Member Info for wizard125

Ironhide

As the economy gets going again & the price of oil continues to rise so should the profits & share price.

It will be interesting to see what is happening in another month when the interim results are published. Hopefully we will have had some intervention & be at least duel flowing.

Sentiment may be dented but we will see a return especially with PEDL234 & the IOW not needing dilution to increase the % as it is already almost 100% owned.

Ironhide

Where I disagree with you is that your point doesn't take account of the value that should be added from the updated CPR covering the Portland & Kimmeridge at HH.

Currently the Kimmeridge is not part of the UKOG share price but will imo. have a value when in production even as a duel flow from HH1 . No value has been atributed to the Kimmeridge but it has produced more oil than the Portland under EWT over the last 2 years & will provide revinue this year & apart from the extra shares that UKOG now it also has a:

Extra 54% of the HH licences 32-86%
Extra 30% of the IOW licences 65--95%
Extra 25% of A34 licence 40-65%

The key question is at which point will the CPR be updated to include these values.

UKOG very clearly stated it's aim of being a growth company when it changed to a operating company but I agree we shareholders need to see the benefits of the support the company has had in underwriting that growth.

I believe that a consolidation is only justifiable after suitable value is added & RBL & adequate cash flow is available to the company to self fund.

This would provide stability & rewards at the time & moving forward.

ocelot

Are you shore the previous conversation was not forward sold?

They can only be sold once & once there gone there gone we have a CPR & 25 years of income to come & enjoy.

Shareholders time will come & the share price will not be here for ever.

Mullins58

I think we have all been in SS's time machine as of $40 per barrel we go to the Bahamas.

Gl all long term holders!

https://www.lse.co.uk/rns/UKOG/result-of-placing-sutj85w7325iq1a.html

John Rogan
@JohnRogan9
#ukog The flare is 'blowing the bloody doors off' or 'the flare is light', what do we want? The aim is to produce as much oil without releasing lots of gas, like opening a coke bottle carefully, there is a choke. When we get gas to wire and gas to tanker we can open the choke.
............
JR

Was the gas to wire not put in place after the last £2 million placing to speed up production & other well EWT?

Penguins

By the way that has nothing to do with your constant comments about lack of pressure in the Kimmeridge sections imo & your comments are not supported by UKOG comments or RNS either.

Penguins

Imo at the time of the writing of the RNS or the planning application, neither shareholders or SCC were lied to as technology all 3 well we're under EWT conditions where there was no revinue.

Currently imo. HH1 Portland could be described as commercial as it is now in production & producing revinue. KL3 or KL4 is not yet in production but they remain commercially viable.

I grant that the Kimmeridge is commercially viable but not yet commercial & they want more data from other sites BB, Dunsfold & maybe one other but they have until 2022 to appraise the KImmeridge & bring a field development plan to the OGA before progressing.

EOTP

This is in the notes from the RNS 18 Feburary 2019.

5. Oil field with three productive and commercially viable zones, EWT ongoing, two further wells HH-1z and HH-2 scheduled in Q2 2019, development underway subject to grant of planning consent, expected in Q3 2019.

bladehater

I think he is just attention seeking as he's lonely being locked down alone for so long!

I don't think SS will be having anything to do with him the way he has conducted himself.

trollhunter2

I see that pennydealer is going to wait until it is 10p to buy a share what else could we expect?

roganjt

Are the Portland & Kimmeridge tanker filling points in different places as the 2 tankers this morning were both out full by 9 am which could be accommodated this way if they arrived together at 8 am unless Greg stopped over as I know that he has previously?

roganjt

Great news & very interesting after either HH2 or HH1 free flowing yesterday.

After paying the £75,000 cash to YA yesterday UKOG may have now fitted the new cost saving measures saving money & use even more of the free cash flow in future to pay the loan down further (organic growth).

I'm not surprised about the increased admin costs with both Dunsfold & the IOW planning applications now having been submitted to there relative authorities as well as the BB licence extension

UKOG comment.

https://mobile.twitter.com/UKOGlistedonAIM/status/1260895692836438016

Ohmetoe

Hopefully a educated guess after the other RNS details around that time.

Ironhide

I know but I try to look at rationals for actions but there was at least 3 tankers per day.

It could be that they were being trialed to reduce export costs as well.

Maybe the Sayers tankers that exported oil from HH are for HH2 & BHP are for HH1.

If that is the case that will be at least 1000BOPD leaving HH before optimization!

Tymers

The irony her for me here in the UKOG share price is unreal as what the company has already achieved.

1. 20- 86% increase of HH licence holding.
2. 65 - 95% increase of holding of IOW licence.
3. 40 - 65% increase in holding of the old Holmwood licence.

What I want to see is for the UKOG team to monetize these assets bringing the company & it shareholders the prestige, value & share price they deserve.

Hopefully some better news reported at the end of June now that we are in production despite the current difficulties.