Uk Oil & Gas Share Discussion Threads

[funkmasterp12] 26/7/2016 08:15

Hype and hope.

[smelgys mum] 26/7/2016 08:02

This should be around 0.45p, does anyone know why we have such s large market cap??!

[funkmasterp12] 26/7/2016 07:50

?!? That doesn't even make any sense. And do you really want another 300m shares issued just to pay for an asset now with huge cost requirements on the horizon?You're buying into moneymunch's lunacy and that is incredibly dangerous.

[theuniversal] 26/7/2016 07:48

4million in cash and 300 million in shares for 35% mpet shares plus a nadaq listing to do a placement to fund...

[funkmasterp12] 26/7/2016 07:37

No, the £10m would be required to take over the whole company and create this supposed super hybrid you're banging on about. I tell you what, if that happens I'll buy shares in it. That's how confident I am that it won't!And see my above post re cash flow if UKOG even buy half of MPET. You won't even get to the supposed profit from oil stage before a huge dilution is needed. As you're fond of saying, "good luck" with that.

[moneymunch] 26/7/2016 07:30

Lol funky, Mpet's 35% is there for the taking, Mpet's US Public Listing is there for the taking according to their own recent SEC Filings, your own valuation of £10m for the 35% is twice as much as you leader's, but nevertheless why pay £10m for 35%, when Ukog could be possibly get the whole of Mpet for cheaper, pay all their sharholders off on the new US/UKOG share capital and have access to the US money markets with a Nasdaq listing...it would be a stroke of genius if they had the appetite......one thing for sure is that Ukog intend to acquire more % interest and so if Ukog were to buy half of Mpet's share, they would have 46.2% interest at HH, and therefore a significant stream of revenue from the sale of test oil from the expected 90 day production flowtests, and so potentially plenty of cash/profit to offset any fund raising and ultimately massive profit/income on full production. Gla holders...transformational potential upside ahead!! ;-)

[beebong1] 26/7/2016 07:25

David Lenigas ‏@DavidLenigas 2h2 hours ago
@business If Prime Minister May supports the #UK onshore oil industry, It will be great for Britain. @DoriemusPlc

[funkmasterp12] 26/7/2016 07:12

It would have to be a buy out for that scenario to happen (unless you really think a £33m business can reverse into a £6m one!). And given that would need c. £10m, I cannot for the life of me see why you think that's a good idea. Not to mention the increased costs, governance, regulation etc. Maybe in 10 years, but not now. Shouldn't they worry about proving they can make their share of HH-1 work now?Do us all a favour and don't ever run a public company moneymunch. Of if you do, tell us first do we can short the life out of it.

[moneymunch] 26/7/2016 07:00

Lol Funky you complete and utter numptie.....a reverse shell take over would enable a Ukog vehicle to list on Nasdaq, the long suffering Mpet shareholders would be issued shares in the new venture and Ukog would have access to the US money markets as well as taking full control of Mpet's 35% interest and all other business.

[funkmasterp12] 25/7/2016 23:56

It's ludicrous to even debate such a topic so let's get back to something even moneymunch can understand.

Let's be really generous and say UKOG have £6m cash. They buy half of MPET's share for £2.75m. That leaves £3.25m.

Current cash burn is c. £300k per month from the last cash flow statement (assuming plans for well testing and any further drilling), so imo that gives the company in reality about 8 months until they need to raise fresh funds.

By my reckoning the company would need c. £10m, or 30% extra shares in issue, based on past cost analysis. Assuming Warren Buffet didn't buy in for a 20 year hold, the overhang would absolutely sink the share price

Or - they stay as they are and minimise the cash outflow so that they don't need to dilute as much when the placing comes.

Surely that is the best option for you as a holder, is it not? I mean it's effectively Sophie's Choice anyway, but you pays your money etc.

[funkmasterp12] 25/7/2016 23:46

"but a cheaper option to acquire the full 35% and most beneficial for Mpet's shareholder's and definitely the most beneficial option for Ukog's shareholders would be some sort of merger/shell taker over of Mpet"

Most beneficial for UKOG shareholders?! What on earth are you TALKING about?! So UKOG merges with a company a 6th of its size already on its knees, for no real reason other than to acquire 35% share of a single asset which is already impossible to properly value - which it would then have to share back again with MPET! Not to mention the dilution and total corporate upheaval from a change in ownership and shareholder base.

It's like McDonalds merging with Perfect Fried Chicken because they've got a shop on the Old Kent Road - but Perfect Fried Chicken suddenly getting the benefits of all the McDonalds around it, for nothing!!

You were right the first time, it would be wonderfully beneficial to MPET shareholders - not to UKOG, it would be a bloody disaster! Do you even know how this all works?!

I was wrong, I REALLY HAVE read it all now!!

[funkmasterp12] 25/7/2016 21:09

Nasdaq listing?!! I really have read it all now. If MPET's share is going for £4.5m, UKOG can't afford it. Even if half of it is going for £2.75m, UKOG can't afford it.You'd be instantly diluted and it'd take months, if not years for the share price to recover. But don't let that stop you ramping it.

[beebong1] 25/7/2016 20:34

The article is about "gas fracking". Oil hardly gets a mention in the article and that is only because they talk about oil and gas companies in the same way as it is in the OGA.
All the main govt' initiatives are about the recovery and production of gas.
How many oil fired power stations are there; NONE.
What are the govt. planning on doing when they get rid of the coal power stations; replace them with gas ones.
Which shares do you think you should have been buying!

[moneymunch] 25/7/2016 19:59

Bloomberg

Under May’s New Government, a U.K. Gas Fracking Push Is Probable

July 25, 2016 — 7:44 AM BST

As Theresa May’s new government prepares to take the U.K. out of the European Union, it’s likely to promote one technology shunned by most nations on the mainland -- fracking.



ps and so the conventional extraction and fast tracking of the Weald Oil Basin is likely to be a certainty. gla ;-)

[beebong1] 25/7/2016 18:27

Horse Hill protest trial: 8 campaigners found guilty and 1 acquitted

Full story here but really boring IMO.

drillordrop.com/2016/07/25/horse-hill-protest-trial-8-campaigners-found-guilty-and-1-acquitted/

[beebong1] 25/7/2016 18:09

POO still in gradual decline; $44. IMO this means they will need to produce at least 100 bopd continuously to break even for the production flow test.

[beebong1] 25/7/2016 17:49

In a word; NO, more chance of you doing a "moneymunch" IMO.
I don't think I am the only one who thinks this deal is dead in the water. The sheriff of lse has similar views and I rarely agree with what he says.

[moneymunch] 25/7/2016 17:16

Can you imagine the market response???..... Ukog acquires the full 35% from Mpet, giving them 66.2% interest at HH......a significant stream of revenue from the sale of test oil, and massive profit from full production.....and a Nasdaq listing to boot.......gl ;-)

Going public ( Nasdaq ) through the backdoor

Definition:

The process by which a company comes to have publicly traded shares without an IPO. This could happen through a reverse shell merger, or through acquisition of a public company and offering shares to previous owners.

Read more:

[moneymunch] 25/7/2016 16:21

Oil could well be produced in site near Rowlands Castle
Monday, 25 July 2016 Petersfield Post



A BID to create a “petroleum development” in a woodland site near Rowlands Castle is firmly in the pipeline.
But people in Forestside still have concerns with the F-word despite assurances from UK Oil and Gas Investments (UKOG) about its plans for Markwells Wood.
Oil could be produced in the heart of the South Downs if a likely application to erect a rig at the 1.55 hectare site is approved by planners.
It could be lodged in September as UKOG believes they’ve got “more than a 50/50 chance” of making the site economically viable.
Their plan includes the drilling of four horizontal wells, each extending for 800 metres, from the existing vertical borehole.
Production could run for 20 years but they admit the scheme is “speculative” and carries a huge financial risk.
Fracking, noise and traffic were the biggest concerns of residents who attended a UKOG exhibition last Thursday in Forestside and Stansted village hall.
Brian Alexander, media spokesperson for UKOG, stressed the firm’s proposals do not involve fracking before adding there was no certainty that the scheme would happen.
He said: “There’s a lot of hoops to jump through. It could take a long time but the planning application will go in, with a bit of luck, in September.”
Steve Sanderson, CEO of UKOG, believes the initial construction and drilling phase will be the most disruptive period for locals.
He said: “If and when we have production going they won’t notice or see it at all.
“I think the main issues revolve around traffic but if it’s successful – and there’s a lot of uncertainty attached to that – then we’re only looking at having one road tanker a day.”
Many villagers still have concerns with one of the nearest residents, who did not want to be named, raising fears about the effect of drilling on house prices.
She said: “We moved here to have a peaceful environment and I think it’s going to be trashed by a big company.”
The prospect of chemicals being pumped into ground below a key aquifer also alarmed Reed Paget, an anti-fracking campaigner from Elsted.
He said: “What happens is those chemicals get back up into the aquifer as it feeds Havant, Portsmouth and hundreds and thousands of people?”

[moneymunch] 25/7/2016 15:48

Fine and dandy Gismo, hope you are too....:-)

Ps not all habits are bad for you....gl :-)