Rocketing this morning on a superb upgrade !...

mitzy and others

Why don't you use the insert a link to a webpage option? its a little chain link next to the insert an image box

We have had just one rns with this......there will be plenty of others and the market will probably react positively on further information....it's risky but with plenty of upside......I can quite easily imagine these north of 5p before the results of an impending appraisal well......(just guesswork).....and you can bet that a placing is coming.....

Another bit of good news....another acquisition.......

UKOG Completes Weald Basin PEDL126 Acquisition from Magellan

The Board of UKOG (AIM: UKOG) is pleased to announce that on 10 April 2015 it completed the acquisition from Magellan Petroleum (UK) Limited ("Magellan") of a 40% interest in the Weald Basin onshore licence PEDL126 ("Markwells Wood"), containing the Markwells Wood-1 Great Oolite oil discovery as previously announced on 20 February 2015.

UKOG's interest in PEDL126 is now 100%.

This acquisition from Magellan is the twenty-first asset transaction that UKOG has completed since 2013. The Company has now acquired interests in four UK onshore producing fields - Horndean (10%), Avington (5%), Lidsey (4.2%) and Brockham (3.6%) - as well as interests in three oil discoveries at Markwells Wood-1 (100%), Horse Hill-1 (20.358%) and Baxters Copse-1 (50%). UKOG is also the operator of the promising offshore Isle of Wight exploration licence, P1916 (77.5%), and has applied for the contiguous onshore Isle of Wight acreage in the UK's 14thLandward Licence Round.

PEDL126 (Markwells Wood) has an area of 11.2 square km, comprising blocks SU/71a and SU/81a, and is located in West Sussex and Hampshire in the western area of the Weald Basin.

The Markwells Wood-1 discovery was drilled in 2011. An extended well test programme was carried out over a 6-month period from November 2011 to May 2012, producing 3,931 barrels of oil. The peak flow rate over a 24-hour period was approximately 100 barrels of oil per day.

UKOG's current interpretation of the Markwells Wood-1 well data and 2D seismic over the discovery and the neighbouring producing Horndean oil field (in which UKOG has a 10% interest) shows that Markwells Wood probably represents the eastern extension of the Horndean field, sharing the same structural spill point and interpreted "oil down to" depth of 4,446 ft TVDss. The Horndean field produced 2.12 million barrels to end 2014 (DECC 2014, see https://www.og.decc.gov.uk/pprs/full_production.htm).

Further details on Markwells Wood are provided in UKOG's corporate presentation of November 2014, available on UKOG's website: www.ukogplc.com.

UKOG and Magellan continue to explore together efficient ways to unlock value from the Weald Basin.

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....

delete

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 &