Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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"..a fresh start with the Gas business."
As for Loxley; another dream for another day. Needs an appraisal drill to PROVE commerciality. Only costs £7m (UKOG cost estimate revealed at the planning enquiry).
Trouble is UKOG have not got the cash and need a partner, but who would want to partner UKOG?. IF another company was interested, imo UKOG would be left with an insignificant share.
The development costs would be large; UKOG revealed in the planning enquiry that IF successful , the full field development would cost £50m.
Can only think that consolidation is the only way forward now,with a fresh start with the Gas business.
It's the usual "suckers" UKOG price move, the value of ALL the trades today is UNDER £40k, says it all !!!
Would be nice if this pile of s...t made some decent ground North, but I think it would take a miracle and I can`t see that happening anytime soon. GLA
RNS 23.02.2024
Extract; " Failure to carry resolutions 3 and 5 will, therefore, mean that the Company will not be able to fully implement its operational and growth strategy."
I think they would no longer be a 'going concern' They MUST raise more cash through share issues; an awful of shares
I suspect the buyer of 121 million shares has not fully appreciated the impact the the fundraising to come . They are exposing themselves to two risks;
1 complete wipe out if the resolution fail and UKOG are advised to call in administrators
2 massive dilution by the creation of huge numbers of new shares thereafter to satisfy UKOG's working capital commitments.
UKOG have to get the accounts signed off and demonstrate they have funding for next 12 months.
UKOG need to raise a lot of cash.
With just Admin costs last reported at £2.7m p.a ; you can see an awful lot of dilution is to come.
Good grief talk about reckless gambling .
I am expecting those shares value to plumet
More to come...
Sources,
I've been with these since 2016 through thick and very very very thin... not going anywhere just yet...
28m seller out of the way. more rise to come here.
Traders will be back in this soon.
I feel sorry for anyone who sold.its not all over its just begining.
Keep on guessing then.
All will be revealed Thursday /Friday next week ?
Adjective
believing something that is not true.
Not applicable: I wrote of a hypothesis, not of a belief.
+18.11%
Ocelot have you ever heard of the word Deluded
If they could just release some positive news, re Portland, re Loxley, then the price is nicely poised.
121m buy spotted at high of day!
Ocelot:-
Keep the faith
121m+ at 0.0079p
CYAN
Your message of 12.23 today
£61M wasted in 7 years with nothing to show for it.
Anyone ever watched "The Wolf Of Wall Street"
Bring consolidation on.... sooner the better
Whom in there right mind would even take up any new shares after consolidation unless there is a master plane to actually produce something. In my experience any consolidation will drive the value/price down even further without good news to accompany it. GLA hope a miracle is coming.
7% of f all is f all
LMAO.
You should know how the game works by now....
Huge drop over a few weeks period. Then a single day of a slight rise..
You should ask a fisherman about how he uses a lure.... Yep, another one nibbles at the bait and bang, hooked.
Then you get the repeat for the next fish. The lure is there, how many fish get caught in the latest scam trap?