Uk Oil & Gas Share Discussion Threads

[moneymunch] 04/5/2016 10:38

Following the acquisition of Angus's Energy's 7.8% HH interest......more to come according to SS.....gla longs ;-)


Stephen Sanderson, UKOG's Executive Chairman, commented:

"Following the recent highly significant HH-1 flow test results this acquisition is an important and entirely logical step for the Company. It provides us with a far more material interest in the exciting HH-1 Portland and Kimmeridge limestone oil discovery, and importantly, is part of our ongoing strategy to consolidate and expand our licence position in the new and potentially significant Kimmeridge Limestone oil province.

With our increased interest in Horse Hill we will be looking hard at translating the commercial flow rates seen from the Kimmeridge and Portland flow tests at Horse Hill - 1 towards commercial production. To this end, further long-term production tests of all zones are now planned by the Horse Hill Licence holders within the next year, subject to regulatory approvals. These tests are planned to be followed, by a number of horizontal Kimmeridge Limestone side-track wells, 3D seismic and a new stand-alone Portland appraisal/development well.

The next year to 18 months will be an exciting journey for both the Company and the new Kimmeridge Limestone oil play. We know HHDL are committed to putting the Horse Hill Portland and Kimmeridge zones in to long term production as soon as practicably possible."

[moneymunch] 04/5/2016 10:27

The higher % you have, the greater potential value and returns on your investment, near, medium and long term, and so best for Ukog to buy as much of Mpet's % as possible now whilst it is relatively cheap, as SS and the BoD are convinced of HH's commerciality, rather than wait for it to increase in value as HH is developed. The more Ukog own, the greater revenue and value on production and/or any future JV from a prospective Oil Major suitor.

[funkmasterp12] 04/5/2016 09:42

I still can't believe you actually want UKOG to buy MPET's share. It makes no sense. The financial implications would cripple the company short-medium term. As I said above, you'd be waiting years to make any kind of return.

Let them prove what they have first.

[moneymunch] 04/5/2016 07:30

Lol funky, Mpet who are in financial distress, state that there is no near term revenue because full production is still in the planning stage. The 90 day production flowtest will provide some revenue but not enough for Mpet's immediate requirements, hence the sale of all or part of their 35% along with much of the rest of their extensive exploration portfolio. The proof of concept of the Kimmeridge Interval at HH has been proven from the stunning flowtest results.....and it's commercial potential looks nailed on, even at the current low price of oil.......and with the Nutech and Xodus reserves upgrade and estimation of recoverable volume expected, i would say that news is coming soon. Gla longs...upward momentum from now on in. ;-)))

[funkmasterp12] 04/5/2016 07:16

The market cap of MPET is only $5m so yes, based on what UKOG paid for Angus if they wanted MPETs share then it would be materially (ie above 10%) of the current market cap.What that doesn't mean is that it'll be in the millions! The MPET report you quote above also clearly says that they do not believe there are any immediate revenues to come from HH and the potential is still unproven.As I've said before it would be madness for UKOG to buy any further share now this early. You'd be diluted to smithereens in the process and it would take you months, if not years to even break even on any buys above 2p.And please stop saying "news is coming!". It might be, it might not be. It just looks desperate.

[tmmalik] 04/5/2016 07:04

No RNS this morning

[oakville] 04/5/2016 05:02

Must admit I am surprised to see it back to these low levels, and lower and I'm in.

[moneymunch] 03/5/2016 21:58

Lol TU, facts indeed, where the flow of oil from the Kimmeridge limestones at HH have been outstanding, beyond all expectations.....now who's going to grab Mpet's 35%???? Gl ;-)

The Kimmeridge Clay Formation is a sedimentary deposit of fossiliferous marine clay which is of Jurassic age. It occurs in Europe.

Kimmeridge Clay is arguably the most economically important unit of rocks in the whole of Europe, being the major source rock for oil fields in the North Sea hydrocarbon province. It has distinctive physical properties, log responses, and palynological signature.

It is named after the village of Kimmeridge on the Dorset coast of England, where it is well exposed and forms part of the Jurassic Coast World Heritage Site. It exists across England, in a band stretching from Dorset in the south-west, north-east to East Anglia.

'

[theuniversal] 03/5/2016 19:57

In all fairness to moneymunch. I remember the story of BP's ceo saying back in the days that if their was any oil in the north sea he would drink the first barrel. People have been proven wrong in all walks of life the high and mighty aswell... facts speak for them selves beware not to speak with a foolish tounge.

[moneymunch] 03/5/2016 19:12

Big news coming soon.....either Ukog buying more of or all of Mpet's 35% of HH or maybe even a Major moving in early for a share of the multi-billion potential and prospects.

Fingers crossed that Ukog have first refusal on Mpet's 35%.............place away for as much as ukog can grab, another 10% of HH at the very least. Gla ;-)

[moneymunch] 03/5/2016 18:33

or can you imagine if a Major Major came in and snapped up Mpet's 35%.....Boom time in a Blink for Ukog's sharholders!!! Gla ;-)))

[moneymunch] 03/5/2016 18:07

News coming soon on Ukog increasing their HH % interest from Mpet's 35% ???

ps Mpet's current market cap is $5.16m

"could be accomplished in the relatively near future and could result in proceeds being received by the Company that are materially greater than the current equity market capitalization of the Company"

Magellan Petroleum 20/4/16

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. The Company believes that the receipt of proceeds from the monetization of the above-listed assets could be accomplished in the relatively near future and could result in proceeds being received by the Company that are materially greater than the current equity market capitalization of the Company as of the date of this proxy statement, although the amount and timing of such proceeds, if any, are uncertain.

[atino] 03/5/2016 16:38

What a lovely VIDEO...of that "hill"...full of horse sh*te ! (LOL) *__^

Kimmeridge Oil, Conceptual development plan - Horse Hill, UK -

[beebong1] 03/5/2016 15:27

Some interesting trades today

03-May-16 08:48:52 2.10 5,593,738 Sell* 2.102.20 117.47kO

03-May-16 08:51:42 2.10 5,000,000 Sell* 2.102.15 105.00kO

03-May-16 08:51:55 2.09 5,000,000 Sell* 2.102.15 104.50kO

03-May-16 09:02:09 2.05 1,006,104 Sell* 2.002.10 20.63kO

03-May-16 14:23:18 2.05 1,250,000 Sell* 2.052.10 25.63kO

Drop in POO to $45 as well.

[moneymunch] 03/5/2016 15:26

Ps your opinion was the same that many had about the North Sea's multi-billion barrel potential pre discovery and production, and yet the North Sea's source rock is the same Kimmeridge interval that runs across the majority of Ukog's license area's. Gla :-)

[funkmasterp12] 03/5/2016 15:26

I don't think it's me in denial...

[moneymunch] 03/5/2016 15:22

Lol that's your opinion, and was your opinion pre-flowtest. The market is still in disbelief and the detractors like you are obviously still in denial, regardless. If any other Aim listed company had similar flowtest results and multi billion potential but we're located in a far flung third world desert, their sp's and market cap would be multiples of Ukog's, but because HH is on our green and pleasant doorstep, you just can't get your head around it.....gl :-)

[funkmasterp12] 03/5/2016 15:14

Trending upwards on what timeframe?

All of the good news is now in the price. People know a Nutech report is coming and people like you are assuming this to be akin to the Second Coming. If it disappoints, even minutely, the share price will tumble very quickly.

Not to mention that UKOG itself is already overvalued, has just valued its prize asset at a tiny % of the MCap and will run out of money.

[moneymunch] 03/5/2016 15:11

Lol funky, no significant downside, the fluctuations of an share price trending upwards is normal and healthy as the the short termers are encouraged to part with their shares. Gl :-)

[funkmasterp12] 03/5/2016 14:58

"No downside from now in imho"

Moneymunch I know you're hanging on b/e at these levels but come on...

[tmmalik] 03/5/2016 14:37

Get ready for 3p.

[moneymunch] 03/5/2016 12:44

Lol all will come good for him soon enough . Gla holders. No downside from now in imho, and significant upside very likely on the imminent reserves upgrade. :-)))

[1i1i1i] 03/5/2016 12:20

It seems DATAIDS is in over his head here on desperate T trades. The sad loser is ramping this all over share boards.