Rocketing this morning on a superb upgrade !...

Suddenly its getting ready to move up.

Volume way down from last week though.

Harry there is a mention in todays Sunday Mail regarding the French connection.

Well, the Weald Basin does stretch as far as northern France. I've been retired from the industry for a good while now but this was being talked about years ago. A lot of "ifs", "buts" and "maybes" with this whole scenario but very interesting, nonetheless, especially geologically.

Thanks mitzy.

http://www.dailymail.co.uk/money/markets/article-4763920/French-billionaires-buy-Gatwick-Gusher-oil-firm.html

Do the french know how to drill for oil? instead of trying to nick ours when dont they drill a few holes west of calais?

Have you seen that lot near Calais? The same that nicks Nigeria's oil. Better in the ground.

Sp perking up again....goody....

Operational Update,
Successful Broadford Bridge-1z Sidetrack Drilled to Optimise Flow Test Potential
Broadford Bridge-1 Exploration Well, Weald Basin, UK

Highlights



· To deliver optimal Kimmeridge flow test potential, a sidetrack, designated Broadford Bridge-1z ("BB-1z"), has been successfully drilled, logged and cased over the entire 1,480 ft thick Kimmeridge reservoir section.

· BB-1z delivers a fresh, fractured oil-bearing Kimmeridge reservoir section identical to BB-1, with minimal formation damage and an in-gauge 8.5-inch borehole optimal for well completion and flow testing.

· The sidetrack, from 2,613-5,757 ft measured depth ("MD"), runs parallel to BB-1, some 200 ft to the south, mirroring the original BB-1 trajectory. All necessary regulatory permissions to drill BB-1z were obtained. BB-1 plugged and abandoned over entire Kimmeridge section.

· Significant oil traces in drilling fluid seen throughout 1,400 ft vertical thickness of BB-1z Kimmeridge section. Wet gas shows near identical to BB-1. Southerly trajectory aimed at possible more intensely natural fractured zones than BB-1.

· Completion of BB-1z as a potential oil producer is now underway and on track. All permissions in place for a comprehensive multiple zone extended flow test, comprising 926 ft total aggregate perforated section.

Stephen Sanderson, UKOG's Executive Chairman, commented:

"Although BB-1 drilling and coring results were highly successful, proving our geological concept, it became clear that the duration and difficulty of coring such highly-fractured rocks in an inclined hole put the borehole in a less than optimal condition, ultimately jeopardising Kimmeridge flow-test performance. Consequently, using the drilling knowledge gained from BB-1, we have delivered BB-1z, consisting of a fresh, undamaged, 1,480 ft thick, intensely fractured Kimmeridge oil-bearing reservoir in optimal condition for flow testing.

The sidetrack's comprehensive image log data also presents an opportunity to unravel the extent and connectivity of natural fracturing within the Kimmeridge reservoir between BB-1 and BB-1z. This will greatly assist our understanding of flow test behaviour and the optimal placement of potential future Kimmeridge production wells at the site.

The sidetrack, BB-1z, is thus a solid investment in the future of the flagship Broadford Bridge discovery and the wider Kimmeridge play that underlies UKOG's significant licence holdings."

Interesting development on the side track.

For me, the most interesting part of today's excellent full RNS announcement was the following paragraph:

"Additionally, BB-1z delivers a unique opportunity to map the lateral connectivity of the natural fracture system between BB-1 and BB-1z. This is a key piece of reservoir information, which along with the analysis of 554 ft of core and electric logs, will greatly aid the placement of future wells and ultimately help optimise any potential production from the reservoir at Broadford Bridge."

Make of this what you will.

StockMarketWire.com
UK Oil & Gas Investments completed the acquisition of a 1.9% shareholding in Horse Hill Developments (HHDL) from Regency Mines, previously announced on the 10 July 2017.

The Company now holds a 32.435% beneficial interest in the onshore Weald Basin licences PEDL137 and PEDL246.

The Licences, covering an area of 55 square miles (143km2) north of Gatwick Airport, contain the Horse Hill-1 (HH-1) Portland sandstone and Kimmeridge Limestone oil discoveries.

As previously reported on 21 March 2016, HH-1 flow tested at a significant commercial aggregate stable dry oil rate of 1,688 barrels of oil per day from the uppermost two Kimmeridge Limestone intervals and the overlying Portland reservoir.

Regulatory permissions are being sought for a significant long-term production testing and appraisal programme of the productive Kimmeridge Limestone and Portland reservoirs.

For £323,000, the company will receive a further 1.235% beneficial interest in the licences via the purchase of Regency's 1.9% shareholding in HHDL.

The total consideration, with an effective date of 28 June 2017, is comprised of £54,498 payable in cash and £268,502 in the form of the issue of new ordinary shares in UKOG.

The calculation of the consideration shares is based on using a share price equivalent to the 30-day volume weighted average price of UKOG share prior to 29 June 2017.

As such application has been made for 17,361,862 new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 30 August 2017.

Following Admission, the company's enlarged issued share capital will comprise 3,538,120,962 ordinary shares.

The company does not hold any shares in treasury. This figure of 3,538,120,962 ordinary shares may be used by shareholders in the company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the company under the FCA's Disclosure and Transparency Rules.

HHDL is a special purpose vehicle, which owns a 65% working interest and operatorship of the licences.

UKOG on completion will own a 49.9% beneficial shareholding in HHDL, which equates to a 32.435% net working interest in the licences. The remaining 35% interest in the licences is held by Magellan Petroleum (UK)

And the parent company of Magellan since early this year is ???? And the largest holder of said parent company's stock is ???? And the company with the huge war chest available to it for 2017/18 is ???? And the Bouygues are from ???? And the Weald Basin covers a large area including ???? Draw your own conclusions.

Does all of that matter too much? Australian, USA, French, British.....so long as the asset gets developed.

Agree absolutely. Jobs will be created and taxes will be paid in the UK.

Trading bounce today.

so where's this much noised RNS about zillions of barrels of oil?

7.40 v 7.45p - 05 Sep 2017 16:01

Ready for bounce the last 30 min.

Had earlier a 38.2% intraday reetracement @ 7.30p and never came further down than that. Level 2 has improved for the last 20 minutes.

38.2% intraday retrace
-

7.575 +1.10p

Last minute buyers are pushing the price higher

Well...testing is ongoing...keep an eye also on Providence Resources....you never know...might strike lucky...two big punts here....