Rocketing this morning on a superb upgrade !...

Nice to see that Hoyer Petrolog UK has signed a contract with UKOG to transport crude from Broadford Bridge to the Hamble terminal, plus occasional deliveries to Welton, Lincs.

Whoops.

Well that was certainly a welcome little opportunity to make a quick profit.

StockMarketWire.com
UK Oil & Gas Investments said operations would shut down until the New Year at its Broadford Bridge-1z exploration discovery and updated on recent events.

It said the Basal KL3 test has been re-run following mechanical problems. Initial natural flow of approximately 300 barrels of returned completion fluids per day (bfpd) decreased to a continuous rate of 30 to 50 bfpd during well clean-up. Gas blow and live oil traces recovered to the surface.

The company said low reservoir productivity indicates the zone may not be economically viable.

oh dear and quelle surprise!

what is it with you muppets that you continue to trust the crooked management and major shareholders - eg leningas?

Have to be patient on this one Cynic.....more wells to follow....that was disappointing but there is oil there...on to the next drill......there are rarely quick buck fixes nowadays...patience is the key....they seem to be honest with their updates....well they say that if I wasn't a small private investor : I'd be a dog....always faithful ......(please don't misinterpret that one).....

They've hit the edge of the puddle : that's the bottom line....oil is there .....the thing is to determine if the latest oil found has similar properties with the oil from the first well some distance away : if it is exactly the same oil after been sent to labs in the UK and USA : then there is a large amount to be discovered with luckier drills....

I'm not liking the chart.

if you've been mug enough to buy into this bunch of snake-oil salesmen, then i'm afraid you have only yourself to blame .... there's been plenty of warnings

ooouuuhhh.....you are a doubter Cynic.....there's a buck to be made here....have to say I'm at a loss at the moment.....no problem.....prefer to be in others....check out PMO...nice chart there....

i'ld far rather be in IQE which you deride, somewhat without cause except perhaps in the very short term, than in this load of manure

Exploration companies have done reasonably well over past say 12 months. Not because of exciting drilling results but solely based upon current crude lvls. No doubt "US shale boys" will be watching and frack a bit more if and when price is right or needed to keep some investors happy.
OPEC could have done same if not for:
Total disarray within cartel (albeit of late they seem to have acknowledged their errors in the past on flooding market)
Balance of payment of individual OPEC member states dire
Idiotic decision to produce more and more bbls to squeeze mainly US shale producers forgetting that they can frack whenever they like.
Oil at the moment? stay clear .... you may slip on it and hurt your backside

Check out crude robinhood......steady rise.....ftse up to records probably because of it...has a tendancy to rise in tandem....more to come from this company...shame about probably with this well on the edge of the pond if you can call it that but first well flowed 1600 barrels I gather....third and fourth drill to come in the next few months....don't get too excited but a return to above 5p will happen....

only if the shares are consolidated :-)

required field: to be continued... hope for your sake (i am not a holder) that you are right.
For time being let's agree to disagree

I notice that the price of crude is rising......therefore if this continues : projects that weren't viable a few years ago begin to look so....the sealion project out in the Falklands will be very much back in vogue should this trend continue.....oilies are coming back into focus ....of course should the reverse happen....back to putting things back on the back burner...but at the mo ...:...it's looking a little rosier for the oil industry !.

there has to be a decent amount of genuinely recoverable oil before "viable" even comes into the equation
though on-shore, i think shale oil recovery is still a very expensive operation

Cynic I normally like/agree with your views but your 463 post is not one of them

1. Due improved technology the extraction cost of shale oil p/bbl is down by 30-35%.
2. 60 % of ALL economically viable extraction at a price of about $60 p/bbl is shale
3. Some US shale can be extracted at an average price of $40-$45 p/bbl

you forgot to mention that (i think) only 35/40% of a so-called "proven reserve"can be extracted

$60 p/bbl does not leave you much if any margin, if you then have to add in all the development and other costs ... and don't forget what has to be paid to the gov't and the landowner

for comparison, saudi can pump oil at <$10 p/bbl and iraq at <$11

Rather than doing a xmas panto ( oh yes they can oh no they can't) I got more faith in Wood Mackenzie reports... Also suffice to say that US is now a net exporter of hydrocarbons rather than being the importer from the past.
Anyway all the best in 2018-gonna be bumpy