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Https://drillordrop.com/2024/02/26/perenco-confirms-potential-decommissioning-of-wytch-farm-by-2037/
"downward pressure should be relieved."
I think UKOG have fixed the GM meeting with the 3 Billion share issue which they must have calculated as the number of votes they needed to win.
Most think Supreme court will not go against UKOG
The BIG problem is the amount of cash UKOG needs to raise. They need circa £3m for the next 12 months admin alone. To finance operations like another 5th rate Turkish drill; UKOG will need much more on top.
I reckon if UKOG had the authority to issue shares with a 20% discount; never mind consolidation, say they had authority already; they would have to issue 75 Billion more shares. Do the maths ; 33 billion shares are now priced around 0.0065 ; market cap now circa £1.95m. To raise circa £4m they will have to issue at least 75 Billion more shares.
It does depend also on just how much cash UKOG has now, BUT, we do know they need cash "in the near future" for working capital.
Its obvious that the value of each shareholders equity is going to be decimated.
Insidious when the rats leave the ship people still want to find the rats.
How’s your last trade going ?
In 'the very short term' - do you define that as the few days it could take to start issuing more shares?
1/ the result of the GM; 2/ the Supreme court judgement.
If either goes against UKOG, then there is a very real problem.
If both go UKOG's way, then, at least in the very short term, some of the downward pressure should be relieved.
Rich3648
Posts: 1,947
Price: 0.0066
RE: So SadToday 17:40
Insidious i’ve made so much money the last 12 months out of crypto my losses here mean nothing.
So stop crying about your loss here then and move on....
Bumdebum - What a Troll you are, trawling through my posts history. Really have no life...
Have you nothing better to do with your time...
You bought in after the peak?
Have you ever done anything in the market yourself, bumdebum?
Soon. S. S will become shoes polishers in the streets
You will be able to buy the whole company for a fiver, and when I do SS is going to polish my shoes for 50pence
Insidious i’ve made so much money the last 12 months out of crypto my losses here mean nothing. How’s your udog profit captain muppet? What’s the word on the street, buy, strong buy 😂😂 you are top of the tree with trollspunker as top ramper muppets.
You have been crying everyday for the last few years about your loss, leave trading to the grown ups...
Insidious you are one saddo period.
Why do you post here all the time after all your massive losses ?
Is it a good time to buy now mr expert 😂😂
Go find hied and trollspunker and have a ramping orgy.
Most of the posters here do not believe in this company but yet still they live on this BB 24/7...
Looking at their posting history they never post anywhere else...go figure...
Depends on whether ss can convince anyone to finance his next unlikely project and keep him employed for another year or two. Most people know that Portland stone is extremely expensive to work on and that storage project will be hugely un economic compared to others being touted around but you never know who might fall for it , with this company's track record . lol.
The board of UKOG cannot rob much more from this scam
Just hope that they are really due
a prison sentence!
He really did not see it coming.
"tkr234. I hope not..been in this share since the dinosaurs so I’m looking for at least 10p..."
I thought this was his best post.
"I watched it hit 10p and greed got the better of me....gutted i never hit the sell button..."
Insidious the attempted false hope that you have given fellow investors is nothing short of criminal… 2p/5p continually predicted as the sp goes into free fall…
Does anyone feel sorry for FOTH? Throwing another 5k in here last week (if you can believe him)
.
.
Dilution nearly here will salaries be diluted as well . One share Rubicon/Fast Jet delisted a whlle back , it is a private company now . A well known figure with links to this company was involved there. Beware. Others with a similar pattern Context Logic & Sonder on US listings are worth checking even although they have recovered slightly.
"The Company has entered into a loan agreement with the Trustees to fund the subscription of the EBT Shares by the Trustees."
I'd like to know how that loan agreement will show in UKOG's accounts.