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It's just saying that they don't need to show separate accounts for just the activities of the top level company, just the top-level and subsidiaries consolidated together. That's standard and not sus, unlike most of the rest of the report.
As permitted by section 408 of the Companies Act 2006, the profit and loss account of the parent company has not been separately presented in these accounts. The parent company loss for the year was £16,757,000 (2021: loss £1,716,000).
These financial statements were approved by the Board of Directors on 28 March 2024 and are signed on its behalf by:
Stephen Sanderson Director
Any financial wiz kids out there.
RNS, I have only read so much and stopped in disgust at all the false claims, who ever sanctioned that load of rubbish should be put in jail…
Yes what a terrific read, i notice they don't blame greenies for lack of success. More money needed. Strong suspicion even Slanderson can't hold this sham together much longer. Wonder what the disciples say
Looks like UKOG are looking for a new CFO, Guzyal Mukhametzhanova's name is no where to be found in the annual report.
Material uncertainty related to going concern
We draw attention to note 2b in the financial statements, which indicates that the group will require additional funding in the coming twelve months to meet their ongoing cash requirements.
Out if you hadn't noticed or is it just stunned silence?
Worse than I thought.
year ended 30 September 2023 £'000 Revenue 1538 Other Cost of sales (1,019) Administrative expenses (3,320)
year ended 30 September 2022 £'000 Revenue 1780 Other Cost of sales (701) Administrative expenses (2,643)
And they also fail to mention the amount ALBA and DOR take out of the pot. Only leaves UKOG with 85%.
They never tell us how much they get from Horndean. In the last set of accounts it was a measly £136,000 net earnings after operating costs.
Revenue of anything less than £1,780,000 will be a reflection on how bad they are doing. Ditto Other Cost of sales over £701k and Administrative expenses over £2,643,000.
Ohhh, trying to be clever there, PBoo?
Waiting for someone to point out that the £1 Million quoted isn't actually cash in the bank (like the waste of skin likes to claim) and then you'll act all innocent and claim that that's not what you said?
$80.23 / 1.26 = £63.67/bbl
The last available production cost/bbl quoted by UKOG was £32/bbl
The production cost will have increased due to inflation, but until UKOG publish the (overdue) accounts, we won't know what it is now.
So £63.67 - £32 = £31.67/bbl.
£31.67 x 44 x 365 = £508,620.20
Of course, that's also calculated using the heroic assumption that production will remain at 44 BOPD, which ignores the decline curve that HH is on.
So just the Directors annual remuneration of £496k quoted in the last Financials (no doubt also increased due to inflation - we'll find out when the next results are announced...) will leave nobody in doubt that UKOG are, in reality, running at a substantial loss.
""Good to see production is steady at 44bopd""
Yeah yeah,,, IT'S REFLECTED IN THE SHARE PRICE !!!!
Reporting Period Month Name January 44 bopd
Oil Production Mass (tonnes) 181.89
m3 215
Associated gas production mass (tonnes) 5.418
Associated Gas Production Volume (ksm3) 6.088
Gas Flared - Volume (Ksm3) 6.088
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 165
Reporting Period Month Name December 45 bopd
Oil Production Mass (tonnes) 188.658
m3 233
Associated gas production mass (tonnes) 6.755
Associated Gas Production Volume (ksm3) 7.59
Gas Flared - Volume (Ksm3) 7.59
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 168
Reporting Period Month Name November 44 bopd
Oil Production Mass (tonnes) 176.814
m3 209
Associated gas production mass (tonnes) 6.124
Associated Gas Production Volume (ksm3) 6.881
Gas Flared - Volume (Ksm3) 6.881
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 185
Reporting Period Month Name October 45 bopd
Oil Production Mass (tonnes) 187.812
m3 222
Associated gas production mass (tonnes) 7.309
Associated Gas Production Volume (ksm3) 8.212
Gas Flared - Volume (Ksm3) 8.212
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 202
Month bopd
Feb 23 57
Mar 23 54
Apr 23 46 Tank washing
May 23 57
Jun 23 56
Jul 23 50
Aug 23 46
Sep 23 48
Oct 23 45
Nov 23 44
Dec 23 45
Jan 24 44
Receipts for January $80.23 x 44 x 31= $108,426
Receipts for December $77.86 x 45 x 31= $108,615
Receipts for November $83.18 x 44 x 30= $109,349
Receipts for October $91.06 x 45 x 31= $127,029
Receipts for September $94.00 x 48 x 30= $135,360
Receipts for August $86.16 x 46 x 31= $122,864
Receipts for July $80.11 x 50 x 31 = $123,957
Receipts for June $74.89 x 56 x 30 = $125,815
Receipts for May $75.70 x 57 x 31 = $132,738
Receipts for Apr $84.11 x 46 x 30 = $115,801
Receipts for March $78.53 x 54 x 31 = $132,451
Receipts for February $82.71 x 57 x 28 = $132,347
Feb 12 2024 "UKOG considering a downhole pump changeout and scale removal programme to enhance oil production from HH-1. Further updates to follow."
I wonder what happened to that workover?
Good to see production is steady at 44bopd
That is approx £1 million per year.
215 m3
44 bopd
water 165m3
It seems that a lot of investors just do not read before they invest.
That the price con go down as well as up so before you put your money in.
That buying shares is only just better than Ladbrokes betting shop.
With shares if it goes you can sit it Might go back up or you sell at a loss
With Ladbrokes you bet and win or loss nothing in between.
Does UKOG belong on a rotten shares list? Just trying to work out what inspired Adrain's latest account name...
ukog are flagrant lawbreakers and rule ******s, it astounds me how they get off with it, constantly showing contempt for the rules as well as their shareholders…
Last week, and AME had a stand there - surprised that UKOG don't have a stand in these 'trade' events where companies 'sell' the prospects etc they want to farm out.
A coincidence AME published their annual report last week? - did they check there wasn't anything contrary to what UKOG have said about Resan?
Should have been released on Thursday - why wasn't it?
From AIM rules for companies:-
'Annual accounts
19. An AIM company must publish annual audited accounts which must be sent to its
shareholders without delay and in any event not later than six months after the end of the
financial year to which they relate'
......and according to AIM rules failure to publish accounts within 6 months of the accounting period for the Annual Report leads to suspension.
'The Exchange will suspend AIM companies which are late in publishing their half-yearly report
or their annual accounts, pursuant to rule 40.'
Though rule 40 does suggest there are excuses.
After all they have been busy tidying up after the GM resolutions got passed on the second attempt, though that was only after ensuring that the pi vote didn't count having stuffed the EBT with over 3 billion shares to vote in favour - and incidentally about 1,000,000 more than the 10% the EBT is limited to.
Unfortunately as the Annual Report, and more importantly the accounts, will only be up to end last September we still won't know if the loan note holders have an extra £1,000,000 of notes to convert on top of the, as UKOG put it, 'principal balance of the £2 million gross first cash sum received below the prior £0.66 million figure announced on 23 January 2024.'
On 13 March UKOG revealed a further 206,965,282 shares were handed over - but the price would be decided at some other time, even 15 days before, no doubt at a time advantageous to the loan note holder.
....and Trish I do copy and paste when necessary - mainly of extracts that have probably not been seen by most posters who seem to be oblivious even to what's in RNS let alone to reports found elsewhere.........or even AIM rules.
Funny how I've seen posts every day since 2017 in which someone saw signs of recovery.
Only signs I saw during that time were of those posters utter delusion.
Still doing it with the benefit of hindsight?
Good luck with that.
We ll I believe this little punt I have on here has signs of recovery and the Irish have all the luck haha
At least we know someone was in the office yesterday.
28 Mar 2024 Consolidation of shares on 5 March 2024
View PDF Consolidation of shares on 5 March 2024 - link opens in a new window - 4 pages(4 pages)
20 Mar 2024 Change of share class name or designation
View PDF Change of share class name or designation - link opens in a new window - 2 pages(2 pages)
15 Mar 2024 Sub-division of shares on 5 March 2024
View PDF Sub-division of shares on 5 March 2024 - link opens in a new window - 4 pages(4 pages)
12 Mar 2024 Statement of capital following an allotment of shares on 27 February 2024
GBP 14,837,846.13269
View PDF Statement of capital following an allotment of shares on 27 February 2024
GBP 14,837,846.13269
- link opens in a new window - 3 pages(3 pages)
08 Mar 2024 Statement of capital following an allotment of shares on 29 January 2024
GBP 14,537,346.13269
View PDF Statement of capital following an allotment of shares on 29 January 2024
GBP 14,537,346.13269
- link opens in a new window - 3 pages(3 pages)
08 Mar 2024 Memorandum and Articles of Association
View PDF Memorandum and Articles of Association - link opens in a new window - 46 pages(46 pages)
08 Mar 2024 Resolutions
Resolution of allotment of securities
Resolution of adoption of Articles of Association
Resolution of removal of pre-emption rights
Sub-division 05/03/2024
View PDF Resolutions
Resolution of allotment of securities
Resolution of adoption of Articles of Association
Resolution of removal of pre-emption rights
Sub-division 05/03/2024
- link opens in a new window - 2 pages(2 pages)
No RNS. Wait and see, I guess.
I wouldn't be getting too excited, 28m traded, value is below £20k for the whole day. I doubt it would have been possible to offload any worthwhile chunk into that !! but then when a stock is confettied to near death and the company assets are more akin to a liability then even if they announced they were upgrading from rich tea to Hobnobs is likely enough to give some hope on here.
specially Adrian & Peeeeeeeee boooo lol