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i think a piece of toilet roll covered in ****e is worth more than the shares here
52 Week Low 0.00615
52 Week Low Date 27-Feb-2024
i would have prefered to shower under ****e than lose 100k to these muppets, i hate this board more than you can imagine!!
Failure after failure after failure with this lot. Would the bod's like to update us like today and tell us where what and if anything at all in this company is making any money or are the shares even less valuable than a roll of toilet paper? Just asking the question. Shame on them!
Ocelot,
the EBT overpaid by at least £60,000 in the first place because UKOG couldn't issue shares for less than 0.01p.
I wonder if they could swap them for 300,000 shares they can issue at 0.0000001p (think that's the right number of noughts) which will reduce the cost to £30 from £300,000 - certainly illustrates how far down they can take the SP following the GM.
As we all know, this has precisely nothing to do with Sando increasing any trust for the benefit of employees - and everything to do with him making sure he's got another 10% of votes available which he can then use to pass whatever resolutions are needed to keep his farcical and utterly unjustified salary paid for just a little bit longer.
Talk about being very handsomely rewarded for the nigh on utter destruction of shareholder value... must be nice work, provided that one's got absolutely zero sense of shame or ethics.
Thank you, deltavegatheta.
At 0.0065p, the Trustees' immediate loss is about £105k.
I found this notice confirming that 3 billion new shares were admitted this morning:
https://www.londonstockexchange.com/news-article/market-news/aim-notice-27-02-2024/16350607
I remember from years ago someone on the council planning committee suggesting that UKOG should have to ring fence £5m to cover the cost of decommissioning, she got shot down.
One problem UKOG now have is that when the consolidation and lowering of the nominal value was announced the authority for additional shares was about sufficient to service the loan notes that were still outstanding.
Whilst UKOG haven't mentioned whether they have taken the two extra tranches of £500,000 each assuming they have loan notes totaling about £1.66mm awaiting conversion - though it is suspicious that shares are being supplied at the end of the day to cover buys by someone .
Assuming the consolidation, nominal value change and the authority to issue £1,476.75 of extra shares (at the new nominal value) are approved by the trustees (for it's those votes that will decide) then they have authority to issue 1,476,750,000 'new' shares. But the number required to cover the CLN at even a 0.07p vwap (post consolidation SP) is about 2,371,000,000 or about 70% more shares (of nearly 3.3billion) and of course the 1.47675 billion is now only about 45% extra shares - a silver lining in the gloom!.
Do you guys remember SS favour words few yrs ago on every RNS - "national significance" "national security"!
Do you remember pictures of oil samples from BB on twitter!
Know ask yourself:
Do you remember how you invest money in this Ponzi company?
In USA SSand UKOG would be investigate by SEC "big time"
SS will use every penny in the bank account to pay his salary to the point where it reaches £0.00.
He will not care about the legal obligations to P&A Broadford Bridge, he will not care about HH.
Once the company folds, the administrators will sell off HH to the best offer, there will not be many! What happens to the proceeds? Well, if HH is sold for £1, then not much. If it is sold for £250k, then that surely has to be put toward P&A of BB.
I would hope that Angus buys HH, and runs it as a skeleton operation. There is oil there, and that water injector should mean that a meagre operating profit can be made. But let's not beat about the busy, HH is a maximum 5 year operation. The P&A costs will be significant.
Is the kit at HH worth much? Well not a great deal, but maybe of use to Angus going forward.
Come on ...it has ONLY lost 99.95% if you only go back 5 years ......
0.0066 GBX
-1,130.35 (-100.00%)all time - this is how much this company is worth , nothing!!!!, i know few people who lost more than 100k in this company, i ve lost aprox 27k!!! FCA need to investigate this company ASAP!!
100% down according to google -
Sandrson...should have booted him out long 4 yrs ago.
Since Bradford Bridge flop ...failure after failure - there is no positive news about UKOG, people lost there money that is a reality (millions),
People who think this company will rise from the ashes need to see doctor ASAP.
This is the end !!!
This was my worst investment ever - to all Pi: do not buy more shares , your money will only go to one place... SS pocket.
This company is the best example how PONZI company looks like!!!
PONZI SCHEME
Where is FCA for f...sake
Want to know what beholds UKOG if consolidation is approved? What is there to look forward to? Look no further than UOG.
Down -38.57%. If you are not wiped out yet. If consolidation goes through you will be. Not much will be raised if they do dilute. They they would have to issued more billions to raise £1,000,000. That would last 3 months at best and would not be the last. Before long UKOG will have to do another consolidation and rinse and repeat. Put the company to sleep and wind it up. It will eventually be in administration anyway. Call it a day now. VOTE no.
Back in 2018 the fools on this board used to have a fun game trying to predict UKOG closing price at the emd of each week.
Let's start a new tradition and let's try to predict the week in which the trading in this share gets halted ?
At this rate I predict w/c 18th of March 2024. Any other takes ?
Winner gets 1 UKOG share.
0.0065p
No doubt some will be still buying.
Market cap is now sub £2million. The company will need to raise circa £3m to cover its basic admin before they think of funding any new drills.
Those numbers begin to give everyone a clue to the scale of fundraising to come and the number of new shares required.
It shows an awful direction of travel.
Why do people keep buying into this company? For years they have kept this company going with disingenuous nonsense - the latest being pin1? The bod's just keep going with ever bigger fairy stories. I am totally wiped out! I am wondering when administration will come to this junk share?
"Can they afford clean up and restoration of BB/HH?"
More pressing is can they get the accounts signed off in near future with a declaration that UKOG is going concern?
Can they demonstrate they have sufficient capital for next 12 months?
Basic admin , including paying wages , is a lot .
Accounts for year ending 30.09.2022
"Administration expenses during the year amounted to £2.7 million (2021: £2.1 million). An Operating loss for the year of £5.4 million was recorded (2021: £3.8 million). Finance costs amounted to £0.2 million (2021: £0.1 million), relating primarily to unwinding of discounts on decommissioning provisions."
If anyone wants to see what UKOG will look the day after details of the fund raising are announced, just take a look at UOG today, down 40%!
If you don’t take note, close your eyes and hold, then I’m afraid you deserve what you will get left with (spoiler: not a lot)
No, not without another raise
Can they afford clean up and restoration of BB/HH?
Jlove.
Yes it looks like part of the fundraise will cover the cost to purchase 3 Billion shares which are then used to vote through the consolidation vote. It is like musical chairs. But all legal in the world of AIM. It is the reason why companies listing. Listing is a place when they issue and continue to issue shares until they are forced to consolidate. Then rinse and repeat until the Pi bite the bullet and say no to fundraising. All Pi in here are wiped out. Why vote for more wipe out? Wind the company up and vote NO. Not that you can win. Just expect consolidation and dilution and further wipe out. God knows eventually Pi build up enough guts and say no more. And end it. Call in the administrators.
Have they said where they got the money to loan to the EBT to buy the shares?
Or will the next fundraise be to pay off the money they borrowed to do it?