Member Info for ZYX098

Maidit,

"when partner funding comes" - still you continue to post wild speculation as if it's fact.

Why would there be a need for an H2 power hub in Dorset? There's no H2 supply and insignificant demand compared with the industrial North East - which also happens to be a core area for Labour voters, unlike Dorset.

Your feeling about DL is a complete fantasy - like your prediction of a 30% rise that was due to happen on last Friday.

Why would DL get a TV interview on anything to do with UKOG? The much vaunted (by the ramptastic crew) PPP buy-in to HH has quietly disappeared, never to see the light of day again.

He's not even associated with UKEn at all.

And since you try to ignore DL's past history of serial failure for shareholders (while lining his own pockets), let me remind you of this snippet from his 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]

Your attempts to ramp UKOG are becoming ever more desperate.

Maidit,

Of course others will react with disbelief.

Disbelief that anyone could possibly think that Technip being awarded a FEED contract with by BP to design a facility in Teeside has anything at all to do with UKOG.

'Grasping at straws' doesn't even come close to describing the desperation shown in trying to connect the two.

IBug,

The June production figures show that whatever attempt at intervention UKOG made in May, it failed to halt the rise in water cut and that the water production issue which first cropped up in March hasn't improved.

In fact, it's got much, much worse;

Month / BOPD / BWPD / % Water cut

Feb 24 / 42 / 24 / 36.4

Mar 24 / 39 / 27 / 41.1

Apr 24 / 35 / 26 / 42.8

May 24 / 24 / 19 / 43.7

June 24 / 30 / 32 / 51.6

Water disposal costs were the principle reason why UKOG wanted to convert HH-2 to a water injector, so they could reduce costs and also hopefully increase Oil production by keeping HH-1 on production for longer periods.

Yet despite having had permission (not affected by the SC case) for over two years (RNS of 5th May 2022) and completed the surface work (27th Feb 2023 RNS), UKOG have yet to announce when they will do the conversion.

It would be a quick win (UKOG themselves said it would save £250k a year in their RNS of 27th February 2023 - and would save more now with the increased water production ), so have they redone the field economics and decided the NPV doesn't warrant it?

The long promised but never issued CPR for HH would go a long way to helping explain their decisions.

But instead of actually doing work that would improve their bottom line, they are wasting the cash raised from the placings chasing the H2 dream and paying the BoD's wages.

It's like their foray into Turkey - chasing a dream of future riches, which examination of the facts showed would be very unlikely to pay off, while UKOG ignore the problems with their main cash producing asset.

The sharp decrease in BOPD from Feb to Jun, combined with the step change in water disposal costs and drop in oil price means that HH is now barely breaking even and possibly operating at a loss.

It would be good if UKOG kept the markets apprised of issues with their major asset and what corrective actions they intend to take, but they never have and clearly that policy won't change any time soon.

In the meantime, they still have the liability of the £1.1 Million P&A and site restoration of BB to cover, plus outstanding cash calls from AME for the ongoing Turkey work and the P&A and site restoration of Pin-1.

Indeed, if HH is operating at a loss, that would pull the £2.5 - £3 Million P&S and site restoration of HH much further forwards.

Since UKOG & SCC will be in consultation over meeting the requirements of the absurd Supreme Court decision, I wonder if SCC (as the MPA for HH) will be looking over UKOG's financial status at the same time.

If SCC are, they won't be happy.

Gggg21

AimingLow is just a Norwegian cave dwelling Ogre.

He comes on here with a new ID at regular intervals and just insults people - he never has anything constructive to post.

Surely those that claim a 30% rise is coming tomorrow, then casually ignore those who have the temerity to point out their error (one of many), and continue to blindly promise "jam tomorrow!" are the desperate ones?

Although I feel it's misplaced, you have to admire his boundless optimism

Also - to his credit - I've never seen him resort to just lobbing insults around, unlike most of the rest of the ramptastic crew.

Maidit,

Amongst other forecasts you have made in the past was that the share price would rise 30% on Friday.

Unsurprisingly, given your track record of failure, it didn't.

So why do you think you have any credibility?

BTW, have you looked up the Well records for Dorset yet, and seen the quality of the salt that UKOG propose to use for leaching out Caverns, like I suggested?

The Well data is freely available here, if you want to look;

https://mapapps2.bgs.ac.uk/geoindex/home.html?layer=BGSHydrocarbonWellData

But I'm sure you won't, because then you'd see that the salt is riddled with claystone, anhydrite and dolomite layers - all of which are not conducive to the salt being leached into caverns.

Resorting to your previous modus operandi of spamming the board multiple times with the same post, before you get tossed off - again.

Is an LOS a binding agreement? No.

Is an LOS a contract? No.

Is an LOS a guarantee of financial support? No.

Is an LOS worth the paper it's written on? No.

Have Sumitomo committed to providing financial support to UKOG? No.

Have SGN committed to building a pipeline to any of UKOG's proposed sites. No.

Have RWE committed to using salt caverns in any of UKOG's sites for storage? No.

Have any of the "JV imminent" promises come true? No.

Was this thread started by a desperate ramper? Yes.

Maybe he believed Madits promise last Thursday, that the share price would rise 30% on Friday.

Given Madits previous track record, it was not a great surprise that his forecast was wrong.

Again.

Tricky,

Instead of posting a cheap insult, perhaps you should look at what is happening with UKOG's only major asset.

Then think about the long term implications for the Company, as they rely on the cash flow from HH to supplement the placings cash to keep the lights on.

The June production figures show that whatever attempt at intervention UKOG made in May, it failed to halt the rise in water cut and that the water production issue which first cropped up in March hasn't improved.

In fact, it's got much, much worse;

Month / BOPD / BWPD / % Water cut

Feb 24 / 42 / 24 / 36.4

Mar 24 / 39 / 27 / 41.1

Apr 24 / 35 / 26 / 42.8

May 24 / 24 / 19 / 43.7

June 24 / 30 / 32 / 51.6

Water disposal costs were the principle reason why UKOG wanted to convert HH-2 to a water injector, so they could reduce costs and also hopefully increase Oil production by keeping HH-1 on production for longer periods.

Yet despite having had permission (not affected by the SC case) for over two years (RNS of 5th May 2022) and completed the surface work (27th Feb 2023 RNS), UKOG have yet to announce when they will do the conversion.

It would be a quick win (UKOG themselves said it would save £250k a year in their RNS of 27th February 2023 - and would save more now with the increased water production ), so have they redone the field economics and decided the NPV doesn't warrant it?

The long promised but never issued CPR for HH would go a long way to helping explain their decisions.

But instead of actually doing work that would improve their bottom line, they are wasting the cash raised from the placings chasing the H2 dream and paying the BoD's wages.

It's like their foray into Turkey - chasing a dream of future riches, which examination of the facts showed would be very unlikely to pay off, while UKOG ignore the problems with their main cash producing asset.

The sharp decrease in BOPD from Feb to Jun, combined with the step change in water disposal costs and drop in oil price (Brent is now $77.05, was averaging $84 in Feb) means that HH is now barely breaking even and possibly operating at a loss.

It would be good if UKOG kept the markets apprised of issues with their major asset and what corrective actions they intend to take, but they never have and clearly that policy won't change any time soon.

In the meantime, they still have the liability of the £1.1 Million P&A and site restoration of BB to cover, plus outstanding cash calls from AME for the ongoing Turkey work and the P&A and site restoration of Pin-1.

Indeed, if HH is operating at a loss, that would pull the £2.5 - £3 Million P&S and site restoration of HH much further forwards.

Since UKOG & SCC will be in consultation over meeting the requirements of the absurd Supreme Court decision, I wonder if SCC (as the MPA for HH) will be looking over UKOG' financial status at the same time.

If SCC are, they won't be happy.

I see Adrian and Ells have been keeping themselves busy today....

Just the same as me moving closer the becoming a multi-millionaire by buying a Lottery ticket...

But Madit, yesterday you were claiming the share price would rise 30% today.

That was as accurate as your other forecasts, wasn't it...

Whispered any other big Company names who will buy into UKOG to yourself yet?

ROTFLMAO!

Whispering to yourself?

Anyone else you want to try and link with UKOG?

GSK?

Unilever?

BAE?

Or will you just list every FTSE 100 Company and throw a few Overseas one in for god measure?

Your prediction yesterday of a 30% rise today hasn't aged well either.

Actually, just like all your other predictions.

Did the planning for two of those caverns.

Two major problems were finding enough fresh water for the leaching process and then disposing of the salt saturated brine that is returned - millions of cubic meters. Both of which are much worse problems in the Dorset area.

Took 3 years just to leach out each (relatively small) cavern and - unlike the diagram that was on UKOG / UKEn site - the Wells have to be vertical, as the movement of the leaching string in a deviated Well causes too much wear on both the casing and the leaching string.

Only if you find factual information posted by two people who actually work in the Oil industry boring...

I installed mine late last year.

Initially thought payback would be in the 12 - 14 year period.

Looks like it's going to be 10 - 11, but I do have an unshaded South facing roof with a great pitch angle.

I use the Octopus Flux tariff - makes it cheap to charge up the battery at night and export all excess PV power, discharging what I don't need from the battery in the 4pm-7pm period to get the best export tariff.

Anyone who thinks BP are even aware of UKOG, never mind looking to take them over, need to remove their welders glasses and look at reality.

Saying someone on another site is listening to someone who works for BP is typical 'friend-of-a-friend-of-a-friend' rubbish.

Such claims of being a take over target by a Major have been made on here many times before - all complete nonsense.

It sounds like those posters who suddenly appeared on here claiming to be in Istanbul and that UKOG's as yet unannounced huge discovery in Basur was the talk of all the bars.....

I suppose next it will be the old "someone will buy UKOG to take advantage of the huge tax credit available on their losses" excuse.

The thin end of the wedge, caused by an absurd SC decision.

The EPL and zealot like attitude of Ed Miliband has already seen investment fleeing the UKCS.

If the tree huggers succeed, the flight will turn into a stampede that no amount of action by HM Govt will be able to stop.

We will loose 200,000 high paying jobs - which will not be taken up by the Renewables Industry, despite the claims otherwise - gas & oil production levels will fall off the Cliff, Field Abandonment decisions will be brought forward and Govt revenue will dwindle to virtually nothing by the end of this decade.

In the meantime, those calling for the cessation of new hydrocarbon production by the UK ignore that the UK's oil consumption will drop by less than 15% by 2040 and UK home produce supply will drop to just 20% of demand. This study was done before the ruinous EPL devastated the future of the UKCS.

https://www.statista.com/statistics/749076/projected-uk-oil-production-demand/

By 2050, even if we meet our Net Zero target (and the UK is rated in the top 10 Countries most likely to according to a report in the June 2023 edition of 'Science'), we'll still need fossil fuel (i.e. Gas) for around 25% of our electrical power.

https://www.gov.uk/government/publications/modelling-2050-electricity-system-analysis

So our Imports will rise steadily, at a ruinous cost to the UK balance of payments.

And while we saw our legs off at the knee, Norway (90+% powered by renewables) continues to explore for more fossil fuel reserves - reserves that we know they will need to supply UK demand.

BTW, I've yet to have anyone explain to me why we are still paying a Windfall Profits Tax more than 2 years after the prices returned to pre-Putin invading Ukraine levels, or why it's been extended out to 2029.

So you admit that you are a Troll who has been banned by the LSE before.

And thanks for proving my 3rd point in your reply as well.

So your fixation with shorters means that you classify anyone who dares to disagree with you, or point out where you have been wrong, as a shorter.

And yet so far nobody - aside from some vague references to 'look it up on YouTube' - has been able to show how a PI can short an AIM share.

Perhaps you have been watching too many conspiracy videos on YouTube...

1Villian,

Judging by your posts on other boards as well as UKOG, it seems you have a fixation about shorters on AIM.

Judging by your posts on other boards as well as UKOG, it seems you ramp a share and then blame these mythical shorters when your predictions are wrong.

Judging by your posts on other boards as well as UKOG, when someone has the temerity to point out where you are wrong, you resort to insults - sly or otherwise.

Judging by your posts on other boards as well as UKOG, you must have been banned under a previous ID and are using a new one for your ramping efforts.