Uk Oil & Gas Share Discussion Threads

[niceyman1] 23/6/2017 08:08

Tick up coming?

[rayrac] 23/6/2017 07:18

Make of this what you will, but renewables are not making that much progress? The planet is still relying on gas and oil at a greater growth percentage rate than wind power etc!

Renewables such as wind and solar power were the fastest-growing energy sources in 2016, BP said, increasing output by 12%. Renewables now provide just under 4% of the world's energy, up from 2.8% of global energy consumption in 2015, according to BP.

In a statement, BP Chief Executive Bob Dudley said a transition in energy markets was under way, although "it is not yet clear how much of this break from the past is structural and will persist."

BP said oil consumption continued to rise at a strong pace in 2016, up 1.6% in 2016, which was above the 10-year average. The company sees a peak in oil demand around 2040, when consumption will begin to fall globally.

Mr. Dale said the company doesn't believe oil-industry investment has contracted enough to cause a global supply shortage in the near future. Some industry leaders, including the International Energy Agency and the Organization of the Petroleum Exporting Countries, have warned that a lack of investment in new projects will eventually lead to less production and potentially price increases.

[rayrac] 22/6/2017 22:19

Hear hear! Keep them on the hook. Monday, why not?

[moneymunch] 22/6/2017 21:51

Ps fingers crossed that we don't get any news tomorrow.....this should see a significant rise in share price as there will be lots of traders and punters alike who will have to buy in tomorrow , or run the risk of missing out on a potential stellar Rns 7am Monday morning....Tick Tock...as the drill slices through the oil saturated Kimmeridge limestones. On and Up!!! :-)

[rayrac] 22/6/2017 18:47

Yes, noticed that mm!

[moneymunch] 22/6/2017 17:55

Ps Ray....Brent back to $45 plus and rising...gl ;-)

[rayrac] 22/6/2017 17:17

It'll work out fine for everyone invested here should it find oil! But you funk will miss the boat and I won't mind that at all.

[funkmasterp12] 22/6/2017 17:11

Ed - at least you're classing it as a punt. And hopefully your entry timing will work out well for you. It hasn't however worked out so well for about 99% of other PIs.

[edgein] 22/6/2017 16:59

Funk,

And thank goodness for that! had it not been for the recent 2 year low hit I'd probably not entered. Since the sub-1p opportunity arose and given this is 100% wi and x3 the size of HH licence (yes about x9 times the potential of HH to UKOG) its a compelling punt. I normally don't go for high risk anymore as there's so much easy money out there on under-valued miners. But this one was too tempting to let it pass.

Regards,
Ed.

[funkmasterp12] 22/6/2017 16:50

"The issue is having the asset and then turning that into revenue and profit is something completely different."

Quite. There's no proof of any workable business model here yet. If they can monetize HH-1 and can prove BB-1 has recoverable reserves then in time this may be interesting - but for now it's little more than a punt which will go up and down as often as the wind blows (though as the chart shows, mostly down).

[niceyman1] 22/6/2017 16:29

Update after close or 7am tomorrow! i.m.o

[edgein] 22/6/2017 16:27

Vitec,

Very ture, market is currently not seeing the potential here or not prepared to take the risk at present. The licence is 300 sq kms, massive, and a potential extension of the KL play to date. At 100% wi this is a potentially company making licence if it goes the right way. Current cap is tiny if HH alone is successful, so BB-1 pretty much not priced in even if its up 45% from the recent placing price. Not for widows or orphans but upside is there for sure. Wet gas above the limestone is a very good start too.

Regards,
Ed.

[niceyman1] 22/6/2017 16:20

Days high close!

[vitec] 22/6/2017 16:13

It seems that there are a number of investors/punters that are in denial as to how big this could be. It might take a rocketing share price to finally get them to wake up to the potential here. Everyone wants instant gratification and expects the share price to continually drive upwards and work to their timing agenda. This clearly isn't how it works. No one surely can deny that UKOG have assets that have oil. The issue is having the asset and then turning that into revenue and profit is something completely different. I for one are happy to wait the 18 months or so to see if my faith is to be rewarded. I suspect am I right and I expect to be amply rewarded. Like some I also hold shares in other HH companies.

[moneymunch] 22/6/2017 15:50

ps They had no idea of the Kimmeridge's potential when HH was drilled, unlike BB's drilling operations now, where they're specifically targeting the Kimmeridge Intervals four limestones and naturally fractured and brittle shale clay in between. They've hit wet gas just above the first limestone, a very strong indication of good things to come....and so the next update will see some serious upside imho if oil is confirmed as expected. Gl ;-)

[rayrac] 22/6/2017 15:20

Too early nicey, give em a chance son! No one can tell at this stage.

What you are looking for, is a medal, for getting in a guess early and then saying...what a clever boy am I?

[moneymunch] 22/6/2017 15:18

Of course you're wrong....the discovery news at HH in 2014 was disappointing as it confirmed that there was no gas in the deeper Triassic....the majority of HH players sp's fell c50%....the same update confirmed an oil discovery in the Portland and stated that the Kimmeridge appeared to contain more oil than expected.....it wasn't until months later when the Portland and more importantly the Kimmeridge's potential was upgraded that saw a jump in sp's and then eventually the flowtest in Feb 2016 that confirmed flow rates from both intervals were above all expectations....the current movement in share price looks spot for BB imho....45% up from the recent placing 0.8p price because of drilling operations, gas encountered and now we await the next update....if oil is confirmed then another significant upward move as more punters will want in for full results...and with EA flowtest permit imminent, if another major oil discovery is confirmed and re-affirms expectations that the whole of the Kimmeridge is one major oil reservoir....the upside could be breathtaking with BB's and HH's flowtests to follow...gl On and Up.:-)

[niceyman1] 22/6/2017 14:47

Hope I,m wrong!

[niceyman1] 22/6/2017 14:46

Will it end in cheers or tears?
Think the moment oil gushes we would know by the buying volumes. My gut feeling at moment is by the price movements is that not living up to Horsehill. I.m.o

[rayrac] 22/6/2017 13:45

Quite heavy buying if the figures can be believed. Perhaps someone has a friend who knows a friend...in Aberdeen? It could be a bit leaky up there!

Anyway, I'm looking for something to take my mind off proceedings...so that's why I'm spouting rubbish.👉
27999;🗣€567;🤒㈇7;🏽🔜

[moneymunch] 22/6/2017 13:13

...and hopefully show that the surrounding shale clay is fractured too, as witnessed at HH and Brockham, which will greatly increase the net target oil play, especially at 50 degree angle extending 1km horizontally from well bore. Exciting times indeed.....gl :')

Ps not sure if they plan to get to TD and send all the cores away at the same time for detailed analysis, or at the time when each one is retrieved...either way we should have another update imminently.....significant upside if oily. Gl:-)

[edgein] 22/6/2017 13:04

I guess they'll perhaps do the FMI too after coring but before drilling ahead.

Regards,
Ed.