Uk Oil & Gas Share Discussion Threads

[bionicdog] 28/6/2019 15:14

Fully deserved I wouldn't wonder.

[cyan] 28/6/2019 15:13

These faux interviews are next to useless. Put him up against a briefed PAXMAN or HUMPHREY's and he would be shredded.

Well My Sanderson what's happened to all those billions of barrels you used to wax lyrical about in the past?

You promised shareholders would be retiring to the Bahamas ; What went wrong?

Not much to say about The Kimmeridge; is the dream over?

Why did you suspend the Kimmeridge test?

Is the well drying up?

What do you take from the failure at Broadford Bridge and Brockham?

==============================================================================

The questions that could have been asked.

The last lines from the interview were laughable. The "interviewer" was trying to be helpful;

Interviewer ;"And you have delivered on all your plans"

Sanderson: "Yeah, well, we try and deliver"

oh dear.

[maxk] 28/6/2019 15:12

ShareProphets have just done a number on the kog, I wonder why?

[datait2] 28/6/2019 15:11

now even deluded JSA/ESA/DLA, you pick? fool on the hill cant argue with that,

i suppose he will just play the Beatles music instead.

we all live in a yellow submarine, a yellow submarine, a yellow submarine.

and say that all is well in ukog la la land

[datait2] 28/6/2019 15:09

How’s Horse Hill going? The Horse Hill-1 Test well has achieved “landmark̶1; production of 54,000 barrels of oil so far, and is pumping at a stable rate of around 220 barrels per day. While it’s nice to know there’s actually some oil there, such volumes seem largely insignificant to me.

I just see ongoing cash burn, relentless shareholder dilution, and we’re still waiting for a Competent Person’s Report on proven and probable reserves. UKOG shares are down 6% on the day as I write, and I’m keeping well away.

says motley fool


www.fool.co.uk/investing/2019/06/28/could-the-ukog-share-price-fall-all-the-way-to-zero/

[datait2] 28/6/2019 14:38

watched the video, he comes across as a snake imo.

[henchard] 28/6/2019 14:10

BMNSA, that £9.2m operating/investing cash burn over the last 12 months is AFTER the revenues from all those tankers Fool on the Hill's spent watching over the past year.

[bmnsa] 28/6/2019 14:04

Forget drilling costs etc,what of all the millions carted away in those tankers from the gusher,surely this will set them up for everything.

[henchard] 28/6/2019 13:50

UKOG's cash flows over the last four six-month periods and tangible net asset values (TNAV) at the period ends:

....................................6 months to..6 months to..6 months to..6 months to
....................................30 Sep 2017..31 Mar 2018..30 Sep 2019..31 Mar 2019
CASH FLOW
Operating/investing cash flow (£m).....-6.3.........-6.8.........-4.2.........-5.0
Cash flow from financing (£m)..........+7.0.........+9.6.........+12.0........-0.1
BALANCE SHEET
Tangible net asset value (£m)..........23.2.........23.8.........30.5.........33.6
TNAV per share (pence).................0.65.........0.64.........0.55.........0.59

You'd expect operating/investing cash burn to rise in the current and following six months given all the drilling and other plans.

Notice how the TNAV in £m terms is rising, but share dilution is wrecking TNAV per share, currently 0.59p.

[hans christian andersen] 28/6/2019 13:46

The weasel has spoken

They have given him a Gilf!

[onetomany] 28/6/2019 13:44

Happy to hold because you're stuck in at 8p more like.

[markycrispy] 28/6/2019 13:29

This really is a slow burner anyone think they are gonna get rich quick should have joined the party when it ten bagged a couple of years ago - that's why I am happy to hold - made a few here a lot of cash

[onetomany] 28/6/2019 13:14

Did the RNS today give current cash balance or just year end. Haven't read it as HCA has been sharing it with us all day. I'm interested to know current cash burn. I believe it's increasing exponentially and another placing is a certainty if any delays. Also now that Kimmeridge is proven to be dry as a Nuns chuff I think placing may be 0.25p now.

[bionicdog] 28/6/2019 12:47

I wouldn't want to be in Stevie's red trousers when WTD's legal team are redirected towards him.

[hans christian andersen] 28/6/2019 12:35

12M

s/ Strange that you don't know what they are doing today. They even have video and photos to prove it.

"Spudding is the process of beginning to drill a well in the oil and gas industry. Initially, a larger drill bit is used to drill a surface hole, which is lined with casing and cement to protect groundwater."

[onetomany] 28/6/2019 12:30

So why hasn't drilling started. I recall it was promised and reiterated as on track several times. Strange

[hans christian andersen] 28/6/2019 12:20

Amazing how Share_Talk credit Video via @Adrianwfire and yet he doesn't put it on his own twitter account other than as a Retweeted tweet.

Paid quisling?