Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
"And nobody will want to spend on legal fees on the farm in paper work until after the outcome of the court decision is known"
Yet UKOG and PPP already have..
BTW, Page 5 of Alba's last half yearly report makes for interesting reading.
https://www.albamineralresources.com/wp-content/uploads/2023/08/20230816-RNS-INTERIMS-2023-CLEAN-FINAL-3.pdf
Penguins,
The fishbone well design is essentially drilling multiple branches off a 'mother' well bore.
With respect to HH, there's no point in drilling multiple branches off a vertical or deviated Well - the cost would exceed that of drilling another 'conventional' Well.
As you point out, they are normally drilled off a horizontal mother well bore.
However, UKOG daren't drill another horizontal (never mind one with branches) on HH - too much risk of encountering a fracture that will act as a conduit for water, as per HH-2.
With respect to HH-3 (should it be drilled), irrespective of how much PPP are paying, under UK Law UKOG are still the operator and will be responsible for following all applicable regulations during drilling / completion operations. This includes being responsible for all day-to-day activities during the work.
This will include MANDATORY 3rd party verification of the Well design, prior to submitting it to the various regulatory authorities for their approval before operation can commence.
In addition, they will have to follow (also MANDATORY) the 'Well Examiner' protocol both during design and drilling / completion of the Well.
This protocol is designed to ensure that an Operator follows not just UK Regulations, but also the normal oilfield standards (primarily API) and the program that they had approved by the UK Authorities.
Will the normal practices for drilling Wells in Texas be acceptable for operating onshore the UK?
Absolutely not.
None of them on here Adrian.
After all, just three (or was it four? maybe even five...) of your fake ID's ago, you were commending me for using my expertise and experience in trying to work out what PBoo's observations had meant w.r.t. work on HH.
Besides, if you'd been paying attention and knew anything about the oil industry (and you have spectacularly failed on both accounts - unsurprisingly as you are a fire extinguisher salesman), I run Drilling Rigs (not oil Rigs) for a living and Ninetails works on a Production Platform (also not an oil rig).
IBug,
Drilling on the location of a seep is not wise - the very existence of the seep means that the closure on the structure has been breached.
Mind you, drilling on the same structure where a water well just a few hundred meters away found nothing but some emulsion is not wise either.
And yet here we are...
At 21 Billion (shortly to be 23 Billion) shares in circulation, "needles in a haystack" doesn't seem like an appropriate metaphor.
Apples on an Apple Tree?
Fat people in a McDonalds?
Stupid people on Twitter / X?
Drunks in a Pub?
Crooks on the BoD of an AIM Company?
Adrian,
"Proprietary works are two bob low cost works"
Presumably you meant 'preparatory', but irrespective, you said "No CEO will carry out work on a site undertreat of a legal challenge to thier planning permissions. "
And yet UKOG have carried out significant work - and said so in two RNSs.
Do you really think that drilling three water monitoring wells (plus the actual monitoring equipment) and installing (including testing and certifying) the pipework, pumps, water treatment facilities, power supplies and surface tankage is "two bo low cst"?
So how much do you think they spent on each of the water wells and the surface facilities?
I know you won't reply, because you have no idea - you'll default to type and either just deflect or ignore and start another thread.
But either way, you have been proved wrong in your assertion - again.
As wrong as your assertion about HH-3 - even Ocelot knows you are wrong on that one - and that's even presuming that Alba agree to the PPP farm-in, which they show no signs of doing.
Also interesting to know that you think a High Court Judgement against DL is 'cobblers'.
As a reminder, it found that claims in an SA paper that DL had "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders." were in fact correct.
So what do you know that the High Court didn't?
Rather telling that DL didn't appeal the result, don't you think?
And for the SC Case against UKOG, you yourself have said on numerous occasions in the past that your beloved Sarah will lose.
Just as we all knew that she'd lose the Loxley Case and that the SP had already taken that into account.
So when that Court Case result was announced, indeed the UKOG share price didn't budge...
Just as it won't when the SC Case result is announced - unless by some truly bizarre judgement they find against UKOG - which would have a devastating effect on not only the UKOG the share price, but also the whole planning system in the UK.
Basically you are sinking to desperation levels again.
Just how far underwater are you on your purchases at 0.18p, 0.06p, 0.05p, 0.0329p and 0.0327p?
"No CEO will carry out work on a site undertreat of a legal challenge to thier planning permissions. "
But they have carried out work;
RNS of 23rd Feb 2023
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that, as a necessary precursor to its planned Horse Hill-2z ("HH-2z") Portland formation water reinjection project, the Company has now installed three, shallow, groundwater monitoring boreholes at its 85.635% owned producing oil field.
RNS of 15th August 2022
Preparatory work towards converting HH-2z into a produced saline water reinjector continues.
Facts that show you are wrong are annoying, aren't they?
And the near certainty that UKOG will win the SC Case has already been priced into the SP.
Claims that UKOG will bag when they win the SC are as wrong as claims that PPP would bag when trading in their shares resumed...
Of course, UKOG's own RNSs have never mentioned that the SC Case is holding up any work anywhere.
In FACT, their own RNSs show that work to prepare the site for converting HH-2 to a water injector is ongoing.
RNS of 23rd Feb 2023
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that, as a necessary precursor to its planned Horse Hill-2z ("HH-2z") Portland formation water reinjection project, the Company has now installed three, shallow, groundwater monitoring boreholes at its 85.635% owned producing oil field.
RNS of 15th August 2022
Preparatory work towards converting HH-2z into a produced saline water reinjector continues.
What everybody does know is that your beloved Sarah's case has no merit and the SC will find in UKOG's favour.
As for hanging on DL's every word, I just love this part of his Wiki page;
Corporate Governance Related Criticisms
He has been accused of frequently "promoting a company, pushing up the (price of its) shares, then raising cash by placing new shares — and (thus) diluting the holdings of the early investors",[15] described as "a familiar tale with most companies he promotes".[16] His defence has been that "You can’t build a business on bottle tops.".[17] Furthermore, he has argued that it's not accurate to claim that "all his ventures have turned sour".[18] Although finance commentators have noted that most of the "hundreds" of companies he has been involved in, and "stock promoted" for, have failed to generate any successful shareholder returns.[19]
In 2009 he was one of a group of claimants, claiming that he had been libelled when an investment publication in South Africa had described the group of executives of one of Lenigas' ventures as "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders."[20] The High Court of Justice of the United Kingdom rejected Lenigas', and the other claimants' libel claim, and found in favour of the publisher.[21]
Penguins,
You are forgetting the other RNSs that UKOG have lodged.
Not only do they not mention the SC Case holding up work, they specifically describe work that is being done to prepare the site for HH-2 conversion to a water injector.
RNS of 23rd Feb 2023
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that, as a necessary precursor to its planned Horse Hill-2z ("HH-2z") Portland formation water reinjection project, the Company has now installed three, shallow, groundwater monitoring boreholes at its 85.635% owned producing oil field.
RNS of 15th August 2022
Preparatory work towards converting HH-2z into a produced saline water reinjector continues.
JustBe,
Come on - you know Adrian doesn't like facts.
Just like he doesn't like being reminded of past postings of his - for example when he said that PPP would bag or even multi-bag when their shares were re-instated to AIM. But they didn't.....
Or when UKOG's own RNSs prove to his claims that the conversion of HH-2 to water injection is being held up by the SC Case are wrong - which everyone knows his beloved Sarah will lose.
Not asleep.
Even the ramptastic crew couldn't make a positive comment out of this RNS and us LTH's have been resigned to our fate for some time, so really nothing to say about the expected dilution to 3 shares for every man, woman and child on the planet.....
The P&D's used to be fairly predictable around the timing of specific events, but that's not the case anymore.
One might be manufactured around the SC decision, but nobody knows when the judgement will be issued, so nothing concrete for the ramptastic crew to plan around. Besides, pretty much everyone and his Dog is sure that the SC will find in UKOG's favour, so the result is already built into the SP.
HH-2 conversion into water injector. The saving is £250k a year. Not much, but not to be discarded either. However, the lack of progress by UKOG in actually performing it is a concern, considering their RNS's that they'd competed the water table monitoring wells and other surface preparation. And no, UKOG's own RHS's show that the SC Case is not a reason for the delay.
My guess (and it's a guess) is they can't do it with a Crane and need a W/O Rig, but the suitable Rigs are all tied up by Anglo American on their Potash project until at least Jan / Feb next year. The lack of clarity on timing means that the opportunity for the ramptastic crew to manufacture a P&D is limited.
Loxley farm-in. Still no sign of the 'pre-planned' farm in and there are no obvious candidates raising their head above the parapet - and why would they after the disastrous CPR?
Besides, any announcement of a farm-in would lead to a spike in the SP, not really suitable for a P&D. To actually do the work programme, UKOG will need to raise more cash and that's not going to happen any time soon. Again, lack of clarity of timing is an issue for those wishing to manufacture a P&D.
PPP Farm in on HH. Aside from the problems that PPP are facing, the fact that ALBA haven't agreed to the farm in - in my opinion - indicates that they don't want DL involved in HH again after the mess he left last time and what he did to Regency Mines (now Corcel). There might be a spike if the farm-in is finally agreed, but they are (unsurprisingly) already behind their advertised schedule for the 3D Seismic. Again, lack of clarity on timing means no real chance to manufacture a P&D.
Turkey. Some are saying that the onset of Winter might be used as an excuse to delay the work. There is nothing in the work program that would be held up because of Winter conditions, so any announcement of that causing delay is just that - an excuse, not a reason.
As for the idea that there is anything remotely commercial to be found in Pin-1 which will cause an increase in the SP - laughable.
Again, lack of clarity on timing will make it difficult to manufacture a P&D on any RNS of the test program beginning.
"i am well researched "..
ROTFLMAO.
No, you are not.
Actually, a good guide for any newcomers on this board would be "If Adrian posts something and then says "Fact!" - he has almost a perfect record of being wrong.
Just like when you posted your share buys at 0.18p, 0.06p, 0.05p, 0.0329p and 0.0327p, all the time saying UKOG was going to bag.
Ah well, I have better things to do today. I'm off, so you can play with yourself on here - let the door hit you on the way out when you get tossed off this board by Admin.
BTW, Ocelot says he hasn't filtered me, so again you are spreading a falsehood.
And I challenge you put up a post of mine where I have been spreading bile to put off buyers.
I'll wait.
But I'll be waiting a long time, because you can't.
I haven't posted on here for a week - but don't worry, the next time you appear under a fake ID, I will be reporting you to Admin as someone with a lifetime ban from LSE using a fake ID to spread misinformation.
Again.
No Adrian, you did it yourself.
You can try and play the victim by blaming other posters, but the simple fact is you have a lifetime ban from LSE, so it shouldn't be a surprise to you when Admin boot off your latest fake ID.
Just like they will next time.
And the next time.
And the next time....
Incorrect PBoo.
Adrian was using his 'tanker trick' in October / November / December last year to claim that HH production had somehow doubled to over 100 BOPD.
Of course, he was strangely quiet when the subsequent NTSA figures showed he'd been...'economical with the truth'....
From my current filters, they must be posts from Stevesand and HmmmNice.
You two add absolutely nothing to this board with your incessant posting.
HmmNice - all you do is throw cheap insults - I never saw anything else in any of your posts.
Stevesand - the same, apart from when you threw in (frequently), tirades about the DSF.
"Preventing people being taken in by the rampers" doesn't wash as an excuse - there were more than enough of the 'realistic' crew to point out the flaws in any of the ramptastic crews posts before you came along.
Quite frankly, if anyone looks at where UKOG are now and doesn't understand the consequences of DSF, then they deserve to loose their money for being stupid.
You were both obviously on here before under different ID's and have lost money on UKOG (HmmNice admitted to that on his very first post).
Get over it.
I never saw any post from either of you that actually contained anything along the lines of a reasoned argument to rebut a rampers post.
Between the two of you, you have turned this board into a toxic environment where it's almost impossible to have a decent discussion.
You are on the same, nasty, childish level as Adrian, although at least Adrian provides comedy relief - you two don't even do that.
Why don't you do us all a favour and the two of you copulate off to some other paddling pool and play with yourselves there.
I always like this portion of DL's Wiki entry;
Corporate Governance Related Criticisms
He has been accused of frequently "promoting a company, pushing up the (price of its) shares, then raising cash by placing new shares — and (thus) diluting the holdings of the early investors",[15] described as "a familiar tale with most companies he promotes".[16] His defence has been that "You can’t build a business on bottle tops.".[17] Furthermore, he has argued that it's not accurate to claim that "all his ventures have turned sour".[18] Although finance commentators have noted that most of the "hundreds" of companies he has been involved in, and "stock promoted" for, have failed to generate any successful shareholder returns.[19]
In 2009 he was one of a group of claimants, claiming that he had been libelled when an investment publication in South Africa had described the group of executives of one of Lenigas' ventures as "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders."[20] The High Court of Justice of the United Kingdom rejected Lenigas', and the other claimants' libel claim, and found in favour of the publisher.[21]