Uk Oil & Gas Share Discussion Threads

[beebong1] 31/7/2016 18:40

We are still waiting

"Licence PEDL 331
As previously announced on the 17 December 2015, the OGA offered the Licence to Solo (30% interest) and its partners, UKOG (65% interest) and Angus Energy (5% interest). The Licence will be designated Petroleum Exploration and Development Licence 331 ("PEDL 331"). UKOG and its partners are finalising necessary documentation with the OGA and the PEDL 331 Licence start date is planned for April 2016. The first exploration period of the Licence will last for 5 years."

Previously the onshore IOW was a number of blocks.

PEDL239 SZ/28 NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/38a NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/38c NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/47 NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/48b NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/48c NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/57 NWE Mirrabooka Licence surrendered 4th April 2014.
SZ/58c NWE Mirrabooka Licence surrendered 4th April 2014.

PEDL331 will be a number of blocks.

SZ38a, SZ48a, SZ58a SZ47& SZ57

That is why the license PEDL239 was not used. The license covers as many blocks assigned, hence 231 and 243 no longer exist.


Think you need to get your licences and blocks sorted out!!!!

[moneymunch] 31/7/2016 18:29

Through PILOT, the Government and oil and gas industry have been discussing ways to increase exploration activity. They decided potential future licensees could benefit from the dissemination of geotechnical understanding on acreage that has been worked and relinquished. PILOT decided the best way to achieve this would be through publication of relinquishment reports, which are prepared by relinquishing licensees and submitted to the OGA.

Blocks and discoveries are considered fallow after 3 years without significant activity. They are classed B and released if the current licensees are no longer able to progress towards activity due to either misalignment within the partnership, failure to meet economic criteria, other commercial barriers, or a combination of these.

Re-licensing of fallow B blocks

Many blocks offered for award in the 28th Round were previously fallow.
At least 19 blocks offered for award in the 27th Round were previously fallow blocks.
40 of the blocks offered for award in the 26th round were previously fallow blocks or subareas.
35 of the blocks awarded in the 25th round were previously fallow blocks or subareas.
52 previously fallow blocks were re-licensed in the 24th round.
68 blocks that had been considered fallow B at some time since 2002 were re-licensed in the 23rd round.
in the 22nd round, 10 previously fallow blocks were awarded.
in the 21st round, six previously fallow blocks were awarded.

[moneymunch] 31/7/2016 18:18

Lol utter rubbish......

"Relinquished licenses can be re-attributed in next licensing rounds, or even kept as relinquished if the government believes there is little interest on that area for the petroleum exploration."

[beebong1] 31/7/2016 18:12

You will never see those licences again. Not sure some understand how the system works. Ended means ended so no point talking about them.
Licencees are not re-attributed in the next licencing round even if their is interest in them. They are dead!

[moneymunch] 31/7/2016 18:07

When a petroleum license is granted, the company or joint venture is given a limited time for the exploration of the license. If after the limited time, the company has not discovered or performed its minimal obligations (usually agreed with the government as a minimum number of exploration wells and investment on seismic ) the license will be relinquished. Relinquished licenses can be re-attributed in next licensing rounds, or even kept as relinquished if the government believes there is little interest on that area for the petroleum exploration.



ps Lot's of interest imho, given the location of Pedl's 231 and 243 in relation to the sweet spot of the Kimmeridge. Watch this space. Gla holders ;-)

[moneymunch] 31/7/2016 16:14

WH Ireland
08:10
22 Jul
Follow

UK Oil & Gas*# (UKOG LN) – Buy – Acquisition of further interest in Horse Hill licence area

Market Cap £32m Price 1.4p Target 8.7p

UK Oil & Gas has this morning announced that it has acquired the entire 3.9% interest of Flowermay Limited in onshore Weald Basin licences PEDL137 and PEDL246. UKOG now holds a 31.2% total interest in the licences, which contain the Horse Hill-1 Portland and Kimmeridge Limestone oil discoveries. As a reminder, the aggregate stable dry oil test rate achieved by the discovery well amounted to 1,688 b/d. Regulatory permissions are being sought for a significant long-term production testing and appraisal programme.

For a total consideration of £1m, the company will receive a 3.9% beneficial interest in the licences via the purchase of Flowermay’s remaining 6% shareholding in Horse Hill Developments Ltd (“HHDL”). The total consideration is comprised of £150,000 cash and £850,000 in the form of UKOG shares, which will be newly issued (calculated on the basis of the 10 day volume weighted average price prior to completion). Completion is conditional on HHDL approval and a further announcement will be made on completion. UKOG now owns a 48% interest in HHDL, which in turn holds a 65% operated working interest in the relevant licences.

The acquisition is materially positive and value accretive for UKOG in our opinion. We do not believe that the excellent production rates achieved by Horse Hill-1 are widely recognised, making it opportune to acquire more interests in the licences at very attractive valuations. We also believe the timing is excellent prior to the anticipated resource appraisal for which regulatory approvals are being sought.

We maintain our Buy recommendation and will review our target price in due course.

[mikeygit] 31/7/2016 11:35

Thanks M Munch--Yep not worried at all. I am in DOR as well and it is my belief that will come good as well.

[moneymunch] 31/7/2016 08:55

Morning mikey, patience is always key, and the results from the planned 90 day flowtests will be a defining moment for all invested. The current low offers a great opportunity imho, the downside is negligible but there is plenty of near term news and events, not to mention fair value and market sentiment on the prospect of so much oil, that could see the share price rise significantly from here. Gl ;-)

[moneymunch] 30/7/2016 13:06

Pmsl, you really are a numptie, everyone is well aware of those that want Ukog to be successful and those that don't......and i'll continue adding at these current lows, as is the case by many judging by the buying volume every day for weeks, which have out-numbered the sells....they're going to let this go sooner or later, sudden and significant upside in a blink. Gla holders ;-)

[beebong1] 30/7/2016 12:27

Every time you top up the share price drops. Is that the sign of someone who is shorting a stock? Sounds like it to me otherwise why would you do it. After all, who would top up expecting it to fall other than someone who was shorting? Only someone who has been nominated as moron of the month perhaps!
Classic denial from you by accusing everyone else of shorting when IMO the only person that is doing it is you.

Which one was yours then?

29-Jul-16 08:34:25 1.3329 10,357 £138.05
or was it this one this PM
29-Jul-16 15:12:06 1.293 1,278 £16.52

[moneymunch] 30/7/2016 12:16

No you don't, your incessant negativity is aligned to the opinion of TW and the other scumbag cohorts who are determined to deter investors and are in denial of the transformational potential ahead..... and yes i did top up, and have continued accumulating to take advatage of this current bargain share price ...BIG BOUNCE COMING....Gla holders. ;-)))

[beebong1] 30/7/2016 11:04

I just highlight how PI's can make a paper loss if they follow your advice!
You must be down by about £10k on your £26k investment by now so why should anyone listen to you?
You obviously didn't top up yesterday as the share price closed up on the day!
Like DATAIT, it only ever seems to drop when topping up.

[beebong1] 30/7/2016 10:41

Just following your constant posting on the price of POO when it is going up. It does come down as well.
POO will play a major part in the commercialisation of HH IMO (probably the most important part and the go/no go decision maker) so always worth monitoring.
Why do you keep posting the same rubbish (IMO) day after day after day?
As always I see you did your due diligence on the "IG Markets Margin Increases".
Never let the truth get in the way of a good jackanory.

[beebong1] 30/7/2016 10:23

bengal1 30 Jul'16 - 09:58 - 160 of 160 0 0

Guys..I have spoken to IG this morning..there is a software glitch re Margins...I am told a couple of hours to correct whilst they summon the right staff somewhat dispersed for weekend.

[moneymunch] 30/7/2016 10:18

Lol you numptie, if you read both of those posts again that you've kindly highlighted, the reference to the rise in PoO is exactly what i've mentioned in my previous post ie

"Ukog will ultimately be valued on the amount of oil deemed recoverable commensurate to the price of oil against extraction cost and profit.....in the meantime we can look forward to extra profit and revenue that this year's 3x 90 day production flowtests will generate from the sale of the test oil"

and "and the rise in POO is the icing on the cake.".....prior to that, Brent was sub $40 and sub $30 a few months earlier. We've witnessed a recent retrace from $50 back to low $40's , currentlty $43.35, and so let's wait to see where it is 2017. The majority of analysts have been predicting a recovery back to $50 plus and $60 plus......in the meantime we can look forward to the flow of expected positive news from HH and maybe further acquisition. Gla holders...BIG bounce coming!!! :-)

[beebong1] 30/7/2016 10:04

moneymunch

You must have a rubber back to be able to bend that much. Only last month you said something completely different. I bet your U turns are perfect!

"the higher the PoO the better for Ukog"
"the rise in POO is the icing on the cake"

moneymunch - 08 Jun 2016 - 13:21:58 - 4013 of 5160
Lol funky, a rising oil price is excellent for all listed oil companies big and small. Ukog will ultimately be valued on the amount of oil deemed recoverable commensurate to the price of oil against extraction cost and profit.....in the meantime we can look forward to extra profit and revenue that this year's 3x 90 day production flowtests will generate from the sale of the test oil, which is c$15 more a barrel since the last test oil was sold....and with a potential reserves upgrade now, the higher the PoO the better for Ukog. Gla holders :-)

moneymunch - 26 May 2016 - 12:32:31 - 3748 of 5160
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. ...:-))))

[beebong1] 30/7/2016 09:57

Why? All they have done is increased the margins. Not uncommon in a volatile market IMO.

[moneymunch] 30/7/2016 09:44

Shorting spread better's could be in BIG trouble...with any luck. Gla holders ;-)

" IG have raised margins to 50% for 500k holding and a whopping 80% for upto 3 mil holding "