Member Info for ZYX098

BTW, if you do think that someone is running multiple accounts, you could always ask Admin to check....

Ohhhh look, a new attempt at deflection!

Odd claim Ells, considering your the one who actually has been on here multiple times with fake ID's.

But - in the words of Kenny Chesney - I am the one and only and I am ZYX098.....

And no, RR won't go to 50p - your claim on that holds as much water as your other predictions.

My bet is that RR will be at 250p by this time next year, presuming they have stated that they will restart paying a dividend by then - and I've put my money where my mouth is there too, as I bought in at 79p.

SRBS,

The 3rd May RNS was post reaching TD.

When the Well was spudded, the Twitter photos and film clips clearly showed them drilling the 12 1/4" hole without a BOP Stack on. This was confirmed in the RNS issued when they set 9 5/8" casing and mentioned installing & testing the BOP Stack.

To wait days for a final interpretation is an absurd excuse by UKOG - it's available on location within a couple of hours and we make testing / completion decisions based on it all the time.

They already have what they think is a good enough interpretation, otherwise they wouldn't have perforated the 9 5/8" casing - they'll have had to cement off the 8 1/2" open hole section first which effectively rules out any testing in the 8 1/2" section.

By sending the raw data away for further interpretation, all that means is that UKOG will use Nutech to tweak some of the log parameters to put the best spin on it possible and issue an RNS indicating "potential zones worth further investigation" which will quietly be forgotten about in future.

Well that clearly triggered the Ramptastic crew.

But did any one of them attempt to refute what I'd said, or did they just resort to their usual litany of cheap insults?

The truth obviously hurts...

Richar - when you actually post something other than cheap insults, I'll happily provide an answer.

Lots of green boxes, so I presume The Lucky One has been working overtime.

And to answer your question Ells, over the years I have made a very substantial amount from my various investments in Oil Companies.

How much have you made on your assertion that RR (current price 149p) was doomed and would fall to 50p?

SRBS,

They drilled the 8 1/2" hole section with a BOP in place.

The current zone they are testing was drilled in the 12 1/4" hole - with no BOP in place.

Looking at the Twitter photo, there's no test tree on the Well and no DST equipment on the rig location.

They obviously don't actually expect it to flow, as there is no way to shut the Well in!

They are just swabbing and hoping to get an oil sample to surface that they can hang their hat on "encouraging, further investigation blah blah blah"..

Obviously the much vaunted further log interpretation showed nothing in the 8 1/2" section, so they are testing inside the 9 5/8" casing, as previously stated.

Remember, this formation isn't their primary or secondary target, isn't the 'seismic anomaly' that they were targeting and this hole section (12 1/4") was drilled without a BOP Stack on.

Vernonya,

Actually surprisingly few people at the Rig site know what is really going on, even during normal operations.

For a 'sensitive' DST, strict protocols are in place to stop any information leaking out, even amongst the Rig crew and service hands.

In this case, apart from the UKOG Geologist (if he is still there), the crews would all be locals.

Actually, the UKOG Geologist is probably a local too - just paid by UKOG.

All would be subject to NDA's, either directly or through their Company.

They are very unlikely to have direct access to the UK Stock Market and in any case, suspicious share purchases immediately before an RNS is issued are usually investigated.

In extreme cases, we even shut down all comms from the Rig except through the Company Man - more difficult to do Onshore than Offshore, but easily enough done - especially in areas with no mobile phone coverage.

Just curious - if anyone did go what was the Q&A session afterwards like and if anything came out of it.

Penguins,

I very much doubt they took anything other than a cement bond log in the 9 5/8".

Under some circumstances, you can do through casing petrophysical logs, but they are normally on cased hole wells that you are looking to reperforate or re-enter many months later.

These logs have to be ordered weeks (usually months) in advance as they are thin on the ground, and cost the proverbial arm, leg and torso to run & interpret - well out of UKOG's budget for the Well and not something they would have had on Standby.

In addition, they are only really useful in sands as they need a minimum of 15% porosity to work in - something that clearly won't be present in the Carbonate sequences that we have here.

Some posters are hanging their hat on UKOG sending the logs away for further interpretation.

Wellsite interpretation is very good these days - it has to be, because you don't want a $1.5 Million per day Drill-ship hanging around while you decide whether or not to test.

So that means there's nothing there in the 8 1/2" section - which isn't a surprise considering they are only 400m from Kezer-1.

UKOG sending the logs away just means they want a 3rd party to tweak the analysis parameters enough that they can save face by saying 'encouraging information for future exploration' or some such.

Also, at least one poster has said that the logs could show if there is oil down around 2,500 - 3,000m.

Absolute nonsense - the only log that can look ahead is seismic-while-drilling, which can only provisionally tell you where the next formation top is and UKOG were certainly not using that.

These speculating that there are potentially 1+ Billion BBLs present are forgetting that UKOG themselves only claimed a 9 sqkm structure - if they'd said a 90 sqkm structure, that would be closer to the mark for a field that size.

Ocelot,

Unfortunately not - on the way to West Wales for the long weekend.

Hmmmm - after accusing me of 'flooding the board' by making a single post, the ramptastic crew have been busy this morning with numerous posts themselves.

Yet not one of their posts addresses any of the questions I have raised.

Not one.

Instead, they resort to their tired old playbook towards the realists of deflection & cheap insults, combined with accusations of "not being invested" or being "anti-oil".

So predictable.

It would take a long time to get it down to the six single syllable words that is all the ramptastic crew have the attention span to read before they are triggered...

Trish,

It's the common tactic of the ramptastic crew.

They flood the board with copy and paste nonsense, so any awkward posts which bring some reality based on facts, knowledge and experience disappear off the first page by the time everyone wakes up in the morning.

Somehow my single post is 'flooding the board', but it clearly touched a very raw nerve with Billy.

BTW Billy, I've never posted at 6am - I leave that to the ramptastic crew and wait until later to have my fun with them....

Billy,

I didn't need to dissect the RNS - the sheer ludicrousness of doing a DST based solely on where they smelt oil should tell anyone with a modicum of common sense that UKOG are desperately scraping the bottom of the barrel.

But I can if you want....

How can I flood the board with one post in the last couple of days?

Maybe I should accuse you of flooding the board by posting twice on the same thread in the space of three minutes?

W.R.T the board questions, us LTH's know that many should have been answered by UKOG several years ago - but they have been conspicuously silent whenever 'bad' news should be forthcoming.

Compared with UKOG, the likes of Angus and IGas have been positively garrulous.

With modern cyber-logging units, you know within a couple of hours at the wellsite whether or not you have something worth testing.

They will produce a depth based print out annotated (in pretty colours!) with the lithology, porosity, mobile and immobile formation fluids (gas, oil, water), potential pay zones and recommended test intervals.

Permeability cannot be directly measured, but it can be implied.

The big drawback is the resolution means that the logs cannot see what the fluid is in the fractures.

It is not uncommon for the formation matrix to contain oil and/or gas, but the fractures to contain water - and that is what is produced on test.

From experience, that is a real bummer when you've been working on a Well for a year, the indications during drilling looked good (drilled gas or oil shows on cuttings) and the logs say it's gas, so you commit $6.5 Million to running a 7" Liner and mobilising the test kit - and all it produces is water....

Anyway, when they say "still awaiting final interpretation", what it means is that they didn't like the initial print outs produced on site, so they have had the raw data sent to an independent interpretation outfit (e.g. Nutech - who UKOG seem to like) and asked them for a second opinion.

A.K.A. the well site interpretation showed nothing worth testing in the 8 1/2" hole section and UKOG are desperate, so they'll be asking Nutech to 'tweak' various parameters to make it look as good as possible.

Questions for the board tomorrow...

1. When UKOG had the opportunity, why didn't UKOG complete HH-1 as a dual Portland / Kimm producer as you stated you would?

2. What did UKOG see in the Kimm EWT that lead you to state in the Loxley submission to SCC that it was uneconomic at HH?

3. Why did PI's have to wait for the submission to the SCC to find out that UKOG thought the Kimm was uneconomic, rather than UKOG announce it in an RNS or state it (along with reasons why) on their website.

4. What is the current time frame for converting HH-2z into a water injector and commencing water injection at HH?

5. What is the planned time frame for shooting the 3D seismic over the HH structure? What is involved in the permitting process and has work on this started?

6. After completing the 3D acquisition, how long before a decision is made as to whether or not HH-3 will be drilled? How much say will PPP have in this decision?

7. Will HH-3 be;
A) A horizontal producer in the Portland
B) A deviated producer in the Portland
C) One of the above with a Kimm exploration leg included
D) A potential dual Portland / Kimm producer.

8. What is UKOG's current cost estimate for the 3D seismic, plus each of the above options, considering that PPP's involvement is capped at £4.6 Million?

9. What is the planned time-frame for drilling HH-3 and is it planned to be drilled back-to-back with Loxley?

10. David Lenigas is stating that the Kimm at HH can now be produced using 'new technology'. Please explain what the 'new technology' is that he is referring to and how can it be applied to the Kimm.

11. Has the Supreme Court case in June held up any of UKOG's operations, considering that nobody expects the case to be successful? Do UKOG believe that they will be awarded costs?

12. How much do UKOG need to raise to cover the prospective HH& Loxley work programs to the end of 2024?

13. Given the expenditure on Pinarova-1 will clearly exceed the previously advised $600k estimate, will UKOG need to raise further funds to cover Turkey Operations?

14. A statement in their Annual report by AME's Chairman implies that UKOG are paying 100% of the costs on Pinarova-1. Can you confirm if this is correct?

15. The RNS states that cased hole logs were run across the 9 5/8" on Pinarova-1. Were these just for cement evaluation, or did they include logs for petrophysical evaluation as well?

16. Why was the TD of Pinarova-1 deepened from 550m to 600m?

17. There is no mention in the RNS of running the 7" casing - does this mean that UKOG do not intend to run it and that there are no potential productive zones below the 9 5/8" Casing shoe?

18. UKOG did not publish any estimate of potential reserves at Pinarova-1 prior to drilling. Why not? What is the current estimate?

19. What is the planned schedule and work program for Basur-4?

JR 90,

How do you know what I've said?

You claimed that you have me filtered...

In order to insult me, I first must value your opinion - and that is something that you have so far failed to provide any evidence as to why I should do so.

After all, let's look at your last two statements in this thread;

"The board cannot do a placing for the duration of the Turkey drill and Testing campaign"
Completely wrong - the Board can do a placing any time they want, and indeed must be kicking themselves that they missed the last P&D spike.

"100% liable in Court"
Completely wrong - you are showing that your total ignorance of the oil industry is matched by your total ignorance of UK libel law.

Your ignorance of those is matched by your inability to read Annual Reports;
While UKOG state that they are fully funded for Turkey, that is certainly not the case for the UK work program they have coming up, and they will need to do a placing to fund it.

Previously you have claimed that you could not sell any shares - but your very next post on the same thread a few minutes later claimed that the MM's were buying all the shares they could.
When challenged on the obvious problem with those two statements, you just threw your dummy out of the pram.

You can filter posters and stick your head in the sand all you want - it just means that reality will hurt even more when it hits.

Cardinal3,

I aim to please - but frequently miss ;)

My guess is that UKOG and AME are still 'discussing' the results.

UKOG will be desperate to announce it as a discovery, but it's AME's responsibility to report to the Turkish Authorities and they have to get their stories to match.

My thought is AME don't think there's anything there and it's not worth running the 7".

UKOG really want to at least announce that they are running the 7", as they know that if they don't, their share price will take a kicking and it will be more difficult to get away the placing that they need to fund the UK work program.

Forgot;

Why a TD of 600m instead of the 550m previously advertised?

Several possibilities;

A) Their interval velocities were out in their Seismic interpretation, so they didn't reach the planned TD formation until 600m.
- Unlikely with the offset information available.

B) They saw some encouragement in the cuttings and decided to keep going a little further.
- Doubtful, since the swab test apparently produced just formation water.

C) They originally didn't intend to E-Log the Well and needed to drill the extra 50m for a logging sump.
- Maybe, but 50m is 15 - 20m longer than normal for a logging sump.

D) When they worked out where the top of the Float Collar would be inside the 7" Casing, plus the sump needed to run the DST string, they needed the extra 50m to be able to test down to 550m.
- My favourite - cheaper to drill the extra meterage now, rather than try and drill out the 7" shoe track later (would need to source and use a 3 1/2" drill-string and keep the Water Well Rig longer).

Push2,

Out of interest, what do you do?

Many, many, many Moons in the oil industry myself - now running Rigs from the Operators side.