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Share Name Share Symbol Market Type Share ISIN Share Description
UK Oil & Gas LSE:UKOG London Ordinary Share GB00B9MRZS43 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 5.00p 4.95p 5.05p - - - 0 07:30:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 0.2 -2.0 -0.1 - 174.01

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DateSubject
23/7/2017
09:20
UK Oil & Gas Daily Update: UK Oil & Gas is listed in the Technology Hardware & Equipment sector of the London Stock Exchange with ticker UKOG. The last closing price for UK Oil & Gas was 5p.
UK Oil & Gas has a 4 week average price of 1.83p and a 12 week average price of 0.83p.
The 1 year high share price is 5.30p while the 1 year low share price is currently 0.83p.
There are currently 3,480,134,100 shares in issue and the average daily traded volume is 312,189,450 shares. The market capitalisation of UK Oil & Gas is £174,006,705.
14/7/2017
20:01
forwood: The shareprophets view is a sell, but the evaluation isn't so bad, and we've actually gone higher since this was published. Could it be the author is looking for a cheaper entry price? Will UK Oil and Gas ever produce large amounts of oil onshore in the UK? Er... sell! By Gary Newman | Thursday 13 July 2017 If you like this, please share this article using the buttons below Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. I haven’t looked at UK Oil and Gas (UKOG), and more specifically the Horse Hill oil field, for quite a while and a lot has changed in the meantime, so I thought it about time that I revisited it. There is no doubt that it has been a great story so far and one that has really caught the attention of PIs, not to mention the press, given that it involves UK onshore oil and gas reserves, and depending on how it plays out it could even one day end up being made into a film! What remains far less clear is how this story is ultimately going to play out and whether the current valuations of the companies involved in Horse Hill will prove to be justified – personally I see them as being very much on the high side at this stage and carrying a fair amount of risk from this sort of share price level. Some will already have made a fortune from trading UK Oil and Gas at various points along the way, as well as shares in the other companies which hold a share of Horse Hill Developments Limited - which in turn holds 65% of the PEDL 137 and PEDL 246 licences on the northern side of the Weald Basin. In the future I would expect plenty more opportunities to make money as the share price here is bound to experience further large amounts of volatility, with big swings up and down, as the story unfolds. But if we look at it from purely a longer term investment point of view I must admit that I find it hard to see value here and certainly wouldn’t be rushing to put money into UK Oil and Gas shares at its current market valuation of around £108 million (3.2p to buy), as I feel that is pricing in far too much unproven future potential at this stage, and is reliant on a lot of hype to keep it there. Of course that isn’t anything unusual on the AIM market, and there are plenty of other examples of companies that have seen large sustained rises as the market falls in love with the story, but ultimately in the majority of cases that all tends to come crashing back down to earth at some stage in the cycle. There is no doubt that the numbers look impressive when considering the independent reports for stock tank oil initially in place (STOIIP), but ultimately the profitability of companies involved will depend on how much of it can be extracted and how quickly that happens – ultimately the combined flow rates across the field need to be equally as impressive once a field development plan is put in place and production starts, whenever that may be. Currently Schlumberger’s gross STOIIP estimates for the two licences is nearly 11 billion barrels, which is clearly huge for a company of this size even if the recovery factor turned out to be low, and taking into account its other shares of licences within the Weald Basin, that rises to over 17 billion P50 barrels gross. Although in terms of actual resources, for instance gross 2C contingent resources for the Horse Hill-1 Portland discovery are a far more modest 1.5 million barrels. A significant amount of the oil-in-place is from the tight Jurassic shales. Indications so far suggest that both the Kimmeridge limestones and the Portland discoveries will flow at decent rates – Portland achieved a test rate of 323bopd – but as yet commercial viability hasn’t been confirmed, and it will take a production test to prove the concept. A planning application to production test the HH-1 Portland, KL4 and KL3 zones was made to Surrey County Council last October, and a decision on this is due by July 31, so that could have a big impact on the share price one way or another and is something to be aware of. The company is hopeful of being in production by late 2018 or early 2019, but I see that as somewhat optimistic given how long the various permissions required to date have taken to secure. It certainly doesn’t help that the discovery is in a more affluent part of the UK and there are sure to be major objections – especially when it comes to drilling enough wells over the site to produce the sort of amounts of oil which you would expect from a field of this potential size, and which would enable the company to make the large profits which are being predicted by some when production is reached. It still remains to be seen whether, in the short term at least, this field will be hampered in terms of the daily production it is able to reach. What is also interesting is that Regency Mines (RGM) has just sold a 1.9% share in HHDL (1.235% of the Horse Hill licences) for £323,000 – just over £54,000 in cash and the rest in UK Oil and Gas shares. That would actually value the whole of Horse Hill at around £26 million on that basis – although you could argue that Regency is simply de-risking and still has exposure via the shares it took as part of the deal. All of the ongoing work on these licences isn’t cheap and the company has continued to raise funds, and there is little doubt that those taking part in the placings have done very well in general – most recently £6.5 million was raised at 0.8p. Of course there is more to UK Oil and Gas than just Horse Hill, even though that tends to grab a lot of the attention, and the company is about to carry out a flow test of its recent Broadford Bridge-1 discovery, on the 100% owned PEDL234 licence, and the company now sees this as having even more potential than Horse Hill. But ultimately it needs to show that it can bring one of these licences into full production in a way that is profitable. On the positive side, if any one of these licences with large amounts of oil-in-place is able to produce in the sort of quantities that would support the paper valuation of that oil, then the company would ultimately end up at many multiples of its current valuation, even allowing for some of that being priced in already. But for me it is still incredibly early days in terms of proving that it can actually reach the potential that the headline figures would suggest, and I would be cautious of investing at this stage unless you have a very high tolerance for risk and are prepared to see a big chunk of your capital disappear – even if just during any temporary blips along the way.
08/7/2017
22:51
tidy 2: argus1 1,559 postsUkog or Angus?For me the problem with buying into Angus at the moment is that as the production licence has been well promoted for the last six months, everyone knows about it, and in my view it is priced into the present Angus share price. We also know that production from the Kimmeridge is expected to begin in the late summer. The rate of flow is the only unknown, and as it is expected to be quite high, that will not surprise. The small area of Angus's licences Linsey (5.3km2 60% Angus 3.18km2), Brockham (8.9km2 Angus 60% 5.34km2). Angus total of these two licences = 8.52km2 Compared to Ukog Broadford Bridge (300km2 100%) Horse Hill (142.9km2 31.% Ukog 44.6km2). UKOG total for these two licences 344.6km2. If we were to assume a roughly even distribution of oil contained across these licence areas alone then UKOG has more than 40 times the oil asset value of Angus. So there is room for some further increase in Angus share price but not anywhere as much as UKOG.
08/7/2017
22:29
jlondon: Financial Times, "As at 30 June 2017, the consensus forecast amongst 2 polled investment analysts covering UKOG Plc advises investors to purchase equity in the company." "Recommendations: L A T E S T - 1 BUY, 1 OUTPERFORM, Hold 0, Underperform 0 & Sell 0." "The 2 Analysts offering 12 month targets for UKOG plc have a MEDIAN TARGET OF 3.62p with a HIGH ESTIMATE of 4.4p & a LOW ESTIMATE of 2.83P." Link: https://markets.ft.com/data/equities/tearsheet/forecasts?s=UKOG:LSE&mhq5j=e3 Comment: Simple maths: At the High Estimate of 4.4p= £152 million market capitalisation. At the Median Estimate of 3.62p = £123.99 million market capitalisation. Currently, on Fri, 7 July, UKOG share price was 2.85p, Mkt Cap £97.62 million. Perspective: 88e is also Pre-Flow Test potentially chasing billion boe unconventional oil in the North Slope- Share price: 2.75p & Mkt Cap: £127.8million. So Mr Market Analyst attributes the middle benchmark at £125million region and within the range of £97.62m for low and £152m for High Mkt Cap at this stage of play. So potential assets are rated. Using the same FT link, I checked the OTHER Weald listed co^s but there is NO forecast for the other co^s nor analysts covering them. Spot on for Mr Market in NOT taking the share price to BELOW the Analysts forecast which appears FCA compliant as they hold authorised status? [Analyst Low estimate 2.83p , Fri 7 July 2017 UKOG Closing share price 2.85p]
07/7/2017
18:36
jlondon: Forwood- That is what I was hoping UKOG will do. DL has tweeted that he has spoken to majors. I am not sure whether it is the American majors as earlier per Horse Hill or recent meetings or calls to other majors in the UK etc. If UKOG does a Solg, they could attract 1 major to the table [this was the phrase]to invest a small % initially. The share price of Solg was 1p [2nd time around] with fears of funding. Solg then decided to pay the driller in options/warrants. That really socked everyone in the eye. Solg have now learnt more management techniques since appointing Maxit, investment bankers from Canada who specialise in M & A. The major paid 6p against the mkt price of 3p re:Solg. At every stage, the major paid premiums over prevailing share price of 21p range and finally 41p [Fair Value]. This major only currently has 14.5% in Solg. So that was how the valuation was built up into the hundreds of millions ie £500m+. Only danger is hostile take-over and City Takeover Code applies in the case of any majors take up % by % upwards. Solg RNS mentioned independent valuation report in any capital event [ M & A]. In terms of SXX, the CEO had dealings with the richest woman in Australia via Fortesque. So they gathered institutions etc plus off-takes to gain ground. Perhaps, it is time to call in the M & A experts, investment bankers, experts,management consultants etc to take UKOG to its rightful place on the FTSE [hopefully FT250]. D.Lenigas may also pull a surprise yet- he tweeted that Brockham will be key and he mentioned octopus as Forwood said. Maybe, they may merge otherwise how could Angus suck up the big reservoir [HH,BB1] from Brockham? Third time blessed, I hope so for all those in AIM. First SXX to FT250, now Solg planning advanced moves to FTSE/TSX and maybe us in UKOG. I read many stories of big oil hunts eg BP- it was the last penny before the big strike. The BP founder ran out of personal funds so he told the geo to stop drilling. But the geo continued and the rest is history. Imagine finding big oil in desert sands so long ago when tech was in its infancy. J.London Fri, 7 July 2017 P.S. Pressure in the Kimmeridge [gas] is a gift from nature re:flow test? [Source:DL via interview with Doc H today]
07/9/2016
22:12
theuniversal: Money munch why base it on npv and what has this to do with pricing in the sp?I was going by the poo and % for ukog in their licences ÷ by shares in issue. ...Can you elaborate a little on npv and why it is important to use by the MM on valuing ukog share price.. would like to hear your thoughts on this cheers bud.Ps: the smart money is accumulating now me thinks ;-)
07/6/2016
10:42
funkmasterp12: Forwood - ban me if you like, it won't make any difference to your investment in UKOG though. I have offered balanced opinion and have not personally attacked anyone. And actually, if you look at the share price performance and my predictions, I have been mostly right. I got the timing of the placing wrong, but I did say it would be at a discount, that it would not be placed to serious investors and that it would create a large stock over-hang. All of those things appear to have happened. I also have said that buying MPET would be suicidal and offered countless reasons why. The rampers on the other hand have said placings would be at a premium (it wasn't), that the price of oil would boost the UKOG share price (it hasn't) and that the EY report would be "transformational" (it wasn't - and none of the other HHDL companies ran with it!). I offer no opinion on Nutech, other than to think it'll create a share price spike is misguided. There's too much stock now in the way from the placing. Where I do think there are opportunities are for UKOG to raise meaningful amounts of cash, to proper investors - which shouldn't be an issue if the prospects are so good. £4m won't last long, they need to raise a lot more to get the well into proper testing and into production. This however would mean serious dilution from the current levels. Buyers should also be aware that oil prospects mean very little when the company is running on a wafer thin balance sheet. If you want to ban me for offering an honest opinion, so be it. But as said, it won't help your position.
21/4/2016
10:56
funkmasterp12: Nothing from me... just to make it really clear, if Brent dropped below $40 or even $20, I still don't think it would have any impact on the UKOG share price.
18/4/2016
08:24
orinocor: The UKOG share price should be tanking here. UKOG's share is only worth £6.3M, if 7.8% is worth £1.8M.
11/4/2016
15:26
fission453: from lse ALBA SHARE PRICE IS TOO CHEAP SHOULD BE UP TO 4 TIMES HIGHER. With news on the value of Horse Hill due very soon, time to highlight again how MASSIVELY UNDERVALUED ALBA's share price is compared with that of UKOG as the share prices of both increase purely on the potential of Horse Hill. This is illustrated as follows :- UKOG with 2,043,907,000 shares @ 1.95 p per share is valued at £39.58 million ALBA with 1,286,789,000 shares @ 0.36 p per share is valued at £4.62 million UKOG has 30 % of Horse Hill ALBA has 15 % of Horse hill So ALBA has half of what UKOG has. Therefore one would expect ALBA to be valued at half what UKOG is, which is £39.58 million divided by 2. That is £ 19.79 million Which which means ALBA's share price should be 1.53p. That is 4.25 TIMES the current 0 .36 p share price of ALBA. If UKOG's share price increases, the corresponding ALBA's share price should be as follows. UKOG ALBA 2.5 p 1.98 p 2.75 p 2.18 p 3.0 p 2.38 p 4.0 p 3.17 p This illustrates how cheap ALBA's share price is.
11/4/2016
09:57
loobrush: Alba is a better bet on share price rise by far. lse posting ALBA SHARE PRICE IS TOO CHEAP SHOULD BE UP TO 4 TIMES HIGHER. With news on the value of Horse Hill due very soon, time to highlight again how MASSIVELY UNDERVALUED ALBA's share price is compared with that of UKOG as the share prices of both increase purely on the potential of Horse Hill. This is illustrated as follows :- UKOG with 2,043,907,000 shares @ 1.95 p per share is valued at £39.58 million ALBA with 1,286,789,000 shares @ 0.36 p per share is valued at £4.62 million UKOG has 30 % of Horse Hill ALBA has 15 % of Horse hill So ALBA has half of what UKOG has. Therefore one would expect ALBA to be valued at half what UKOG is, which is £39.58 million divided by 2. That is £ 19.79 million Which which means ALBA's share price should be 1.53p. That is 4.25 TIMES the current 0 .36 p share price of ALBA. If UKOG's share price increases, the corresponding ALBA's share price should be as follows. UKOG ALBA 2.5 p 1.98 p 2.75 p 2.18 p 3.0 p 2.38 p 4.0 p 3.17 p This illustrates how cheap ALBA's share price is. Buy ALBA
UK Oil & Gas share price data is direct from the London Stock Exchange
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