Re: Tonolio "My predictions have been correct to date" Simply not true. WWG has ZERO credibility here.
Tonolio My predictions have been correct to date. You move how ang where you choose but IMHO the company cannot move forward without a big cash injection. Rig hire, new drills, testing, pumps cost money - lots of money. Lots planned but today there is no charity. IMHO any investor will want a big chunk.
Re: ukog Hope so WWG, will be topping up big time. big opp to top up, BARGAIN!!!Nobody getting my shares on the cheap, tree shake all you want! all i wanna do is get me hoover out and hoover the lot up.I would say GLA but luck doesnt come into it.
Bull trap This will be going a lot lower with many locked in now at higher prices.Welcome to AIM always take profits!
Re: ukog I agree, hold tight the best is yet to comeall IMHO
Re: ukog wWG the record is stuck .... move on dude
Re: ukog Only two producers 10% licence and 5% licence so cash must be short supply. Looking at the list attached today in the RNS and future activity, any cash raising could result in another drop towards 4p.
Balcome Oil Well Interesting article in Drill or Drop that Cuadrilla seeks planning consent again to test Balcombe oil well, West Sussex. Might be relevant :-1) The purpose was to remove any drilling mud from the wellbore and clean the limestone source rock within six inches of the well.2) Having said before 2011 that without the ability to undertake hydraulic fracture operations the company would not be able to attempt to achieve commercial production, it has since repeatedly said fracking would not be necessary because the oolite limestone where it is exploring for oil is naturally fractured. __________ __________ __________ __________ __________ __________ __________ ____"The company preparing to frack for shale gas in Lancashire announced this morning it was applying for planning permission to test the flow of oil in its exploration well in West Sussex.Cuadrilla drilled the well at Balcombe in summer 2013, attracting three months of protest.The company ran out of time to do the flow testing and was granted a new permission in May 2014. This was unsuccessfully challenged by local people in a judicial review. The permission expired when Cuadrilla did not start work by May 2017.Cuadrilla said a new draft planning application had been sent to West Sussex County Council today. If the council had no concerns with it, the final version would be submitted next week, the company said. The application would then be published on the council and company websites.Cuadrilla Chief Executive, Francis Egan, said in a statement today:We were unable to undertake the permitted exploration well testing works within the allocated time, primarily due to the length of time and resource it has required for us to commence operational activities in our Lancashire exploration licence area.The new planning application will cover the same scope of work as the previous permission: a flow test of the existing exploration well followed by plugging the well with cement, and fully restoring the site.The company said it had contacted Balcombe Parish Council about the application. A community liaison group, a condition of the May 2014 planning application, had not been established because no work was carried out. But a spokesperson said:If granted planning permission for this new application we would, of course, establish a CLG ahead of any proposed works once we know they are going to start.Well testing and acidisingCuadrilla said it was seeking temporary permission for six months of work. If the application were approved, the company said it expected West Sussex County Council would require the work to be completed within three years.The company proposes to acidize the horizontal section of the wellbore at Balcombe before testing the flow rate of the oil. It said acidizing would involve circulating an estimated 15-20m3 of 10% solution of hydrochloric acid into the well. The solution would be pumped at pressures below those needed to fracture the rocks, Cuadrilla said.The purpose was to remove any drilling mud from the wellbore and clean the limestone source rock within six inches of the well, the company said.In March 2017, Cuadrilla applied to the Environment Agency to vary its permits for the site in woodland at Lower Stumble, Balcombe. A public consultation closed in April 2017 and the company awaits the decision. DrillOrDrop report In the permit application, Cuadrilla said gases produced during the flow testing, estimated to be up to 35,000m3, would be burned in a 45ft flare.DrillOrDrop will review the planning application when it becomes available. Well also update this post with reaction to the application news.No frackingCuadrilla told the government in 2011 (DrillOrDrop report) that to be successful in the Weald Basin it wouldneed to rely, to a significant degree on being able to undertake hydraulic fracture stimulation(s).In a letter to the then Department of Energy and Cl
Re: DL chatter my take on that.... Presumably this is the slip by DL - "Now, they've obviously had some drillling and some mud-issue problems and cement problems, but they're fixable - it's called time and money."Thanks again for a great summary and the benefit of your technical expertise and spotting small clues. "Fixable by time and money". It's beginning to look more and more like some kind of cash raise will happen. Perhaps SCDM might buy back in cheaper.
Re: DL chatter my take on that.... Thanks once more for your take on the situation
Re: DL chatter my take on that.... Thanks and your all welcome , we are all here for the same reason, and a little hopeful understanding is never a bad thing, it helps to keep the edge and keep out of the city shark pool as much as possible.they drilled HH, learned a lot and took that away with them.they went to BB and went above and beyond to get the maximum info from the well, one well does not make a field but get the ingredients right here and you can massively save costs and simplify development planning going forward.HH excelled, BB knocked ecellelled out the park, but it was never going to be easy. This isn't a nice easy sandstone type formation, it is an extensively fractured, crumbly and varied formation, you could bring the best drilling outfit and team in the world to BB but there are no guarantees at all, and extremely likely they too would have had to make comprised decisions on the way too.SS and his team really have done something special to get this far, this is concept drilling, every other hole drilled in the weald prior to HH, would have simply weighted their drilling mud high and ploughed through the Kim to get to their deeper pocketed targets, they were not interested in the Kim, nothing to see here sir, move on down!! Anything such as this concept approach is fraught with potential issues or risk of failure, but good Engineer's don't look at a problem and run away, they don't see it as a problem, they see it as a challenge that requires solutions, it tests the metal and your reputation rides on this honestly, yes there are problems, but to get even this far with the potential intact is something the team should be applauded for, not beaten with keyboard Warrior sticks. they guaranteed nothing, basically we believe this concept, if you belive in us and want to share this journey and rude it good or bad then feel free to jump on.Engineering solutions does not always mean total success, that is the goal, but Engineer's will look at everything, weigh up the risk elements and make a final call on BEST chance of success with least compromises.Can they fix it? Sure, it isn't an easy fix but I see his plan and that plan is probably going to give him a real chance of salvaging the situation.It may reduce the overall flow rates a little as the acid soak results are likely to be varied over the whole perforated sections of the Kim, but I fully expect a recovery,In law, they say most people convict themselves, purely because they talk too much, they make small mistakes in keeping the subject more general and slipping into the edge of Technical, so on that note, a big thanks to DL for that slip 😁
Re: French billionaires selling UKOG "Very negative for UKOG" in what way ? Quantify ."First bad BB result " in what way ? Quantify "then running out of cash " Quantify wwg is voting you up EasyBrent .... your zero credibitilty could not get any worse . wwg "At 3.04%.the remainder can be sold without an RNS. Once below 3% no RNS necessary to publish all sold" ERRRRRRR 3.04 is not below 3% .. BASIC MATHS ... WWG " IMHO this has now got 4p all over it ! " - thats my buy recommendation again ... time to buy another load ... WWG calling it wrong for 50+ years ...
Re: French billionaires selling UKOG Games and more games.Probably some more tricks still to come.SP surprisingly holding.
Re: French billionaires selling UKOG I thought there was some reason (a seller) for the drag on the share price. Are they scaling down to fund a Placing will be the obvious question.In any case though still interested in UKOG I have taken some money off the table the last few days and put some into Modern Water Group (MWG) which I think is cheap and ANGS which has some production news imminent.Own due diligence.