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EOGL wrote:-" IMHO the last thing we need is more borrowing from Riverfort/YA.............. PIs would be far better off if the BOD pursued a more conventional equity issue - rights or placing. Furthermore, there is no need whatever to acquire the Alba stake in HH. ............................................."
As a PI I agree on the first one - but I can see why they go the Riverfort route. It's hard to get II to invest when they still have a memory of Lenigas and Angus are just down the road. A new CPR & a Production Licence should help here. Doing a conventional raise from PI's is expensive in money but also in TIME. UKOG don't have many staff and I imagine they'd have to go through a load of hoops withe lawyers and the FCA for a conventional raise - whereas with Riverfort I bet it's a phone call and a couple of emails to raise the cash.
As for Alba - they have no resources - if HHDL want to drill a load of wells Alba will be a drag on the operation. Even now they're taking a slight dilution as they can't/won't cough up for their share of all the costs. Plus there is a definite cost in having Joint Venture partners - they have to be provided with information constantly and a lot of time is spent "managing" them. Once production is underway buying out Alba is the easiest way to increase your production - and cut your costs at the same time - no exploration risk!!
IMHO the last thing we need is more borrowing from Riverfort/YA, and a still greater share overhang. Seems to me that PIs would be far better off if the BOD pursued a more conventional equity issue - rights or placing.
Furthermore, there is no need whatever to acquire the Alba stake in HH. The difference in profitability would be marginal, but a continued share overhang would be bad for current holders and for company reputation. A gift for trolls. GLA
If production predictions all go to plan,UKOG could end up lending money to YA, iol, think news will start at 7.00 am Monday.GLA.
3 million per qtr 4 million left is not 9 months is it wow maths is not you're strongest subject. Bottom line is revenue and with each well this increases thus sp rises my prediction is still 8p by dec 29th close of business glh
Could be the funds have been agreed for Alba buyout of HHDL..
£4M cash plus ukog shares
Red. Please say what you really mean!????
Don't know about any killing, but there will remain funds available on the facility should UKOG choose to use them.
I haven't seen this paragraph from Wed, 7th Aug 2019 07:00, RNS Number : 1643I mentioned on here but if there is any price increase during or after current YA loan is paid this looks like it will bring it back down:
'This Loan agreement also provides for further funding on the same terms of between £3.6 million and £4.5 million dependent on the operational performance of the Horse Hill asset.'
I read this as if the share price increases and UKOG need more funds YA stand to make a killing..Or am I just reading this wrong ?!?
Philbatch - I tend to agree.
A lot of folks are getting excited over a potential re-pricing upwards.
I'm all in favour of that (as well as further buying opportunities), and also believe that there is a chance for a dramatic long-term profit.
But it's the timings I still have issue with.
Only opinions (or we'd already all be billionaires) but mine is that we'll be at or around the same level through xmas, although I am anticipating that the oil sector generally will be up.
:)
@philbatch
Let’s see just how wrong you are in 31st Dec.
My view is that you’ll be VERY wrong, very, very wrong indeed.
Embarrassingly wrong even.
Cheers
Red
Mr Cautious. Ha ha what a name for an idiot who is still invested in Quindel. Would not touch them with a barge pole. o dear you can’t anyway they don’t exist. Ouch.
Thanks tkr234, I know I shouldn't react to people like that. There's just been so much effort been put into this by so many people. Glad that SS is a calm and rational sort of CEO, looking forward to him hitting the target. GL.
JCWs, I Really had respect to them, but after recent comments that has gone,why are we here ? to try and progress,why do some posters bad mouth a share they are not invested in, FFS you 2 get a life and post where you are invested. JCWs we will not need a scatter gun SS will shoot them out of the sky.GLA
Anyone got a scatter gun I can borrow?
Agree here phil -- it seems the company could stab their grannies and they would still think its great --- touch with bargepole only if you have any sense.
Philbatch,looking at the performance where you claim to be invested,you must be in one of the biggest dreamers of all,but good luck to you for the future,never wish any one losses where they are invested is my forte.GLA.
Great, I'm quite confident with my prediction following UKOG's progress and reports this week.
Just need to market to wake up to this transforming stock now :-)
Have a good weekend LTH's and new investors!!!
Entry Now Closed Good Luck On Your Predictions Entries !!!)
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