Member Info for wizard125

Thorpedo

The other restriction that prevents excessive oil being produced under EWT by the the OGA is how many tonnes can be produced.

New allowances need to be applied for & may be granted based on costs submitted.

We are all aware that the OGA only granted a 2000 barrels oil allowance when HH1 was drilled & UKOG had to wait until 2018 for a EWT permit. They will have restrictions for the increased allowances as they progress.

Penguins

A exert from your post. 200 bopd from the Kimmeridge (despite assertions the 'taps' would be opened up this seems to be about what the Kimmeridge is actually capable of.

If you read the RNS of 18 Janurary. UKOG can not post any revenue from EWT only net off oil sales against costs.

On your assertion where else will this extra money be allocated?

Ibug

Do you think that is why Alba are taking on a new debt facility?

A swampy wanting access to the AGM !

For those who 'believe' in share codes it is supposed to mean RNS inbound.

skwizz

Two variables in increased delivery are how many BOPD HH2 will flow with the water fix.

The production licences for HH1 & 2 is the other which is all a matter of time.

A updated CPR will also add value as it will provide NAV which will aid reserve based lending.

The reason for this is that current oil production is only allowed to cover EWT costs under OGA rules.

Posters like Penguins like to spout that HH1 could not possibly produce more than 200 BOPD but this as I stated to him many times is not my opinion never mind the dual completion of HH1 to flow from the Portland & the Kimmeridge.

Alba current value £3.9million for the whole company not just HH?

0hmetoe

I think Mr Chester is short on UKOG.

https://www.fool.co.uk/investing/2020/02/24/could-the-ukog-share-price-now-be-the-bargain-of-the-decade/

The figure resolved it the general meeting was a extra £300,000 before the general meeting this is about 43 million shares like a YA conversation where does the 3 billion shares come from?

Resolutions at the General Meeting
Resolution 1 – Directors’ Authority to Allot Shares
This is an ordinary resolution to grant the Directors with the authority to allot and issue shares
and grant rights to subscribe for shares in the Company for the purposes of Section 551 of the
Act up to the maximum aggregate nominal amount of £300,000. This resolution replaces any
existing authorities to issue shares in the Company and the authority under this resolution will
expire at the conclusion of the next annual general meeting of the Company.
Resolution 2 – Disapplication of Pre-emption Rights
Resolution 2 proposes to dis-apply the statutory rights of pre-emption in respect of the
allotment of equity securities for cash under Section 561(1) of the Act. This is a special
resolution authorising the Directors to issue equity securities as continuing authority up to an
aggregate nominal amount of £300,000 for cash on a non pre-emptive basis pursuant to the
authority conferred by Resolution 1 above.
The authority granted by this Resolution will expire at the conclusion of next annual general
meeting of the Company.

These were the resolutions from the general meeting & they last until the next AGM at the end of March \ beginning of April this year.

Where is the authority to issue an extra 3 billion shares?

Where

Motley fool lies like this.

With no reserve-based valuation available to me, and no reserve-based lending available to the company, the risk to shareholders of further dilution — and to my 0.63p a share valuation — is significant. Indeed, I view it as ominous that the company has recently sought (and gained) authority to issue up to 3bn new shares.

That must be a mistake from there admin as the download document also says 11.765%.

Alba on 28.1.20 held 11.765 % now 9.765% a loss of 2%

I presume this is due low a loss of percentage due to not paying there cash call.

Well worth it GF.

https://www.albamineralresources.com/page.php?pID=8

fixturelist

Can you please clarify that statement?

https://www.lse.co.uk/ShareShortPositions.asp?shareprice=UKOG&share=Uk-Oil-and-Gas

UKOG has no short positions.

As I understand a short spread bet does not require buying shares if you can get a position.

Argus1

Do you think he will go long on UKOG now?

Thanks FOTH, Tony & John for a brilliant update.
This will hopefully take us forward & leave these dark days behind.

https://twitter.com/Adrianwfire/status/1230822156524818433

shouldhavedone

what we need is a surprise CPR & get those trolling shorts & YA out.

Bridgedogg1

From the top of my head I thought that the planning for extra oil storage in the new extended site was for an extra 9000 barrel oil.

DOR statement a little different from UKOG RNS thanks Pboo.

https://twitter.com/WealdOilers/status/1230442124413480960