute the challenges that remain that I see ahead especially once the work over, Horse Hill planning challenge & Loxley are out of the way are out of the way.

I for one despite being well underwater will not be missing this opportunity & have added nearly 50% additional shares to my holding & will add more as I am able or the opportunity continues.

All things considered, if you ask me, am I happy being underwater as I am?

The answer is obviously not.

The reality is I am & a fact so how am I going to manage this situation?

Sell at a loss?
Wait & hope?
Buy more & look for opportunities as they present themselves?
Curl up in a ball or run away ?
Just bellyache & ***** calling the company & it directors names?

Positively breeds positively & while I accept it is a long & frustrating path at the moment I for one can see some light at the end of the tunnel even if there may be a few more ups & downs to come.

Good luck to all UKOG investors old & new.

Skwizz

What surprises me from a declared trader like you with profits is that at these levels you are not considering a new investment & trading from these lower levels for new trading profits or upside potential.

For all the talk where is the action?

Mirasol

With the compete reperferation of I think it is 38m of the Portland with larger perforations it will be interesting to see what the new flow rates are who knows maybe they will give better production than the HH2 sidetrack.

Beside who would have been happy last year with another £5-7 million raised on top of the £12 million to buy the 35% licence stake especially as there was no permits for transport?

Fool On The Hill
@FoolHereAgain
Well you know that a cat has nine lives #ukog lse Face with tears of joyFace with tears of joyhttps://youtu.be/S6CdpAhwpw8

Another one about to go then, can't be many left!??

Again Penguins you deny the point that very little was possible without the permits which will allow a financial calculation.

Although done in the middle of a oil price crash will never be as valuable as at normal market rates.

Penguins, I could set my clock by you predictable as ever.

Today you even have FOTH's love & adoration.

A match made in heaven I'm sure.

Unfortunately imo. the time lines are not of UKOG's or the OGA's making.

The key question is, was it possible for Surrey council to shorten it or was the time needed for the due diligence required.

In this case the OGA has been obliging to accommodate continued flow testing & cost revenue's over a extended period & who knows maybe following all the hype & the share price hitting 11p it was a requirement of the OGA, the government or FSA.

On the results & requirements UKOG now have all there production permit's for both the Portland & Kimmeridge drills at the Horse Hill sites despite the propaganda against this situation.

The details for the independant Portland report were released by xodus in late 2018 & then updated by UKOG .

The details of the site values were released in a interview with SS & I am surprised that there was no RNS as it effects inside information that has a material impact on the company valuation & share price as does the information in the UKOG presentation regarding the number of sites, but the communication was made & is a matter of record including the interviews on the UKOG website.

Should you care to do a little research you may find that UKOG have until 2021 or 2022 to evaluate the Kimmeridge & bring a field development plans to the OGA which I'm sure will be extended if necessary due to the Surrey councilor's delays with the planning.

As a result I am not surprised that UKOG are pushing forward with plans for a speedy cash flow from Turkey so that they can push through multi site applications for development & drilling in the HH licences & beyond once the president's are set.

Bull by name bull by nature!

Goodnight.

Funny we actually have board meeting to discuss your antics!

Nobody needs a drink to be merry.