Member Info for ZYX098

Conrad,

I actually run drilling rigs for a living, and have done for a couple of decades - so you could say I'm in the right job.

AME didn't think that Pin-1 was worth drilling, which is why UKOG are funding 100% of it.

The cost of Pin-1 has just gone up significantly as they now admit they'll have to run e-logs, 7" casing and then cased hole DST any potential zone of interest.

You are welcome to check my posting history to see if I've disappeared.....

And there's another one.

Tell me JR90 (or Ells..), why do you claim that it was the TR-1 RNS notice that caused the share price to fall, when the timing of the share price collapse clearly shows that it was the testing RNS?

Morefondle,

Some of us 'derampers' did point out PRIOR to drilling that drilling on a structure where there is an oil seep on top of the structure is a bad idea, because it means the trap has been breached.

Some of us 'derampers' pointed out PRIOR to drilling why Pinarova-1 was a poor location to drill, because of what the Kezer-1 Geothermal Well - just 400m away - showed.

Some of us 'derampers' pointed out that UKOG had not released a pre-drill structure map, reserves estimate or CoS for Pin-1 - all red flags.

Some of us "derampers" gave very good reasons as to why PI's needed to be wary of UKOG bigging up the seep into a shot hole, while ignoring Kezer-1.

But in all cases were shouted down by the ramptastic crowd who (without any logical thought or reasoning) claimed we didn't know what we were talking about and spouted off fantasy numbers for what the reserves and share price would get to.

Well look where we are now.

And since you obviously haven't twigged yet, they are already in the Hoya target formation.

BTW, last time I checked oil floated on top of water...

Where are the ramptastic crowd now?

They've disappeared, run for the hills taking the money they made from duping innocent PI's into buying into this BS.

Where are the 'derampers'?

Still here - continuing to call out the very few remaining ramptastic crews BS.

"Trust me"??
Yeah, right.

You people are disgusting examples of human beings.

One poster (I wonder who....) pointed out that the photo showed that the majority of the sample was water, and that they needed to use an emulsion breaker on it to separate the two.

But no, the rampers claimed that it was 'light sweet oil' and that the water in the photo was actually drilling mud.

FFS.

Rocky's Wife,

You are so, so predictable.

Appear under a fake ID - tick.
Make statements which vary depending upon your trading position that day - tick
Resort to cheap insults when found out - tick
Whine that you are being picked on - tick.

Off to lunch - I don't expect you'll still be here by the time I return.

ROTFLMAO!!

You never did get it, did you?

Even though I've used it for several months.

I'll give you a clue, since you clearly need it - what's the name of Rocky Balboas wife?

Never took you to be a snowflake before, if you think that's a phobic insult.

Obviously something new you've just thought of and will no doubt be frantically pressing the 'report' button on before you get tossed for being on the board under a fake ID - again.

Rocky's Wife.

The Hoya is their main target.

They are already in the Hoya.

All in the UKOG RNS's, if you bothered to read them.

Rocky's Wife;

Resorting to cheap name calling already? How sad.

Nope, from the Chairmans statement in the AME annual report;
"the costs are carried by our JV partners"

Paulio,

Read your first post again;

"Ok, well I have worked on BP rigs 3 years of my life and Esso in Southampton exploration"

Rigs and Exploration are both very different to working on a refinery, which is way downstream.

Yup - took 19.48% last week in a very rare foray (for me) into short term trading, as you could see this ramp coming from a long way away.

But no, not out - still got UKOG shares from a while back.

You can call it de-ramping if you want, but so far there has been a conspicuous lack of response to what I post other than cheap name calling.

Actually, if you can be bothered to look back at the "What to watch for in the next RNS", and "Possible timing for next RNS announcement" threads that I started, I've been pretty accurate so far.

Welcome back Rocky's Wife - bit early for you this week?

Paulio - you said you'd worked on Rigs for BP and then I presumed you meant the same for Esso.

From what you are now saying, you actually worked downstream, since Fawley is obviously a refinery and way downstream from a drilling operation?

W.R.T Turkey, UKOG only carried AME up to a maximum of $5 Million which was supposed to cover some seismic and Basur-3.
After that it was supposed to be 50/50 share of costs, but AME aren't taking part in Pin-1, so they clearly think it's not worth drilling.
Basur-3 was an unmitigated disaster, so it looks like Pin-1 is a last throw of the dice by UKOG to manufacture a P&D so they can get a placing away to fund their forthcoming UK Operations.

The Eid may have delayed them (though in reality, it shouldn't - Rigs don't shut down for Holidays, whether Islamic, Christian, Hindu, Pastafarian etc).

Swabbing is a painstakingly slow process - especially since the photo shows them using a Crane and not a Slickline Unit.

They mentioned that the onset of oil shows coincided with losses - i.e. they hit a fracture.
That means that they'll have to get the all the drilling fluid they lost into it back out of the fracture before they get to the formation fluid.

I'm not seeing any light towers in the photos, so they may be doing the swabbing operation during daylight hours only. You want to have good visibility of what may be coming up during swabbing.

JR90,

You are using deflection to avoid answering a question.

Now where have we seen that before?

What strong fundamentals?
A photo of a sample from Pin-1 that was mostly water?

Paulio11,

Worked on BP Rigs in what capacity?

Are you retired, as Esso haven't been operational Onshore the UK for decades?

AME have a lot of experience in the area, all of which shows that nothing will be transformational for UKOG as they are small accumulations that take a lot of Wells to delineate and they have a very short production life before they either deplete or water out.

The conversion of HH-2z to a water injector will certainly help (surprised it's only £250k). Even if HH-3 is drilled, it won't be 'transformational' and at best add another 50-70 BOPD production.

IMHO, Loxley is their best bet at a transformational project, but there are a lot of reasons to be very wary of it.
While UKOG have approval to drill Loxley (claiming they are waiting on the Supreme Court case is nonsense - the eco-warriors will loose), the CPR only showed 2C reserves.
Nothing in the 2P category, although they keep calling Loxley a "discovery" and Loxley-1 an appraisal well and neither have they been able to get any other Operator to farm in.
Which is a concern in IGas's case, since the UKOG mapping shows much of the structure going into their block.

You refer to '7 more tests to go' - what are the other ones?

I fully agree that we should be encouraging UK Companies and UK oil production (removal of the windfall profits tax and streamlining the onshore planning process would both be a big help!), but blindly ramping a share in the face of evidence to the contrary doesn't help.

So you are ignoring the fact that the 'shorters' have been way more accurate than the ramptastic crowd?

That's a fact, BTW.

Since you are so confident in your assertion, perhaps you could answer these questions;

Why haven't UKOG produced a pre-drill structure map or reserves estimate?
(That's a fact.)

AME are the Operator and have a lot more experience of the area.
So why have they have declined to take part in Pin-1 and so UKOG are paying 100%?
(That's a fact.)

The RNS announcing that Pin-1 would be drilled stated that the Hoya was the main target.
They are already in the Hoya, so there isn't another main target to get to.
(That's a fact.)

Kezer-1 was drilled on the same structure, just 400m away from Pin-1, and found predominantly water.
(That's a fact)
So why should Pin-1 be any different?

The nice photo of the oil sample that UKOG put up on Twitter was predominantly water and needed an emulsion breaker to break out the oil.
Same as what was found on Kezer-1.
(That's a fact.)
Since oil floats on water, why should more oil be found deeper in the same formation?

BTW, if you know how to short UKOG, please explain how, as we've consistently been told on this board that you can't short UKOG shares.

Paulio,

No, if you'd really been on here for years, you'd know that I actually run drilling rigs for a living - so your accusations of being "anti-oil" or a short seller (which you cannot do with UKOG shares anyway) are pathetic.

Instead of which you come on here and post that you are "certain" this project in Turkey will be transformational.

Rather than just blindly ramping, can you explain why you are certain it will be transformational?

So far UKOG have conspicuously failed to produce a reserves estimate for Pinarova-1, AME are getting UKOG to pay 100% of the cost of Pin-1 and we already have the evidence from Kezer-1 (just 400m away) as to what can be expected from Pin-1.

Any answers to those points?

Paulio,

So you don't want to hear anything other than positive posts?

If you have really been on there for years, then you'd know the "parasites" as you call them have been far, far more accurate in their predictions as to the outcomes than the ramptastic crowd.

But according to JR90, the MM's aren't allowing anyone to buy....

Uber ramper alert!

JR90,

They are already in the Hoya target zone - from the RNS;
"Drilling rig secured for new Pinarova-1 shallow oil exploration well (UKOG 50% interest), designed to test shallow Eocene Hoya light oil prospect, of some 9 km² areal extent, 300-645m below surface. Pinarova lies beneath an active light oil seep found last summer in a seismic shot hole, 6 km north of the Company's Basur-1 oil discovery.