Uk Oil & Gas Share Discussion Threads

[funkmasterp12] 27/5/2016 11:37

That's why I was surprised the price didn't drop before the placing as that has been the current trend on AIM lately.

[nidgeyr] 27/5/2016 11:27

Lots of buys today but downward trend continues towards admission date?

[andysand] 27/5/2016 11:14

Yes. They are forward sold. I think it is probably illegal but happens all the time.

[beebong1] 27/5/2016 10:09

here's one for the financial experts amongst you.

"The Company will apply for the admission of the New Shares to trading on AIM and such trading is expected to take place on or around 2 June 2016 ("Admission")."

Until then who has the shares?

Can the II sell before the shares are admitted to trading and if so how?

[moneymunch] 27/5/2016 08:15

3 x 90 day production flowtests, suggests 270 days and lots of revenue from the sale of the production test oil, 90 days each, starting at the bottom, the lower limestone and work their way up.....if the lower limestone flows as they hope this will be enough for full market appreciation imho as the more prolific upper limestone that lies above the sweet spot within the Kimmeridge interval will undoubtedly flow as expected as well.

ps what a lovely problem to have.......how do we shift so much oil....Lol...gla holders. ;-)

KIMMERIDGE LIMESTONE OIL PRODUCTION

Can be produced with low visual impact
-
12-24 wells in 4-6 acre site
-
Wells and pumps below ground level
-
Control production to reduce initial road tanker impact
-
Can be located in brown field sites and away from villages, houses, small roads

KIMMERIDGE LIMESTONE OIL PLAN TO 2018

The journey has just begun
-
Consolidate and increase licences holding in Weald Basin - control the Kimmeridge Oil play
-
Bring Horse Hill/Gatwick Gusher to production
-
3x 90 day production tests (2016)
-
3D seismic (2017)
-
Horizontal production wells (2017)
-
Show HH-1 resources can be repeated to south and west in the Basin sweet-spots

Holmwood-1 well (2016/17

2 others identified wells (2017/18)

[beebong1] 27/5/2016 07:54

IMO they will not carry out an ewt at all 3 levels at the same time as this could potentially ruin the well due to the pressure differences at the different levels. That is why they did the Portland and the two Kimmeridge levels independently and that is how it will be planned for the 3 x 90 day periods otherwise why say that in the RNS.
What we don't know is will they re-perforate at different levels or carry out the ewt in the same places.
The maximum flow rate we got was about 900 bopd under natural conditions and I do not expect to see that exceeded under the pump.
The last ewt produced approximately 3000 barrels of oil which probably grossed $120,000 giving UKOG about $32,000 gross.

PS They will probably need to run tankers continuously if they operate the ewt 24/7 IMO. This again highlights the problems of getting oil off site which really does need to be solved.

[datait] 27/5/2016 07:36

Certainly not one to be out of top up while you can I certainly am.

[moneymunch] 27/5/2016 06:21

ps on full optimisation and increased pump capacity, this years expected 90 day production flowtest could be producing far in excess of 1,700bopd and therefore generating much more revenue, 27.3% to Ukog at this stage, and so another 10% or more to Ukog on any acquisition will be great business, especially by the time HH goes into full production and the prospect of many 1000bopd. Gl ;-)

[moneymunch] 27/5/2016 06:09

Well said forwood and welcome back.....get ready for the good news. Gl ;-)

[forwood] 27/5/2016 03:38

I suspect the Nutech report report is almost ready to go. An advance draft with some preliminary figures could well have supported the cash raising.

Nevertheless, it is disappointing that the discount was so considerable because it has unsettled the SP, with potential to encourage further selling down towards the placing price. However, I think it unlikely that institutional investors would be interested in making what will be a small turn in context of the substantial gains to come. Also, any news the Company has acquired more HH asset (good possibility) and release of the reserves update (high probability of a substantial increase) should offset that tendency.

As to the Company's need for cash, let's not forget that the increase in PoO to c $50 means that the current vertical well producing 1700 bd generates £4m pa above the stated $40 breakeven price. A multipad horizontal well could be upwards of 10 times that. Another $10 on PoO doubles that, and so on.

You have to see this as at least an 12 to 18 month hold / play, with plenty of action over the period. I will certainly be looking to buy more within the next two weeks.

[robbie1424] 26/5/2016 19:48

I'm very dubious about ukog now.

If this was an amazing find and yes flow rates were good(too good)then this management team would have got a placing away very easily for 15-20m as that is what it's going to take.

After they have paid to keep the lights on and their wages + their liabilities elsewhere it leave next to nothing.

If indeed HH hold so much oil it's going to take ALOT of drilling to get at it.

Yes I can look at it another way and say they do long term flows, get report confirming x amount of barrels then get another placing away at a higher price
But placing 4m to me stinks.
They have 4 months of my time to move this on or I dump ukog and I would advise other investors to do the same.

Starting to feel like we have been shafted again just so a AIM casino company can keep paying themselves good money on the back of investors.

I knew it was a gamble and now after that pitiful rns it looks more of a gamble.
Hope I'm wrong and management are going for number 2 to prove up some barrel rates then place again.

If this was such an amazing find why have the gov not mentioned anything or fast tracked HH?

Tick tock

Everyday that passes ukog bod are using investors money and draining the kitty.

[beebong1] 26/5/2016 18:17

OIP is OIP no matter whose it is. Fail to understand your point which does not surprise me nor why you mention HHDL as the % of UKOG's interest has no impact on any of the 3 subjects.
EOS as you repeatedly fail to understand the basics IMO and try to confuse with repeated posts that have no relevance.
I would love to know why you would invest £26k knowing a placing was imminent and the share price likely to fall which you leaves you nearly £5k down when you could have waited to buy at a lower price.....
Mug, money soon parted springs to mind.

"Given these exceptional results, the Company has commissioned Nutech to investigate a possible upgrade to the oil in place ("OIP") calculated within all 3 test zones together with engineering studies to examine possible flow rates from a horizontal well. Reservoir engineering analyses by Nutech and Xodus are also underway, and will likely result in an estimation of potential recoverable volumes. Results of these studies will be reported shortly."

[moneymunch] 26/5/2016 17:57

ps as per the last Nutech report.....it was commissioned by Ukog and not HHDL, and therefore only relates to Ukog's interests, and as such the newly commissioned report by Ukog can't be completed and released if Ukog are in the process of acquiring more % interest!!!

ps the clue is in the heading title of the previous Nutech Rns.

21 October 2015



UK Oil & Gas Investments PLC

("UKOG" or the "Company")



Nutech Assessment of UKOG Weald Basin Interests and Wider Weald, Onshore UK



UK Oil & Gas Investments PLC (LSE AIM: UKOG) announces that it has received an oil in place ("OIP") volumetric evaluation that it commissioned Houston based Nutech, a leading specialist in the evaluation of tight oil plays, to conduct over eight of the licence areas in which the Company has an interest in the Weald Basin and also over the wider Weald Basin, located in southern England (the "Report").



Key Points:



· A gross best estimate ("P50") OIP of 15.7 billion barrels ("BBO") is calculated to lie within three Jurassic shale and interbedded limestone tight oil plays underlying the 8 licence areas in the Weald Basin in which UKOG has an interest ("Licence Areas", covering 151 sq miles see Table 2).

· Within this gross best estimate, an aggregate net attributable 3.9 BBO P50 OIP is calculated for UKOG's economic interests in the Licence Areas.

· The three Jurassic tight oil plays underlying the wider Weald Basin's 1,261 sq mile area (the Area of Interest "AOI") are calculated to contain a gross best estimate P50 OIP of 124 BBO. Please note that other than UKOG's eight Licence Areas, in which it is calculated UKOG has a net attributable 3.9 BBO P50 OIP, the Company has no further economic interest in the AOI.

[moneymunch] 26/5/2016 17:51

Lol....i was the one who was being sarcastic........of course the report is price sensitive.....but as per my post from yesterday if you care to re-read it....if Ukog are in negoiations with Mpet to acquire some of the 35%, Nutech can't complete the report until they know exactly how much % interest of HH Ukog owns, therefore it's not being held back....only delayed until the acquistion is concluded!!!

[rayrac] 26/5/2016 17:44

robbie, with you on not enough. £20m min in my book. £4m before expenses? Looks like the Aussies are taking the Brits for another ride..why not, most do.🚴🏽;

[beebong1] 26/5/2016 17:27

Nope. Sarcasm.

PS The report strikes me as price sensitive so cannot be withheld especially as it also affects MPET SP;

General disclosure of price sensitive information
11. An AIM company must issue notification without delay of any new developments which
are not public knowledge concerning a change in:
♦ its financial condition;
♦ its sphere of activity;
♦ the performance of its business; or
♦ its expectation of its performance,
which, if made public, would be likely to lead to a substantial movement in the price of its
AIM securities.

[beebong1] 26/5/2016 16:56

isn't it normal to push out some good news before a placing!

[temmujin] 26/5/2016 15:09

been told big news AST tomoro

[fission453] 26/5/2016 14:59

Now the placing is out watch out for a load of good news including the nutech report!

A multi bagger in waiting !!!!