UK 14:54 Friday, 23 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Almost a year since the first drilling “discovery” at Horse Hill and the companies involved, led by David Lenigas ramp UK Oil & Gas (UKOG) still decline to drill again, instead pumping out more and more meaningless reports on the prospect. Today there is another but almost no-one believes the Lenigas blather any more.
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Comments
Peter
Just like other onshore basins in the South of England that are currently in production and have been for some time, I can see a small operation producing a few hundreds of barrels per day and that was not worth 3p a share. I think the fact that the price has now more than halved maybe shows that I did know what I was talking about, maybe Fund Managers should listen to me rather than believing tweets” -
Given some of the bullshit forecasts Mr Monk has made regards some of his fee paying clients I think the words ‘pot, kettle black’ spring to mind.
wildrides
Potential investors please note :- Desperate Dan the AIM highway man was ramping the stock on his website yesterday claiming important news was coming and saying he was invested . There may be a coordinated effort to deprive you of your wealth on the way regarding this share . Ride it if you will but just get out before the spike top and dont be greedy hanging in there too long.
turbograndad
Tom, your friendship with Mr Lemongas seems to be some what strained, I know you have referred to him as such, he seems to have gone from being a bit of a lad with the PR pump and dump, to the devil incarnate, care to elucidate.
TheMadStork
Surely I can’t be the only one who finds Wildrides’ contributions as amusing and informative as the articles themselves? Give the man a job.
Fatsuperman
Ello Mad! I agree, I always enjoy Wilds posts.
johng
david lenigas @DavidLenigas · 3h3 hours ago
I will be very interested to see what the peanut brigade say at kindergarten today on UKOG.
johng
agree with the above comments wrt Wildrides … his comments are quite sharp and witty.
Steve
From the RNS regarding the Conceptual Low-Impact Oil Development Plan released on 5th October we can do some interesting calculations. First of all we have this..
“The development studies are based on a conceptual multi-well pad with 12 horizontal production wells delivering around 2,500 barrels of oil per day at peak production”
Then we have this….
“The production profile and number of wells was designed to limit necessary oil tanker export to a maximum of around 8 tankers per day (one tanker every three hours) to transport produced oil to Fawley Oil Refinery. Within 3 years of initial production, the amount of tanker movements would reduce to 4 per day. Over the estimated 30-year life of a multi-well pad, it is expected that the number of road tankers will average less than one every two days.”
So we know that peak production is 2500bopd and at peak production it requires 8 oil tankers – therefore an oil tanker is approximately 300 barrels. We know over a 30 year life the average is 1 tanker every 2 days, i.e. average production is 150bopd. So lifetime production of 1 multi-well pad is 1.6million barrels (150bopd*365days*30years)
Today we are told the licence area has OIP of 15.7billion barrels – call it 16billion. Lets take a low recovery rate of 5% – so recovery is 800million.
So to recover 800million barrels will require 500 multi-well pads – this in one of the most densely populated, affluent and Nimby areas in Europe.
The entire thing is a complete pipe dream.
wildrides
Super stork and Mad man …………. thanks for the kind words ………. but rest assured I am deffo NOT worthy . The journos on this site really know their onions . I only know one other site that has such good journalism in the share sphere and that is “ Beam me up Scotty “ ( although his commentary is a bit nerdy for my taste ) I just enjoy poking with a long stick when the occasion demands and raising a laugh or smile when I can , whilst watching my trading screen with the other eye . It passes the time between trading activities on the trading side . If I had to do what Tom and Co do for a living I would instantly get writers block . The pressure they feel must be immense . Its a very hard and fine line they tread , where as the worst that can happen to me is get banned (which I am from most other sites , Tom very kindly tolerates my irreverent poking and attempts at humour ;-)
Cowboy Pete
Stephen “I never said 100 billion barrels, although I was captured on camera saying just that” Sanderson was on BBC South East news last night confirming 124 billion barrels of oil at Horse Hill. Presumably the Tunbridge Wells journalists don’t watch other BBC programmes.
Fatsuperman
How very dare you Peter!