Uk Oil & Gas Share Discussion Threads

[bakunin] 19/5/2017 11:34

Looks like a big floor opportunity here today.
As I am new to all this oil reserve stuff, can somebody confirm for me that UKOG have officially declared 158m barrels per sq. mile over their 58 sq miles ie close to 10bn barrels of oil.
In the infamous interview, Sanderson says "I think we are looking at 50-100bn barrels of oil" for the whole of the Weald.
If one takes 50bn, rather than 100bn, is that really such a monstrous exaggeration?

[moneymunch] 19/5/2017 11:29

Lol has anyone managed to buy at .08p or even lower as the detractors were suggesting??? NO!!!....Fill YA boots....sub 1p will be a distant memory soon enough....Ukog is fully funded for the most exciting phase of their development....news on Broadford Bridge imminent and 1p plus and heading for 2p plus by the time the drill is turning. Gla holders Significant upside beckons and truly transformational on confirmation of free flowing high qualiry oil in commercial recoverable volumes....the figures coild be breathtaking....the best risk reward opportunity around from this rockbottom low. Onwards and Up!!! :-)))

[funkmasterp12] 19/5/2017 10:49

Forwood, a couple of points:

- "The overhang from lingering doubts about funding requirments is no more." No, but the overhang from the stock issue very much is. I look forward to seeing if there are any TR1's this time. Based on previous form, I won't hold my breath. That potentially means over 800m of shares need to be cleared before the price goes anywhere. That will take weeks, if not months.

- "Loans cost money and have to be repaid, mr market doesn't like indebtedness (you'd hold that against them fm), and not taking up the loan facility leaves headroom for any unforeseen need." Well, the loan would, I assume, be repaid by share issues (which would presumably then be flipped) so it's horses for courses at the end of the day. But, rather than pay Cenkos their commission, why not tap into a facility already signed and agreed?

And yes, Greater things..., I still find it surprising that Sanderson pays himself over £600k but apparently won't pony up for a placing in his own company. That doesn't exactly send a signal of confidence, does it?

[greater things are yet to come] 19/5/2017 10:22

moneymunch 18 May '17 - 19:01 - 7054 of 7088
Lol ..in the meanime i'm now fully loaded.. 1p

lol - Reality emerges, not 100% Blue at 1.85p


In recent weeks there have been many months worth of PI buy trade volumes at
1.2p to 1p per share moneymunch. Even you're sat on a < 20% loss presently.

£6.5 million of shares at 0.8p to investors who previously have always flipped
the same for a profit! < 6 months stagnation as funkmaster posts is possible,
as is 0.75p on a screen near you soon too, as warned about for many days.

Money lending is at 0% interest these days forwood ? Sometimes invested to get
rid of cash tax liability. Sadly Institutional investors in this stock have flipped
for quick profit within months in past.

Glad I didn't "fully load up" at 1p ! 1p bid for hundreds of millions of shares
to be ditched is now a severe ceiling and best hope for many holders.

As always the new corporate investors given shares at discounted 0.8p don't care.
And many of them may seek to bank up to 25% profit in the months ahead <1p too.


It's very good in current climate of no money that UKOG have got much needed
desperate funding. Sanderson though has to 100% guarantee that every single
step ahead goes perfect. Which NEVER happens in extremely costly and high
risk oil exploration to any chance of commercial production. £19 million mcap
is high. This could be traded up and down 2.5% to 5% all over the place today.
Sanderson giving himself a £500K pay rise to £607,000 and not having bought
millions of shares himself shows no care about the sp, or PI's either. Is he going
to award himself a 2017 pay rise up to £1,000 000 ? 0.95p bid will remain a
possible ceiling for a looong time with him having sold 25% of company for
0.8p a share for desperately needed cash.



Who was in charge of his "roadshow" selling this to new investors?! - moneymunch??? lol

- Most PI's are already fully loaded at 1p a share in recent days.. < 20% down.

[forwood] 19/5/2017 10:15

Reasonable question, easy answer. Loans cost money and have to be repaid, mr market doesn't like indebtedness (you'd hold that against them fm), and not taking up the loan facility leaves headroom for any unforeseen need.

This is unlikely to fall from here so looks a bit of a no brainer. None of the new shares can be traded for a few days and I can see 40-50% gain in relatively quick time. The overhang from lingering doubts about funding requirments is no more. The only issue is whether those taking up the placement want ot flip short term or wait for the longer game, which could well be 100x from here!

[funkmasterp12] 19/5/2017 09:55

So why then have UKOG raised the cash via a placing and not tapped into the loan facility they have on offer until the end of the year? That would have funded the £6.5m.

[rayrac] 19/5/2017 09:32

Happy as a bee...that's me!👉🏿;😍🚀&#128079;🏽
28588;🏽

[moneymunch] 19/5/2017 09:20

Onshore oil junior UK Oil & Gas Investments PLC (LON:UKOG) has raised £6.5mln with a new share placing, with cash proceeds backing the group’s growth plans.

UKOG is issuing 812.5mln new shares, priced at 0.8p each.

The capital will support the near-term growth strategy to further develop its leading position in the Kimmeridge Limestone oil play and five conventional discoveries in the Weald basin.

It starts with a planned well at the group’s wholly-owned Broadford Bridge project.

"This fundraising, the largest in the company's history, has illustrated great confidence in our strategy to deliver near-term commercial production from both the new Kimmeridge Limestone play and our interests in five conventional discoveries in the Weald Basin,” said Stephen Sanderson, UKOG executive chairman.

“The company can now proceed with confidence to implement the first elements of this strategy, commencing with the drilling and extended well testing of our 100% owned Broadford Bridge-1 Kimmeridge Limestone well.

“Broadford Bridge will start our planned 18-month operational journey that could be truly transformational for the company.

“There are exciting times ahead."

Share

[tilly99] 19/5/2017 08:29

Will be a 250m share day today with all flippers gone by day's end1p target

[moneymunch] 19/5/2017 08:28

ps anynone up for a blue close at end of day....Ho Ho Ho.....sub 1p will soon be a distant memory with BB underway and Holmwood to follow and HH's eagerly awaited extended flowtests......confirmation of free flowing oil in volume will be transformational for all players but especially UKOG with their 100% of BB, 32% of HH and 30% of Holwmood. Onwards and Upwards!!! ;-)

[moneymunch] 19/5/2017 08:24

Pi's can now make plenty of £'s from this rockbottom low....sub 1p will not last for long.....news on permit approval and the spudding of Broadford Bridge imminent.....buy 'em cheap while you can...FILL YA BOOTS!!! ;-)))

TARGETS FOR THE COMING YEAR

-- Demonstrate commercial production from one, possibly two, wells at Horse Hill by end 2018

-- Demonstrate that Horse Hill results can be replicated in three other locations across the Weald Basin (two wells in 2017: Broadford Bridge-1, Holmwood-1, one further in the first half of 2018)

-- Deliver production from each well as early as permitting allows
-- Further consolidate our holdings, where possible, and acquire further prospective acreage

-- Planning permissions are in place for the two 2017 wells, and we expect to receive the necessary consents for the planned Horse Hill production testing and drilling activities by the end of July this year.

-- We are firmly on track to meet our end 2018 first production oil target.

4th April 2017
As previously reported in October 2016 and February 2017, an application for long term production testing and further appraisal drilling was submitted to Surrey County Council in October 2016, and is now scheduled to be decided at the Council's planning committee meeting in July 2017. The Company therefore envisages that these operations will commence in the second half of 2017 upon grant of the necessary remaining regulatory permissions.

[moneymunch] 19/5/2017 08:13

Broadford Bridge Approval imminent...Gla holders...this ain't going to stay sub 1p for long. :-)

Stephen Sanderson, UKOG's Executive Chairman, commented: 5th August 2016 following Pedl234's ( Broadford Bridge ) acquisition.

"This is a transformational step for the Company and its position in the new Weald Kimmeridge Limestone oil resource play. The transaction more than doubles our net acreage position and potential recoverable resource base in the most prospective part of the play, all at a very reasonable entry price. The transaction makes UKOG the leading player and acreage holder in Kimmeridge oil and a significant player in the UK onshore oil industry.

The acquisition is an entirely logical step after the very positive flow test at HH-1. It fits perfectly into our overall 2-year strategy to de-risk and push the Kimmeridge play to the point of commercial development. The drill-ready and permitted BB-1 site, along with the permitted Holmwood-1 well immediately to the north-east, should, by the end of 2017, give us the opportunity to demonstrate the replicability of the HH-1 Kimmeridge results over a more significant area of the Weald Basin. In parallel, we will be pushing HH-1 towards first oil with planned long-term production tests, appraisal wells and 3D seismic.

The potential "cherry on the cake" from this acquisition is the opportunity to appraise the conventional Godley Bridge gas discovery 30+ years after its discovery and, most importantly, at the same time to test the underlying Kimmeridge limestones through a single dual-purpose well. We look forward to Nutech's Kimmeridge oil in the ground and the Godley Bridge net gas resource findings and their impact upon the Licence's value shortly.

2016 sees major progress in the Company's exciting journey to establish the Kimmeridge Limestone oil play and its economic potential for the south-east and the UK."

[frjdnverijtnhj8568934] 19/5/2017 08:10

It looks like the 0.8p shares are being flipped already at 0.855p. An immediate 7% profit. Easy money for the city boys.

[markycrispy] 19/5/2017 08:06

These could easily stagnate for some reason they don't seem to be the City's darling do they ? I have pointed out to them this week that they need to get their PR machine in hyper drive to advise the market what's going on more regularly and give people confidence.If they had the placing would have been much higher but we are where we are and if this all works out it will be a very lucrative investment at these prices.

[cpap man] 19/5/2017 08:06

Said no to the placing even at the low price as AIMHO & DYOR....a much better bet is ANGS

[wh0sthedaddy] 19/5/2017 08:04

get out... strong buy my a*se... emergency placing at whatever price they could drag out of a cohort of 'institutional investors' aka bucketshops. you realise they just raised 6.5m at a price they were at PRIOR TO EVEN DRILLING HH-1. they could have raised cash at this price 2 years ago. shocking.

[rayrac] 19/5/2017 08:01

Look on it as investment guys. Then it won't break your southeastern hearts?😜

[tilly99] 19/5/2017 08:01

Broadford Bridge will start our planned 18-month operational journey that could be truly transformational for the company. There are exciting times ahead."Fully funded 1p by end of dayHad big fall on worries wouldn't raiseRelief plus multi year lowStrong buy

[wh0sthedaddy] 19/5/2017 07:59

absolutely comical placing at a price they were at before they even drilled HH-1. wtf sort of management is that? what are they paid for? fk me these ex lenigas companies are run diabolically.

[letmepass] 19/5/2017 07:56

More dilution, when does it stop

[rayrac] 19/5/2017 07:49

They can't do anything with the funds... only the shares, the city that is!

Who cares if the shares 'flip' short term. They are going to drill right in your neck of the world,🤣€514;😝

[moneymunch] 19/5/2017 07:49

Ukog is now fully funded with the most exciting period ahead.......the share price ain't going to stay sub 1p for long.....buy 'em cheap while you can....Gla holders.....On and Up!!! ;-)))