Uk Oil & Gas Share Discussion Threads

[datait] 14/9/2018 11:35

going in for a sizeable top up 1564,529

watch this space sb888 ya fanny

[amr2017] 14/9/2018 11:24

The dregs of society, look at the squalor they have created at HH!

[kemche] 14/9/2018 11:24

Expect ukog board to participate next.

[amr2017] 14/9/2018 11:18

3 Directors participated in the SOLO fund raising, I wonder what they know that could increase the share price there that gives them the confidence to take up 25% of the fund raising?

Perhaps the knowledge that UKOG shares might be significantly higher soon and therefore their shares will increase the value of SOLO.

Food for thought!

[ken chung] 14/9/2018 11:13

Tankers stopped? Kimmeridge stopped? Dry?

[hans christian andersen] 14/9/2018 10:51

At this stage of the proceedings tax will be written off imo. £442k tax credit last year. Only costs I can think of are transport.

[datait] 14/9/2018 10:48

Katsy they are not earning enough money to make a profit in order to pay tax.

[katsy] 14/9/2018 10:44

After tax and costs it probably a lot less than that.

[hans christian andersen] 14/9/2018 10:36

During the period of testing Brent has gone from below $72 to $80.
The $ has gone from £0.7622 to £0.7631

13 tankers @ 214 barrels a tanker = 2782 barrels

Our share assuming SPA's are approved would be £49024 for Portland Oil.

[whattheduce] 14/9/2018 10:34

I would prefer an out cake from the potteries!

[sb888] 14/9/2018 10:21

bellend

He is lying. He hasnt averaged down that much, i doubt if he has even bought anymore

His average is 8p, it would have taken a massive purchase to bring it down to that level, and we know he is a born liar

He said he was in Iceland paying for dinner in euros!! lol

[gizmogizmo] 14/9/2018 10:12

Morning giSmo...we have Low volume so far this morning HOPEFULLY the lull before the storm.

CYAN.. It was indeed a expensive lesson but sometimes we have to learn the hard way.
NOTHING is ever straight forward in the oil exploration business but a lesson learned is a lesson learned and life is full of mistakes along the way.
That's how we learn in our short time on this place called earth.
..................................................................
NOW WERE ARE THOSE TANKERS. 👍

[cyan] 14/9/2018 10:12

We have to objectively assess the evidence from the drills. Imo, The Kimmeridge is far more challenging than many appreciate.

If BB flowed like HH then clearly SANDERSON would have been proved right.

I note DL tried to spin the BB result by blaming the drill .
Imo, that's spin , because if you read UKOG's own RNS on BB drilling results they stated they achieved most of their technical targets yet, the oil flows were minimal.

They have also stated that any return to BB will only be after successful trials of new methods in a PEDL234 drill.

That looks to be some while off and appears unbudgeted for. That is why I think a fund raise, at some point, is inevitable

[bellesimo1] 14/9/2018 10:08

They only talk about food

[bellesimo1] 14/9/2018 10:07

Sb888..... wtd average share price is 4p he invested 70k that mean £35k down,but those rampers they are traders with spare cash on here so they ramping while selling . Goes up 10/20% I’m out again for 4th time

[kemche] 14/9/2018 10:02

MR Smythe is wrong. Professor SS is right. Simple as.

[cyan] 14/9/2018 09:58

"The upper kimmeridge flowed at around 900 bopd in 2016 and (IMO)this may well increase this time around."

We will just have to await, very patiently, for the EWT results.

What is clear and admitted by SANDERSON himself is that the Kimmeridge flow rates at HH were a great surprise to him; unexpected. I am not convinced SANDERSON has a complete understanding of the Kimmeridge and its potential for commercial flows.

Imo he got over confident on the back of the unexpectedly good HH Kimmeridge flows and made a leap in his theoretical assessment of the general productivity of The Kimmeridge. He came up with a commercially exploitable COD theory.

This led him to go 100% into BB where it appeared, to him, that it was a look-a-like to HH which he expected to "replicate" HH and quickly be brought into production. See UKOG's RNS's pre drilling for these expectations.

It was a shock to everyone when very little oil was brought to th surface. The conclusion I took was that SANDERSONS's understanding of the commercial flow capability of The Kimmeridge was clearly incomplete. It was a very expensive lesson.

There was a rival and much slagged off view of the Kimmeridge offered by Professor SMYTHE.
His theory is that the unexpected HH Kimmeridge flows were because UKOG drilled very close to a fracture zone. Smythe offered his opinion that the volumes contained in that zone are not large and that general similar productivity can not be expected all over the weald.
I personally awaited the BB result before forming an opinion that Smythe MIGHT just have a better understanding of The Kimmeridge than Sanderson.

The Kimmeridge EWT will, hopefully, settle the opposing arguments once and for all. If Smythe is right there will be significant depletion. If SANDERSON is right then the Kimmeridge is a commercial prospect.

[gismo] 14/9/2018 09:57

With bacon and maple syrup :-)). oooh awaiting the reply!

[whattheduce] 14/9/2018 09:53

Looking at the graphs in the header, that's a lot of flat pancakes.

PANCAKES!!!!

[hans christian andersen] 14/9/2018 09:51

cyan
Jumping the gun a bit. None of the SPA's have been approved yet although they should only be a formality.

It will be interesting to see what KL-4 pushes out as they only perforated a "88-foot aggregate perforated zone" and even less in KL-3 "80-foot zone within the Lower Kimmeridge ". KL-2 was never perforated.

To get over 1300 bopd combined stable natural flow rate from 168 feet was quite an achievement.

[25wbh] 14/9/2018 09:50

Know the feeling mikey,lol

[sb888] 14/9/2018 09:42

Funny thing is, if they did spiike to 4p, which they wont, wtd and hazelnut would still be 50% down lol