Rocketing this morning on a superb upgrade !...

Statement re Media Speculation
UKOG notes recent media speculation regarding a fundraise and announces that it is considering raising funds. The Company is progressing discussions and should any arrangement be finalised a further announcement will be made. Terms including amount and pricing are to be agreed and there can be no certainty a transaction will be finalised.

cynic

You forgot EUA it will explode very soon, when the licence lands it will have the go ahead to produce 140k oz Pa of platinum (2 million ounce reserve ) fully funded by Sinosteel (China's state owned EPC, please do some research and get on board. while their cheap..

EUA
personally, i wouldn't go near it for all sorts of reasons, but you fill your boots

Cynic

They are already in production on a small scale at WK the current sp doesn't even reflect that, do some research and make a few bob.

no thank you ....... i don't like these tiny companies where MM's can easily manipulate the price and spread ...... but am more than happy that you should make a fortune

UK Oil and Gas Authority ("OGA") Grants Approval for Extended Flow Test ("EWT") Programme

Horse Hill-1 Kimmeridge and Portland Oil Discovery, Weald Basin, UK

Highlights:
· Planned 150-day production EWT set to commence on Horse Hill oil discovery.

· All EWT regulatory permissions now in place and EWT operations are fully funded.

· The EWT follows the successful short-term 2016 flow tests which achieved an aggregate stable rate of 1,688 barrels of oil per day ("bopd") over three 30-90 hour test periods.

· EWT comprises 3 separate long-term flow periods of the oil productive Portland, Kimmeridge Limestone 4 ("KL4") and Kimmeridge Limestone 3 ("KL3") zones.

· Programme aims to confirm commerciality of Portland and Kimmeridge Limestone oil discoveries and gear-up for first permanent oil production targeted in 2019.

· Targeted drilling of HH-2 appraisal well as future producer to follow a successful EWT outcome. Planning approval and environmental permits for drilling are in place.

UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has been informed by Horse Hill Developments Ltd ("HHDL"), the operator of the Horse Hill-1 ("HH-1") KL3, KL4 and Portland oil discovery, in which the Company holds a 32.435% interest, that the OGA has granted its consent for the forthcoming HH-1 EWT programme. All other necessary regulatory consents from Surrey County Council ("SCC"), the Environment Agency ("EA") and the Health and Safety Executive are in place. The Company has funded its full share of operational EWT costs. Commencement of the EWT, expected shortly, will be announced in due course.

Stephen Sanderson, UKOG's Executive Chairman, commented:
"Horse Hill is the first in a series of planned near-continuous appraisal drilling and testing operations designed to convert the company's recoverable resources into permanent production and reserves.

UKOG remains confident that the comprehensive long-term flow testing campaign will provide the necessary data to fully assess Horse Hill's commerciality and, most importantly, help meet our corporate target of first stable oil production and significant positive cash flow in 2019."

StockMarketWire.com
UK Oil & Gas Investments confirmed that flow-testing had commenced on a recent oil discovery at the Horse Hill project near Gatwick Airport.

Operator Horse Hill Developments had informed the company that all key equipment necessary to carry out a 150-day long-term extended flow test campaign was now on site.

UK Oil & Gas held a 32.435%% beneficial interest in licence PEDL137 containing the HH-1 oil discovery.

StockMarketWire.com
UK Oil & Gas Investments reported a deeper first-half loss after costs rose and it wrote-down the value of an asset.

Pre-tax losses for the six months through March amounted to £4.4m, compared to losses of £1.1m on-year.

The write-down was mostly related to intangible assets in Kimmeridge Oil & Gas, specifically costs associated with drilling an unsuccessful well, the company said.

Investment in both exploration and evaluation assets and oil and gas properties increased to £5.0m.

Hell of a rebound here......damn...missed out on this......

lucky boy then
this company has a long history of delivering misinformation and worse

It's the rebound by the sp Cynic......with these minnows, now and again this happens.....

if you wager only a little, then your gain/loss is according, and is it really worthwhile?
try running a dummy portfolio of micro-minnows and see how good you were - or not as the case might be

a couple of the pharmas - eg AOR or PYC - would probably be a better long-term bet

Sometimes you can see the forthcoming rise about to start Cynic....worth a punt at times....

not here and most definitely not with my money

StockMarketWire.com
UK Oil & Gas Investments said it had raised £2m via a share placement to fund 'opportunistic investment' and expand its asset base.

New shares in the company were issued at 2p each.

The placing represented an additional £2m to the previously announced £10.5m investment secured to deliver sufficient working capital for core projects over the next 18 months.

more like an opportunistic share placing

StockMarketWire.com
UK Oil & Gas Investments said it intended to change its trading status from an investing company to that of an operating company, allowing it to take controlling stakes in assets.

The change would be implemented in line with AIM rules following publication of an admission document and obtaining shareholder consent.

A status-change circular and admission document were expected to be published before the end of July.

Under its new status, UK Oil & Gas Investments said it would be able to take direct controlling operated interests in oil and gas exploration, appraisal and production assets -- and generally conduct its business with fewer restrictions than an investing company.

Portland high-rate flow test successfully completed

Horse Hill-1 ("HH-1") Portland and Kimmeridge oil discovery, Weald Basin, UK

Highlights:
· Portland short-term high rate tests achieve stable implied equivalent daily pumped rates of 401 and 414 barrels of oil per day ("bopd") of dry 36 API oil over two periods of 6 and 2 hours, respectively. Maximum instantaneous half-hourly pumped rates of 441 and 470 bopd.

· The maximum rate recorded was limited by the rod pump's maximum rate capacity of approximately 470 bopd. Higher capacity rod pump sourced and mobilised for use at HH-1.

· Metered daily oil rates and recovered Portland volumes to date exceed 2016 test values.

· Associated solution gas rates of around 41,000 cu ft per day.

· Forward extended well test ("EWT") programme includes flow optimisation necessary to determine the maximum sustainable long-term flow rate and a lengthy stabilised flow period to test if the well accesses a commercially viable oil volume.

· The primary EWT objective, to establish the commerciality of the Kimmeridge Limestone 3 & 4 oil pools, will follow directly after the completion of the Portland test sequence.

http://www.moneyam.com/action/news/showArticle?id=6078799

Portland extended well test ("EWT") successfully completed, Kimmeridge EWT to commence

Horse Hill-1 ("HH-1") Portland and Kimmeridge oil discovery, Weald Basin, UK

Key Points:
· Final HH-1 Portland flow test sequence successfully completed. all Portland operational objectives achieved.

· Successful Portland re-perforation programme targeted 114 feet of oil pay, adding 14 feet of new pay. Following re-perforation, well productivity increased by up to 65%.

· Independent oil consultants Xodus Group's ("Xodus") analysis of flow and pressure data interprets that further HH-1 Portland vertical well optimisation could achieve a forecast sustainable initial 24/7 pumped rate of around 362 barrels of oil per day ("bopd")* when full scale long-term production commences, exceeding original estimates. This analysis is key as it establishes the absolute flow potential of the Portland reservoir for future production wells.

· Given the knowledge of the Portland's true flow potential, plans are now being formulated to drill either the HH-1z sidetrack or HH-2 new drill as a horizontal Portland appraisal well, with a targeted* sustainable daily production rate of 720 to 1,080 bopd, 2 to 3 times the forecast calculated* HH-1 vertical well rate of 362 bopd. All planning permissions, Environment Agency permits and the HH-2 well cellar are in place for a horizontal well. If successful it is envisaged that all future Portland production will be via horizontal wells.

· The Company's economic modelling indicates that HH-1 Portland is robustly commercial at even the lowest observed sustainable daily rate of 140 bopd and at oil prices below $60 per barrel. A formal Horse Hill Developments Ltd ("HHDL") declaration of Portland commerciality is therefore expected shortly following receipt of Xodus' final connected oil volume analysis. A planning application for long term production is planned to be submitted to Surrey County Council shortly, prior to the completion of the forthcoming Kimmeridge EWT programme. Full-scale long-term production, targeted for 2019, is subject to co-venturer and regulatory approvals.

· All 36° API Brent quality oil produced during the EWT is "dry", containing only 0.02% water.

· Preparation for the primary EWT objective, to establish the commerciality of the Kimmeridge Limestone 3 ("KL3") and KL4 oil pools underlying the Portland, has now commenced.

· Kimmeridge testing will begin in the uppermost KL4 oil pool immediately following the removal of two suspension plugs and installation of a new completion string straddling the two Kimmeridge oil pools.

StockMarketWire.com
UK Oil & Gas said oil had continuously flowed to surface during an extended well test at its Horse Hill prospect near Gatwick airport.

Horse Head's Kimmeridge Limestone 3 programme had recorded sustained light, sweet crude oil flow continuously and naturally to surface over the past 50 hours, the company said.

Oil had flowed at sustained rates significantly exceeding those recorded during a short flow-test programme in 2016.

Sustained continuous oil rates of between 563 and 771 barrels of oil per day on 36/64 and 38/64 inch choke, respectively, were recorded over the last 24 hours.

'I am delighted to have witnessed first-hand the resumption of significant continuous and sustained oil flow from the Kimmeridge at Horse Hill,' chief executive Stephen Sanderson said.

'Whilst it has been a long wait since the successful 2016 flow tests, it has been made more momentous by the Kimmeridge's significantly increased performance and productivity.'