Uk Oil & Gas Share Discussion Threads

[datait2] 13/6/2019 10:32

Bionic dog, UKOG just use the one tanker, and its probably the same driver 5 days a week.imo

hope he gets a good night sleep and is not up to the wee small hours watching porn like most UKOG investors do, imo.(gismo excluded as she watches groundforce repeats to get tips from alan titchmarsh)

( tho her son gizmo, gives it one off the wrist very often IMO)

and doesnt fall asleep at the wheel!!!

anyway once UKOG goes delisted once their oil well has depleted, these wells have 2 YEAR life span, they then deplete to uneconomical levels.

great news tho, cos gismo, wtd and hazelst will not be able to top up !! cos its delisted as a stock imo.

we will never hear from them again.

[gismo] 13/6/2019 10:29

Morning BMNSA

[bmnsa] 13/6/2019 10:28

Are ukogs tankers as large as those in the gulf of Oman to worry about.Are security up to the job.Can Mosad be hired to take out any Iranian insurgents with eyes on our wealth.Questions will be asked in the house.

[henchard] 13/6/2019 10:25

cyan

(1) I seem to remember you have a record of the total cash raised from various placings that UKOG stated was earmarked - purpose of placing/use of funds - for things other than the development of its existing assets.

(2) I think you also totted up how much cash had actually been used for those things (not much, just a bit, in expanding its asset base, which as you say has mainly been via dilutions).

(3) The total cash raised for the purposes in (1) minus the little bit of cash spent in (2) gives us an amount of cash on the balance sheet raised for non-operational investment.

(4) The total cash on the balance sheet in the upcoming results, minus the cash amount of (3) will tell us how much cash UKOG has for upcoming drilling, operating expenses etc. (Of course, if the cash on the balance sheet were to be less than the amount of (3), UKOG will either have lied about the purpose for raising the cash, or subsequently changed its mind about the purpose, without informing shareholders).

Do you have a record of what the amount of cash in (3) is?

[elcapital2018] 13/6/2019 09:58

it will be a red flag and they will blame Iran.....the powers that be (not trump) in the USA want a war with Iran.

[bionicdog] 13/6/2019 09:53

Thank goodness that the UKOG tankers are safe.

[cyan] 13/6/2019 09:20

Good morning Henchard;

An extract from what you wrote;

"Going to be really interesting to see how much revenue they've generated, how much cash they've burnt, and the period end cash position."

That will be fascinating . UKOG raised £5.5 million in cash for new assets;

UKOG raised £3.5 million and explained ; "the Placing's proceeds will be utilised in the assessment and acquisition of new opportunities, both in the UK onshore and elsewhere. "

Last year UKOG raised £2 million and stated its reasoning; "This placing is intended for opportunistic investment to help deliver the Company's stated goal of consolidating and expanding its asset base in the Weald Basin."

However; UKOG has since continued to 'expand its asset base' via dilutions.

What happened to all that cash? How much is left?

[hans christian andersen] 13/6/2019 07:39

And 27 days to planning meeting.

8 days to summer.

Looks like they will totally miss this prediction.

"23rd Jan 2019
The Company's primary 2019 operational goal will be to deliver continuous oil production from Horse Hill via continued extended well testing ("EWT") of Horse Hill-1 ("HH-1") and by the drilling and production testing of two horizontal wells, HH-1z and HH-2, both planned to start in spring 2019.

An application to drill, core and test an A-3 pilot hole and horizontal wellbore is planned to be submitted to the Isle of Wight Council in the first quarter of 2019. Shortly afterwards, the Company also intends to submit a further planning application to drill, core and test the geological look-alike Arreton South prospect with operations planned to follow after A-3 testing."

[elcapital2018] 13/6/2019 07:38

25wbh13 Jun '19 - 07:35 - 129353 of 129353
0 0 0
Good morning all,Gismo,Rayrac,wtd,and all usual losers

[25wbh] 13/6/2019 07:35

Good morning all,Gismo,Rayrac,wtd,and all usual friends

[henchard] 12/6/2019 22:23

Crikey! How time flies! Just realised UKOG is required to release its H1 results (for the 6 months ended 31 March) by the end of June ... no more than 18 days to go folks!

Going to be really interesting to see how much revenue they've generated, how much cash they've burnt, and the period end cash position.

Also, will be able to put last year's H2 numbers together with the latest H1 for cash flows covering the entire HH testing/"producing" period up to 31 March. Exciting times - for sceptics like me anyway!

[elcapital2018] 12/6/2019 16:07

all these jealous losers obsessed with me!