Uk Oil & Gas Share Discussion Threads

[beebong1] 18/4/2016 18:52

Angus have now received a minimum of £7.315m in a combination of cash and shares for a £6m well. Not too shabby. We don't know how much Flowermay LTD paid Angus for 6% of HHDL but I'm guessing it wasn't peanuts.
UKOG have paid £4.1m in cash and shares for a 27.3% of HH.
Magellan have paid under $0.5m for 35% of HH

[moneymunch] 18/4/2016 18:37

Lol funky, lets wait for the Nutech/Xodus upgrade based on the recent flowtest data, which the E&Y report doesn't include.

SS will be impressively armed for any high level meetings he might have lined up. Gla longs. ;-)

[funkmasterp12] 18/4/2016 18:04

hazl - so if you owed a sizeable % of an asset which was due to generate the sort of numbers you/UKOG are claiming, why would you sell it for such a small amount? moneymunch - so before it was the EY report and Nutech which offered the big opportunities. Now it's only Nutech. What happened to the opportunities you claimed the EY report was going to offer? I note none of the other HH companies have bothered to RNS this report, presumably as most investors have seen it for what it is - an elaborate PR leaflet.

[temmujin] 18/4/2016 17:57

nothing will change here until they ban cfd's and spread betting..shares just get hammered by these shorting crooks in the city...FCA need to deal with em

[moneymunch] 18/4/2016 17:49

Lol funky, that's your opinion, negative as usual, disbelief and still in denial.....i'm fully loaded for the most exciting opportunity for years and will continue topping up. HH is almost completely derisked with the stunning free flow of high quality oil from the Kimmeridge limestones in volume. The detractors said it wouldn't flow, but instead it's very likely to be of national significance. The Nutech/Xodus upgrade is expected soon, which will undoubtedly further validate the transformational potential ahead, and Ukog will have no problem in raising funds when they're ready to do so. Gla longs ;-)

[hazl] 18/4/2016 17:38

Clutching at straws there funk!

this is a tremendous thing for the UK and if you look at the announcements properly you will see why.

IMO

[funkmasterp12] 18/4/2016 17:30

So what if they're a private company? If they need the cash and the potential was so "transformational", surely they could have asked their investors to stump up the cash? Or gone for more funding?

I don't get why they would sell off their prized asset for such a small fee when surely other funding avenues would be available to them.

Or were they? It doesn't seem as if anyone is really buying the Horse Hill story at the moment. Which means when UKOG come to need cash - which they will, that's a given - they may struggle.

[moneymunch] 18/4/2016 17:27

ps and lucky Angus now have 43m plus shares in Ukog ( £.08m ), and will have had access to all of the drill/flowtest data, and i imagine they were more than happy and extremely confident, and looking forward to transformational returns/value in the not too distant.......gla longs ;-)

[markycrispy] 18/4/2016 17:11

Another flush out of weak holders could be on the cards now - this opportunity is too big not to have speculation priced in. It will go but like most things that boom they are nearly always proceeded with a large sharp fall first.I would suggest just look at the end of the day for the next few weeks as it will give you a heart attack watching every move.This is not one for spreabetting but tucking away for the long term - just dont play with money you cant afford to lose

[moneymunch] 18/4/2016 17:08

Lol funky, we've already had that discussion...remember??? Angus have the major percentage of nearby Brockham and need cash to develop it, they're a small private company and not listed, and so to raise £1.8m from one of their partners makes perfect business sense....a win win situation for all parties, especially for Ukog who now has 27% plus of HH. The Kimmeridge limestones extend through Brockham and beyond, and now Angus are fully funded to develop as they wish. Gla longs ;-)

[funkmasterp12] 18/4/2016 16:56

I'd be more concerned as to why Angus have sold their share so cheaply. Let's not forget the Chairman of Angus (Jonathan Tidswell) is also the creator of the HHDL consortium. He should know better than most what's in there.

[moneymunch] 18/4/2016 16:52

London Evening Standard Business

Gushing Gatwick ‘can supply 25% of UK’s oil’

The Gatwick Gusher and associated oil reserves in the Weald Basin could account for more than quarter of the UK’s daily oil needs, respected professional services firm EY has said.

Based on recent test drillings by UK Oil & Gas, EY has come up with a broad spread for the potential economic impact of the finds.

EY said the Kimmeridge limestone in the Basin “has the potential to generate significant economic value to the UK economy, partially offset the decline in oil production from UK fields, support employment, and generate significant tax benefits to the exchequer”.

Among its projections were that it could produce between 4% and 27% of the UK’s daily oil demand.

It could add £7.1 billion to £52.6 billion to the UK economy, create between 1000 and 5600 jobs and contribute £2.1 billion to £18.1 billion in taxes.

EY said: “Conceptual studies and oil-in-place estimates previously conducted suggest a significant opportunity for the UK to secure a proportion of its energy from the Weald Basin.”

UK Oil & Gas today also bought out one of the minority investors in Horse Hill, the Gatwick prospect. It is paying £1.8 million for Angus Energy’s 7.8% stake, lifting its stake to 27.3%

[beebong1] 18/4/2016 16:52

Just glad I ignored the major re-rate prediction on publication of the E&Y report.

[moneymunch] 18/4/2016 16:49

Brent's trending upwards, back to $43 plus.

[datait] 18/4/2016 16:30

watch and weep them that sell only to see this shoot up.

[moneymunch] 18/4/2016 12:07

Lol hazl, it's nailed on. ;-)

[hazl] 18/4/2016 12:05

gl to us moneymunch

[moneymunch] 18/4/2016 12:02

The most transformational upside opportunity for years. Exciting times for those invested for the long term. ;-))))

[moneymunch] 18/4/2016 12:00

More good news expected now from Nutech and Xodus OIP reserves upgrade and reservoir analysis on estimation of recoverable volumes. Gla Onwards and upwards as Ukog develops into a major UK Oil producer on the likely billions of barrels of high quality oil across their license area's. ;-)))

[funkmasterp12] 18/4/2016 11:47

FT Alphaville on today's news:

PM
Why are Angus Energy Holdings selling out?

PM
Are they mad?

BE
Hm.

PM
Or is this Lenigas unwinding his cat's cradle?

PM
Not sure

BE
So this EY-commissioned report find that Horse Hill might be worth between £7bn and £52bn to the UK over forty years ..........

BE
Assuming 2,400 wells at the top end of forecasts.

BE
That's, uh, a lot of wells.

PM
Sure is

BE
I'm also a little unclear about why UKOG's put this report together.

BE
Or rather, commissioned it.

BE
Is it for lobbying purposes? As far as I can see, EY's just put together some fan charts using the data to hand.

BE
That's awfully nice, deeply theoretical and nearly entirely irrelevant to the investment case.

BE
Good luck though, I guess.

[leemaids] 18/4/2016 11:17

I hope your right datait, I've just topped up!

[datait] 18/4/2016 11:06

watch and weep Murphyl hope you sold lol

[datait] 18/4/2016 11:05

Moving on uppppppppppppppaaaaaaaaaaaaaaaaaaaaaa