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What's 200 million confetti run going to do Penguins ? at best £100k take some underlying chunky fees and probably interest, might reduce the debt by 10-20k the rest is their snouts in the trough !!
I wonder what price these 200,000,000 will be converted at, if it was today and at the mid price of 0.0375p it would only be another £75,000 off the value of shares still owed to the CLN holders. The 13 March shares were converted at a vwap that might have existed on 5 or 8 April - though I'm only going by closing prices that can be deceptive.
There were 2 trades that were almost certainly made by the CLN holders - 28,870,773 on 5 April at 0.05p and 61,094,509 on 12 April at 0.045p - they add up to 89,965,282.
Why made by the CLN holders - the conversion announced on 13 March was for 206,965,282 - I'm pretty sure the last 6 digits being the same is not a coincidence though unlike the previous CLN they're trying to disguise their selling a bit. Probably the 12 April sale was the remaining shares - sold at a loss of about £5,500.
They've already used up over 400,000,000 of the new authorisation to issue about 1.5billion shares. Whilst it's unlikely (and probably impossible with the restrictions) that the CLN holders will convert the remaining cash owed into shares before the AGM the remaining authority of about 1.1billion plus the just announced 200,000,000 would only be enough, at the current mid price, to clear £487,000 of the £545,000 remaining of the probably spent £2mm 'loaned' last June.
What's Adrian (permanently banned poster for being abusive, today's alias 'terrapin eater') going to ramp this weekend?
Supreme Court maybe May?
PPP farm in, maybe never?
HH-2z conversion, maybe risky or not worth doing?
Oil tanker, maybe one a week 'soon' (as in Adrian speak)?
So same as last week, last month, last year, (oil tanker last 5 years).
Or maybe just claim those that keep getting the outcome of the activities right are 'greenies' or 'activists' - all 'imo' the ultimate proof.
Yawn.
Ohhh dear, ADRIAN the Terrapin back throwing insults !! TICK TOCKKKKKKKKKKKKK !!!!!!!!!!
Adrian,
Still a waste of skin.
Reported and binned.
Bye!
Adrian - did it not get deleted when Admin closed that account of yours?
Terrapins are tasty according to Reddit
https://www.reddit.com/r/Cooking/comments/fpwn2/anyone_ever_eat_terrapin/
But, I suppose if you have lost your money on offerings to The Dear Leader (praise be his name) then the taste is not as important as the protein content.
Looks like YA have already started imo.
17-Apr-24 14:04:39 0.035 25,000,000 Unknown* 0.035 0.04 8,750
16-Apr-24 16:15:48 0.03474 48,098,304 Unknown* 0.035 0.04 16.71k
11-Apr-24 15:46:17 0.045 61,094,509 Unknown* 0.045 0.055 27.49k
11-Apr-24 15:43:53 0.045 25,000,000 Unknown* 0.045 0.05 11.25k
11-Apr-24 14:02:38 0.045 25,000,000 Unknown* 0.045 0.05 11.25k
10-Apr-24 16:24:16 0.045 30,000,000 Unknown* 0.045 0.055 13.50k
09-Apr-24 16:26:50 0.05 30,000,000 Unknown* 0.045 0.05 15.00k
The mugs will keep on buying though.
*200,000,000 not 200,000
In case anyone is confused, this isn't new money, it's money they have already lost down a big dry hole in the ground in Turkey.
The loan balance is now £545k and 200,000 shares at current SP will yield £75k, so they need to repeat the process six more times.
So only another seven more months of relentless selling and the load will be paid off.
If you're in contact with Zeus, Trish, can you ask him kindly to pull this share price up? Thank you and thanking him in advance.
Because Zeus told me to.
Late reporting as the CEO cannot be bothered to get out of bed and lift a finger to do things timely or properly.
It would not surprise me if UKOG are using the same company that did all the work back in the early 2000's for Portland Gas. You just need to look at what UKOG have pushed out compared to what was published then. A bit too close for plagiarism for my liking. Could it be that UKOG are being taken for another ride?
"The reduction in the Loan's principal balance from that stated in the Company's 13th March 2024 RNS results from the conversion of the prior tranche of 206,965,282 ordinary shares by the Investors at an average price of approximately 0.054 pence per share."
Nice bit of late reporting by UKOG considering the SP has been down round the ankles for some time. Real shady company imo.
Complete drivel - why do people like you post this nonsense
No need to let everyone know that a RNS has been issued we all have "alerts" switched on
Loan Reduction via Equity Share Subscription
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that to enable further orderly reduction of the balance of the funding facility announced on 28 June 2023 ("Loan"), it has delivered to RiverFort Global Opportunities PCC Limited and YA II PN Ltd ("Investors") a tranche of 200,000,000 ordinary shares ("Equity Shares"). Future conversion of these Equity Shares by the Investors will further reduce the current £0.545 million principal balance of the £2 million gross first cash sum received ...
So more Riverfort and YA dead spiral finance. More money to pay ocelot' wages.
No one except you is taking the Portland scheme seriously.
-----------------
... and the government, apparently, and, according to UKOG, "several significant potential international investors" (RNS of 01/02/24).
Ocelot that tweet just proves that SS is still spouting BS to the loyal believers so that they will buy it's number one product, new confetti shares.
No one except you is taking the Portland scheme seriously.
Portland is not going to happen, there is no hydrogen that needs storing underground in Dorset.
Ummm , "The countdown to lift off begins …" Really.?
UKOG needs a lot of cash up front .
Sanderson better pull an amazing rabbit out of the hat PDQ.
The company is in DESPERATE need of cash. I suspect administration is getting pretty close now as this hugely loss making company, imo, no longer appears to be a going concern.
Reminder of this tweet of 05/12/23:
UK ENERGY STORAGE LTD: Portland Port hydrogen storage business gets significant boost in the space of a few days after positive discussions with two of world’s giant trading companies, Japanese Sumitomo, and US ExxonMobil. The countdown to lift off begins …
Why is ocelot unprepared to answer / address the questions /statement from Bull-ish?
Bull-ish,
Re Portland, do you agree that:
1/ UKOG is acting as a catalyst?
2/ in the event of the participation of one or more significant international investor(s) in the project, UKOG is likely to be remunerated for managing the submission to the first hydrogen storage allocation round and the acceleration of its project schedule?