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Anybody really know?
Turkey?
USA?
Geothermal?
Loxley?
4 new wells?
Water injection?
The guy has so many part baked ideas and NOTHING is actually being seen through at a time of a record commodities run.
Steve appears to be a clown who is unfortunately not in the circus but actually running an AIM listed company. Imo.
Could be what Troll hunter posted....
"Expected news flow coming up....
Loxley Gas permission granted.
HorseHill activity ramping up.
Turkey drilling new well site.
Major oil forced to reinvest profits in UK.......UKOG buyout!!!
Could be a very hot summer for UKOG shareholders :-)
GLA"
3 month chart looking healthy:)
Who knows....Turkey quick profit, still waiting..horeshill water re injection, still waiting, Loxley permission from sec state ,still waiting, seems to be a theme forming.. meanwhile ss is off dreaming up new ventures, really is like a child getting bored with his toys
they always get bored of the toy once it's broken
HH1AN2
Posts: 1,317
Price: 0.125
No Opinion
"RE: So what is this guy Sandersons actual plan?Thu 16:56
Who knows....Turkey quick profit, still waiting..horeshill water re injection, still waiting, Loxley permission from sec state ,still waiting, seems to be a theme forming.. meanwhile ss is off dreaming up new ventures, really is like a child getting bored with his toys"
Welcome HH1&2 to the ranks of those who have seen the light ..............
Lol
I would settle for a barrel of oil for every rns issued with a promise of jam tomorrow. If only SS and his colleagues would have a meaningful dialogue with shareholders. Where is the clear straight forward plan of action for the company? A dabble at this here, vague suggestion of something there isn’t a strategy. Pipe dreams!
I bet they don't answer any of my questions at the AGM whenever that will be.
UKOG already have a well at BB, and a sidetrack, which according to UKOG was successful in the sense of understanding the reservoir. BB had multiple tests over months of more KL layers than tested at HH, extensive coring of the Kimmeridge (remember 'oil' oozing from it) but the reason for not doing anything is waiting on more untimetabled drilling at HH on the other side of the Weald Basin where the Kimmeridge has already been tested extensively, and Loxley which awaits almost certain approval but is primarily a Portland test, but is unfunded.
Seems there's more to say about the untested (geothermal (or did they learn more about water than oil) for an unbuilt greenhouse - why no mention of a few solar panels on the site for more greenwashing?
This is second time UKOG have been given a 2 year extension to avoid doing anything, at least it saves on the cost of restoration.
"This is second time UKOG have been given a 2 year extension to avoid doing anything, at least it saves on the cost of restoration."
I'll bet the farmer is buying drinks in the pub tonight - O&G sites pay top dollar for rental.............
It should be noted that UKOG planned, but didn't bother, to drill through the Kimmeridge when they were drilling the pilot hole (HH-2) for HH-2z.
UKOG continue to dangle the Kimmeridge in front of investors whilst doing as little as possible and saying even less about what the data they already have has told them about the Kimmeridge - citing vague problems with completion or drilling fluids (though also denying there were), though never mentioning exactly what, nor saying there were any of those issues at Horse Hill - where the Kimmeridge remains shut in.
Ocelot,
UKOG is very good at having potentially valuable assets, even BB before it was drilled was going to prove the Kimmeridge was of national importance (IIRC) and producible across the Weald.
So much potential, so little actual success, already the potential transformational Turkey is floundering - why else seek projects elsewhere.
Distraction in adtion- don't look at what we're doing, lookover here.
The additional 2 years will put of the cost of returning the site back to its original status, and possibly drum up some support for geothermal, but mainly it will help ensure the CEO continues to get his salary, as long as he’s getting paid he is in no hurry to do anything really…In fact from his point of view the more red tape the better…The operator, UK Oil & Gas plc (UKOG), told the committee it did not want to carry out work at Broadford Bridge in the next two years.
In fact from his point of view the more red tape the better…
----------------
Hence Basur-Resan of course.
Ocelot,
In fact there was a lot more red tape than presumably SS expected- whilst RNSing in July 2020 that the well 'might' be drilled in 2020 the government approval to the farm in was given in January 2021.
23 July 2020: 'Drilling and seismic are therefore expected to commence before the end of this year'
Yet another use of that useful word expected. Drilling finally commenced July 2021 - and halted during the month as the bit got stuck and the well was deep to prognosis. The seismic was unfortunately shot after the well in late 2021 and there appears to be some discussion about the interpretation. Though not due to the government we still await whether they will attempt a difficult sidetrack or go to a new site.
BTW,
UKOG hasn't applied for planning for any more wells at BB has had planning for multiple wells at HH (and the application for those wells included a water injector). Applied in 2019 and then withdrew the EA application in early 2021 which included water injection. Hesitated over the Loxley application whilst knowing planning takes a long time, 2017 annual report and accounts 29/03/2018:- 'Two drilling sites have now been finalised'
Planning àpplication submitted April 2019.
Also this is the third, not second extension of the Broadford Bridge site retention - first was early 2018, then 2020 and now 2022.