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
  -0.075p -2.00% 3.675p 3.65p 3.70p 3.875p 3.65p 3.75p 27,506,919 16:02:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 0.2 -2.0 -0.1 - 132.81

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DateSubject
16/12/2017
08:20
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 3.75p.
UK Oil & Gas has a 4 week average price of 3.18p and a 12 week average price of 3.18p.
The 1 year high share price is 11p while the 1 year low share price is currently 0.83p.
There are currently 3,613,943,320 shares in issue and the average daily traded volume is 39,823,434 shares. The market capitalisation of UK Oil & Gas is £132,812,417.01.
14/12/2017
08:53
datait: Christmas tree spotted at Broadford Bridge Images from last week with the tanker connected to the well have turned up more analysis courtesy of posters on Twitter, showing a Christmas Tree. But not this sort of Christmas tree! christmas tree In petroleum and natural gas extraction, a Christmas tree, or "tree", is an assembly of valves, spools, and fittings used for an oil well. The primary function of a tree is to control the flow, usually oil or gas, out of the well. It often provides numerous additional functions including chemical injection points, well intervention means, pressure relief means, monitoring points (such as pressure, temperature, corrosion, erosion, sand detection, flow rate, flow composition, valve and choke position feedback), and connection points for devices such as down hole pressure and temperature transducers (DHPT). On producing wells, chemicals or alcohols or oil distillates may be injected to preclude production problems (such as blockages). UKOG BB Christmas tree Christmas tree for well The following Waste Management plan published by UKOG in early 2017 for the original bb-1 well shows the original flow test plans. These will have been amended for the bb-1-z sidetrack well but not dramatically. The plans showed that UKOG were targeting four Kimmeridge limestone zones. The latest operational RNS said " The sidetrack, drilled in five days, was drilled out from BB-1's existing 9 ⅝-inch casing and extends from 2,613-5,757 ft measured depth ("MD"), from within the Purbeck Limestones to below the base of the Kimmeridge Limestone Zero ("KL0") fracture zone. The sidetrack's surface trace runs parallel to BB-1, some 200 ft to the south, mirroring the original BB-1 trajectory. Significant oil traces were recovered from drilling fluid throughout the Kimmeridge section from 3,622 ft MD to below 5,562 ft MD, a vertical thickness of around 1,400 ft, greater than seen in BB-1. Wet gas shows were at near identical levels to that seen in the original BB-1 borehole." Five limestone zones now need to be perforated and tested so the whole operation is taking time and the big question is whether they will release flow test results from the early zones? The top limestone around 100ft thick, the second is 90ft and the remaining limestone layers are c. 20-30 feet with a total thickness of 270-300 feet. The net oil play is around 1,400ft thick as confirmed by RNS and perforation is being done over a 926ft thick section zone by zone. The height of the oil column and complexity of the zones means its not a quick job to perforate the right zones at exavtly the right point, get the oil flowing and measure flows. Once the rig is demobiised from Broadford Bridge, the Christmas Tree will be attached and left to measure flows. Broadford Bridge tanker connected to well The pre-flush with potassium chloride and acid stage, discussed below, was being done last week when the tanker was connected to the well. Can't be too long even with the complexity of the well perforation (given multiple zones) given these technical aspects and also the Angus RNS and last UKOG RNS. But......an operational update would be most welcome to avoid the guessing games and avoid talk of 3-4 placings and dusters! But in the meantime take a chill pill longs, remember the talk of a duster at Rockhopper's Sea Lion well and collapse in share price in May 2010 before the announcement of a find and share price into the stratosphere. Stephen Sanderson feels like a pro and he won't rush this flagship drill to maximise those flow rates. The rig will come down when its ready and without compromising the technical integrity of the well. With the amount of share options SS has he want 5000 bopd too! Can't be long! The Waste Management plan Christmas tree for UKOG BB well LEARN MORE UKOG WASTE MANAGEMENT PLAN The CT unit will be mobilised to site and rigged up over the well, see Table 2.6. A crane is used to locate the equipment and then to hold the CT injector head in place over the well during the operations. The CT is run into the hole and 15% by weight hydrochloric acid (HCl) circulated into the formation porous spaces. The acid reacts (“spends”;) quickly with the calcareous (limestone) formation rock, and the spent acid is then flowed back to surface. The flow-back and test production initiation is typically assisted with nitrogen lifting, via CT. The CT and associated equipment are then demobilised and the well is left available for flow testing. An indicative schedule of treatment fluids and volumes for the treating of each Kimmeridge Limestone zone is as follows:  “Pre-flushR21; of circa 20 bbl. (3m3 ) 3% potassium chloride brine, containing 2-3 drums of PROTEKT-318 surfactant;  Acid treatment of 100 bbl (15 m3 ) PROTEKT 15 PLUS formulation of 15% HCl together with corrosion inhibitor (to protect the steel tubulars from acid corrosion) and surfactants (to aid the acid in entering the formation pores and then returning the spent acid from the well);  The acid is squeezed into the formation so as not to cause damage any of the area. The surface pressure will be determined when the downhole pressure is known;  Displacement fluid (volume dependent on the volume of the coiled tubing string) and overflush of circa 20 bbl (3 m3 ) 3% potassium chloride brine. 2.5 Well Testing Operations Following acidising operations with CT, production testing is conducted through surface-based equipment, which provides for:  Shutting in the well at any time with a remotely operable safety valve;  Control of the production via a “choke manifold”;  Flow of produced reservoir fluids through high-pressure pipework;  Separation of the produced fluid’s three phases of oil, gas and water into individually controllable and metered flow streams;  Storage of produced oil and produced water in segregated, vented tanks;  Safe disposal of produced gas via a flare, of a design approved by EA for this purpose. If BB-1 drill stem test and extended well testing (EWT) operations proceed, they are planned in the Kimmeridge Limestones (KL). 2.3.1 Drill Stem Test of KL2 or KL1 For this test, the rig is on location. The test may be performed on zones KL2, KL1, or both. The tests will be performed on zones individually. a) Mobilise the well test spread b) Run test string c) Perforate KL2 / KL1 as appropriate d) Acidise perforated zone through test string e) Flow back the spent acid (calcium chloride) and initiate perforated zone flow by displacing the well to underbalanced fluids or swabbing operations f) Flow test the zone for up to 3 days g) Kill the flowing zone with fluids h) Pull the test string i) Isolate the perforated zone with a bridge plug in the casing j) Repeat for second zone if required Swabbing or a downhole pump may be deployed and used to produce each zone. Neither of these artificial lift alternatives will be required if the individual zones flow naturally and continue to do so for the duration of the DST. 2.3.2 Extended Well Test Operations If BB-1 extended well testing (EWT) operations proceed, they are planned in the KL as follows: a) Mobilise the coiled tubing (CT) unit and well test spread b) Perforate the Upper KL (KL4) zone c) Perform an acidisation operation on KL4 with the CT unit d) Flow back the spent acid (calcium chloride) and initiate KL4 flow with nitrogen lift e) Shut off KL4 zone and open the Middle KL (KL3) zone f) Perform an acidisation operation on KL3 with the CT unit g) Flow back the spent acid (calcium chloride) and initiate KL3 flow with nitrogen lift h) Demobilise the coiled tubing unit i) Flow test the KL3 zone for up to 35 days j) Shut off the KL3 zone and open the KL4 zone k) Flow test the KL4 zone for up to 35 days l) Suspend the well pending further planning and regulatory approvals; or m) Plug and abandon the well utilising a workover unit (see section 4). Flow test periods may be curtailed depending on conclusions drawn from data acquired during each test. During coiled tubing operations, nitrogen usage will be limited to 10 tonnes per day. Following demobilisation of the CT unit, swabbing or a downhole pump may be deployed and used to produce each zone. Neither of these artificial lift alternatives will be required if the individual zones flow naturally and continue to do so for the duration of the EWT.
11/12/2017
10:02
amr2017: The shorters are working in conjunction with the MM'S here to justify dropping the share price imho. Since 4.20 pm on Friday the share price has dropped over 10% on less than 1% traded volume. In any other walk of life this would be investigated and the culprits jailed. There is no justification to drop the share price as it is already priced up as is BB does not exist, we all know it does so pure and utter manipulation going on here this morning. The sooner UKOG prove up the reserves and the weald basin, the sooner we can move off AIM. Viva UKOG!
04/12/2017
13:09
dgunn222: LSE thread....Whats the true value. stuart1234 Posts: 2,741 Off Topic Opinion: No Opinion Price: 3.725 whast the true value Today 10:35 found this a bit back about horse hill 1. How big is the field? UKOG says drilling at Horse Hill-1 on the Weald Basin points to 158m barrels of oil per square mile and that altogether there could be up to 100bn barrels beneath the South of England. 2. How much oil could be extracted? UKOG admits only a fraction of the potential 100m barrels would be recovered - between 5% and 15%. looking at others say hurricane energy, less shares than ukog 3.5 billion, hur has around 600 mill barrels find, hit, 700 mill cap a while back so does ukog deserve a cap of £130 mill at mo, is the million plus barells already priced in??? Triassic Posts: 41 Off Topic Opinion: No Opinion Price: 3.725 stuart Today 10:41 Do you realise that the difference between 5% and 15% has enormous implications for the share price? 5% is not even priced in yet. Annikins Posts: 1,367 Off Topic Opinion: No Opinion Price: 3.725 View Thread (12) RE: whast the true value Today 11:17 3 to 10 % of the whole wield stevie was talking about, he doesnt own all the square miles. you need to undertand that. ==================morebullocksfromstuartabove============================ UKOG actually own 13.31% of the entire Weald Importantly UKOG own 100% of the juiciest part of the Weald The Weald is pushed up dome type structure, the central area of the Weald isnt UKOGs areas, you need to think about that one! The thickest payzones are around the outside areas and BB licence is the thickest payzone by far, UKOG own 100%. Merely £100m buys you 20-25 producers from this area, copy and paste BB-Z well, further optimised and knowledge gained will make these further wells much more efficient and cheaper to mass produce. Even 2,000 bpd gives UKOG 50,000 bpd off 25 wells @$67 per barrel thats a revenue of $1.2 Billion per annum £100m one off capex to produce $1.2 Billion every year with very low costs (will be nearer $20 a barrel with 25 wells in close proximity) North Sea equivalent would be in the order of multiple $ Billions capex and triple the opex. Now see why this is highly attractive! Thats merely BB, there 10 other licences and HH already commercially proven! Have a good day lying some more Stuart, please try to use facts eh! :) Annikins Posts: 1,367 Off Topic Opinion: No Opinion Price: 3.725 View Thread (5) RE: whast the true value Today 11:29 I will repost this to put the % acreage/ownership to bed You can check my calculations....maybe this table should be used by UKOG as i think it shows the weighting per area better me thinks. Iv also converted everything to square miles. ==========================UKOG====13.31%(Weald)=====100%(BB)========================= PEDL.......% OWN........SQ MILES......UKOGS SQ MILES OF WEALD 070............5%.................7.06..................0.35 233..........50%..............34.60................17.30 143..........30%..............35.44................10.63 211..........10%...............10.54..................1.54 126.........100%...............4.32...................4.32 137......32.435%..........38.34.................12.44 (HorseHill) 246......32.435%..........16.83...................4.32 (HorseHill) Sub-Total..................................................52.04 (All Weald licences Sq MIles other than BB) 234........100%............115.83..............115.83 (Broadford Bridge Sq Miles) Total........................................................167.87 (13.31% of the Total Weald Sq Miles of 1,261 Sq Miles) 13.31% of 124 BB OIP = 16.50 Billion Barrels OIP Broadford Bridge Licence Est OIP = 11.4 Billion Barrels
24/11/2017
17:47
amr2017: Evening all, In my opinion as a business man this is neither a good or a bad sign. The lender is converting shares and taking a profit. The market makers are selling any shares placed at a profit for the lenders and making a profit themselves in to the deal. Given the price action since the first draw down it is obvious that the lender has made a profit on that transaction. I expect the price to rise without news to facilitate another profit if those shares are traded. As the lender is looking for a profit on the trade if they can convert the shares drawn down even for a small profit then when flow rates prove commerciality then they will realise even greater profits later on. I believe UKOG have funds in place from the loan already so it seems logical that the lender will recoup their outlay in a timely manner irrespective of the position of the development of the asset. I see no downside for UKOG as the shares cant be shorted. If I understand this correctly as the shares are issued then the repayment of the loan is reduced. If we have now issued 500k worth of shares then there is only 9.5 million left to be repaid on the loan. An ever diminishing loan absorbed into the share price with minor dilution. The shorters will wail and cry foul but ultimately the flow rates will prove commerciality and the share price will rise accordingly imho. Patience is a good word as is filter, filter the dross on here and be patient is my new mantra. All fellow share holders, have a great weekend, all shorters....... Kind regards
23/11/2017
06:26
atino: Hearts - not to worry m8...this moneybrunch wakes up...with sleep in his eyes ! Total denial LOL 😂 [Quote 2013] A fringe of little-known financial institutions offering cash via complex funding schemes has been attracting more business from Aim-quoted companies – as conventional sources of finance remain closed off. But while many of their esoteric financing structures have been around for a decade or more, they have only come to the attention of certain shareholders in recent days. On May 8, Quindell Portfolio, the software insurance group, revealed a £13m equity swap derivative on its balance sheet, related to a share placing used to fund an acquisition. Its shares then fell 41 per cent in two days, before recovering, as the market struggled to assess the cost and reasons for the arrangement. Quindell, however, is not the only company to use a share placing product. A roll call of London-listed companies, particularly miners, biotech and technology companies, have signed up to similar deals. In simple terms, they work by allowing companies to place new shares with an institution at optimal moments, to minimise dilution for shareholders, while securing regular injections of cash for their businesses. These products come in a variety of forms, but among the most complex and potentially expensive are those tied to derivative contracts that are designed to insure the financing institution against share price falls. Providers of this type of finance are multiplying in London, the US, Canada, Australia and Europe. Small cap brokers FinnCap and WH Ireland recently agreed to let Darwin Strategic, part owned by Henderson Investors, market its equity financing facilities to their clients. Darwin is the latest recruit to a band of investors, including Lanstead and Yorkville Advisors from the US, offering cash-strapped companies access to regular funds in return for shares. One executive from this band – who did not want to be named – estimates that a tenth of Aim companies now use these services. “We are moving from the margin to the mainstream,” he says. “A lot of companies on Aim are struggling to gain access to cash and it is impossible through more normal routes,” explains a broker who preferred to be anonymous. “It has become commonplace in the resources and exploration sector which are not producing anything and have ongoing needs for capital. How else do they get the stuff out of the ground or develop opportunities?” For Aim and exploration companies, [funding] is always a challenge. We need diverse sources. We also need investors with the appetite for the risk of E&P. Andrew Roberts, Red Rock Resources The latest company to sign up is Red Rock Resources, which is exploring for gold and iron ore from Australia to America. Last week, the mining company, which has a market capitalisation of £5m, announced a Seda, standby equity distribution agreement, with Yorkville to raise up to £10.5m over three years. In essence, the miner will issue a notice of when it wants to use its drawdown facility to Yorkville, which will pay out cash on an agreed formula, often linked to share volumes. Red Rock has struck a series of similar deals with Yorkville over five years, including Sedas attached to loans paying interest at 12 per cent and Sedas with equity swaps that reduce the amount of cash Red Rock can draw down if its share price falls below set levels. The equity swaps provide insurance for the scheme providers. “We fulfil the role between seed investors and major debt financing,” explains one provider. “We are taking more risk than the banks and less than equity investors. A bank would demand security for a loan to limit downside. We use the swap to limit our downside and eliminate stock market and volatility risk.” Andrew Roberts, Red Rock’s chairman, says: “For Aim and exploration companies, [funding] is always a challenge. We need diverse sources. We also need investors with the appetite for the risk of E&P. We are not an income-producing company and our cost of debt capital is high. Our cost of equity is even higher.” Sedas allow companies to raise funds when their share prices are rising. “The time when the market usually doesn’t want your stock,” points out Mr Roberts. However, like so many of the companies that have taken this kind of funding, Red Rock Resources’ shares have fallen sharply recently. Critics suggest the market is wary of esoteric funding arrangements that play to the optimism of executives who believe their shares can only appreciate. But today’s providers say company boards have more control over the terms and can set floors on the price at which stock is placed. They also note that fees are lower and the products, including swap arrangements, are geared to share prices rising not falling, with constraints on shorting. As one broker says: “These are financing tools that can be useful if part of a range of options. They just have to be fully understood and properly disclosed to the market”. Shorting stocks Investor worries over esoteric funding arrangements that are predicated on rising share prices can be traced back to 2001, when a number of cash-hungry technology companies signed up to “equity credit lines” nicknamed “death spiral loans”, writes Kate Burgess. Cynics noted that these products were structured so that the providers could short the stock that they knew was coming to them. The lower the price, the more money they made. When it emerged that certain technology companies, such as Tadpole Technology, had agreed to equity credit line arrangements, their shares plummeted. https://www.google.co.uk/amp/s/amp.ft.com/content/b6079c7c-bee5-11e2-a9d4-00144feab7de
18/11/2017
22:03
terry hardacre: That's a little unfair on His Excellency, the Ambassador Hearts, Gismo, who has only just arrived after a rather unfortunate unplanned diversion via the war zone that is ANGS.But yes, the wonderful thing about our job is that we get paid 7p/post + 1 bag of chocolate buttons per % point knocked off the UKOG share price.I'm afraid business is business, and you wouldn't turn your nose up at a deal like that.
17/11/2017
10:33
loglorry1: In the meantime Ukog share price continues climbing, as does Angus by the looks of it MoneyMunch I know you don't like reality but you can hardly claim ANGS and UKOG share prices are rising. They are both down dramatically today and the past few days. Even the uber bulls here have stopped shouting about muti thousand bbls a day flow rates at BB.
15/11/2017
13:41
moneymunch: When they start converting the loan into shares, they'll want the share price heading upwards along with the rest of us, and as they can't short the equity it will be in their interest to keep Ukog's share price as high as possible....Gla holders:-) The Loan attracts 0% interest and may, at the sole discretion of the Investors, be converted into new ordinary shares in the Company. The conversion price is the lower of either a share price of 8 pence, or 90% of the Company's lowest daily volume weighted average price ("VWAP") during the five days prior to the conversion date. The Loan is convertible in tranches of not less than GBP250,000, with a limit of GBP3 million per quarter, unless otherwise agreed by the Company. The Loan includes a provision that, for as long as any portion of the Loan is outstanding, neither the Investors nor any of their affiliates shall hold any net short position with respect to the equity of UKOG. UKOG can repay the principal amount of the Loan at any time for cash, provided that the 5-day VWAP of the Company's equity is less than 8 pence and a prepayment fee equal to 10 per cent of the principal amount of the Loan then outstanding is paid by the Company to the Investors.
15/11/2017
09:33
whattheduce: scotty, possibly but would you do so now with pre-flow test share price levels or wait for post HH extended testing? The promised dilution form the spookers may not be here for at least a year. The TWO year cap is to ensure the finance package has a definable end date. The restriction on maximum sale limits and short positions is to ensure no big impact movements under normal day to day share trading but allows some staged repayments if the investors did need a cash access route. The contract is pretty harsh on the binding clauses actually. Just because there are cash-in options doesn't mean they will be used. It is like having a long term savings account and the bank allows multiple withdrawals with 5 days notice rather than no withdrawals over 2 year cycles. You just never know when you need access to your cash so you are tempted with the access savings account. I doubt they would even consider conversion for a year and then will be very careful to ensure they time it to convert the lot. By then UKOG share price will look very, very different and the impact will possibly be lost as noise in the daily volume of a company on the brink of major oil production from several locations!
06/11/2017
08:15
7767: UKOG share price not reacting favourably to Angus news though
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