Uk Oil & Gas Share Discussion Threads

[rayrac] 26/5/2016 14:16

Looks like the shares are coming back onto the market. Can't blame them if they can get a premium, take it?

What might be termed a double screw. Trouble is, we are on the end of it....as per...

[beebong1] 26/5/2016 14:12

"The proceeds of the placing will be used to supplement the Company's existing cash balances to specifically facilitate:

• Furthering the Company's existing Weald Basin portfolio activities, and in particular those activities focussed on near term strategic growth;

• Potential investment into new Weald Basin and Southern UK onshore oil and gas activities within the Company's investment strategy;

• General corporate purposes."

It will be interesting to see what the money is used for. I don't count out another placing before they actually get a well into production so quite happy playing the peaks and troughs.
We have seen forecasts of 10p, 5p and now 3p from some PI's so the level of understanding is finally sinking in to some although I do see 2p as the norm for the rest of the year with minor fluctuations either side IMO.

[tracy_moore] 26/5/2016 14:11

Gl to genuine holders, the rest are just noise.

[moneymunch] 26/5/2016 14:07

Lol i topped up earlier funky and it makes perfect business sense to acquire more of HH given the flowtest data so far, and the imminent reserves upgrade will very likely increase the value of every percentage point that UKog owns, and increased revenue stream from the sele of oil from the 90 day production flowtest expected this year.....exciting times ahead from a fully funded Ukog with so much upside potential......Big news coming, Big bounce coming. Gl.:-)

[funkmasterp12] 26/5/2016 13:50

moneymunch - assume you'll be averaging down on your £23,000 buy at 2.2p now then?

[funkmasterp12] 26/5/2016 13:48

And again I go back to another point I've repeatedly made. Buying MPET's share would be suicide. You'd see placing after placing just to keep the lights on as the costs spiral out of control.

[funkmasterp12] 26/5/2016 13:45

Ha, well, I did say a placing didn't appear to be in the offing and I did get that wrong.

But I also definitely didn't say that a placing would be at a premium or at 1.93p, unlike:

moneymunch - 19 May 2016 - 15:50:36 - 3652 of 3757
and so a placing at c2p could be on the cards, along with news of further acquisitions and the reserves upgrade from Nutech. ....

moneymunch - 09 May 2016 - 12:13:55 - 3576 of 3757
Maybe one big Rns on its way.....placing at a premium

etc, etc, etc

[datait] 26/5/2016 13:28

This is a great op to get in at a cheap price even if it does fall lower it wont be much and certainly wont be for long.

[tmmalik] 26/5/2016 13:17

Good luck for those who think share price will move up and better luck for those who are taking risk to wait for below 1.60 on 2nd June morning:)

[moneymunch] 26/5/2016 13:17

Junior UK Oil & Gas Investments PLC (LON:UKOG), which has a stake in the high profile Horse Hill project near Gatwick, has raised £4mln via a share placing to further advance its Weald Basin portfolio.

The cash comes from the issue of over 266.6mln shares at 1.5p each to institutional funds - that's around a 21% discount to last night's closing price of 1.9p.

The firm, whose shares are down over 10% on Thursday to 1.7p, said the funds may also be used to further investment into new Weald Basin and Southern UK onshore oil and gas assets.

The firm currently holds 11 oil and gas assets held under Petroleum Exploration and Development Licences (PEDL). It recently lifted its stake in two Horse Hill licences to 27.3%.

The operator at the project is Horse Hill Developments Limited (HHDL).

Earlier this year, flow testing at Horse Hill measured aggregate flows amounting to 1,688 barrels of oil per day from three separate zones in the vertical exploration well.

The focus for future activities in the licences will be to carry out further extended well tests in the Kimmeridge Limestones and appraise the Portland oil discovery

[moneymunch] 26/5/2016 13:14

Lol at 1.75p were c17% up on placing price , speaks volumes on confidence in significant upside expected on the positive newsflow that's imminent. Gla holders :-)

[beebong1] 26/5/2016 13:01

MM's and II's must be taking a hammering after they have been mopping up all the shares recently!!!

so much egg on face for some who will still probably buy into a falling SP! when will they ever lean!

[moneymunch] 26/5/2016 12:57

Ps i feel sorry for anyone who sold too low or for those who stop losses were triggered......:-(

[moneymunch] 26/5/2016 12:54

No....the only ones with egg on their faces are the ones who thought this would drop below the placing price......news of further acquisition from the financially distressed MPET is imminent imho....and the reserves upgrade is imminent.....3p plus plus by the time news on both arrives. Gl :-)

[justin quisitive] 26/5/2016 12:47

Will i have egg on my face, if i were to say 2p at lunchtime tomorrow ?

[moneymunch] 26/5/2016 12:32

Ps Justin the placing will provide Ukog to buy some of Mpet's 35% of HH etc, and provide enough capital for the foreseeable, they already had a few million in the bank....Acquisition news next and then the STELLAR reserves upgrade......massive re-rate imminent on a fully funded Ukog with increased % interest at HH on the back of billion barrel potential of the sweetest crude you can get......don't delay, and the rise in POO is the icing on the cake. ...:-))))

[moneymunch] 26/5/2016 12:26

Blue skies on Brighton Beach.....big bounce everywhere....."Talking about my baby".....lol....Onwards and definitely UP!!! :-)))

[justin quisitive] 26/5/2016 12:14

Will the placing endorse the rise in confidence of the anticipated oil price rise ?

[moneymunch] 26/5/2016 12:13

Lol watch and weep then Reynolddog.:-))))

[moneymunch] 26/5/2016 12:11

Blue finish with any luck.....load up now for undoubted upside as oil heads high!!! :-)

[reynoldsg] 26/5/2016 12:10

I plan on topping up around 1.3-1.4

[moneymunch] 26/5/2016 12:09

Pps Maybe more news this afternoon if Mpet have to report any monetisation of their HH to NASDAQ at opening or will Ukog be able to report first tomorrow at 7am......gla the reserves upgrade and estimation of recoverable volume will take the market by storm imho.....any news of early permit approval for the 90 day production flowtest will add significant Value. :-)

[moneymunch] 26/5/2016 12:04

Ps funky, you numptie. ....you told us what??? Oh yeah, yesterday you said no placing likely, I said the opposite...lol....gl :-)



UKOG strikes oil 2016 - UKOG
FunkmasterP12 - 24 May 2016 - 10:39:25 - 3704 of 3741
Well, the good news is that it doesn't look as if a placing is in the offing yet.

[moneymunch] 26/5/2016 11:57

Shopping in Brighton for birthday presents for the better half, just seen the fund raising news, I was expecting it slightly higher but it is what it is.....Ukog fully funded with news of some or all of Mpet's 35% and other UK Weald interests.....and then the STELLAR reserves upgrade from Nutech/ Xodus.....Fill your boots!!! Gla holders ;-)

Ps heading off to the beach.....:-)))