Member Info for ZYX098

Rocky's Wife;
"People are use to you now. And SP is in the rise as more people see through the trolls.imo"

Yes, people are used to you by now and yes, people see through you and know you are a Norwegian Cave Dwelling Ogre - which is why the share price has done absolutely nothing for the last five months, except fall and then flatline.

Must be soooo disappointing for you, spending all that time uber-ramping to no effect.

Failed 1st grade economics - tick

Failed 3rd Grade Maths - tick

Can't understand a financial report - tick

Rocky's wife,
Really not hard to find, even for you...

All UKOG's financial statements can be found here;
https://www.ukogplc.com/page.php?pID=82

Their last audited accounts are here:
https://www.ukogplc.com/ul/UKOG-ARA-FS%202021%20FINAL.pdf

You should take a close look at the pages where they post what their Overheads are, and their Summary page - the one where they show how much they've lost....

Rocky's wife being remarkably restrained for a change, but I sense he's reaching a tipping point...

Still wrongly assuming revenue = profit, which it doesn't.

Because in his mind, apparently there are no operating costs, even though UKOG themselves quoted £12 - £15/bbl for HH, and that was when HH was producing over 100 BOPD and also before it started producing water - which has to be trucked away at significant cost.

Also still wrongly claiming that UKOG makes money, when even their own annual accounts show that they don't.

Oh, and UKOG don't have a 10% farm in at Horndean, they have a 10% interest in the Licence...

No brainer - yes.

I agree with your sentiments ART123, but don't forget that SS stopped his monthly buying of shares just as soon as he could - even though it was a pittance of his annual salary.

But Jeremy Hunt is on record as being against any drilling at Loxley.

https://www.itv.com/news/meridian/2022-06-09/jeremy-hunt-condemns-government-decision-to-allow-gas-drilling-in-rural-surrey

https://www.farnhamherald.com/news/environment/was-south-west-surrey-drilling-decision-payback-for-mp-hunts-boris-vote-550254

https://www.bbc.com/news/uk-england-surrey-61743674

The No. 1 thing that HM Govt could do to secure our energy supplies is to drop the "Windfall" tax.

It has sounded the death knell of the UKCS, with Shell, BP, Harbour, Total, Equinor and EnQuest all saying that they are either cutting back expenditure, dumping assets or diverting investment elsewhere.

Which is exactly what happened the last time a windfall tax was put in place on the UKCS in the early 1980's by the then Tory Govt.

It took years for the sector to recover and the short term effect on production was disastrous (as oil production figures for the 5 years afterwards show).

And that's when the UKCS was in a lot healthier state than it is now.

What's worse, analysis by Economists afterwards show that the overall tax take actually dropped as a result of that windfall tax.

Unlike you and your ever more desperate ramping, I'm not stressed at all - just waiting for the Rig's current operation to finish so I can get to bed, and thought I'd entertain myself by calling out your BS while I have the time to spare.

And you clearly don't understand time zones, as a couple of days ago I specifically mentioned I'm not in the UK at the moment.

Rocky's wife; you think you are being clever, but all you are doing is making yourself look a bigger FOOL than normal.

And proving beyond a shadow of a doubt that you are back on here under a fake ID..

Less than £16k.

Big whoop.

But still £16k more than SS is prepared to buy after his obligation expired....

Rocky's Wife;

Why do you continually refuse to recognise that operating costs / taxes / overheads have to be deducted from the income?

Why are you using £1.50/ therm?

The current price is £1.40 and falling - despite the current cold snap increasing demand and renewables providing less than 15% of UK electricity supply at the moment.

https://grid.iamkate.com/

Why are you using 13 MMscf/d for production?

UKOG have stated that they will only be producing from a single Well, which will be around 3.5 MMscf/d.

Remember, the second Well will only be drilled in 2029 to maintain the plateau production rate.

All of which is predicated on the somewhat heroic assumption that UKOG actually find sufficient gas there to warrant development in the first place.

Didn't realise that the LSE were automatically censoring some words now!

Their software needs work, as sp**** is actually s--p--a--r--s--e..

Actually I'm with Ocelot this one.

If China continues to come out of Covid lockdown, there is a good chance that the excess capacity will be down to the barest minimum by mid-2024.

Most people don't realise that many of the OPEC Countries have not been able to actually meet their production quotas for the past couple of years.

Saudi does have a couple of million BOPD spare capacity, but nearly all of that is for heavy, sour crude which the market cannot take as the refinery capacity to process it is already pretty much saturated.

Saudi and the Gulf States recognise the potential shortage coming, as they are currently sucking all the available JU Rigs they can out of the SEA area.

$100 this year might be pushing it, especially with the coming recession in Europe and if China's journey out of Covid stalls, but it's certainly on the cards for next year.

Nothing looks suspect to Rocky's wife - despite the past history of UKOG being very, very careful when it comes to the wording of RNS's.

He not only takes what they say at face value, he then puts his own ramping spin on it, and subsequently gets upset - resorting to cheap name calling - when called out on his BS by those that actually know what they are talking about.

The basic fact is that UKOG cannot get anyone interested in farming into Loxley, simply because they cannot show that there is a viable structure there.

Without a farm-in, the amount of confetti they will have to issue for the pad construction and drilling the Well will be in the region of £7 Million. Even in the current buoyant oil market, that will be extraordinarily difficult to do.

Loxley is a waste of time and effort.

UKOG should do what they should have done all along - concentrate on maximising the production potential of HH by converting HH-2z to water injection and completing HH-1 as a dual producer.

If Rocky's Wife wants to troll through my past posting history, he will see that I said this when they initially announced their foray into Turkey.

Both of the work programs I mentioned above on HH-1 & HH-2z have been previously announced in RNS's as "future work programs" and there is nothing preventing UKOG from doing either of them (despite the claims of Rocky's Wife that Finch's pending SC case is stopping them).

Of course, UKOG have yet to state why the apparently superb results from the original Kimm DST's have resulted in them declaring that the Kimm in HH & BB is uneconomic (as per their submission to SCC) and therefore why they haven't yet converted HH-1 to a dual producer.

As well as that, I was under the impression that UKOG had said that any gas production from Loxley would be used as a feedstock for on-site H2 production.

So what does pipeline capacity for any export gas have to do with Loxley?

If UKOG had intended to export any gas production right from the start, then they should have done the basic scoping work of establishing network pipeline capacity availability, tie-in location, route mapping & permissions and then pipeline sizing, procurement & installation costs BEFORE they submitted the original application to SCC.

No good finding something if it costs too much to get it to market.

Got to laugh when Rocky's wife (a fire extinguisher salesman) claims to know more than someone who actually works in the oilfield..

Must be quite disheartening for him to see all his ramptastic efforts over the weekend destroyed by facts and logic, and then (to add insult to injury) see a damp squib of an RNS do absolutely nothing for the share price.

If he knew anything about the oilfield (evidence that he does is sp**** at best), then he'd know that a horizontal gas well will only produce 2-3 times that of a vertical well.

The figure of 5 - 10 times vertical well production rates is really only potentially achievable by a horizontal in a heavy oil field, with multiple fracs and ESP assistance.

I missed this while I've been busy the last couple of weeks.

Must have been something that Rocky's Wife posted under another nom-de-plume before he got tossed off the board.

Again.

Can someone explain the reference please?

Got to love this snippet on DL from his Wiki page;

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."[19] The High Court of Justice of the United Kingdom rejected Lenigas', and the other claimants' libel claim, and found in favour of the publisher.[20]

Remind me why he quit the Directorships he had on AIM?

Oh yes, he was warned that he was breaking stock market rules by tweeting overly-optimistic information. After all, it was him that came up with the original 'billions of barrels' quote.

And I wonder what the BoD of Regency Mines thought when he withheld information from them, bought their share of HH and then announced the HH discovery a couple of days later?

Apparently not much, as they threatened to take him to Court and he had to subsequently pay them a lot more cash.

So Rocky's wife, still not filtered me then, have you!

The reek of desperation in your posts is overwhelming.

What are you going to do when Finch loses her case, and UKOG continue to do....nothing....

The real reason you keep calling people like myself, Ninetails and Penguins 'greenies' and other insults, is because you can't stand us being there to call you out on your BS by using these things called facts.

And it really gets up your nose that we can call your BS out so easily, as our knowledge of how the oil industry works is far superior to yours - because we actually work in it.

And yet Rocky's wife has nothing better to do that invent another nom-de-plume on a weekend, post more drivel and insult other posters?

The irony is lost on him.

Which isn't surprising since facts also go so far over his head he would need a Chinese "Weather" balloon to get up there to see them.

Penguins, he crossed the line into 'desperate ramping' a couple of years ago.

His claim that any oil major or bank would want UKOG involved in the H2 storage project is even more desperate than his usual guff.

No major or bank would go anywhere near a project with the abject failure that UKOG has been, spending what, £80 Million so far?

And all that for a loss making field producing a measly 50 BOPD.