Uk Oil & Gas Share Discussion Threads

[datait] 01/9/2016 08:16

mm's have news ready to be released watch this space folks.

[moneymunch] 01/9/2016 06:49

" We do not believe that the excellent production rates achieved by Horse Hill-1 are widely recognised. "

and so Ukog's share price is miles off fair market value with the prospect of so much recoverable oil from the multi-billion barrel assessment across the Weald Basin. Gl ;-)

[moneymunch] 01/9/2016 06:22

WH Ireland Broker Review following Ukog's HH interest acquisition in July.

Gla holders, another big blue day ahead imho.....2p plus next. ;-)

22 July 2016


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.

[datait] 31/8/2016 16:41

Watch this space news in the morning Murphyl away and play with your with yourself ya fanny.

[moneymunch] 31/8/2016 15:16

That would be nice Ray....2p first. Gl ;-)

[rayrac] 31/8/2016 14:51

Hmmm, 3p on the way.....to 5p.

[david.susies] 31/8/2016 13:00

5,000,000 bought 12.50 ?????

[flyingbull] 31/8/2016 12:05

August was a good month for the oil price. The challage is on for September!
Fancy a challenge? Which oil stocks do you think will gain or which will lose?

[murphyl] 31/8/2016 11:28

UX, I disagree with you there.DATAIT is constantly giving false and misleading information on the state of LEVEL 2.In his 0852 post,he stated,"all mms are now moving up folks" That was not true,only one MM moved up and that was CFEP at 0848.Nobody else moved at that time,so everybody be very ,very, carefull with this IDIOT.He will ramp and then deramp a share ,and it all depends on whether he wants to buy or sell at that particular time. He does the same on all boards he posts on .I have been watching his for a long time ,and he comes across as a very devious and dishonest individual.

[uxbridgearms] 31/8/2016 10:43

That's a bit harsh even for Datait, he may be a prize prat but he's not a conman.

[blueteam] 31/8/2016 09:32

news afoot, topped up yesterday. Will add on any dips.

[datait] 31/8/2016 09:32

mm's are taking turns to load up before the next move up.

[datait] 31/8/2016 08:52

All mm's moving up folks.

[moneymunch] 31/8/2016 08:47

Miles off fair market value with the prospect of so much recoverable oil.....Nutech OIP and gas assessment expected soon from Pedl234 Broadford Bridge. Gla :-)

[datait] 31/8/2016 08:44

News expected any day now folks looking good.

[stealive] 31/8/2016 08:43

New contract news?

[moneymunch] 31/8/2016 08:42

Plenty of upside on its way from now on in.....gla holders :-)

Ps maybe the Weald Oil Basin will get a mention at Chequers today by Theresa and her team. ;-)

[moneymunch] 31/8/2016 06:38

Oil Price Spike Inevitable As New Discoveries Hit Seventy-Year Low

- Aug 30, 2016, 3:28 PM CDT

The oil industry only discovered about 2.7 billion barrels of new supply in 2015, a tiny fraction of the annual average for the past fifty years. The dismal result was one of the worst performances from the oil industry in decades. 2016 could be even worse.

The 2015 figure is about one tenth of the annual average dating all the way back to 1960, according to Wood Mackenzie. Shockingly, 2015 saw the least amount of oil discovered in a calendar year since 1947. But with the massive spending cuts extending into 2016, this year the industry is on track to discover even lower volumes. As of the end of July, the global oil industry has only reported 736 million barrels of new oil discovered.

Of course, with oil prices trading at less than $50 per barrel, many of the oil fields around the world that have yet to be explored are not economically viable. New discoveries are “at rock bottom,” Nils-Henrik Bjurstroem, a senior project manager Rystad Energy AS, told Bloomberg. Rystad Energy published similar findings earlier this year, concluding that 2015 was the worst year for new oil discoveries in over sixty years. “There will definitely be a strong impact on oil and gas supply, and especially oil.”

In another damming statistic from Rystad Energy, the oil industry is very far from even replacing the oil that they are currently producing: in 2016, only about one barrel out of every 20 barrels consumed will be replaced with new discoveries.

The shortfall in upstream investment could be a presage of a supply crunch somewhere down the line. The oil industry has slashed about $1 trillion in investment for the period between 2015 and 2020, Wood Mackenzie said a few months ago.

The supply gap will only grow over time as demand continues to rise. The EIA expects oil demand to expand to 105 million barrels per day (mb/d) by 2026, up from just 94.8 mb/d this year. Obviously, forecasts that far out are inevitably off the mark, but the estimate at least gives the sense of the problem. If demand continues to increase by more than 1 mb/d annually, as it has for a long time, the oil markets could quickly swing from supply glut to a deficit. Bank of America Merrill Lynch already predicts a deficit next year of about 800,000 barrels per day.

[moneymunch] 30/8/2016 22:27

Local MP support...gl ;-)



Tuesday, 19 July, 2016

After a whirlwind of political fall-out from the EU referendum I am pleased to confirm my support for our new Prime Minister, Theresa May. It is important at times like these that we are led by someone with experience and integrity who can unify the country in a common cause and negotiate an optimum Brexit agreement between us, our European partners and our global allies.

I will use the change of government to reflect anew on some key domestic issues that have direct impact on local residents in my constituency.

I will be closely monitoring potential future oil exploration and extraction plans at the Horse Hill site to ensure that there is an optimum balance between economic development and protection of the environment for residents in the local area.

[moneymunch] 30/8/2016 16:07

ps looks like someone is accumulating at 1m chunks at a time.......all bodes well. gl ;-)