Stephen Sanderson, Executive Chairman and CEO for UK Oil and Gas, joined Zak Mir and Nick Batsford on the Tip TV Finance show to discuss the future and potential for UKOG.
Sanderson starts by highlighting how the Gatwick Gusher depends on flow-testing, ahead in the upcoming 2 months, but stresses that the whole potential for UKOG doesn’t rest alone on this.
Media attention necessary for growth
On the media frenzy previously, he says how UKOG is portrayed as a one trick pony, which goes against their large portfolio. Adding to this, he says how they have 11 licenses in 4 producing fields with the game changer being the Weald basin. Sanderson continued that over 8 licences, there is potential for 16 billion barrels, with a recovery rate of between 3-8%, meaning a few million barrels being available.
Sanderson says that UKOG has been misunderstood by the media in the past. – Watch the video for further insights on the same.
UKOG undervalued
When questioned by Zak Mir on the share price, Sanderson highlights how the stocks remains undervalued.
The future for UK Oil and Gas
He concluded that UKOG has a good portfolio with a great variety of assets, also it is well cashed up which is unusual for similar firms, and he finished by commenting on its strong, well experienced technical team.
With further ventures available in Mark Wells Wood and the Portland discovery – See where UKOG plans to operate and the true flexibility of their portfolio.
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