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Some right nonsense being spouted on here for most of the day... telling other Investor's what is or isn't going on when in reality they actually know f all..
hh1an2
Same posters, same rubbish day in day out!
Boring or what?
Wizard brings all the facts to the table. oh wait, no he doesn't. Just like Ozzy, TH and OCelot. All they bring is opinion.
Here are some facts for you:
1) No Turkey update since 12th May (the tweet on the 31st was deleted). That's 37 days ago. So much for Turkey being a quick and easy drill.
2) The $5m capped is just for the "initial" drill. Note the word "initial", be careful reading UKOG RNS's as they are selective in what they share and "initial" means just that, i.e. there will be further costs.
3) UKOG only had £1.6m cash left at end of Sept 2020, and raised £2.2m on Oct 2nd. Giving them a balance of £3.8m cash at of early Oct.
4) HH oil production is dropping like a stone, and the water cut has increased. Water disposal costs will be eating into profits. Will the price of Brent serve to offset the water disposal costs, or will the monthly losses incurred by UKOG in running UK operations worsen?
5) Burn rate in the results posted end of Sept 2020 show a loss of £266k per month, that's quite bad. That is a fact, it's not made up, it's all there in the accounts, you have never provided a counter argument on that point.
6) Its now close to 9 months since the end of Sept. 9 * £266k loss = £2.4m loss. Leaving just £1.4m of the cash that they had in Oct. Extrapolated figured of course, but unless you can demonstrate the UK overheads have suddenly dropped or that HH is producing a lot more oil and less water, then you cannot argue against that point.
7) AME will not take confetti or IOU's, UKOG will have tried that and AME will be wise to the games. Why wouldn't AME take confetti if the drill was nailed on? Why would AME look for 100% funding for the first well if it was nailed on?
8) UKOG need to pay AME ~£3.6m, have they even paid £1m yet? Where is the rest of the cash coming from?
9) The 2 resolutions at the GM allow UKOG to issue a further 8 BILLION shares, thats a huge dilution on the existing 13 BILLION shares.
So, you better go back to your WhatsApp group and work out how you can argue against the above points, you'll fail, and then resort to the usual posts and abuse.
cynderlad
9) The 2 resolutions at the GM allow UKOG to issue a further 8 BILLION shares, thats a huge dilution on the existing 13 BILLION shares.
............
A 8 billion share placing at 3p would give the company £240 million in working capital think on?
As I say following the Turkey drill many things can change as there are many plans at HH PEDL234, IOW, Resan & the additional Turkish licences under consideration.
Wizard,
UKOG aren't going to get a placing away at 0.3p, never mind 3p.
They'll be lucky to get a placing away at 0.15p - and they need a placing to pay AME before AME will bring the Rig on location to actually drill the well..
zyx098
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?
Wizard,
You been smoking something? 3p per share in placing/open offer.
It'll be 15% to 20% discount on current SP, so 8 BILLION * 0.16p would give £12.8 million.
I've already said that I believe that there will be 3 fund raises to cover the rest of 2021. But they are not going to get £240m.
LOL
LOL
LOL
LOL
LOL
Wizard,
If AME were willing to start the drill without being paid, then 37 days since the last update would suggest that they would have done so by now and that UKOG would be tweeting away to get the volumes up to help them get a placing away.
Unfortunately, AME have not mobilised, there is no rig on site, and Sando cannot get a placing away (which he favours over an open offer) as the usual business partners do not want to take the risk of trying to sell a huge volume of shares into a market where the SP is drifting down. They'll lose money on the deal.
cynderlad
That's why you are short & I look forward to your tears!
Wizard, its not speculation is it...... It's more like " declaration " without the facts to back it up
ozzy52
Be careful Ozzy52 you could be accused you of calling them desperate to get the share price lower.
Poor old Cynders with his far out £10 stake shouting the loudest?
LOL, is Ozzy still posting here. He's in my filter bin. Poor lad must be gutted that he's so far under water with his £500 investment. Correct I sold my £10 worth. Wait too long and I would have only got £5 back for it. But then Sando has been a master of selling PI's £5 notes for £10.
Talking of which, where is Sando? He's not been seen or heard from for weeks. Still no investor calls, he really is a grade A CEO right....
Ozzy..... just for you.... as you'll read my posts..... But I will not read yours........ Lots of pointless dots..... to follow up pointless statements...... .... .... Price of fish huh...... Enjoy your weekend..... Maybe get to site..... take some photos...... Send them off to Sando...... Ask for him to sign them...... pin them on your ceiling......
Sense desperation at UKOG Towers - all the regular rampers out of bed before lunch and posting like crazy
mirasol
I take it that comment is to hide your embarrassment at your postings?
This is frankly ridiculous. Cynderlad has taken the trouble to do the required work on earlier years’ profit and loss account data and has been good enough to share it here, and the response is merely to rubbish it, with no justification in the form of alternative data. Is this really the kind of thing that people come onto these sites to read?
Why are people not more concerned about the lack of any recent information on Turkey? This and the company’s patently obvious need for more cash imminently are clear red flags as far as short term price performance is concerned. Can people really not see it?
QUOTE
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wizard125
Today 10:44
Posts: 3,800
Price: 0.1825
No Opinion
cynderlad
That's why you are short & I look forward to your tears!
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UNQUOTE
A new low.
skwizz
From a trader who has no commitment to the company I'll take that as a compliment.
oofyprosser
You forgot to read the disclaimer?
Past performance is no guide to future performance.
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.
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,
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.
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.
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.
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.
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.