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HUGE SP rise coming tomorrow imho.. UK needs Oil and Gas.. UK NEEDS UKOG... Now VERY STRONG BUY... imo
Remember this?
Same loony trying to push this at 0.11p last week.
Says it all.
Post history makes all his posts worthless and utterly insane.
"InvesterInvester
Posted in: UKOG
Posts: 1,437
Price: 0.11
Strong Buy
Bonnet705 Jul 2022 15:22
The World Has Gone Mad... and the wokers even madder... just filter them, all of them, is my recommendation.. as for UKOG.. UK NEEDS Oil and Gas.. UK NEEDS UKOG... On good news MASSIVE SP Re-Rate on the cards.. imo... STRONG BUY."
Poster recommending a strong buy, on an ever decreasing sp, over a number years, really should be looked into…
Don't know if a huge rise will come tomorrow but we all know UKOG has a history of spectacular rises on (sometimes protracted) occasions.
The share has been under-performing ever since the last, relatively small placing.
If the time of that raise came as a surprise, the fact of such a raise surprised nobody.
Personally, don't have an explication for the share's current poor form.
When was the last ukog spectacular rise?
Loxley "... in my view, is perhaps one of the UK onshore's most valuable undeveloped assets". (From SS's video presentation on Basur-Resan of 20/01/21, available on UKOG's home page, very near the bottom of the page, the quotation being at the beginning of the video).
Since then the price of natural gas has risen from 57.77p (on 19/01/21) to today's closes (September: 436p, ie x7.5; December: 582p, ie. x10.1).
It seems to me reasonable to suppose that a number of UKOG's peers could well be interested in Loxley's prospects. What remains to be done, therefore, is to agree the terms of any pre-planned farm-out programme.
Ocelot,
regardless of whether UKOG farm out to a 'peer', say it's UK onshore's most valuable undeveloped asset, or any other opinion it depends on it being successful - UKOG put a probability of success of 60 to 70%.
It isn't 'UK onshore's most valuable undeveloped asset' until drilled and proved - in fact it isn't an asset - given the cost of dilling it's a liability which appears to need to be farmed out.
In fact it seems that making claims on twitter or in interviews has become the norm in certain AIM oilers.
Conveniently they appear to have reinterpreted Alfold and determined that a larger gas column (26ft) than seen, and tested, at Godley Bridge (19ft)was missed by the operator of.........Godley Bridge (Conoco). Several companies have reviewed the acreage in applications and from a quick look at application and relinquishment reports all have accepted the well was dry with gas show.
As the Portland was cored and a pretty extensive logging suite was run in Alfold-1 it's surprising that no other company has 'discovered' this 26ft gas column.
Some map a small closure updip of Alfold with a shallower GWC than Godley Bridge - so some hope, but given the depth conversion issues will it be where the well is drilled or large enough to develop?
PS the gas price in December could be any number you like - UKOG has zero sales gas even if Loxley is successful and will almost certainly need further (successful) wells (and possibly seismic) to determine commerciality to proceed to a development.
Ocelot, please could you kcuf ffo with all the nonsense you spout, Ukog is a disgrace spanked so much investor money and nothing to show, it will be lucky if it's still trading by the end of the year kcuf all fantastic here.
I wonder how many read the Planning Application? It has been overtaken by the statement below which restricts the storage capacity and also the site has been downgraded to "a Lower-tier COMAH Establishment". It is just a planning application catching up with itself.
"As a result of the most recent review of legislation and a re-assessment of the sites storage inventory, the Applicant is able to reduce the need for crude oil storage to a maximum of 49 tonnes. This, in turn, reduces the classification of the site from its previous status as a Top-tier COMAH Establishment to a Lower-tier COMAH Establishment reducing the regulatory burden on the Environmental Agency, Health & Safety Executive and Surrey County Council as the appropriate authorities responsible for monitoring and managing site operations."
Ibug - I think you'll find that SSC has granted crude oil storage to a maximum of 112.46 Tonnes - now I wonder why they've more than doubled it ;-)
"The maximum quantity of named hazardous substances in combination is limited to 112.46 tonnes. In the event that new hazardous substances are intended to be stored, or the quantity of existing hazardous substances is intended to be increased which will exceed the maximum site consented capacity, new hazardous substance consent must be obtained."
GL SR
Ooops should read SCC
https://drillordrop.com/2022/08/16/horse-hill-crude-oil-storage-plan-approved/
SR
That was for a 2020 Planning Application.
This is what is in the latest Planning Application and has been known about since 1st April 2021.
58:BUNDED EXPORT OIL TANK (CAPACITY 52.46M )
59:BUNDED WATER TANK (CAPACITY 69.95M )
60:BUNDED STABILISATION TANK (CAPACITY 69.95M )
ocelot
How can it be fantastic when steps have already been made to downgrade the site and the latest Planning Application greatly reduces the storage capacity e.g. groundworks to comply with Lower-tier COMAH Establishment regulations.
In your dreams again?
Have you read the latest Planning Application or don't you bother because you think you can say what you want and get away with it?
Too many of us do our own research to know what is really going on.
Ibug,
You, too, have posted your post under the thread title "Fantastic News".
Hi everyone,
Would I be right in working out 112 tonnes of oil equates to 812 barrels of oil?
ATBLTH
Chris
Yes Ibug, but in your post at 0706hrs, you quoted the following ...."As a result of the most recent review of legislation and a re-assessment of the sites storage inventory, the Applicant is able to reduce the need for crude oil storage to a maximum of 49 tonnes. "
I did feel as though you were giving the impression that permission had been granted for 49 Tonnes, when actually it was 112.46 Tonnes.
If I've picked you up wrong then I apologise!
GL SR
From the offi cers report:-
'16. The HSC application was first submitted in February 2020 and at the time the operator
was proposing the storage of up to up to 285 tonnes of crude oil in on-site storage tanks
at the wellsite.
17. The application has since been revised in March 2022 and this application as amended
seeks consent for the storage of up to 112.46 tonnes of crude oil in on-site storage tanks
at the wellsite.'
Not sure what the 49 tonnes was but the oil tanker export remains at one every three days in the March 2022 revision by HHDL.
ocelot
No doubt you deny all knowledge of what a "thread" means. It is a means of following a conversation imo on this bb
We could have a heading which says "ocelot is God" but not everyone would believe it but they would still post on it.
ocelot
How can it be fantastic when steps have already been made to downgrade the site ...
-------------------
Ibug,
I never suggested it was "fantastic", I simply posted under the thread-title of "Fantastic News".
Why not take note of your own observation, that "It (a thread) is a means of following a conversation imo on this bb"?
SR
If you had read the 2 outstanding Planning Applications you would see I posted what some of the next stages for HH would be. It is always worth keeping up to date of with what is going to happen next imo. I would also expect another change to the EA permit at some time in the future.
They haven't even gotten round to starting HH-2Z intervention yet so no rush.
The 49 tonnes was a claim in an amendment in 2021.
However they seem to have forgotten they still required a 'stabilisation' tank which was also for oil storage being g 'stabilised'.
Seems the delay to this planning permission being granted was due to UKOG messing around - not the planners. This is an excerpt from the revision of 1st April 2021 (I kid you not):-
'As a result of the most recent review of legislation and a re-assessment of the sites storage inventory, the Applicant is able to reduce the need for crude oil storage to a maximum of 49 tonnes.'
Penguins
This was from the redacted 2021 letter.
SUMMARY TABLE - AMENDMENTS TO THE PLAN
I.D EQUIPMENT DETAIL AMENDMENT
1 53 Bund dimension now ‘34m x 12m’
2 58 ‘Bunded Export Oil Tank (Capacity 52.46m3
)’
3 59 ‘Bunded Water Tank (Capacity 69.95m3
)’
4 60 ‘Bunded Stabilisation Tank (Capacity 69.95m3)’ 5 73 ‘Propane store (12 x 47kg bottles)’ 6 74 Vent re-located outside of the secondary containment bund between Substance
Process Area and Substance storage Area
So UKOG listed they needed 112 tonnes of storage for oil but somehow thought that the bigger tank didn't count - or they never expected both tanks to be full - but that's not how it works.
With revisions after submission and schoolboy errors like this in planning applications no wonder it takes months / years for UKOG to get applications to the stage of being considered by the planners or committee - they did the same with the EA application for permission for water injection - and then blamed the 30 months delay on the EA
But 1 tanker every 3 days gives a maximum (as long as they're not waste tankers) of about 72bopd. Not sure if the tanker every three days is a strict limit or just guidance from UKOG.
Loxley "... in my view, is perhaps one of the UK onshore's most valuable undeveloped assets". (From SS's video presentation on Basur-Resan of 20/01/21, available on UKOG's home page, very near the bottom of the page, the quotation being at the beginning of the video).
As at yesterday's close, the September natural gas contract had multiplied by 7.5 times since 19/01/21 (57.77p) and the December contract by 10.1 times, so one of the UK onshore's most valuable undeveloped assets has become much more valuable in the last 19 months.
In discussions with potential farminees, UKOG will stress the very substantial potential value of Loxley and the farminees will stress the fact that commerciality has yet to be proven.
Oh to be a fly on the wall, those discussions should prove very interesting!