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sincero 17:54

Re: Getting Very Worried Hi Bistable, You seem to be a little pessimistic and perhaps a little disillusioned with ukog perhaps that explains the part sell of your shares .I am optimistic and excited buy the potential hemce the reason i added ...each to their own I think. I respect your choices. Again we can only think what we think and do what we think is best. Good luck....

Push2Gush 17:42

Bistable Bistable,Respectfully, What I post clearly does not suit how some folk think or want to believe, not much I can do about that. There are some folk who ask for an opinion/interpretation and I sometimes give/share that. When I post something that goes against or at least fails to promote the dream then it starts the slanging matches or attempts to dissect & discredit, Personally I don't care too much, I don't rely on forums for investment decisions, so you ask why even log on ? simply because sometimes others can pick up on something I might have missed or even not considered and that encourages me to look at it again. It was clear to me from the very beginning of the BB drill that this was by no means to be considered a step out well, 27km from HH is a massive geological leap regardless of pre drill expectations. It has to be treated as an exploration (exploratory) drill, and with that comes a massive chunk of learning curve.No one with half a brain could say SS has not given it 110% in effort and application to learn the most from this drill, and with those findings comes more questions that need adjustment to the program, engineering solutions and some luck.Some of my views change too, simply because what becomes known has some deviation to what was planned Vs findings etc. Many drills on prospective leads are stating big numbers but COS clearly shows it is significant odds against every parameter and actual finding during the drill meeting the criteria for a producible & commercial well/reservoir, water wet, immobile or non commercial etc. OK the COS at BB is much better than true exploration because the concept belief said it should map across the greater Weald and in fairness they never touched anything below the KL-3 during HH testing. The only thing I have against SS is that he allowed his initial drill findings to enter the public domain without much restraint, which I would consider far less a risk if they had performed at least a couple of short Drill string tests to demonstrate to themselves there is indeed TRUE mobile oil at this location, it can flow naturally as at HH etc,, Now we will move to full extended testing to prove the commercial aspect and indicate reservoir capability and estimated recoverables. The testing has clearly been a challenge he had not fully anticipated, it is rare that a Co would still be chewing at this after so many weeks, so he isn't surrendering, he clearly has the details available to him that says it should and it will, at least from the uppers. Personally I see the significant number of waste water tankers as positive, none of that is insider knowledge, anyone can go past the site and spot something that enters or leaves location from the public domain. That volume of water would not be achievable unless it has a reasonable replenishment from formation, it cant enter or return from formation without reasonable permeability and something following behind it. So I hope it will lead to notable reducing water cut at surface and increasing hydrocarbon production. Time will tell, I don't recommend a buy/ sell or hold. JUST an honest realtime interpretation and it may not be totally correct.. (interpretation/opinion)P2G

Bistable 16:47

Re: Getting Very Worried many thanks sinceroyou say<the investors would have done due diligence and will know alot more than we do as they would have had direct conversations with the bod. >I am sure they would have but SS is a good and credible salesman--he needed £10M-what do you expect?<They have also already converted some of the loan into shares at 90% of share price and will be already showing a decent return.>yes, that is indeed a positive but to be expected otherwise why make a £10M loan-they were told a story by SS and believed him as we all have but the reality has been shown to be different-not the fault of SS entirely although he is a geologist with a ~50% O&G exploration track record. Go see 88E who also have top rated management strongly focused on shareholders, I have met them at seminars and they are great but despite all the previous successful experiences in other wells and tghe positive appraisal logs they cannot get the oil out and awaiting now for the end of winter and hence the sp has crashed.big timeJust cannot believe that after a month of flow testing [cause thats what SS told us} there has been no notification of oil and we know from BB1 that SS does not necessarily relay bad news if he thinks there is a solution--well clearly so far and as far as we know he hasn't found one which therefore makes this a very high risk play--at least for me and many others such as P2G it would seem

Push2Gush 16:39

Re: P2G Bistable,I do not get why folk cherry pick certain pieces of a post to skew the overall context.The point i was raising was in a reply to a post relating to analysis. In reality what SS was giving as uber positive from initial findings below the KL-3 turned into nothing of worth.So if it was looking so good visually from the cores, samples, logs, drilling etc, then what ultimately went wrong ? why did nothing come from bottom regardless of some saying it was just a bonus track... If you are uber positive about that with no result then how does that bode for the rest based on what was said ?As for holdings, yes I have a chunk, but i find it really pointless to state anything about position (even though I did too) Simply are you going to tell me a few words is sufficient for all to believe and why would they be interested in my holdings anyway ?I could say I now have 3 million shares at 3.8 and just leave it at that, or that i am actually short from here.. Simply if you want people to get off your back then just tell everyone you topped up, AGAIN at these BARGAIN prices etc etc.... when actually I could be dumping the lot. it is meaningless, lord knows my posts get torn apart by some right teerolls over on LSE because they choose to cherry pick what suits them too.I couldn't give a hoot really and I ALWAYS clearly state it is just an industry best guess or IMO... but that is never enough for most...

sincero 16:23

Re: Getting Very Worried hi Bistable,i didn't think it is "rhetoric to underpin the loan" the investors would have done due diligence and will know alot more than we do as they would have had direct conversations with the bod. They have also already converted some of the loan into shares at 90% of share price and will be already showing a decent return. If they haven't sold this would suggest they too are in for the longer end game of commercial production as stated by SS. I didn't see any massive sells since they converted but I am sure some doomeister will suggest they have been selling in smaller amounts...... whatever !I respect your position and your right to sell a % of your shares, always to do what you feel is best . Me? as previously posted I added more shares when price was lower 3's . I'm in until an RNS tells me that commercial production is not viable ....S

Bistable 15:09

Re: P2G P2G says<Bottom line for me is they more or less confirmed a mirror of HH geologically, and confirmed the API is a match. Analysis will rubber stamp that along with a more detailed understanding of the properties within it and that can significantly help in development and production technique. >and yet you were out and perhaps still are as you recently said or implied you were reviewing your situation--so are you in or out currently- I have sold 70% of mine today

Push2Gush 15:05

Re: Getting Very Worried It was an old pic that WWG threw up, with the rig on location in Sept. I suspect WWG was hinting that the truck was connected to the well and taking oil straight to tanker lol.But that is not the case for sure. almost certainly related to the mud/returns tanks

Bistable 15:05

Re: Getting Very Worried many thanks sinceroHowever the majority of your quote from the RNS is just management rhetoric to underpin the loan for which SS is employed to doBut you did remind me of his key statement that:<we remain highly encouraged by the natural flow of further hydrocarbons to surface.">you would think there was something behind y=that as he didn't have to say itThere is another positive LSE BB contribution today from Marky5858 at 14.34 you may like which states:What we are dealing with is a production ready well a flagship based on new exploration techniques the first in a long line of projects to prove ukog as a major oil supplier for the Uk. I’ll only say this once ! If this well was a some are commenting a “duster” why install a production rod pump ? Designed to pump light oil ? Why not leave the old rod pump on ? you know the one that removes debris and sand ? Which was designed to pump heavy crude and all of the above ? Why have more acid delivered yesterday and have what imo are seperator tanks emptied from site ? Short tests consist of exactly that with on site storage of 1500bbls we would have no call for a tanker to date. BUT we will have when SS completes on KL3/4 which is imminent. The facts are there to see ! Movement on site new rod pumps acid and waste. The derampers today are looking to make up losses on the rises of the last few days. Let them make two clicks we as holders have days imo until we see oil tankers leave site. This is prepped for production and was expected to take longer. So yes there are positives but its all conjecture at present which is not good for the emotions and the brain

Push2Gush 14:59

Re: P2G Hi Younginvestor,Its a borderline subject relative to the UKOG story.I think they would not want too much of the analysis information out there just yet, since a good result on BB would need to be properly cross matched to enable clear consideration that this is indeed a true step out well for the Upper KL-3 & 4. Bottom line for me is they more or less confirmed a mirror of HH geologically, and confirmed the API is a match. Analysis will rubber stamp that along with a more detailed understanding of the properties within it and that can significantly help in development and production technique. I honestly doubt you will see much more in any RNS other than noted confirmation the properties are matched etc etc.... It does beg questions as to what the Logs & cores showed in the majority lower Kim areas since the impression from the drilling RNS's was that this was blisteringly juicy and fractured to heell and back, along with then perforating the living daylights out of most of it. So yes it does raise questions but i doubt there will be many answers.I am sure 95% of the next RNS will be talk about the uppers only with maybe some small paragraph stating nowt here, move on !! for the lowers. Not long to wait now for sure... all will be revealed hopefully.P2G

sincero 14:55

Re: Getting Very Worried For what it is worth i am not worried. Also from RNS 15 nov :Stephen Sanderson, UKOG's Executive Chairman, commented:"This £10 MM funding, the largest in the Company's short history, ensures that our stated drilling and testing programme, spanning four wells over the next 12 months, is fully funded.The programme has key regulatory permits in place, is designed to further appraise the wider Kimmeridge continuous oil deposit plus the Horse Hill Portland oil discovery. Its overall aim is to provide stable commercial production and cash flow by early 2019. A positive programme outcome will give the company a solid base for further drilling and development of the significant untapped Kimmeridge resource-base underlying its extensive licence interests.The flow testing at BB-1z continues to be a key element of the Company's wider programme and we remain highly encouraged by the natural flow of further hydrocarbons to surface."posts by p2g, trump45 , uncle tom cobley and all are just opinions, guesswork , speculation ....i will wait for an RNS thanks ...

37Bodie 14:52

Re: Getting Very Worried Was the photo to which P2G was referring not from September?

Bistable 14:48

Correction ApologiesTrump45 is on LSE BB not ii BBsome more positivesand of course typos---------- ---------- ---------- -on the 15th Nov the RNS said:<optimised sequential flow testing has commenced>It didn't say clean up operations had commenced but flow testing.They had already tested K! and found it uncommercial without additional stimulation and since then we have heard nothing but nothingWe now find P2G with whom I have great respect now saying:in the last few days:<The tanker hose is up over the mud or returns tank. it is very likely simply taking returns muds/fluids away, maybe after the well was displaced.You may get some hydrocarbons in the returns but it would and should be very minor if the mud weight was maintained correctly, meaning much of anything in the returns would only be from the cuttings area of the wellbore being drilled etc & not from the adjacent formation>.:so in a month all we have achieved is clean up operations-is that reasonable.? that is clearly not flow testingand in all that time not a hint of oil, the only sliver of comfort has been the introduction of a new pump better designed for light oil pumping rather than heavy sludge and water and also the lenders are buying shares but they are not looking as we are at large % gains but enough to get their money back while making a few bob to satisy their investment criteria.In addition there is a useful post yesterday on LSE BB by Trump 45 who has calculated from an estimate of water taken by 7 tankers that on the basis of a 50:50 water/oil mix then we should have accumuated some 1400 barrels of water and hence 1400barrels of oil that the site oil reservoir tanks should be almost bursting and we should have had an OIL tanker either today of over the weekend if that is allowed.So I have to conclude on the balance of probabilties is that there will be no or little oil and this well will not be commercial.Furthermore SS may have had 15 successes out of about 30 thats 50% and so he is not infallible and looks like to me this well be another personal failure for him. Maybe the reason no mention of him taking options yet until the results are clearAnd by the way where are those well logs taken months ago--if they had good news to support an uplift in Weald wide OIP then this should have been stated despite a possible SS tactical ploy to hold off until good flow rates can be publicised but nevertheless the logs would be sp enhancing [ we assume] and so should be statedSo whats the general OBJECTIVE view here as waste of time trying to get a sensible answer from the LSE zealots?

Bistable 14:30

Getting Very Worried on the 15th Nov the RNS said:<optimised sequential flow testing has commenced>It didn't say clean up operations had commenced but flow testing.They had already tested K! and found it uncommercial without additional stimulation and since then we have heard nothing but nothingWe now find P2G with whom I have great resepct now saying:in the last few days:<The tanker hose is up over the mud or returns tank. it is very likely simply taking returns muds/fluids away, maybe after the well was displaced.You may get some hydrocarbons in the returns but it would and should be very minor if the mud weight was maintained correctly, meaning much of anything in the returns would only be from the cuttings area of the wellbore being drilled etc & not from the adjacent formation>.:so in a month all we have achieved is clean up operations-is that reasonable.? that is clearly not flow testingand in all that time not a hint of oil, the only sliver of comfort has been the introduction of a new pump better designed for light oil pumping rather than heavy sludge and water.In addition there is a useful post yesterday on ii BB by Trump 45 who has calculated from an estimate of water taken by 7 tankers that on the basis of a 50:50 water/oil mix then we should have accumuated some 1400 barrels of water and hence 1400barrels of oil that the site oil reservoir tanks should be almost bursting and we should have had an OIL tanker either today of over the weekend if that is allowed.So I have to conclude on the balance of probabilties is that there will be no or little oil and this well will not be commercial. Furthermore SS may have had 15 successes out of about 30 thats 50% and so he is not infallible and looks like to me this well be another personal failure for himSo whats the general OBJECTIVE view here as waste of time trying to get a sensible answer from the LSE zealots?

younginvestor95 13:39

P2G Hi P2G,I was just wondering what your idea was about the oil analysis? surely they will have received this information by now, is it a bit worrying that it hasn't been released or do you think they are just keeping it until a bigger RNS?and would keeping that information away from PI's be allowed? i'd say its pretty substantial news, and surely would fall within the same margins for keeping of news? best wishes,YI

camperdown 11:35

RNS timed for witching day? SS you are a cutie,glalth

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