Share Name Share Symbol Market Type Share ISIN Share Description
UK Oil & Gas LSE:UKOG London Ordinary Share GB00B9MRZS43 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 2.075p 28,308,362 09:00:29
Bid Price Offer Price High Price Low Price Open Price
2.05p 2.10p 2.10p 2.05p 2.075p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 0.21 -2.27 -0.08 108.7

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Date Time Title Posts
19/9/201817:32UKOG strikes oil 2016104,537
19/9/201817:17I wonder why?318
18/9/201808:26UK OIL & GAS 2018 - "The Gatwick Gusher"6,105
16/9/201807:32Grotto 4 - The Birth of the Franchise660
07/9/201814:15ukog finds oil field to compare with Saudi's but mainstream media silent..why?16

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UK Oil & Gas Daily Update: UK Oil & Gas is listed in the Technology Hardware & Equipment sector of the London Stock Exchange with ticker UKOG. The last closing price for UK Oil & Gas was 2.08p.
UK Oil & Gas has a 4 week average price of 1.83p and a 12 week average price of 1.33p.
The 1 year high share price is 7.90p while the 1 year low share price is currently 0.93p.
There are currently 5,237,796,081 shares in issue and the average daily traded volume is 65,646,134 shares. The market capitalisation of UK Oil & Gas is £108,684,268.68.
datait: Oil is moving up nicely but UKOG need to find plenty of oil at the moment its light very light commercial if it was a lot better the price would reflect that but its not. So for now UKOG share price will fall back well over priced.
atino: Are you tempted by the UKOG share price? Here’s what I’d buy instead | Roland Head | Friday, 7th September, 2018 The UK Oil & Gas (LSE: UKOG) share price has fallen by almost 75% over the last year. But with the company in the final stages of flow testing its Horse Hill-1 Portland oil discovery, is this sell-off a buying opportunity for patient investors? Today I want to explain why I’m concerned about the outlook for UKOG shareholders. I’ll also consider another oil stock which I believe could beat the market over the next few years. These numbers worry me UKOG recently published the results of short-term flow tests from its Portland oil discovery. The HH-1 well flowed 401 barrels of oil per day (bopd) over a six-hour period and 414 bopd over a two-hour period. However, the company warned that these flow rates “are not the long-term sustainable flow rates that will be utilised to assess the Portland’s commercial viability”. Those long-term tests are still ongoing. But to be honest, I don’t understand why UKOG published the results of the short-term ones. In my view, they suggest that longer-term flow rates are likely to disappoint shareholders. Positive cash flow? The company hopes to generate positive cash flow in 2019. The key challenge it faces is to convert some of the group’s 13.2m barrels of discovered resources into commercial reserves. The drilling and testing operations required to attempt this are not expected to complete until the end of 2019. In my view this is a risky situation. I’m not encouraged by the evidence so far and would prefer to invest in a company with proven reserves and production.
atino: “UKOG plc fails at resistance level 😱 as investors await test results 💭💭💭| UK Investor Magazine 30/08/2018 A recent rally in the share price of UK Oil & Gas plc (LON:UKOG) has failed to break above 2.7p 🙇, a level the share price has failed to move above since February thus year 🤔 The company updated the market in the form of a competent persons report in June of this year which highlighted a contingent resource of 22 million barrels of oil net to UKOG. UKOG famously discovered a significant oil field near Gatwick airport which became known as the ‘Gatwick Gusher’. The company is in the process of testing the play for economic viability and potential production rates. In late 2017 UKOG was granted permission by Surrey County Council and the environment agency to conduct flow tests at Horsehill and construct sidetracks to HH-1. The UKOG share price rallied sharply earlier this year after David Lenigas tweeted about the potential oil quality and the state of the well. However since then, the share price has languished as investors await further news on whether hard results are to follow Lenigas’s tweet. If Lenigas’s claims can be confirmed it would mean the the prospect holds oil that is lighter than both US WTI Oil and Brent. Oil with an API gravity between 40 and 45 tends to fetch the highest prices. Brent Crude and West Texas Intermediate have an API gravity between 38-39.
atino: “Thinking of buying the UKOG share price? Read this first” | Rupert Hargreaves | Sunday, 2nd September, 2018 🙇 UK Oil & Gas (LSE: UKOG) believes that it’s sitting on what could be one of the most significant onshore oil finds in the United Kingdom. The company hit the headlines in 2016 when initial flow tests hinted at the size of the Horse Hill well, and investors flocked to UKOG due to its licence interests in the Weald basin region. However, if you are thinking of buying the shares because they look cheap, there are several issues you need to consider first. Black box The first issue is the company’s valuation. Placing a value on undeveloped oil assets is notoriously tricky. Even though these assets may eventually produce oil, in reality they’re only worth as much as other parties are willing to pay for them. UKOG’s Horse Hill-1 well was tested at 1,688 barrels per day (bbl/d), the highest initial production rate of any UK onshore discovery well, but other company assets have struggled to produce a similar positive result. Despite spending months (and a small fortune) trying to get oil from Broadford Bridge’s six Kimmeridge horizons, there’s been no sign of black gold in this region. With so much uncertainty hanging over the company and its prospects, it’s almost impossible to try and value the business and its current state, which means it’s difficult to tell if the current price is attractive. Money, money, money The second issue to consider is UKOG’s funding. The company is generating virtually no revenue and, therefore, almost no cash to fund development costs (although analysts are expecting the firm to generate revenues of £6.3m for 2018). The majority of development work and acquisitions have been funded by the issue of new shares. The latest deal involves the issuance of nearly 250m new shares to increase UKOG’s stake in Horse Hill Developments Ltd. Tapping investors to keep the lights on is nothing new — it’s an easy way to access cheap financing. However, this method of fundraising also has a dark side. Dilution Over the past five years, UKOG’s number of shares outstanding has increased from 83m to somewhere in the region of 4bn, according to my figures. By issuing shares, the company has been able to remain afloat, although it has diluted existing shareholders. Put simply, by issuing so many new shares, UKOG has been able to transfer tens of millions of pounds in wealth from shareholders’ pockets to itself. The dilution means each shareholder is likely to get back significantly less than they’ve invested, even if the company does strike black gold. Conclusion Considering all of the above, UKOG’s outlook is uncertain. The company may be sitting on one of the UK’s largest onshore oil and gas deposits but, so far, drilling results have failed to turn up any concrete evidence of this. Personally, I’d like to see some real progress before investing, but other investors might be more comfortable with taking on the uncertainty.
hans christian andersen: Posted for info only. I have no thoughts on the content; Is the UKOG share price primed to rocket? G A Chester | Wednesday, 29th August, 2018 | More on: UKOG Image source: Getty Images. AIM-listed UK Oil & Gas (LSE: UKOG) thrust itself into the limelight in 2016 when initial flow tests at Horse Hill led the well to be dubbed the ‘Gatwick Gusher’. This sent many investors flocking to UKOG, due to its interest in the Horse Hill licence and other licences in the Weald basin. An extended well test is now in progress at Horse Hill. Some dedicated shareholders seem to virtually live by the site and have been tweeting about tanker movements and pump-stroke rates at the wellhead. Is UKOG on the brink of declaring commerciality and is its share price primed to rocket? Portland Testing is currently focused on the Portland Sandstone level, which flowed 323 barrels of oil per day (bopd) for 8.5 hours in 2016. Higher rates have been recorded over shorter periods during the current testing, but investors are awaiting news of a lengthy stabilised flow test. This seems to be in progress, based on the observations of the Twitterati. A Portland well at nearby Brockham has been a marginal producer for many years. In its peak year (2005) it averaged 98 bopd. While Horse Hill may prove higher, UKOG’s interest in the licence is only 37%, so I view the value of the Horse Hill Portland in isolation as only a fraction of the company’s current market cap of £122m at a share price of 2.3p. Kimmeridge I’d say much of the current market cap reflects hope value for the Kimmeridge Limestone (KL) levels. In 2016, KL3 flowed 464 bopd (for 7.5 hours) and KL4 flowed 901 bopd (for four hours). A lengthy stabilised flow test of these levels will follow that of the Portland. Between the 2016 initial tests and the current extended tests, UKOG shifted attention to its 100%-owned Broadford Bridge well — described by the company as a geological lookalike to Horse Hill, where it hoped to replicate the Gatwick Gusher. Unfortunately, despite many months of trying, it was unable to get oil to flow from any of Broadford Bridge’s six Kimmeridge horizons, which is why the focus has shifted back to Horse Hill. As well as the disappointment at Broadford Bridge, there are a couple of other reality checks I note about the Kimmeridge. First, cutting through a much-touted 100bn+ barrels of oil in place across the Weald is a statement by UKOG boss Stephen Sanderson in a recent podcast with Vox Markets (20 July at 12 mins, 30 secs): “We think that we have 100 million barrel net reserve potential to UKOG over the coming years, if it all pans out” (my emphasis). Mr Sanderson has also spoken in the past about how flow from Kimmeridge-type deposits can generally decline 60%-70% over a year, meaning you have to drill a lot of wells almost back to back to maintain a certain level of production. I’d say this industrialised process could be problematic in the Weald basin, as well as requiring relatively high capital investment. Price and value I’m expecting the Portland to be declared commercial and because the company’s shareholder base is largely small retail investors, the share price could spike higher on sentiment and momentum trading. However, I believe UKOG’s current valuation is too rich on a fundamental basis as things currently stand. Like the institutional investors who are noticeable by their absence from the company’s list of major shareholders, I’m avoiding the stock for the time being.
henchard: Is the UKOG share price primed to rocket? hTTps://
whattheduce: Well, here is the full RNS, and no where does it say what you saying Hans, you are getting your RNSs mixed or you are playing a lie where you hope people take you literally and believe what you say to be accurate. You are in fact a bare faced liar, a cheat, a fraud and a charlatan. Are you running the shyster shift this evening or something? " Acquisition of Further Interest in Horse Hill Oil Discovery and Licences, Weald Basin, UK UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has entered into sale and purchase agreements with Gunsynd PLC ("Gunsynd") and Primorus Investments PLC ("Primorus") to acquire their combined 7% shareholding in Horse Hill Developments Ltd ("HHDL"), the operator and 65% interest holder in the Horse Hill-1 ("HH-1") Portland and Kimmeridge Limestone oil discovery and 55 square mile (143 km(2) ) PEDL137 and PEDL246 licences ("the Licences"). Upon completion, the Company will hold a majority 56.9% HHDL shareholding, equating to a 36.985% beneficial Licence interest, the largest single beneficial interest holding in both Licences. As previously reported in July and August, a comprehensive 150-day Extended Well Test programme, designed to confirm the HH-1 well's commerciality is in progress. Results to date from the Portland oil pool have been very positive, with short-term high rate tests achieving stable implied daily pumped rates of 401 and 414 barrels of oil per day of dry 36 API oil over two periods of 6 and 2 hours, respectively. Testing of the two Kimmeridge Limestone oil pools will commence following completion of the Portland test. Transaction Summary For a total consideration of GBP1,925,000, the Company will receive Gunsynd's 2% and Primorus' 5% shareholding in HHDL, equating to a further 4.55% beneficial interest in the Licences. The total consideration, with an effective date of 17 August 2018, comprises GBP425,000 payable in cash and GBP1,500,000 through the issue of 85,714,286 new ordinary shares in UKOG ("Consideration Shares"). The Consideration Shares are calculated based on the closing UKOG share price on 16 August 2018 of 1.75 pence. Completion of both acquisitions, which will be announced in due course, is conditional on HHDL consent. In the year ended December 2016, HHDL made a loss of GBP146,208. Stephen Sanderson, UKOG's Chief Executive, commented: "Although modest in overall size, these acquisitions, the first under the Company's new AIM operating company status, are highly strategic in that they deliver to UKOG, the driving force behind the HH-1 Portland and Kimmeridge oil discovery, a majority 56.9% shareholding in HHDL. Importantly, the resultant 36.985% beneficial Licence interest also makes UKOG the largest single party in the HH-1 discovery and Licences. In cooperation with the remaining co-venturers, the Company can now effectively steer the project directly towards planned permanent production and potentially significant cash flow in 2019. These acquisitions are also fully in line with UKOG's strategy of increasing its working interests in key assets to gain effective control and operatorship." Qualified Person's Statement Rob Wallace, UKOG's principal technical advisor, who has over 40 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Wallace is a Chartered Scientist, Chartered Geologist and Fellow of the Geological Society of London, an active member of the American Association of Petroleum Geologists, a member of the Petroleum Exploration Society of Great Britain and a member of the South African Geophysical Society "
henchard: Thanks for the replies re. Primorus's "we can leverage directly off any positive movements the UKOG share price". I see Primorus issue Quarterly Investor Updates, so we'll see if they do any leveraging off with their 57m UKOG shares in due course.
henchard: Does anybody know what the following in Primorus's RNS means in plain English? "by holding UKOG shares in lieu of the direct interest in HHDL we believe that should the EWT continue to perform as expected we can leverage directly off any positive movements the UKOG share price"
rayrac: Funky, I think this should put your little mind at rest... Once the disposal is completed, Primorus' will no longer hold a direct interest in HHDL but will retain exposure to the project via share ownership in UKOG and Solo Oil plc. Alastair Clayton, executive director of Primorus, commented "We are delighted to have undertaken today's conditional disposal. This transaction is a fantastic result for our shareholders as it vastly improves the liquidity of our investment portfolio whilst we retain upside exposure through ownership of a large number of shares in UKOG. We decided to accept UKOG's proposal in light of the excellent initial results for the Portland released to market on 18 July and the upcoming Kimmeridge long-term flow test. We have sought to recover our 2018 cash calls to the extended well test ("EWT") budget and exchange our exposure to the EWT from a direct interest in HHDL to GBP1,000,000 (57,142,857) shares in UKOG. We are expecting excellent results from the EWT flow test and by holding UKOG shares in lieu of the direct interest in HHDL we believe that should the EWT continue to perform as expected we can leverage directly off any positive movements the UKOG share price without having to contribute significant cash payments directly to the HHDL budget. Furthermore we gain exposure to UKOG's other projects including the advanced Broadford Bridge, also in the Weald Basin."
UK Oil & Gas share price data is direct from the London Stock Exchange
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