GRAMPSAV
22 Mar 2018
Re: An Optimistic View UKOG have not Licenced vast areas of the Weald for the views.Their next move after production from HH1 could be to drill midway between HH1 and BB1.They know the oils down there in great quantities. The lessons learnt from BB1 should lead them to a successful conclusion. JV should help the cause combined with a rights issue.Oil exploration is a slow process not a few wells 2 minute wonder.
Walking With Giants
22 Mar 2018
Re: An Optimistic View More like desperate to sell as high as possible. The took them at a certain price and will want to profit. If they believe the price will go higher, they would delay.
BarmyOwl
22 Mar 2018
Re: An Optimistic View My optimistic view is that 1.2p is the bottom, that's why YA have converted, they wouldn't do so if they didn't think they would make money.Trying to be positive in our hour of doom lol
Walking With Giants
22 Mar 2018
Loan conversions. Looks like the market has two lots of loan conversions March 22nd, to shift at above 1p before the next big drop.
danpoe
22 Mar 2018
Re: An Optimistic View I wonder if P2G..is still in the sinking ship(or maybe not). Not worth selling(heard that before) so locked in till the Sun becomes a Red Giant,and we are no more.
danpoe
22 Mar 2018
Re: An Optimistic View More from Delboy.... Appraisal well at BB foundToday 10:29Ah OK, I'd recommend reading up forthwith as its imo THE cornerstone of an investment in UKOG or UK shale oilers.Without knowledge of the following you are flying blind. Actually the anti fracking websites have very good info on this. why do you think they are so afraid? They know its coming.Its all legal, fracking is a totally legal activity. It may be prohibited in AONB and Nat Park/trust areas but ONLY shallower than 1200m. The deal maker, the open goal here is that the EU and UK set out the definition of Hydraulic Fracking a few years ago as The Infrastructure Act 2015 legislated onshore access for onshore and offshore extraction of shale/tight oil, shale gas[91] and deep geothermal energy.[92] Section 50 of the act defined the hydraulic fracturing of "shale strata", also known as "high-volume hydraulic fracturing" as "more than 1000m3 of fluid per stage, and; more than 10,000m3 in total" and attached conditions that mean no hydraulic fracturing can take place at a depth shallower than 1000m in unprotected areas.Basically its NOT even fracking below those volumes. Its the same technique, just called stimulation or frack stim, so does not have the same regulations/inspections not require the licence.Is the volume enough? Yes most US fracks would be below those volumes of fluid used! Think about that. Given the Kimm is 1/3 the depth, it should require even less than the US plays to fracture (less downward pressure).UKOG is free to carry out US level fracking without going through the same hoops as fracking. Thats why the swampys are so ****ed off.Anyway, once you get that , the whole play imo becomes much easier to envisage producing from multi well stimulated pads. Even BB!Oh as for councils, I think the components of the frack fluid have already been in the waste plan. The law says let the operator (KOGL) maximise the recovery, the planners have them to recommend this to the planning committees and whilst the committees may possibly vote against the PP as is their right, they wont have a leg to stand on as stimulation will be deemed necessaary to meet UKOG's legal requirement to max the recovery of oil. As we just found out after many months.It would go to the Planning Inspectorate if needed and overturned. 3-4 months? Once thats done , they cant' keep voting against similar apps.
ybhere
22 Mar 2018
An Optimistic View From Dellboy on the LSE, many hundred feet of oil saturated rock. Its LTO (light tight oil) NOT conventional. So it won't normally come out in any qty until its stimulated from a horizontal well or lateral drilled out from the main wellbore.Between Nutech , Schlumberger and UKOG I think they knew that given they have drilled tens of THOUSANDS of succesful such wells in the last 10 years.Totally normal practice to drill a few vertical /slanted appraisal wells to establish the cross section, bed location and depth and geology of a new play before attempting to produce horizontally. These appraisal wells , like BB1-Z (in other LTO plays) are not there to provide actual future calculations because:1) They usually don't flow due to impermeability in that direction. How do you think they got the term LTO?!2) Even if an appraisal did flow vertically say 500bopd it counts for nothing in terms of company valuation prediction (and sp) based on the NPV of each well. That is not in play until a horizontal well has been flowed (sustained flow) for the first month. Writing off or accurately predicting UKOG market cap from a vertical/slant well flow rate this time are both equally wrong.So, for me nothing has changed long term. The periphery of the far South West of the Weald Kimm play has been appraised and found to be LTO.It took too long and communication has not been good enough (eg: KL2 results?).At some point the bottom will be hit, given the over reaction due to I feel misunderstanding of the whole play and then a buy opportunity appears. Not for me to say when. No idea. But all of this geology is normal for a LTO play.If you don't get it look up Jagged Peak which IPO'd only last year and has a similar acreage to UKOG but in the Permian Basin. It took on cheaper, more challenging acreage in this red hot area and cracked the code. These guys are experts in LTO but are now lined up to have a huge future with plans to drill 30 wells this year. Maybe UKOG could do the same , lets see.YB
borgo22
22 Mar 2018
Re: Strange ( & madness) I take no satisfaction from seeing UKOG at this share price. I would expect the company to limp on for a while longer before eventually going out of business. Unlike Xcite for example, there never was any commercial oil with this bad boy. Sorry but take losses if need be and exit.
videodawn
21 Mar 2018
Re: Strange If no tankers left the site, and there are plenty of folk on the Watch Commitee, then no significant oil was produced. Limestone can be soft crumbly chalk, but it can also be hard marble, even black marble.Sounds like a technical success but a commercial failure to me.
sunny35
21 Mar 2018
Re: Strange If it didn't flow, what data still needs to be assessed??Which ever way you look at it you want to know - what's SS playing at? What has he been playing at all this time??? Why the total news blackout for so long?? and even now has left the final word of failure hanging in the air.I reckon there is some sort of sweetener in the flow test results, which SS wants to release after the drop has done its bounce, that doesn't mean it'll be a revelation of 3000 bopd, but some level of flow rate with indication of what went wrong, however SS didn't let on how long he thinks it will take him to fully asses the data from the flow test, so if past experience is anything to go by we could be looking at a week or two.Lets not forget this well was developed as a producing well before flow test, which if deemed a complete mistake, will be a colossal embarrassment to all who had any finger in that decision.Who knows maybe the sabotage theory is not all that farfetched, and all this delay and secrecy was/is due to an ongoing investigation.
videodawn
21 Mar 2018
Re: Strange Borgo called this a dud back in November . Strange but true. He had to get it right at least once.
hopetown
21 Mar 2018
Re: Strange Soon nobody........ Who will want him after this?In response to a phone call UKOG have said he's on holiday!!!!!! (Reported onLSE) ......No wonder ALBA have brought in two new consultants. GLAH
sunny35
21 Mar 2018
Re: Strange he's still acting strange, who's he working for??
admiralty12
21 Mar 2018
Re: Strange Statement:UK Oil & Gas Investments PLC has been informed by its 100%-owned subsidiary Kimmeridge Oil & Gas Limited that well testing operations have now ceased at Broadford Bridge in West Sussex. Equipment is being removed from the site and the Company will update the market once data and test results have been assessed.Not good news. It were flowing SS would have screamed it.P&A more than likely.
Desireoil3009
21 Mar 2018
Re: Strange It's over sunny35. And it's tanking now as I'm sure you can see. Not much left to tank to though. The results are crud - if they weren't there would be some vestige of encouragement in the RNS. Unfortunately there isn't. This one's a dud I'm afraid.
