Uk Oil & Gas Share Discussion Threads

[funkmasterp12] 07/6/2017 11:33

Edgein,

"However risk is somewhat mitigated here as the share price will likely recover for the flow testing of HH-1 and further operations there"

I don't agree. Firstly, there's been no indication from the company as to how long the recent £6m raised will a) last and b) be used for HH-1 operations. I note today's RNS includes a line about the BB-1 drill being "within budget" - which I don't think I've seen from UKOG before.

Secondly, there's still a colossal overhang over the shares from the placing. As predicted we've had no TR1s which means no-one who took part in the placing has over 3% - based on the previous placings you can safely assume they'll dump fast into any rise. There's far more likelihood of the share price retreating back to 0.8p and below than any appreciation at this stage based on this.

Today's RNS, whilst factual, can simply be summarized as "Oil company drilling hole it said it would drill". There's nothing price moving in there, which is why it was slightly odd that it was marked up on open - and as you can see from the trade patterns/types, said mark-up was immediately sold into. You can presumably therefore expect this on any future BB-1 updates.

[hazelst] 07/6/2017 10:54

Thanks for your concern Greater, but it's my money and therefore my choice. Another filter applied.

[rayrac] 07/6/2017 08:33

The hard stuff is about to be hit.. the clays were easy peasy, but saying that, sand stones are not THAT bad.

My next career will be as a oil diviner! First stop? My back yard...ya never know?

[edgein] 07/6/2017 08:23

Marky,

Very true, high risk, high reward. Never any guarantees in this sector. However risk is somewhat mitigated here as the share price will likely recover for the flow testing of HH-1 and further operations there. So anyone that can afford to hold if BB-1 is unsuccessful should come out unscathed in the next few months. But yeah if you're on a limited budget its perhaps not for everyone on SB's or T-20s. But the flip side of the coin is that it could be an extension of the KL play at the southern side of the basin, suggesting that its regional. Very large licence, UKOG have many of these licences, the largest acreage holder and also drilling Holmwood-1 this year too. So on balance looks like a decent punt, if not on this well, certainly on HH and potentially Holmwood. So weighing it all up, given that I've a diversified porty, in which UKOG makes up about 2% I'm up for the risk and up for the punt as it could end up 4-6% of my porty if BB-1 comes in and the market realises its significance to UKOG (and to the country as a whole). :)

Regards,
Ed.

[moneymunch] 07/6/2017 08:22

Lol burnt and crispy.....and there lies the opportunity for transformational upside.....BB lies in the sweet spot of the oil saturated Kimmmeridge interval and Ukog owns 100% of it...HH flowed beyond all expectations, Brockham drill data confirms that it will as well.....and no reason why BB won't either.....the 50 degree angled drill slicing through the 4 limestones within the Kimmeridge for a distance of 1km horizontally....the numbers are going to breathtaking......Gla holders.....looks like a few are still waiting for 0.8p.....On and Up!!!;-)

[mikeygit] 07/6/2017 08:18

Teresa MAY get a majority, but not the great majority she wanted. Poor run up to election and too many distractions etc. Both sides --Tories and Labour have no BIG GUNS in their armory so most of the electioneering has come from both leaders. Tories dare not let Boris loose too much and Labour have no one else but Corbyn. British politics is in a poor state at present---no great policies from either main parties to get the economy going so no great injection of revenue into the Exchequer that would provide the badly needed funds to provide for Education, Policing or NHS. Many want Tories OUT---but what is the alternative at present!! Used to be undecided, but I am not so sure now!!!!

[markycrispy] 07/6/2017 08:14

There is no guarantee of oil flow so don't over here expose yourself - don't invest what you can't afford to lose

[edgein] 07/6/2017 07:58

Nice to see them making rapid progress, cores in just 10-12 days! Gonna be a quick one it seems, therefore low cost even at 100% wi.

Regards,
Ed.

[moneymunch] 07/6/2017 07:34

It's going to be a very exciting few weeks Ray, in run up to results, especially with a Theresa majority and confirmation of EA flowtest approval....2p plus coming. Gl ;-)

[moneymunch] 07/6/2017 07:25

Lol so says the master oiler, funky numptie the know it all, who said there was no oil at HH, and can't stand the fact that Ukog all looks set for transformational upside on confirmation of gushing high quality oil in commercial recoverable volumes. Gla holders Onwards and Up!!! ;-))))

[funkmasterp12] 07/6/2017 07:19

"Dilling" update?Professional as ever!

[moneymunch] 07/6/2017 07:14

Great progress....and 10 to 12 days to hit first limestone. Gla holders.......EA permit variation for flowtest imminent and fingers crossed for a Tory victory which will be well received by the market and add value here considering their plans to ease legislation for conventional shale applications. On and Up!!! ;-)

[rayrac] 06/6/2017 13:42

Watching the trades monitor, what was a purported sell @1.12 early on, is now a buy (2m) @1.0! I'm sick of advfn's trades! They are not meant to be understood.

[rayrac] 06/6/2017 10:33

Ott. Did anyone see the latest Labour political broadcast? Where a paediatrician, retired, started to weep because someone living on one of the northern islands, had to make a round trip of 400miles to visit their sick child in a major hospital.

What the heck do they expect? Move the hospital too the child?!

God, how sick sick can socialism get! Where is their limit to stupidity and wickedness?!

[moneymunch] 06/6/2017 10:21

Lol and the usual pathetic worthless commentary from the titman. Gla ;-)

[moneymunch] 06/6/2017 10:04

and so is mine Ray, I managed a modest top up earlier sub 1p....Buy 'em while they're cheap....a big bounce on Theresa and more on imminent EA permit and drilling update. Gl:-)

[rayrac] 06/6/2017 09:37

And my buy is in with the sells!! Don't be taken by a corrupt market where I think even advfn are guilty, with someone twiddling the buttons!

[rayrac] 06/6/2017 09:25

Hope you are right mm about the Torres (spellchecker at it again! )winning...there are many blind fools out there!😵299;

Btw, just been in for another 1m 😝

[moneymunch] 06/6/2017 08:28

EA Permit variation approval for BB's flowtesting..... expected "VERY shortly".....hopefully next week now with the election on Thursday.....and accompanied by a drilling update on the back of Tory victory will see the share price surging North. Gl :-)