Uk Oil & Gas Share Discussion Threads

[aimsharesone] 24/4/2016 08:30

Hargreaves Lansdown Top of the stocks UK Oil & Gas Investments plc
24th April 2016

[robbie1424] 23/4/2016 22:02

Gismo- Guessing?
No guessing.
Ukog are going to be putting all their eggs into one basket here.
They will take a further stake in HH and that's gonna take money.

It will certainly show they are serious about HH.

Even without purchasing another stake they will need to place but it will be a big one straight after the report hits.

The road to extracting Bs of barrels of oil is along one.

It will also show what other companies think of HH as there is 35% up for grabs.

So let's see what the real market(companies) thinks of HH.

It's all in for Ukog.
Win big or bust

[theuniversal] 23/4/2016 20:23

MM dont think magellan will sell all there %in HH maybe %15 . they are in the process of selling some of their USA assets at the mo. It may cover what they need. Imho

[beebong1] 23/4/2016 18:45

ok so I made an error but just goes to show what happens when decimal point is in the wrong place. 400m shares would increase issue by 20% and allowing for probable drop in share price 400m would need to be increased to make the issue price to reflect any possible drop.
Still not the sort of dilution I would want as a shareholder but each to their own.

Spot on On Target.

[hazl] 23/4/2016 18:20

Sure to give us more visibility at the investor-show today,we will get some feedback I would have thought.

[runtus] 23/4/2016 16:33

hxxp://www.energylivenews.com/2016/04/21/gatwick-oil-could-add-52-6bn-to-uk-economy/

I notice energy live new reported on the EY findings. The uk government need a sovereign oil fund, if we don't have one already for the North Sea. :-)

[moneymunch] 23/4/2016 16:09

Not all, maybe shared with Solo, Stg et al, another 10% or so would do.
Ukog have payed for all their current drilling costs at HH and the recent warrants exercised at c£400k paid for their share of flowtesting costs and probably covered costs for the Nutech/Xodus report etc, and so Ukog currently have £3m plus cash at the moment and still have the £9.6m draw down facility if required, and drilling at Holmwood isn't expected until 2017. gl ;-)

ps Ukog's current market cap is c£40m against c2 billion shares, and so to raise £10m would amout to .5 billion shares at 2p.........therefore Ukog would have 2.5 billion shares after a £10m placing, i could live with that....bring it on.......gla longs. ;-))))

[on target] 23/4/2016 16:06

"A placing of 4bn shares!!"

No, 400m shares.

[beebong1] 23/4/2016 14:28

SS should have finished now. Doesn't look like anyone from here went. Couldn't find where or if they were going to put any videos or sound bites up.

[beebong1] 23/4/2016 14:19

Magellan own 35% of HH. UKOG paid the equivalent of £1.8m for Angus 7.8% so pro rata would mean approximately £8m value for the 35%.

A placing of 4bn shares!!! Over double the number of shares we have in issue now.

edit. ok so I made an error (at least it was an easily noticeable one) but just goes to show what happens when decimal point is in the wrong place. 400m shares would increase issue by 20%

REALLY!

Whilst they may still have around £3m in cash (will depend on how much annual admin charges were for last financial year) they still need to pay for the following at some time out of that;
Cost to join ISDX
Fees to Schlumberger, Xodus and Nutech
Payment for Holmwood drilling costs £1.8m
Annual admin charges from September 2016 onwards
UKOG share of drilling at HH

That £3m is going to be eaten up quite easily IMO so a placing would be to keep the cash flowing in to pay for the above. Better to do it now whilst the share price is probably as good as it is going to get until they start getting some real cash coming in.

[hazl] 23/4/2016 13:51

Master investor show in full flow at the moment I guess.

[hazl] 23/4/2016 12:36

GL to you as well.
These projects always require money to fund them.
However at present there are plenty of additional things to think about.

imo

[moneymunch] 23/4/2016 12:24

It's the perceived fear of a placing that's holding back the share price hazl, and obviously it looks like Mpet's share of HH is there for the taking. Ukog have c£3m in the bank, enough working capital for 2016, but not enough if they want Mpet's share of HH. Even if we get a stellar reserves upgrade, there will be many investors no doubt who will be hesitant because of the prospect of a future placing.......best way forward as far as i'm concerned is a placing first, big enough to enable Ukog to take out Mpet and provide enough funds to satisfy the market for future development at HH, Holwood IoW etc.......and a fully funded Ukog with increased share of HH will see all and sundry come on board including the institutional investors and drive the share price to new highs, to reflect fair value for the stunning potential and prospects ahead. I'm here for the long term. Gl ;-)

[hazl] 23/4/2016 12:08

As gismo says,everything is fine, we await news, particularly the Ernst analysis in my case,and that can't be far off.
It's an exciting and busy time for the company.
I don't know why, even you, keep on about a placing MM?

Speculation is fairly futile.....the only thing I can say is that there is a certain buzz of anticipation and that everything will become clear in due course!
imo

[moneymunch] 23/4/2016 11:43

Magellan need cash fast.....placing imminent if Ukog wants to take it on. Gla ;-)

See Page 10 in link for full details.

In addition, to maximize its chances of executing this strategy and identifying an attractive business combination candidate, Magellan is actively seeking to monetize the right to the Mereenie payments, its interests in the Weald Basin licenses, and its interests in the Horse Hill-1 well and any related assets. The Special Committee believes that converting these assets into cash will make Magellan more attractive to potential merger candidates as we de-risk and clarify the valuation of the Company’s remaining assets. The potential sale of the Company’s interests in the Weald Basin and the related settlement of its litigation with Celtique Energie would further enhance the Company’s profile by reducing the uncertainties associated with those interests.

[moneymunch] 23/4/2016 09:46

Lol my nerves are steady, just like the share price ......negligible downside, even on a massive placing ( is that why the share price has been held at c2p all week??? ), i hope so, the sooner the better imho which will be green light for the next push up as investors and city institutions flood in to a completely fully funded Ukog with multi-billion barrel prospects, and then followed by the reserves upgrade and estimation of recoverable volumes would be perfect to take the share price to new highs.

Ukog have still got c£3m in the bank and so there's no immediate requirement for a placing, and so the reserves upgrade could come first, but more funding will be needed in the not too distant, and so if this is a reason why the share price is flat, then bring it on........Boom time fast approaching. Gla ;-)

[hazl] 23/4/2016 07:56

indeed Gismo

[gismo] 22/4/2016 22:40

Hazi I'd rather see it bounce off 6p but it's all a guessing game at present. Let's hope the news is soon to steady all our nerves. Gla

[hazl] 22/4/2016 22:21

Yes I'd rather see it bounce off 4p!....... here's hoping!


IMO

[gismo] 22/4/2016 20:31

Robbie stop guessing please. SS said he has enough money for this year and we have no idea when the report will be back although I hope it's soon. Getting quite boring watching us bounce off 2p. Gl

[robbie1424] 22/4/2016 19:31

Ukog should get news next week and then they will do a placing very similar to 88e.

[beebong1] 22/4/2016 18:38

Just hope SS finishes on time or DL will be pinching his audience.

[moneymunch] 22/4/2016 15:41

DL, Jim Mellon as well as SS.....gl with ffwd, looks like i a missed the boat on that one. ;-)

ps a coiled spring comes to mind here, something's got to give and so fingers crossed for a stellar upgrade next week and plenty of upside......back to 3p plus in a blink, although i would be happy with a placing first thing Monday if that's what's holding back the share price Gl ;-)