Uk Oil & Gas Share Discussion Threads

[hazelst] 04/7/2018 15:12

Stay away then, darth.

[bmcb5] 04/7/2018 15:11

Gismo - for an old woman, you're so childish

[hazelst] 04/7/2018 15:11

There's a lot of concern from non investors, why?

[datait] 04/7/2018 15:10

HOLD TIGHT FOLKS MARKET MAKERS AT THEIR GAMES TRYING TO SCARE YOU INTO SELLING.

[whattheduce] 04/7/2018 15:10

Musical chairs coming up

[darth_sidious] 04/7/2018 15:09

How does that answer no 2 though?

They weren't allowed to flow more than 2000 for the whole flow test or just PER DAY?

How/Why did they not apply to flow test for say 1 week minimum?Seems extremely suspicious to only apply for a 24-60 hours flow test????

Like they only wanted to show maximum pressure results and afraid pressure could drop of after a week

Wow what a company...........the risk here is MEGA

[whattheduce] 04/7/2018 15:09

It was a wild cat drill too.


More rumors of UKOG taking out, sorry, over and consolidating - the rumors are ANGS is the target! Surprised? I held ANGS for a while expecting stable flow rate numbers but things got delayed, and delayed so I dumped at a loss to take on massive in UKOG at 1p with a consequential paper gain overall a week later. AGNS now has second well back flowing oil. Described on twiter as 'low hanging fruit'. Is that why Lenningrass has gone into UKOG?

[bmcb5] 04/7/2018 15:08

That doesn't really answer the question Gismo. If they had a limit of 2000bopd, they could have continued to flow the 1688 they reported, day after day. So why did they stop after a few short hours?

[gismo] 04/7/2018 15:02

Darth I can answer no 2, they weren't allowed to flow more than 2000 a day, they were the conditions set out in the planning consent. They could not have continued as they would have been in excess of their planning rights.

[ccr1958] 04/7/2018 14:59

Is that it for fund raising for the time being do we think ?

[henchard] 04/7/2018 14:51

darth, 30-90 hours would have been relatively good compared with the actual HH flow test data UKOG reported:

Portland...323 bopd (for 8.5 hours)
KL3........464 bopd (for 7.5 hours)
KL4........901 bopd (for 4.0 hours)

[hans christian andersen] 04/7/2018 14:51

darth_sidious4 Jul '18 - 14:46 - 90625 of 90626

IMO UKOG thought 100% of BB was going to be the saviour of the company but it all went horribly wrong. 32% of HH is going to save the situation?

PS I think they had 6 weeks on site so what they achieved was pretty poor in the time they were there.

[darth_sidious] 04/7/2018 14:46

Someone answer these questions for me

1)Why has it been 2 years since the last flow test? to now do another flow test

Are you seriously telling me it takes 2 years to get planning consent to flow test a well? seems ridiculous long to me?

You would think UKOG no1 priority would be to get that oil out of the ground with the flow rates being spoutted

2) Why was the flow test for such a short period of time last time? I don't understand 30-90 hours is so short? you would think 1 week minimum to get a better idea

If you drill a well of course the pressure is going to be very high in the first 30-90 hours

----

I see huge huge risk here and horse hill turning out be nothing special

[costax1654x] 04/7/2018 14:35

HNR is a small mcap,producer,without debts,with a third party paying for drilling,and 2 wells producing....no dilution,and cash in bank....worth a look!!

[henchard] 04/7/2018 14:35

Under AIM rules:

26. Each AIM company must from admission maintain a website on which the following
information should be available, free of charge:
...
the number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders. This information should be updated at least every 6 months and the website should include the date on which this information was last updated
...

UKOG's page was last updated on 31 January 2018 and currently shows 3,649,287,689 shares in issue and the only significant shareholders as PI nominees e.g. Hargreaves Lansdown.

Of course, most companies keep their AIM Rule 26 webpages reasonably up to date, particularly if there are major changes in the number of shares in issue and/or significant shareholders. Still, at least UKOG can't delay updating past 31 July.

Will we see some institutional investors in the ranks or will it be the same old PI nominee brokers? Place your bets.

[datait] 04/7/2018 14:35

There will be many shorts open in hope that we had fallen below 2p only to find they have to close their shorts or risk being news in the morning on flow testing.

[datait] 04/7/2018 14:33

shorts will be closing soon only to find this move up quickly.

[paddyfool] 04/7/2018 14:32

But doesn't he say unequivocally that now is not the time?

[whattheduce] 04/7/2018 14:30

Assuming the waste tanker is emptying storage tanks, and the earlier tankers were taking away first oil flush and the toilet/office/laboratory is now plumbed in, may we see some sort of operational update and a drop of the liquid gold?

[h2owater] 04/7/2018 14:29

Why now could be the time to buy into the UKOG share price
Rupert Hargreaves | Wednesday, 4th July, 2018


Time for a turnaround?

UKOG has suffered some setbacks, but management isn’t giving up just yet. One of the most significant issues the company currently faces is its level of cash burn. Drilling for oil and gas isn’t cheap, and the business has been relying on the kindness of investors to keep the lights on while it tries to develop the Horse Hill prospect.

However, I believe that the latest flurry of deals over the past 30 days has put the business in an extremely advantageous position. UKOG has now raised £12.5m since the beginning of June, enough cash to see it into 2019. By this point, we should have more clarity on the firm’s production prospects.

And we could have more good news on this front relatively soon. Last week, UKOG said Horse Hill Development Ltd, the operator of the Horse Hill-1 oil discovery, has started planned flow testing operations of each of the Kimmeridge Limestone4 and KL3 oil pools. This “comprehensive long-term production testing campaign will provide the necessary data to fully assess Horse Hill’s Portland and Kimmeridge commerciality,” according to chairman Stephen Sanderson.

A lot is depending on the results of these tests. If oil flows as expected, I believe UKOG’s share price could really take off as investors buy back into the Horse Hill story. Even though there will still be plenty of work to do to make the prospect commercially viable if the flow testing is a success, proving that the oil in the ground is indeed recoverable should reignite interest from investors. I can see the scent of profits also leading to increased institutional demand.

So, will I be buying UKOG now that the company is on the cusp of a transformational change in fortunes? The answer is, not yet. While I would certainly not write off UKOG as an investment, I believe that at this point the risk/reward balance is off. I’d like to see more concrete evidence that Horse Hill is a viable oil asset before buying into the growth story.

With a comprehensive long-term production testing campaign already underway, it may only be a matter of time before management can provide this confirmation

[datait] 04/7/2018 14:29

The us will be all over this.

[bmcb5] 04/7/2018 14:28

From management POV it is very logical. The market is offering them money, so they'll take it. They don't need to worry about dilution, because they don't hold any shares.

From a shareholder POV, i'd be less impressed

[whattheduce] 04/7/2018 14:28

Clouds appearing in the sky ..... that's it, UK summer over. Will have to pull up skyscanner and see about so more sunshine Med way.