Uk Oil & Gas Share Discussion Threads

[forwood] 01/3/2016 17:41

Couldn't find anything about warrants so have asked company to enlighten re who holds them, how many outstanding etc.

[beebong1] 01/3/2016 17:00

Cannot find any introduction of them in any RNS. They have just appeared on the 2015 Final Results. Accounted for 10% of those placed on that day.
I hardly think 10,666,666 shares being dumped into the system is going to make any difference but it would be nice to know who had them.
Consultancy fees?
Be sure someone is going to make money out of them.

[moneymunch] 01/3/2016 16:39

£240K for 10.6m shares could be worth £1m plus in a matter of weeks....and so plenty of reason why someone might look forward to that sort of windfall in time for the Summer.....gl ;-)

[datait] 01/3/2016 16:33

So what does that mean ?

[datait] 01/3/2016 16:29

Not over bought just market makers want as many as poss

[datait] 01/3/2016 16:29

They are not getting ma shares lol

[tidy 2] 01/3/2016 16:26

1v5. Saying it's over bought. Let's see

[datait] 01/3/2016 16:25

Dont get robbed folks you have to be in it to win it these market makers know this is huge and tomorrow this will be well over 5p

[datait] 01/3/2016 16:24

Market makers happy to take over 800,000 share no danger lol

[datait] 01/3/2016 16:18

Like they saying you have to be in it to win it.

[datait] 01/3/2016 16:17

Tankers have been seen coming and going all day and there are more by the day.

[datait] 01/3/2016 16:16

Market makers are not stupid they are trying to get as many shares as possible they are more in the know than any of us they know this is huge just watch tomorrows open.

[datait] 01/3/2016 16:15

This will be well over 5p tomorrow at the open on news.

[cashmachine2] 01/3/2016 16:14

Let's see the market reaction regarding additional flow analysis, the independent resource increase and news of Total's JV.Let's see if the share price is at 2.9p then. !!!

[datait] 01/3/2016 16:11

Stop worrying ya fanny market makers want to shaft you lol

[tidy 2] 01/3/2016 16:09

1v4. Bit of resistance.

[proj] 01/3/2016 16:06

2.75 to sell,,,,,,WTF.

[tidy 2] 01/3/2016 15:57

Going up !!

[moneymunch] 01/3/2016 15:56

More good news tomorrow imho....gla ;-)

[moneymunch] 01/3/2016 15:54

Steven Sanderson - or SS - now runs UKOG and, in a statement today, he said: “This result is therefore very significant for the company and the Weald Basin of the UK. The Kimmeridge play has moved from science project into the zone of commercial reality.

“The well's natural aggregate flow rate from the Kimmeridge limestones of 1360 bopd looks to be one of the highest natural flow rates recorded in a UK onshore wildcat well since the Wytch Farm discovery in the 1970s. It should be noted that the planned use of horizontal appraisal and development wells may further significantly enhance production flow rates seen to date.

“Following the final flow test in the overlying Portland, HHDL now plan to move full speed ahead to obtain the necessary permissions to return to the well, drill a horizontal sidetrack and conduct long term production tests."

[moneymunch] 01/3/2016 15:50

Four things David Lenigas wants you to know about Horse Hill

14:03 01 Mar 2016

He may no longer sit on the boards of the companies involved, but, via social media David Lenigas remains an outspoken supporter of all things Horse Hill.

New results show aggregate oil flows in excess of 1,300 bopd from the #gatwickgusher

Because there are so many listed stakeholders in the Horse Hill project, it might be easier for some people to simply follow David Lenigas on Twitter ;rather than dissect a multitude of RNSs.

He may no longer sit on the boards of the companies involved, but, David Lenigas’s finger prints are all over the Horse Hill oil project that has sparked excitement in the market caught the imaginations of investors.

Lenigas was formerly a director of, or has had close ties to, five of the seven listed companies that have stakes in the project (UKOG, Solo Oil, Stellar Resources, Evocutis, Doriemus).

And he seemingly played a pivotal role in bringing together the stable of companies that formed a syndicate in Spring 2014 to step in and fund the Horse Hill well.

Lenigas has since stepped down from his board positions, but, via social media and his own blog (hxxp://www.davidlenigas.com) he remains an outspoken supporter of all things Horse Hill.

Here, we take a look at five key points raised by Lenigas following today's latest update from the project.

 

1) He's very happy about it  

 

Perhaps unsurprisingly, the Australian dealmaker was not backwards in coming forwards about the latest news from Horse Hill.

 

 

 

FYI – Wytch Farm, on the south coast of England, is the UK’s best onshore oil field to date. It was operated by BP since the 1980’s, currently produces some 18,000 barrels oil equivalent per day and was sold to Perenco for $600mln in 2011.

 

2) He doesn't think UKOG is ‘doing a placing’

 

Whenever any small cap resource firm sees success, speculation can quickly turn to cash-burn and funding needs.

Generally speaking, equity funding is an unavoidable fact or life for pre-revenue junior oil firms. At some point or another someone has to stump up cash if smaller companies are to capitalise on their early successes – unfortunately for existing shareholder’s that often means equity dilution.

Nevertheless, Lenigas appears to suggest it won’t be a problem for UKOG.

 

 

 

3) More oil could flow

 

The impressive flow test results to date have come from two zones, in the deeper parts of the well.

These are the Lower Kimmeridge and Upper Kimmeridge limestones, and the initial tests yielded rates of over 450 bopd and now 900 bopd respectively.

So, the well has so far seen aggregate rates in excess of 1,360 bopd.

A further test is ongoing on the Upper Kimmeridge and, after that the current programmes final test will be carried out on the shallower Portland oil reservoir.


In the longer term, the appraisal and development planning is expected to see a horizontal well which in theory will open up the well to more of the Kimmeridge limestones and could therefore yield greater flow rates.

 

4) UKOG has more than one Horse in the race

 

The exploration concept that brought the Horse Hill project to pass is based on assumptions that the Kimmeridge zones seen in the well span large areas of the UK’s Weald basin.

UKOG and other companies have other licences in the region.

Notably, UKOG recently did a deal with Egdon and Europa to partner in the nearby Holmwood project. That deal, in late 2015, saw UKOG agree to pay for 40% of the cost of drilling a new well.

Given the new findings at Horse Hill it will be fascinating to see what the drill schedule may have in store at the neighbouring project.

Also significant is the recently acquired acreage on the Isle of Wight. UKOG secured some 200 square kilometres via last year’s onshore licensing round.

Located in the Weald and a jet-ski ride from Wytch Farm the company sees great potential on the island. UKOG, in January 2016, highlighted the already identified the Arreton prospect and said it could contain over 200mln barrels of oil. 

[6ste] 01/3/2016 15:46

Going to smash 3p soon.

[proj] 01/3/2016 15:45

2.8?? Why the sell-off, the news is great.

[tidy 2] 01/3/2016 15:45

They have £4m cash more now ;)