Rocketing this morning on a superb upgrade !...

Looks like ...I shall have to be patient on this one......I mean patient ..patience...not ..a patient..hospital.....(gulp....)....

Canaccord note:
"UKOG and partners drilled the Horse Hill-1 well near Gatwick, which was completed in early November 2014. The well was an oil discovery in shallower Portland Sandstone reservoir, and there were reports of oil shows in the deeper limestones of the Kimmeridge Clay Formation (this is the formation which produces most of the oil in the UK North Sea). In mid-December the company reported that the oil in place for the shallower sandstone was 8.2mb (company figure) – this is probably about 2mb gross recoverable (UKOG has a 20.3% interest – it is worth noting the company increased its interest in the Horse Hill licenses by 5.2% for £0.58m in early March), a typical onshore UK small oil field and what could be a nice small development.The real interest is the Kimmeridge Clay Formation (KCF). UKOG indicated yesterday that Nutech, a US company engaged to assess the deeper zone potential, has determined 158mb oil in place per sq. mile in the deeper levels – as the Horse Hill licences cover 55 sq. miles, this implies 8.7bn barrels. So first off, it's a little confusing where the 100bn barrels comes from in some media reports, except that the company indicates that the potential extends significantly beyond the 55 sq. miles of the Horse Hill licenses.
A lot of technical information is provided, but the reality is that only 16% of this is identified in the limestones or 18mb per sq. mile. Yet these limestones in the Horse Hill-1 well were originally described as having weak or no oil shows. The bulk, 84%, of the resource, is identified in mudstones. Mudstones are as close to shale as you can get without being formally identified as shale. So the reality is that the majority of this identified resource appears to be (quasi) shale oil. Given that and the comparisons provided by the company with major US shale oil producing areas, and the relatively low theoretical potential recovery (perhaps 5-15%) suggests that the vast majority of this resource, which is in the 'mudstones', would very likely require fracking to deliver meaningful production, but there is a possibility that the 'limestones' might produce without fracking.
The potential for shale oil resources in the area had already been identified by the British Geological Survey which suggested about 4.4bn barrels oil in place in the area. The BGS report was not very upbeat about the potential for oil production from this geology. If UKOG is right then BGS will need to rethink.
Overall, this remains highly speculative, with a very long way to go to show technical producibility, let alone commerciality. However, it will have sparked some wider discussion about potential for south of England large scale oil resources.

There are more updates due ....so we shall see....

UKOG know that they can't raise the massive amount of money or afford the long wait to extract the oil without a major oil company buying them out, so what they are doing is buying up all the oil&gas permit's that they can. and what we have seen is them using the news media to put pressure on the government and major oil companys to move to get things rolling.

unless i am much mistaken, no licences to drill in a commercial sense have even been granted

the public ramping is disgraceful and for sure it will end in tears for all except the directors who will be weighed down with gold bars

Pump and Dump is written all over this one.

We've only had 2 days of pump and dump....early days yet : the market cap is £38 million (on moneyam).....that is minimal by todays standards .....there is plenty of room for improvement.....I still think that 5-6p is possible by the summers end.....and if an appraisal well gets the go-ahead : that will help the sp....

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Up a touch this morning....

Clarification of Press Comment in relation to 9 April Announcement

Further to its announcement of 9 April 2015 in relation to the upgrade of its Horse Hill discovery, London quoted UK Oil & Gas Investments PLC (LSE AIM: UKOG) wishes to repeat and clarify a number of points as a result of recent reports in the media.

US-based Nutech Ltd ("Nutech") estimates that the Horse Hill-1 ("HH-1") well in the Weald Basin has a total oil in place ("OIP") of 158 million barrels ("MMBO") per square mile. The upgrade is in relation to the Kimmeridge, Oxford and Lias sections of Horse Hill and does not relate to the previously reported Upper Portland Sandstone oil discovery.

The OIP hydrocarbon volumes estimated should not be considered as either contingent or prospective resources or reserves.

The Horse Hill licences cover 55 square miles of the Weald Basin in southern England in which the Company has a 20.358% interest. It is estimated that the relevant Jurassic section of the Weald Basin is approximately 1,100 square miles. The Company has not undertaken work outside of its licence areas sufficient to comment on the possible OIP in either the approximate 1,100 square miles or the whole of the Weald Basin.

Further development work in the form of appraisal drilling, well testing and assessment of recovery factors will be required to seek to quantify net resources in relation to the Company's licence areas and to prove its commerciality.

Nutech's report to the Company states this OIP of HH-1 lies within a 653 feet aggregate net pay section, primarily within three argillaceous limestones and interbedded mudstones of the Kimmeridge, and the mudstones of the Oxford and Lias sections. Approximately 72% of OIP, or 114 MMBO, lies within the Upper Jurassic Kimmeridge interbedded limestone and mudstone sequence.

In order to establish estimates of total OIP within the licence areas, the semi-regional resource potential of the Weald Basin's eastern footprint is the subject of ongoing analysis under the contracted alliance between Nutech, UKOG and Solo Oil Plc. The results of the estimated OIP within the licence will be reported when completed.

Final assessments of the Upper Portland Sandstone and the Oxford and Lias sections are in progress, with further results expected shortly.

Thanks for the graph.... there will be a resource update soon which will be interesting....

There is some interest on the shares again since yesterday 2.125p

Picking up pace again.....

If the further analysis due any day confirms oil in place, this will rocket. The others look cheap in comparison, Alba and especially Stellar with 10% at just 3.5m!

Yes....and news of an appraisal well would help...but that might take time....not easy to get oil of the ground when you think of all the environmental concerns.....(who the hell is Stella ?....can't remember....must have been one of those nights....)....

Reaching 3p not long ago, plenty of demand once again, naturally with volume

others on the HH find with 10% each

edit &

What about DOR?...... they have 10% as well

The most under valued HH developer of the lot!!!

A lot of chatter on the web about an impending RNS, don't think Mr Lenigas is a happy man this weekend!

why mike, apart from the fact that lenigas would seem to be a flake of the first order?
is he being outed for yet another scam or shady deal or whatever?

Never mind Mr Lenigas being unhappy , will the shareholders be unhappy ?