Uk Oil & Gas Share Discussion Threads

[y0u] 15/6/2016 11:32

I'd at least like to break even before they do another placing! This is becoming a share to trade rather than an investment.

[baldrick1] 15/6/2016 08:49

I'm with moneymunch only on the quiet side.ukog now holding quite a number of very viable assets the future is bright for our future pensions.

[moneymunch] 15/6/2016 08:45

Lol, i'm here for the long term Ray and there's not many other opportunities that offer the same transformational upside as Ukog. The current share price has been impacted by market sentiment, but most recently by the placing and now Brexit concerns, although there were well over a couple of hundred other listed companies who were down more than Ukog yesterday.

As well as increased % interest in the Weald's sweet spot, the £4m raised now puts Ukog in a very strong cash position, with well over £6m cash in the bank, and are now pushing ahead with their development plans with extended flowtests at HH including plans to test the third and deepest limestone, and so a significant revenue stream is very likely from the sale of the test oil if it flows as expected. At least two more wells to be drilled in 2017 to target the Kimmeridge at Holmwood and the newly acquired acerage all adds to exciting potential upside ahead, with so much expected positive newsflow as development plans, permit's, approvals and timelines are confirmed.

At the end of the day Ray, it's all about how much oil is in the ground and how much is recoverable, and so far the data suggests this could ultimately be billions of barrels, and of such a size that the imminent reserves upgrade might be delayed not just because Nutech/Xodus have to add the recent acquisitions into the equation, but more importantly until Brexit is out of the way because of it's likely national significance and undoubted good news story for UK Plc which ever way the vote goes.

Gl, Exciting times ahead for those invested. Ukog are on a one way trajectory from small cap explorer to potential leading UK mid cap/major oil producer. ;-)

[rayrac] 15/6/2016 07:43

Some guys appear to be losing faith and you are looking rather isolated MM?

[moneymunch] 14/6/2016 16:00

as well as the Nutech/Xodus reserves upgrade and estimation of recoverable volumes, which now includes Ukog's latest acquisitions. gl ;-)

[beebong1] 14/6/2016 15:15

The last unaudited results for the six month period ended 31 March were published on the 24th June last year.
Something to look forward to.

[moneymunch] 14/6/2016 15:15

Ps Perfectly poised for some serious upward momentum imho. Gl :-)

[moneymunch] 14/6/2016 15:10

That's brilliant forwood, thankyou very much. :-)

[moneymunch] 14/6/2016 14:52

Cheers forwood , that one is a bit too big and busy, there's a good example of the type I was after on currypasty's TRP thread. :-)

[forwood] 14/6/2016 14:32

Hi moneymunch

Not sure I can do this:

9 Jun'16 - 17:25 - 4064 of 4154

Hi forwood, I asked the other day if you could insert the day chart that shows all the trades that go through, nice if you can, but I'd also appreciate if you can insert the long term chart into the header as well, it looks rather suggestive of good things to come. Gl and Tia. :-)

If you mean something like this, with volume analysis, I will have to ask advfn, as I can't see how to do it (unless someone else knows):


free stock charts from uk.advfn.com

[beebong1] 14/6/2016 11:49

Miners and commodity stocks fell as the price of a barrel of Brent crude fell 1.4% to US$49.65
London shares tumbled on Tuesday as falling oil prices and EU referendum jitters weighed on sentiment.
The FTSE 100 Index was 81 points adrift at 5964 while the FTSE AIM 100 was 37 points off and the FTSE AIM All-Share retreated 6.4 points.

[dice1950] 14/6/2016 11:16

Q&A with Stephen Sanderson Executive Chairman at UK Oil & Gas Investments PLC (LON:UKOG)
14th June 2016

[beebong1] 14/6/2016 10:00

Referendum Betting Odds kicking in? Odds to stay have been cut.

Nearly all but one of my stocks down today which is odd. All markets down today.

www.oddschecker.com/politics/british-politics/eu-referendum/referendum-on-eu-membership-result

[moneymunch] 14/6/2016 09:14

A great top up opportunity as we await news from Nutech/Xodus. Gla holders :-)

[funkmasterp12] 14/6/2016 09:09

Back below the placing price despite the MPET acquisition news.

[moneymunch] 14/6/2016 08:38

The consideration to CEWL, with an effective date of 10 June 2016, is comprised of GBP625,000 in cash and GBP1.125 million in the form of 71,324,415 UKOG ordinary shares. The consideration to Magellan for both Asset Transfer Agreements, with an effective date of 10 June 2016, is also comprised of GBP625,000 in cash and GBP1.125 million in the form of 71,324,415 UKOG ordinary shares. The issue of UKOG ordinary shares to both CEPL and Magellan is subject to a 6-month lock-in undertaking for both companies.

Mpet Rns

Pursuant to the terms of the Settlement Agreement, MPUK will pay Celtique £500 thousand, in a combination of cash and shares in UKOG pro rata to the consideration payable to MPUK for the ATA Weald. The consideration payable to MPUK net of the terms of the Settlement Agreement amounts to approximately £446 thousand in cash and approximately 50.9 million shares of UKOG worth approximately £804 thousand at the time of the execution of the agreements.

[theuniversal] 14/6/2016 07:48

Both cannot sell/flip these until 6 months so cant see mega shorting as an excuse for the share price to drop below 1p... mpet will have roughly 21m shares in ukog :-) wont do any harm to their share price ... or celtiques for that matter..

[theuniversal] 14/6/2016 07:45

Morning all.Moneymunch forgot to add the payments in shares if i read it right both mpet and celtique get 71m each and payments of 1.8m each but mpet have given 50m too celtique inloo of commitment of licence agreements...

[moneymunch] 13/6/2016 23:28

Hello TU, just back from watching the footie with a few close happy Italian friends, although i think the reception and coverage that the England fans are getting could be a deciding factor on the decision for many on next weeks vote, regardless of what team WRroy puts out...in the meantime the evident slow burn on Ukog's rise looks like the best risk reward opportunity ever ( almost ), and so if the oil is there in volume as the data indicates, then it will be extracted. I'm holding all the way........double figures more than likely by the time HH goes into production and quite conceivably double £'s if Nutech/Schlumberger's assessment is correct, GL ;-)

[theuniversal] 13/6/2016 19:57

Moneymunch didnt SS mention in the interview that the new acerage is possibly bigger than horse hill's 10.1bn oip when the new revised nutech report is out?I was thinking of the old figure of 255 boo million per square mile X 116sq miles is 29 bn oipWould it be to hard to conceive of an update of 300 million per boo per square mile = 34.8bn oip that's 3.48 bn recoverable at 10% X $10 = 34.8bn all to ukog÷ shares in issue=$14.8 per share.Havent factored in gas. Iow. Hh and other acerages

[moneymunch] 13/6/2016 16:22

Another brilliant interview by SS.....transformational prospects and potential. Today's 100% acquisition lies in the lateral sweet spot of HH, and not only doubles their Kimmeridge acerage, but is a 500% net % increase to Ukog in relation to Holmwood's 30% and HH's 27.3%. All the agency permit's are in place to drill, as well as an already constructed well pad site, which is planned to go ahead before the Summer of 2017 at the same time as Holmwood. They will also re-appraise the Godley Bridge Gas discovery which was discovered in the Portland.

All this at the same time HH will be proved up with with 3 x 90 day production flowtests and Ukog also plan to apply to flowtest the third limestone, deeper in the Kimmeridge interval, 4 zones in all, 4x 90 day production flowtest.

EXCITING TIMES AHEAD for all shareholder's, regardless of the opinion of those with a negative agenda/slant. Gla ;-)

[moneymunch] 13/6/2016 15:54

INTERVIEW: UK Oil & Gas Investments Plc Chairman New Acquisition Transformational

UK Oil & Gas Investments Plc (LON:UKOG) Executive Chairman Stephen Sanderson talks to DirectorsTalk about its latest acquisition, a 100% interest in the PEDL234 license. Stephen explains why this particular license, what the acquisition means for UK Oil & Gas, and what the future plans are for the Licence and the Kimmeridge.

[moneymunch] 13/6/2016 13:11

and so let's see what happens to Mpet's 35%.......more news to follow imho, as they probably still need more cash. Gla holders; -)

[beebong1] 13/6/2016 13:10

This is what Magellan had to say.

A cute move by Magellan to settle costs IMO.

The other interesting bit not mentioned in our RNS is this IMO;

"MPUK and Celtique have initiated the process of relinquishing their interests in PEDLs 231 and 243."

Both are Weald and either side of 234 so what happens to them? Back into DECC hands?


Magellan Sells Its Weald Basin Acreage and Settles Litigation

Download PDF
DENVER, CO -- (Marketwired) -- 06/13/16 -- Magellan Petroleum Corporation (NASDAQ: MPET) ("Magellan" or the "Company") today announced the sale of the Company's 50% interests in Petroleum Exploration and Development License ("PEDL") 234 in the Weald basin in the UK to UK Oil and Gas Investments PLC ("UKOG") and the settlement of its litigation with Celtique Energie Weald Limited ("Celtique") for approximately $1.8 million.

On June 10 2016, Magellan Petroleum (UK) Limited ("MPUK"), a wholly owned subsidiary of Magellan, entered into i) an Asset Transfer Agreement relating to the sale to UKOG of MPUK's 50% interests in PEDLs 231, 234, and 243 (the "Weald ATA"), ii) an Asset Transfer Agreement relating to the sale to UKOG of MPUK's 22.5% interests in the Offshore Petroleum Licence P1916 (the "IoW ATA"), and iii) a Settlement Agreement with Celtique. The consideration payable by UKOG to MPUK for the Weald ATA amounts to £1.75 million in a combination of cash and shares in UKOG. The consideration for the IoW ATA is the assumption of MPUK's outstanding payables related to its interests in the Offshore Petroleum Licence P1916. Pursuant to the terms of the Settlement Agreement, MPUK will pay Celtique £500 thousand, in a combination of cash and shares in UKOG pro rata to the consideration payable to MPUK for the ATA Weald. The consideration payable to MPUK net of the terms of the Settlement Agreement amounts to approximately £446 thousand in cash and approximately 50.9 million shares of UKOG worth approximately £804 thousand at the time of the execution of the agreements.

The Weald ATA is subject to customary conditions and the approval by the Oil and Gas Authority of, amongst other things, an extension of the term of PEDL234, the approval of which is expected to be received by the end of June 2016. The completion of Weald ATA, IoW ATA, and Settlement Agreement are conditional upon each other and also subject to the completion of the acquisition by UKOG of the entire issued share capital in Celtique, the terms of which acquisition are based on an equivalent consideration to the Weald ATA. Contemporaneously with these transactions, MPUK and Celtique have initiated the process of relinquishing their interests in PEDLs 231 and 243.

J. Thomas Wilson, President and CEO of the Company, commented, "These transactions represent another important step in the strategic alternatives review process the Company is conducting. Considering that PEDL234 is due to expire at the end of June 2016, we are pleased to have been able to monetize this asset. Moreover, by resolving the dispute with Celtique and following the Exchange Agreement with One Stone, Magellan should be a debt-free and litigation-free company, which we believe are important factors in our ability to attract valuable partners, with which we may enter into a business combination transaction. The proceeds from this transaction will also contribute to satisfy the Company's short term liquidity needs and supplement the cash balance the Company is building from the monetization of its international assets. The Company continues to hold its 35% interest in the Horse-Hill-1 well."