The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Also this:
If Europe fails to deliver a comprehensive solution for its citizens facing financial stress, the impact on the continent's social fabric will be enormous, Maria Tadeo writes. And that will feed right into the hands of Russian propagandists, who would love nothing more than to divide the bloc over how firmly it must respond to Moscow's invasion of Ukraine.
Putin seems to have the upper hand in the economic war against the EU and Europe.
From Bloomberg's round-up of morning news:
The energy crisis may have a worse impact on UK households than the 2008 financial meltdown, consultants Baringa Partners said. British companies will have to pay more than four times the 2020 price when they renegotiate contracts in October, the FT reported, citing Cornwall Insight. And the €280 billion euros of aid set aside by European politicians risks being dwarfed by the scale of the crisis.
National Grid warns of three-year energy crisis as emergency effort launched to cut factory power use (headline of Daily Telegraph article, I don't subscribe).
I want to know also the truth concerning HH. It has cost the company an absolute fortune. Silent Steve has done absolutely nothing successful ever and has made no attempt to carry out a successful excercise for the year of 2022. How does he get away with it is beyond me. He has Turkey and Loxley in the pipeline but no finance to do anything about it. He is praying for a Loxley farm in but only the likes of himself would pay for this opertunity. At a grand a day he sucks ever penny from the coffers as he drives around in his Range Rover enjoying his summer. All this while ignoring shareholder value as he flips the latest batch of forward sold placing shares for his inner circle of financers. It needs to be stated transparently what how this man has been performing for years now. Look at the share price. If it drops anymore it will extinguish like the barely flickering candle that it is now. Disgraceful leadership qualities but fact. I don't think I will ever see my exit here any lingering today's AIM market. Best I can hope for is for him to resign. I live in hope.
It's a dramatic situation and most unfortunate it should coincide with the present vacuum of oil at the centre of the Gatwick Gusher in the UK
PS: I think it is clear, the big suppliers of energy to households are seriously concerned about the level of bad debt they are beginning to confront.
CEO of Scottish Power is suggesting a scheme to freeze the energy cap for a couple of years. Estimated (or guesstimated?) cost to the government: £100bn. This is about 50% more than the cost of Rishi Sunak's furlough scheme.
It's a dramatic situation and most unfortunate it should coincide with the present vacuum at the centre of government in the UK.
Wow , the price of Nat gas .
PS: Sir John Redwood may return to government if Liz Truss becomes the next PM.
Every action needs to be taken by the industry and government to produce more UK gas. It is the gas shortage that is now doing most damage.
https://twitter.com/johnredwood/status/1561978926502711297?t=9NbuXULhysAslGOWgZQzBA&s=19
Thanks to Lemonleaf on the Angus board.
Ocelot on his daily mission of trawling the internet and posting what he finds about anything. - no relevance to UKOG - what a waste of precious time in your later years, that could be counter productive to one’s health.
Production figures for Loxley and the value it will bring to UKOG in the next 5 years.
Loxley production 2022 = 0
Loxley production 2023 = 0
Loxley production 2024 = 0
Loxley production 2025 = 0
Loxley production 2026 = 0
... The cost of wholesale UK gas saw a major rally on Monday, driven by new fears about Russia cutting supply further through the Nord Stream pipeline. Gas prices jumped 23% to 568 pence per therm, more than 10 times the average over the past four years.
At these prices, it’s uneconomical for many heavy users to bother manufacturing anything. Smelters in the rest of Europe have already been halted because of high energy prices and one has been shut for good.
https://www.bloomberg.com/news/articles/2022-08-23/uk-had-early-warning-but-still-faces-industry-crisis-over-energy?cmpid=BBD082322_CEU&utm_medium=email&utm_source=newsletter&utm_term=220823&utm_campaign=closeeurope&sref=Em01M8Hr
ells_valexpert just let go.
Summer doldrums or SS incompetence????
Multiply whatever that is by £0.0008375 and in terms of value where does that place UKOG's performance today - few more than 100 AZN shares?
Includes just under 9 million shares traded at 0.083p - placing shares still being dumped?
And 1 sell accounts for over 50% of it.
5th biggest volume stock on the market, according to a rival site. Summer doldrums.
Cheapest price I have ever seen
News please
Heading to below 0.08
FT Inflation
https://www.ft.com/content/778e65e1-6ec5-4fd7-98d5-9d701eb29567
Article includes a table showing the UK's limited gas storage capacity by comparison to some other European countries:
https://www.bbc.co.uk/news/uk-politics-62604653
"ells_valexpert
Posted in: UKOG 28 Jul 2022 11:34
Posts: 152
Price: 0.093
No Opinion
Capitulation
Funds secured for working capital. 52 week lows. Double bottom. This is a buy in my eyes. Sanderson has been loading £1000 per month since 2021. Green thermal hub expansion in place ready for government approval. Like, what more do investors want!"
Nuff said.
Ocelot continually posts about high gas prices; fro example;
"Winter 23 natural gas is at 679p."
Simple questions; why is Sanderson dragging his feet over a Loxley drill?
Why is he trying to farm out which would give away a huge chunk of its potential value?
Didn't he want to keep the 'riches' all for UKOG?
Answer; He has more doubts about the £7m drill and its chances than he is letting on.
UKOG's RNS announcing the plan to try and farm out did use the word "uncertainty"
All the money spent arguing the case and now nothing but the hope someone will take UKOG's data at face value and gamble in Loxley.
Seen it all before. There are other companies with better PROVEN assets who can not attract farmins. I think Loxley will never be drilled.
Sanderson would rather spend millions planning a lunatic BILLION pound gas storage pipe dream than gamble on Loxley coming good.
I think the last time I posted a "sell" opinion was with XEL before their demise.
How'd you really feel?
;)
Sanderson can't do anything as quickly as his mad-ramping-supporters make out.
First he has to go through various appeals (getting a positive outcome), then raise more cash to replace all the money he's using for salaries and various crazy pie-in-the-sky schemes he's begun elsewhere (Turkey).
By the time the next phases are ready* he'll need more cash and thus more placings.
There's still a shedload to go through before he can begin much of anything.
I am generally negative on this now (95%) but even I wonder how he's getting away with this.
Sandercon's plainly a much better salesman than I or anyone has given him credit for, to pull the wool over so many people's eyes after all this time and keep it going.
Horsehill; Loxley; Turkey; they're all years away from anything to turn the drain around and be worth a smile.
Then he'll have to pay back a lot of debts before shareholders get to see anything if he does turn it around.