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Maybe, although I find it interesting that AME have chosen to derisk their exposure to non-payment by using Oceamec instead of their own Rig.
Time will tell!
And I note that the RNS still 'neglected' to mention that the original Basur test was cut short because it started producing water. The huge technology advances in the last 50 years will not change that.
ZYX098
You definitely look behind the curve now for all your stated knowledge and experience
There will be a few scrambling to catch up now don't you think?
Wizard 125,
And your question will never be answered.
People in my position have to be very careful about what they reveal on websites like this. We have no wish to wake up one morning to find our house daubed with paint or car vandalised by one of the more evangelical eco-warriors.
Wiz, you "lose" money by selling your shares for a lower value than you bought.
Until you sell and "realise" a loss (or a profit), your shares may drop in value, but you have not "lost" money.
I too have had to 'sit' on shares here to avoid a loss while their value fell (after my original successes).
But then I started using the falls in reverse of what I did four years ago to recoup the losses.
That was 50% of my original profits, which I had to 'trade' back up over the last two years.
I posted most of what I was doing at the time, not all - at the request of some on the day.
Disappointed to hear that from you Qwerty.
Whenever I post about that, I have posted exactly the same numbers, only (slightly) updating with time* (*I've made much more here since although not with as big margins, nor as quickly as I did then).
As when I first posted here, I posed because many (most at that time) were decrying the potential of trading.
I had already made that much by then and was looking for info., merely wishing to point out that trading (flipping really) was possible and had reeled in bigger rewards than long-term strategies.
If any of what I've said has coe across as bragging, it was not meant to and is probably due to my own inability to deal with the surprise of my own success with it.
It was not in my armour when I began but, even though well above 95% of my portfolio is Long-term, I have still achieved my biggest returns (and one biggest loss) from flipping shares.
Particularly UKOG, but also BP; AVCT; PRSM; FEVR; and some smaller US companies.
I had an 'accidental' success with BP slightly before I arrived at UKOG and bought into UKOG without intending to trade at all.
But I don't like quick rises / falls in any of my holdings and am not averse to selling quickly to bank a big rise or avoid a large fall.
I did that with BP and wondered if I could turn that experience into a strategy.
I would point out to all everyone pretending to be an "LTH" here, there is no dividend.
The only way toy make profit from UKOG is to Buy and then Sell at a higher price.
Whether you do that in a day or ten years, you're still trading that share.
I still approve of any means to make a profit, here or elsewhere, and try to help when I can.
But Geeze!
The IQ on this board falls day by day.
:)
I agree with you Wizard - I remember when Skwizz first popped up here, quiet at first, but has since grown into a bit of a ‘bragger’, claiming he has made thousands of pounds. It’s now become a bit unbelievable (the same who post, how many millions they hold and are ready to buy more). If only they could substantiate their claims, then they would earn credence. I could claim that I was the person that had every buy today… it’s all rubbish, ee all know who the fakers are here and I am amused that they wish to have followers and believers. FYI, I still have my worthless 150k left over when I was lucky to sell a few grands worth at 1.2p (yes, they were once worth that), but all of the trading that I used to do ended up with a loss of about £40. I only hold now so that I can be a legitimate poster.
skwizz
While I am sure this is not the first time or will it be the last that we have have this conversation.
You say you are not a trader but freely admit to trading UKOG & making huge profits, which is the true statement?
While I am not unhappy at your success. Are you telling me that you are really as naïve as try and tell anyone that in making all your profits from trading here that other shareholders are not likely to have lost money as you made yours as the market is about winners & losers?
While I am in for my reasons, when you constantly come on here telling everyone of how successful you have been banking 10,000% profits would you understand that some people especially those who have lost money may see it as gloating?
There have been people on here who have been declared shorters like the famed seadoc.
Its not possible for everyone to win & some will be happy with there successes which are only possible from someone else's losses, living in denial of the facts is only burying your head in the sand!
Gl.
Nice to see someone declaring an open agenda here. It's so much less tiresome.
Fact is that like almost all AIM smallcap oilers, UKOG was never going to be a long-term value play. There is money to be made on such companies, but only if one's going to bother short-term trading the living bejaysus out of them.
I am committed to my family, friends and profit.
You're quite correct though, in that I have zero commitment to UKOG.
You're incorrect in calling me a trader.
I'm an LTH; Just not with UKOG.
There has been no LTH profit in UKOG.
Overall I've banked 10,000% profit by trading it, as opposed to just 300% from the 11p spike.
Regardless of views I wish you and everyone else good profits, however you choose to make them (as long as you're not mis-leading others).
Hoping that someone else doesn't make profit just because they hold different views to you is a special kind of low.
I believe a mop n bucket was involved
Oofy pro, yes you are proving the point of " no common sense " i said......I worked with the aforementioned person.......in management.......nil desperandum.....Mr Quisling
zyx098
In the industry I had no doubt but in what capacity & with what knowledge & experience was!
My question still not answered?
Ozzy: my iPad must be playing up, it says on here that you “had the honour of working with a chap who was educated at Eton”. Please correct me if I’m wrong. If, however, this is correct, you are a pre-eminent forelock tugger with the serf mentality ideally suited to a mug punter.
i don't stammer, it's the gremlins having fun, they're cousins of the trolls
H.I.T.S unfortunately you are are a almost certainly correct, although if it did.......whoopee
Wizard,
If you had been paying attention to my previous postings, you surely would have realised that I actually work in the industry and have done so for many, many years.
So are my thoughts on the contract 'speculation'?
Yes.
Is it 'well informed speculation' based on years of experience?
Yes.
But if you wish to take some keyboard evangelical rampers speculation as having the same weight as mine, that's entirely your choice.
For all the backtracking being frantically attempted here, can we take it as read that, despite the earlier (and frankly, bizarre) post, UKOG's imminent placing is really not going to take place at a price of 3p, utterly regardless of whether we know details of any contractual documentation or not?
It's just a tad unlikely that any imminent placing is going to be offered out at 16 times the current mid price.
Oofy pro, as you are obviously don't understand, your opinion is not up to the required standard, i said i worked "with" the aforementioned person...... Mr.Quisling
zyx098
Thank you for you honest concession that you are unaware of the terms & conditions of the ukog contract with AME & despite your suspicions & some previous experiences ( No explained or quantified ) are only speculating as is everyone else.
Ozzy: I didn’t think you were very smart but I hadn’t got you down as a forelock-tugger. Sweet that you know your place, though. Floreat Etona. As they say over at Angus Energy.
The facts remain that:
1/ there is a well to be drilled; and
2/ UKOG continues to give the impression it is in no great hurry to raise new funds.
Future performance looking very bright.....couple of turbos being installed as we type :-)
More than two in fact...
Turkey
Loxley
Horse Hill expansion
IoW !!!!!
That'll do for now.
Get Turkey gushing in the coming weeks and then watch the cash stream build the rest.
Wizard,
You asked "To make a honest statement that would be 100% correct you would need to be a privy to the contract.
Are you or is this just more speculation on your part?"
Am I privy to this particular contract?
Of course not.
Have I been privy to similar contracts in the past?
Yes.
Have any of them said anything other than "pay up first, before we mobilse the Rig" (I'm paraphrasing, of course...).
No.
Oofy pro, i once had the honour of working with a chap who was educated at Eton ,lovely bloke but he was a bit lacking in common sense....we sometimes had to explain ordinary things to him, but your subtle deramping isn't as subtle as you think mister Quisling
Wizard: in the absence of better information, it’s the best guide you’ve got. Why would Mr. Sanderson and his Board reduce their meagre earnings? How could they reduce their other costs significantly? No, I think Cynderlad’s analysis is probably on the money. UKOG desperately needs more cash. The moving finger is writing here. On the wall.