Uk Oil & Gas Share Discussion Threads

[forwood] 21/3/2016 09:51

I keep telling you, this cannot be shorted in the conventional way. Only by spreadbets which have no impact on the share price or by selling real borrowed shares. So far as I am aware there are no CFD providers offering shares here, and no easy way to borrow shares.

[datait] 21/3/2016 09:48

The next news will confirm that there is far more oil than originally thought.

That news can come at anytime as tests are already being done.

[12bn] 21/3/2016 09:43

howie,more sellers than buyers,eos. Anyone else noticed the 500k regular sells around 2.35p? This can be a sign of shorters at play,it will be interesting to see if UKOG get more of them today.

[howie1943] 21/3/2016 09:40

Why is the price not moving upwards?

[12bn] 21/3/2016 09:31

Can the oil be commercially exploited though Rayrac,it is not cheap to drill wells and the oil price is very variable around this low. We do not know the costings and we do not know how much cash will be needed to be raised by UKOG.

[rayrac] 21/3/2016 09:27

Ohhhh, I think it's going to be fundermentals, ie, oil in abundance, over-ruling everything else on a one year view!

[markycrispy] 21/3/2016 09:25

I think this may drift a little lower and I will get an opportunity to add a few more - if it doesn't so be it.

From my experieince on these small oil and gas plays is that you can make some serious money but also you can lose a great deal too.

People that post with great regularity and are ramping are normally over exposed and at some stage in their trading career will get burnt significantly.

This is a share to put a small amount away you can afford to lose and sit tight which is exactly what I am doing

[12bn] 21/3/2016 09:17

niceyman1,for me it is the volume that is the key indicator to the share price direction in a 'hot share' like this. There will be a lot of T20s still open here and if there is no new money being pumped in by the traders then the share price drifts lower as the T20s close. This has nothing much to do with fundamentals and more to do with herd trading patterns imo.

[12bn] 21/3/2016 09:14

Quite right forwood but Datait is far too stupid to understand that.

[niceyman1] 21/3/2016 09:13

Low volume! Not many selling i.m.o.

[forwood] 21/3/2016 09:11

You have more than 'started' Datait.

The only reason this is falling is because people are selling.

You have a naive view of the way Retail Service Providers (MMs to you) operate. They are quite happy to sell you the shares that they are obliged to buy, for 2 or 3 pips higher than they bought. If they are overwhelmed with selling, they may temporarily withdraw from the market. At some point, if selling continues, they will sell the shares for less than they bought.

The same happens in reverse when people are buying. If they don't have the shares to sell, they may prevent people from buying or they may put up the price and sell shares they don't have at a much higher price, hoping to balance the books later. That is what happened last Thursday when it went up from a low of 2.30. The rally was effectively a short covering rally where the RSPs were the ones short!

They are not interested in 'taking out stops', because it generally means that they will be losing money on the the 'sells' that they have just bought! They much prefer an orderly market of a balanced number of buyers / sellers, from which they can make their turn.

[nevgroom] 21/3/2016 09:09

What you will need to consider at this time of year is that folk will be forced to sell for tax reasons.

[forwood] 21/3/2016 09:01

The rest of the RNS statement can be found on the UKOG website at:

It says:

"These results also cause us to rethink and recalibrate many prior geological assumptions. Nutech will now reinvestigate the presence of significant natural fracturing and oil in place figures for both the Portland and Kimmeridge units given that all flow periods produced 100% dry oil.
Most importantly, this well has proven that the new Kimmeridge oil play is a reality within our Licence interests. Whilst there is still much work to be done, this test has moved the project into a potential commercial reality. The Horse Hill licence owners remain committed to ensuring that any resultant future commercial operations will respect the rural beauty of the Weald basin and the way of life of local residents.

In a wider sense, whilst it is absolutely correct for us all to press for low cost, renewable sources of electrical energy, we must be mindful that oil fills a very different strategic role. Oil is not used for electrical power generation but fuels all transport and the manufacture of essential everyday products, such as plastics and pharmaceuticals. Oil provides the vital feedstock for components that are essential for all industrial sectors. We are delighted, therefore, that this discovery has the serious prospect of being a meaningful addition to the UK’s own supply of oil in a period where North Sea production is declining more rapidly than expected. "

It finishes with the usual statements re UKOG's 19.968% interest in PEDL137 and SS as qualified person.

[datait] 21/3/2016 08:55

12bn you have no reason to be here full stop.

[datait] 21/3/2016 08:53

Im not talking rubbish dont get me started

[forwood] 21/3/2016 08:52

Stop talking rubbish Datait

[rayrac] 21/3/2016 08:49

Neil Ritson, Solo's Chairman commented:

"This is truly a game changing well for exploration in the Weald Basin and provides considerable encouragement that a significant commercial accumulation has been found in the Portland sandstones and that a potentially massive Kimmeridge limestone play has been revealed. Solo looks forward to further results from the tests and future plans to produce the discovery and further explore the potential of the Kimmeridge play.


I hold an interest there too.

[datait] 21/3/2016 08:48

mm's might take out stop losses but beware it wont be down long and you will be lucky if you can buy on the way down.

[datait] 21/3/2016 08:46

If it falls back I shall be topping up not going to miss an op like that

[forwood] 21/3/2016 08:43

Anyone selling at 2.4 or less is a moron!

[datait] 21/3/2016 08:39

Top up on any weakness as this it could be your last chance.

[datait] 21/3/2016 08:38

Further news anytime soon.