UKOG spiked to an 11p high yesterday and is now 5.1p .
Would you disagree that UKOG have made more progress in 1 year since acquiring the Broadford Bridge license from Magellan and Celtique than Cuadrilla/AJL have made in the past 6 years ?
In the Weald I'd say UKOG are more advanced and that both Horse Hill and Broadford Bridge will be in production before Balcombe .
They are talking about acquiring something like 7 more sites with the intention of multi-well pad drilling .
I rate Steve Sanderson of UKOG as the best manager of UK onshore . They have just drilled and are testing a mightily impressive well which is angled to the vertical . Why drill yourself if you know how to choose and manage contractors ?
If Steve Sanderson has made a mistake it is to commit to sharing some of the proceeds with local communities . I'd prefer it if he had not done that .
Surely UKOG's 100% ownership at this stage is vastly preferable to Lucas's with Kerogen in control .
As far as the central govt politics go it's a shambles for both of them . Let's see if Ineos can free the log jam in the Bowland or whether the shale gas acreage will prove worthless due to lack of central govt support .
AJL/Cuadrilla seem to score over UKOG only in these areas :-
- Not having any connection to rogue Australian promoter David Lenigas
- Not being listed on AIM
- Having Bowland acreage
I wouldn't say UKOG have won it by a knockout but they are surely winning it on points .
AJL Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
