Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Listen to FOTH at your peril, he is just a wannabe trader that will post anything that he thinks will help him trade, he is very seldom correct if ever, He was involved in the tanker tricks fiascos, and the secret pipeline, he’s just in it for a pump and dump, he will turn on his friends at the drop of a hat, I wonder how many unsuspecting investors he has encouraged to invest in this ever fading company over the years, with promises of double bags and riches, only for the sp to continue to drop in an alarming manner…
Just fed up with my posts disappearing when admin get rid of you and sometimes delete whole threads.
On the other hand yours are often so embarrassingly wrong I guess you're happy to have them deleted regularly.
I might point out that the Surrey planning committee ignored the planners recommendation for Loxley, but all they're allowed to do under the planning permission they've sought is to retain it for restoration, if UKOG want to drill they've got to apply for it. Though I did think the council should require a bond for restoration as UKOG's finances are so fragile.
Funny how you come up with these little srories about how soeone else feels - spitting feathers, ha ha but I just think it's a waste of time, and already explained why - but I suspect UKOG can retain some of the expenditure as intangible 'assets', and it's a bone they can throw the punters when they need a list of how busy they are.
'Funny how derampers like this Caracter Penguins with their over inflated ego think people should believe their mostly guess work posts on here. Crazy.'
Pity you didn't notice 'character'
But I don't care about spelling.
Ego? But you seem to think you have a right to post on a board you're permanently banned from, and btw you're only mentioned on this board because of your ridiculous posts need to be challenged.
Still what more is expected from a trader who lies about being a genuine investor having bought £5,000 worth a few weeks ago for 00074p / 0.0075p so it's understandable why you're desperately trying to big up UKOG when they've just asked to issue 50% more sharess - and insults other posters because in the fantasy world you inhabit you 'win' an argument by making up more stories, this time about other posters, not putting forward any reasoned argument - just hope and UKOG PR which has turned out to be so accurate so far.
As for BB - if after hundreds of feet of core, a full logging suit and testing the s**t out of the every Kimmeridge limestone for months they haven't already decided to redrill BB they aren't d waiting for information from HH and Loxley - it's just a ruse to avoid the cost of reinstating the site.
Adrian,
your 'facts' are as believable as your fairy tales about TW.
But I have posted before that the high risk of failure at HH and Loxley means a farmin is a good deal for UKOG - but it doesn't change the likelihood of success, nor that UKOG shelled out a fortune for the equity in HHDL and the licence.
If HH was as good as you seem to think UKOG allowing the share price to collapse while having an asset that could have prevented that happening is a pretty dumb thing to do.
Actions not words tell the true story.
But now we're in the end game for UKOG with not enough cash and no means of raising enough to drill they need a farminee as desperate as they are for just a hydrocarbon show, rather than an economic success, knowing that it takes a while for failure to become apparent - HH-2z, BB and Pinarova being prime examples with months of testing or waiting between drilling with initial results and failing. The only exception being HH-1 where it took a short while for water and decline to be revealed, and Basur where they drilled in the wrong place.
But according to you UKOG will 'no doubt convert oven ready already drilled well HH2/z in to a water injector.' Exactly, and a saving, according to UKOG, of £250,000 a year. They've been claiming they would do it for at least 2 years, and you've been tweetig as if it will happen soon for even longer.
The Fool on The Hill@davethedrill1
'Jan 20, 2021
#ukog I'm guessing a placing of 8 to 10 £million @.10 to cover Wages. The Turkey shoot and a water injector at Horsehill to try and make HH commercial again.'
I don't believe it's because of Finch, there's something else - is it a technical problem, injecting into a fractured reservoir with a limited thickness of reservoir quality sand - or economic, it might not save enough to recover its cost - or both.
You're welcome...
Yawn,
Maybe TW keeps getting it wrong, but then so do you
I suppose it depends whether, like some, you believe that the reason UKOG has done nothing except for workovers of HH-1 for 4 years is because of the legal challenge or that the extensive testing, result of HH-2/z and the decline in production of HH-1 has indicated that the risk of drilling a Portland dud is high - and not getting a CPR done, something that enables 'booking' reserves but has to be published, allows UKOG to avoid any published audit of Horse Hill. Also companies usually farm out their riskier projects, not appraisal or development wells.
But before any well is drilled there's 3D to acquire, and that could, like the 2 phases of seismic in Turkey destroy the updip target for HH-3. Without extra sesimic the HH-2z target was mapped as being updip to HH-1 but was in fact downdip.
UKOG are now depending on others to advance any of the projects, except maybe in Turkey - although the way ahead there is unclear after the failure of Basur and Pinarova.
PPPs farm in to HH must be in question with silence for 3 months about the workovers of the 2 Chalk Talk wells.
The Loxley challenge was defeated in early January, no news of any progress on the farm out since the 'pre-planned' farm out was initiated in July 2022 - maybe if potential farminees have spotted the obvious errors, suspect assumptions and meddling by UKOG in the 2023 CPR it has highlighted that Loxley is a high risk well.
and of course UKOG's latest money pit, the Portland gas storage project, is swallowing the cash in the hope of getting government support.
The fact is that UKOG plan a lot, claim a lot, and fail to execute plans but as far as claims the only success HH-1 has not lived up to expectations with dire decline, water ingress in a few months, which with the results of HH-2z means any further drilling is risky - hence trying to get a farminee - handing over costly equity for an uplift of £2.4mm for 49% of non HH-1 future production.
Now, now Penguins.
You know that using things like facts, logic and experience to show he is talking nonsense just get that complete waste of skin annoyed..
The extension of planning permission doesn't permit any drilling, or anything else except site restoration.
If UKOG thought the the extensive core acquired, logging or long term testing (the report is available on the BGS site and is sorry reading) indicated that further drilling was justified why wouldn't they have applied to do that that instead of farming in to Turkey which despite their claims would have been at best, based on the nearby lookalike E Sadak field, similar to Hoerse Hill-1.
UKOG's claim that further work at Loxley 17km away and Horse Hill, much further away and the other side of the Weald Basin, would have any bearing on their understanding of the Kimmeridge at BB was complete BS.
Looks like just a way of avoiding the cost of abandoning the well and restoring the site while UKOG thinks up further ways to tempt the foolish into buying their shares.
At the moment that seems to be to make them ever cheaper by promising success and achieving failure, meanwhile issuing ever more shares. Unfortunately the promises of success ever more dependant on others coming to the rescue, be it PPP, the UK Government or someone to farm into Loxley.
UKOG had the confetti machine running so fast they ran out of authority to print more, had to ask to print more, got refused and came up with a cunning plan for the BoD to be able to outvote the shareholders that voted over a billion shares that against the resolutions.
What a load of garbage, everyone knows that BB will be plugged and abandoned with a recommendation of full restoration of the site, but unfortunately ukog can’t afford it so spinning the fairytale a bit longer, BB is non commercial and has already had millions spent to prove otherwise, BB is like the rest of ukog, a complete failure, let’s get behind North Sea oil, there’s still plenty of the black stuff left down there…
The author, the council’s head of planning services, Michael Elkington, accepted that:
“The proposals would result in the continued retention of a site of an industrial character not wholly in keeping with its countryside location for a further two-years.”
But he said the site was not in a protected landscape, was “well-screened from public views” and was “temporary in nature”. He said “the potential for any negative impact on landscape character is largely limited”.
He also recommended that UKOG should be allowed to keep fencing, gates and cabins at Broadford Bridge until March 2026.
Mr Elkington said drilling and well testing at Broadford Bridge had been completed and no physical work was planned during the time extension, apart from plugging the well and restoring the site at the end of the two years. He said:
“The applications for an extension of time to enable further detailed evaluation/appraisal of the hydrocarbon resource are considered justified and would not give rise to unacceptable impacts on people or the environment.”
There would be no change to the scheme, he said, “rather a delay as to when it would be carried out”.
So that is £10m+ down the swanny.
The subject was green energy. And those in the meeting were a man who has destroyed 99.99% of shareholder value and a woman whose party will get wiped out at the next election. All the winners in one place.
Same message as yesterday evening, this time with a photo of Claire Coutinho, the Secretary of State.
Ibug, the hydrogen storage is the last hoorah for SS, he has nothing else to pump and he needs something to help try and attract a new finance partner into helping them with a cash raise. Unfortunately for Sando, there is nothing that UKOG will be able to do to pump the hydrogen storage narrative; they are flat broke and outta time, and there's no way the Tory gov are going to throw any money at UKOG, especially with Labour ready to take power at the next GE.
Sando wants another 12 months salary, and he'll spin any jackanory he can to get that funding. Of course he knows that means that another load of PI's will get spiked and end up on a huge loss as will existing PI's who hold this dog at 0.07p.
And that says it all, he will rob PI's to pay his own salary, find me a decent honest CEO that would operate like that!!! And then tell me why the BoD have not booted him out!!!
Will not go anywhere until new funding has been agreed
Has it reached Zero yet? Can't be too far off.
UKOG
@UKOGlistedonAIM
·
46m
UK ENERGY STORAGE LTD: Stephen Sanderson enjoyed a positive meeting with Energy Secretary of State Claire Coutinho. “She was very supportive of our hydrogen storage project at Portland in Dorset,” said CEO Sanderson. #renewables #cleanenergy #energy
UKOG
@UKOGlistedonAIM
·
16h
UK ENERGY STORAGE LTD: Stephen Sanderson enjoyed a positive meeting with Energy Secretary of State Claire Coutinho. “She was very supportive of our hydrogen storage project at Portland in Dorset,” said CEO Sanderson. #renewables #cleanenergy #energy
Paraphrased the 23 January RNS, this is what was written about the £0.66mm due to YA Riverfort:-
Conversion of these Equity Shares by the Investors now reduces the balance of the £2 million gross first cash sum received to approximately £0.66 million.
Maybe the description of what this conversion has done to 'the balance of the £2 million gross first cash sum' isn't important - but to me this is part of the craft of RNS writing - keeping on the right side of honesty whilst not telling the whole story - I would assume that with a 'first cash sum' there's at least another, and further cash sums were supposedly 'committed'.
I'm surprised ocelot didn't quote the RNS, I wonder why?
Ocelot will still be saying UKOG is a strong buy with a bright future when the administrators are called in. Not once has he ever called out a negative about the company. Now who would only ever see the positives? Yep, must be paid or staff. Probably SS. I'd love LSE to be forced into giving up email addresses and then those being tracked to the individuals at play, there's a lot of illegal and immoral stuff going on with this company and the scammers should be outted.
As ocelot referred to market cap.
When the SP was around 0.0504p (August 2023) there were around 22.4 billion shares so the mcap was over £11mm, the last conversion was ar 0.0175p (January 2024) with just under 30 billion shares in issue so the mcap was just over £5mm.
Now with another raise, Pinarova failure, first GM fiasco, EBT 'purchase', and the subsequent GM rigged vote the mcap is a bit over £2mm.
The extra shares issued has meant that the mcap percentage drop isn't as brutal as the SP drop - but the SP is what pi buy and sell at.
Ocelot
100 trades so far today. Must be some sort of record or something of note for you to make. Looks like the wheels are coming off your bus as reality hits home.
https://www.youtube.com/watch?v=e_04ZrNroTo
'It is in the interests of RiverFort/YA that UKOG succeeds in getting its market cap up.'
Of course it's absolute nonsense. They certainly tried really hard with the 4 conversions for £1,34mm RNS'd so far. First was at 0.0504p (not much less than the price after consolidation) before the end of August last year, then 0.025p, then 0.022p and finally on 23 January at 0.0175p when they soaked up the re aider of shares UKOG could issue - which must have triggered the need for the GM.
In fact to guarantee getting a good return the MO appears to be sell so the price drops and then declare the vwap at the lowered SP. Impossible according to the agreement but someone is selling large volumes of shares prior to the declared vwap - and if they really got all the shares when the vwap appears to relate to they would have lost money.
Then there's uncertainty whether UKOG took the 2 additional 'committed' tranches of £500,000, no reason to not to take the first tranche due in November, and perhaps the raise in January of £750,000 was so both parties could agreed the second £500,000 wasn't taken - or maybe UKOG forced their hand by the raise.
So the £0.66mm could easily be £1.16mm or more than 50% of UKOG's mcap - and whilst the agreement restricts conversion to 20% of the previous calendar month's volume does anyone believe, like the forward selling restriction, there aren't ways to get around the 'rules'. Maybe there's a belatedly RNS'd conversion to come? The upside would be those shares will almost certainly have bee sold by the time they're RNS'd.
The big players taking part today.
https://www.lse.co.uk/ShareTrades.html?shareprice=UKOG&share=Uk-Oil--Gas
What a joke this share is.
Adrian
You can't even get your story right. First you said bought at 0.0074 on Friday. Yesterday you said 0.0075 ish and yet there were no buys at that price around or before you posted. If you are going to tell stories at least do a bit of research on what the SP actually is.
Ocelot
Absolute rubbish. You have no idea of how "death spiral" finance works do you?
Or it might means that they will not convert all at once and will dump any converted shares faster than Admin dump new accounts from Adrian. Surely postalot is not so thick that he does not know that... So why is he posting misinformation?