The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

Join ShareProphets at less than 2p per article

> All the big AIM fraud exposés

> 300 articles and podcasts a month

> Hot share tips

> Original investigations by our experienced team

> No ads, no click-bait, no auto-play videos

Find out more

UK Oil & Gas - is there something ( quite a lot actually) you are hiding at Broadford Bridge

By Tom Winnifrith | Thursday 10 August 2017

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.

Little Steve Sanderson of UK Oil & Gas (UKOG) is a slimy little git. Do you remember the BBC expose where he was caught on camera making claims about Horse Hill which he then denied making? If you have forgotten about that shameful eipisode here is a reminder. Now the Weald Basin circus moves on to Broadford Bridge and this time it is more about what oily little Steve is NOT saying. Natch it is bad news he hides. Here is the timeline:

On 20th July:

"Schlumberger electric logging and fracture imaging completed, cement plug in deeper Corallian sandstone set and 7-inch steel casing currently being run in the hole. Flow testing of multiple zones over an aggregate 900 ft total perforated section to commence following setting of remaining 7-inch steel casing to TD and well completion."

On 31st July

Work continues to "complete" the well as a potential oil producer to be followed by a rig-less flow-test, encompassing multiple Kimmeridge zones over a total aggregate perforated section of 926 ft....Flow testing will commence after the rig has vacated the site."

But hang on what is this from the 29th July - source HERE.

Clearly the company had had to start a completely new sidetrack drill. One specialist we have spoken to says that this must have happened because the original well bore may have collapsed.
This would be because little Steve's boys drilled through a big fault. That is the same reason the UKOG crew managed to get a reasonable flow at Horse Hill - it is because the limestone has large fractures at the fault region but that won’t help much for long term flows.

Moreover when will flow testing start? When the rig leaves the site. You would have thought, judging by the 31 July RNS that would have been days ago. We are told the rig is still on site.

How about a full come clean update from little Steve?

PS And this article did indeed prompt oily little Steve to issues an RNS HERE

Filed under:

Never miss a story.

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

More on UKOG


Comments are turned off for this article.

Site by Everywhen