Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
headinthesand
Not really they were costs relating to going into production during the pandemic with Brent crude at about $19 per barrel. & growth costs.
So Wizard, you're walking back on your earlier claim that the company "has lived within its means"? Very sensible.
Interest & excitement certainly starting to grow here with the traders & naysayers hoping for a placing that never happened
that they have been hoping for for many months now & never happened.
Every reason for the placing coming has been overcome by the company including the rig for contract & deployment.
Read them & weep!
Wizard: they’re in Turkey to justify the continuing payment of large sums in salary to the CEO. He had to do something. Once they’ve had the next equity capital raise, there will be about 20bn. shares in issue. That’s about enough, once sold, for a Smartie for every one of the world’s population.
headinthesand
The statement from the company was once in production rises will only be done for growth.
Production commenced March 2020 with funds raised to reduce costs & debts by the purchase of equipment which will work for shareholder benefits with increased profits of not paying rental charges towards the 20 year production term going forward & the loan that covered the purchase of the 35% stake from Tellurian.
Funds raised for Turkey are growth opportunities & as I said this is a investment which has obviously taken many years to bring to fruition due to UK regulations which hopefully will not be the case in Turkey under Turkish law.
HH is still awaiting the environmental permit for up to 6 wells for production & the water injection system.
Hopefully now we should start to see better figures coming out with the debts & historical losses out of the way & hopefully the interim accounts due to be published will show some improvement by the end of June & a rising oil price.
Wizard this morning writes...
"...because UKOG now has a income & has lived within its means."
Sorry??? Could you point out one annual report showing that UKOG has "lived within its means"? The briefest of looks at audited and filed information will show anyone the following:-
FY 2017: £2.27 million pre-tax loss.
FY 2018: £16.75 million pre-tax loss.
FY 2019: £5.39 million pre-tax loss.
FY 2020: £20.94 million pre-tax loss.
Hardly "living within its means"... could we at least try to be vaguely truthful?
Since Day One, UKOG has lived on raising funds from the market and debt - that's by far and away the primary source of its "income". This may be something that people are happy with in the hope of some future return...
...but UKOG has never once lived and is still categorically not living "within its means". To maintain otherwise is both trite and farcical.
Ingratitude, thy name is Ozzy 22.
.
Oofy pro, oh, was that incorrect....just like your libellous post......remember!
Ozzy22: “Ocelot, or maybe he's just possibly a lieing toad...”
Lying toad, surely?
ocelot
Never mind egg cups of oil but egg all over his face as well?
wizard125,
It did occur to me that somebody might have thought they had identified TW's source and chosen to feed some information to that source to see what happened next :-)
ocelot
It was probably leaked by UKOG to show people how unreliable TW is when it does not happen. We have listened to the scaremongers for the last 6 -9 months of how many placings there will be!
How many have there been?
A big fat 'ZERO' is the reality.
Why?
Because UKOG now has a income & has lived within its means.
What many seem to forget is UKOG was pretty much a start up business which has indeed grown as stated when it changed from a investment company to a oil & gas production company in 2018.
That cycle of growth despite the nay Sayers has indeed been funded by shareholders & I hope that we are now seeing the green shoots of our investment that can continue to grow for many years to come into the future as was stated by SS by UKOG becoming a larger company, beyond oil & gas with the new geothermal energy projects planned.
UKOG always had ambitions & imo it will still take time but the development of Turkey, the IOW, HH & PEDL234 will be individual parts of the business in time for those with a vision to not only see the next rise & fall & that is what a investment not just a trade is all about.
Ocelot, or maybe he's just possibly a lieing toad.....it has been referenced on the odd occasion.....pizza anyone? Served with a lot of cheese
As time goes by, it does look increasingly as if TW may have mistaken a preliminary sounding of the market for the placing itself.
df, don't seem to be any rush at the moment. ATB
If no placing before spud, .5p is possible this week. Will buy more later.
I find it unbelievable this share is still down by around 20% from what it was 6/8 weeks ago without all the information we have now .. oil hitting over $75 and rig is on site! Strong buY IMO, 0.020’s won’t be hear for long!