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I’ve been caught out a few years ago with motley fools advice since then I done the opposite to what they say and my pockets have been a lot more happier lol
Absolute zero is -273 degrees C - we’re still a way off that
Cardinal3
While it is no justification believe it or not there are many companies & shareholders in a worse positions & when I look forward I still see plenty of potential for UKOG as we move forward.
Just as one example Hurricane energy who had a market cap of over £1.2 billion is now just £118 million but has about £200 million in debts.
52-wk high 57.56
52-wk low 5.20
Does anyone wish to swap positions or CEO's?
People should understand where the EUA was till mid 2019. Many don't see the value when the things are in exploration mode. 2020 should have been transfermational for UKOG. Covid and other things slowed down. It definitely has good value.
Article from Dec 2019.
https://www.fool.co.uk/investing/2019/12/21/3-reasons-why-id-buy-the-ukog-share-price-for-2020/
3 reasons why I’d buy the UKOG share price for 2020
I turned cautiously bullish on the UKOG (LSE: UKOG) share price in the second half of 2019 as the company’s plan to become one of the UK’s largest onshore oil companies started to gather steam.
And considering the progress the business has made over the past few months, I reckon 2020 could finally be the year that UKOG’s shareholders are rewarded for their patience.
Oil production
Over the past 12 months, it has graduated from being an oil explorer to an oil producer. As my Foolish colleague Alan Oscroft recently noted, total test production was 77,200 barrels in mid-November, and it has risen further since.
While these numbers do not tell us much about daily production volumes, in my opinion, this level of production is still a big deal. UKOG is producing oil and that means the company is also generating revenue. It might not be a huge revenue stream, but the business needs all of the money it can get while it pushes ahead with development plans.
Cash flow
This production has given it some much-needed cash flow. For the six months ended 31 March 2019, the company booked £1.6m of receipts from the sale of test volumes. This helped reduce the overall net cash outflow from investing activities from £5m for the six months ending March 2018 to £1.7m for the 2019 fiscal period.
Since these numbers were published, UKOG has continued to produce and sell oil. Therefore, I expect the company to reveal a big jump in cash flow figures when it reports its final results for the year ended 30 September 2019 next year.
And the company should report further progress in its interim figures for the period up to 31 March 2020.
Financial stability
The third and final reason why I think the UKOG share price could jump in 2020 is the company’s improving financial position. I’ve already covered the firm’s growing cash flows above, and it is also reducing debt.
At the beginning of August, UKOG agreed a £5.5m financing package with Riverfront Global Opportunities PCC Limited and YA II PN Ltd with an interest rate of 0% and maturity date of 16 August 2021. Over the past few weeks, the lenders have been converting sections of the loan into shares, which has reduced the outstanding balance to £3.8m.
Unfortunately, these conversions have diluted existing shareholders, but I think UKOG made the right decision by agreeing to borrow the money on these terms to fund its well development.
Now that cash is flowing into the firm’s bank accounts from oil production, it might be able to agree some funding from a more traditional lender, reducing the risk of further dilution. To do that, the company will first have to pay down the £3.8m liability, but that is already happening.
The bottom line
All in all, 2019 has been a transformational year for UKOG and 2020 could be
Hi wizard
It would be boring but people might prefer to be bored and have money in their pocket rather than in the CEO’s.
Cardinal3
You may be right but time will tell.
If we all believed the same things would it not be a boaring life.
My hope now that UKOG have almost 86% of the Horsehill licences compared to 20% in 2017 is that it will when the CPR is released we will have a value of about 3p but this will probably be affected greatly by the NPV oil price at the time of the CPR release before we move on to other licences.
Wizard
Anyone with zero shares is aligned with shareholders in the same way as SS without the bonus. :)
They may have made the right call.
gkb47
So you think UKOG was worth 11p in 2017?
Lochranzalad
As I said swampy is swampy. So none of your business.
Voting rights dont alter the figures .0.19 from 10p is pretty irrefutable evidence I would say .
Lochranzalad
I'll take it that your mention of 0 is the amount of voting rights that you have then.
None.
Wizard 125 , to quote you ....." this is the first time I have heard from you in the last 3 years " ( unquote ) .... What , in tarnation has that got do with the dire situation that is ukog ? Lol . You sound like my ex headmaster . If you want to believe that all is well in UKOG when the shareprice is .20 of a penny from being at absolute zero then that's up to you .The figures dont lie .Anyone that's been in here for a few years is still here because they simply cannot accept that they have lost money and are simply hanging on for a miracle .Smell the coffee and look at the 3 year demise of UKOG .Not my opinion , there to see in black and white . Whys and wherefore's can be discussed forever .Results and figures ARE the bottom line .
LMAO!
Tymers calling out for posting something which could cause offence.
Too rich.
Well done to Qwerty though, for responding.
I woulda just laughed, considering all the ramping carp that 10p's posted.
That's caused plenty of offence here.
Tymers doesn't seem too bothered.
:D
Tymers - I apologise to you- it was in bad taste if it offended, But in my defence - it’s called British Humour and this genre was created to ridicule wrongs. Look at paintings from the 18th century (Hogarth) that send a message to ‘the powers’ that comedy was needed to expose the political wrong doings....
Qwerty. Not a great reply to someone of Polish origin!! Glh
Qwerty you remind me of SS is so many ways the way you come across
Qwerty59
Maybe if you & Lochranzalad were to able to read & understand all of the company information supplied you might have a understanding of my what the real value of UKOG is.
Beware - rampers have no real knowledge of the company, just have plenty of spare time to copy and paste from google to try and impress.
Lochranzalad
This is the first that I have heard from you in the last 3 years. This imo shows your level of interest so apart from a few words yesterday & today not much.
The key question is your shareholding persentage able to do what you aspire to or not?
Otherwise that is living in denial in my opinion as it would be votes that count to achieve your aims.
I see that Wizard from the ramping crew is taking the high ground again. Added to the rose coloured spectacle list... but, I guess only one of the few that have an average below current price or more probably continuing to ramp to recover big losses ?
Makes it sound as if shareholders are buildings - unusual image conjured up.
The company information is in he company results. If you are in denial that is your business. But for the last 3 years it's been sliding to virtually nothing . There are many holders here lying in ruins .
lochranzalad
By the looks of it that sums up your knowledge of investments, not to mention any specific company information.
Need I say more?
Wizard . Just because I dont post on here often doesnt mean anything in terms of my investment history does it ? Lol . I post when I feel the need if that's ok ? I will tell you what I base my opinions on shall I? In terms of the share price , it was around 10p 3 years ago , and now I can see it at 0.19 p , lol . What does that suggest you ? Oh , and that's not opinion , its fact . The figures dont lie mate . Oh , and before I forget .... UKOG UNITED ..... lol .