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Ah, Insidious and his "Would not want to be out of this over the weekend." nonsense.
I suppose it's better than his usual 2p/5p posts.
But just for grins;
Insidious, what "positive news" is in the pipeline that could possibly make this share sky rocket?
Loxley has been on the farm-out market for over 2 years and nobody has touched it yet.
And why would they, with the crushingly bad CPR that UKOG produced?
Nobody would buy in and carry UKOG 100% on what is effectively an Exploration Well that has offset data already available to show it's highly likely to be dry.
So go on, enlighten us as to your logical, factual, well thought out reasoning.
Although I'm not going to hold my breath waiting for your reply.....
Penguins,
UKOG originally had a stipulation that you had to be a shareholder to attend - have they dropped that?
Ocelot,
Although the market cap is less than £1 Million, any take over would have to accept not only the outstanding debts, but also the liabilities of the abandonment and restoration of the BB & HH sites.
Why take over a failing Company when you can just wait for them to fold and the licences been returned to HM Govt.
If you think it's worth it, you can then apply for the licences, but without the debts or restoration costs hanging around your neck.
GW71:-
Sentimental claptrap - I don't care much for UKOG or for that matter any company I have invested in.
I use them to make money whether that is short or long term.
UKOG was short term and I traded the ass off it - Sanderson sold the dream to everyone (Gatwick Gusher) but some saw it for what it was - a vehicle to make a bit of cash.
People only have themselves to blame if they are stuck in the mire of the AIM.
UKOG is not the only pup being peddled as the next big thing.
Couldnt agree more gwilliams. That RNS just rubs salt into the deep, festering wounds here. And just when you thought Sanderson could stoop no lower! You can now expect an RNS after every YA conversion of this nature. Every single share someone buys into this company goes directly into Sandersons pocket. There is nowhere on AIM more evident than this! UKOG is now nothing more than a wealth transfer vector from those fool enough to buy a single share, direct to Sandersons pocket. Do not pass go, do not expect a penny in return!
At least Sanderson knows the game is up. This is why he is looking to extract every last penny from the company, any way possible.
And some here are still sticking up for them? Anyone still defending the bloke at this juncture is either an affiliate of Sanderson, Sanderson himself or are on day release from the looney asylum. There is no other plausible explanation i can conjure. Either one, or a conbination of the above wouldnt suprise me in the slightest. This is undeniably one of the very very worst, and will go down in history as such! MTV has a new contender, if anyone remembers that one.
Welcome to AIM at its absolute rock bottom worst.
Nibbley - I agree with some of that. However that shouldnt and must not excuse the behaviour of the board of this specific company that are shooting in the dark at lost causes and taking investors for a ride whilst doing it. That the landscape is littered with similar cases does not make it right. there have been many well meaning start ups that have for no fault of their own ended up on the wrong side of history. This isn't one on then, The board - and Sanderson in particular - have dishonoured their fiduciary duty time and time again. They have taken sky high salaries, produced nothing but a loss and no hope of getting anything away.
Investors should beware and my humble opinion is that sooner or later the game will be up and if one is holding shares, they'll lose the lot. But if it's gone down this far then i suppose why not hold out - it's all gone bar the shouting anyway. And Sanderson keeps paying himself seriously bug bux which he doesn't deserve.
Reporting Period Month Name February 42 bopd
Oil Production Mass (tonnes) 162.432
m3 192
Associated gas production mass (tonnes) 5.293
Associated Gas Production Volume (ksm3) 5.947
Gas Flared - Volume (Ksm3) 5.947
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 151
Reporting Period Month Name January 44 bopd
Oil Production Mass (tonnes) 181.89
m3 215
Associated gas production mass (tonnes) 5.418
Associated Gas Production Volume (ksm3) 6.088
Gas Flared - Volume (Ksm3) 6.088
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 165
Reporting Period Month Name December 45 bopd
Oil Production Mass (tonnes) 188.658
m3 233
Associated gas production mass (tonnes) 6.755
Associated Gas Production Volume (ksm3) 7.59
Gas Flared - Volume (Ksm3) 7.59
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 168
Reporting Period Month Name November 44 bopd
Oil Production Mass (tonnes) 176.814
m3 209
Associated gas production mass (tonnes) 6.124
Associated Gas Production Volume (ksm3) 6.881
Gas Flared - Volume (Ksm3) 6.881
Gas Flared - Non Hydrocarbon (%) 4.5
Water production volume (ksm3) 185
Month bopd
Mar 23 54
Apr 23 46 Tank washing
May 23 57
Jun 23 56
Jul 23 50
Aug 23 46
Sep 23 48
Oct 23 45
Nov 23 44
Dec 23 45
Jan 24 44
Feb 24 42
Receipts for February $83.76 x 42 x 28 = $98,502
Receipts for January $80.23 x 44 x 31= $108,426
Receipts for December $77.86 x 45 x 31= $108,615
Receipts for November $83.18 x 44 x 30= $109,349
Receipts for October $91.06 x 45 x 31= $127,029
Receipts for September $94.00 x 48 x 30= $135,360
Receipts for August $86.16 x 46 x 31= $122,864
Receipts for July $80.11 x 50 x 31 = $123,957
Receipts for June $74.89 x 56 x 30 = $125,815
Receipts for May $75.70 x 57 x 31 = $132,738
Receipts for Apr $84.11 x 46 x 30 = $115,801
Receipts for March $78.53 x 54 x 31 = $132,451
HH production for February was 42 bopd
The Dear Leader (praise be his name) cannot be replaced! The company would become bankrupt without his devotees buying shares to support the company.
PS: for the very simple reason that I know I am not SS!
In all honesty, nope.
Ocelot you are presuming that a lot of negative posters are not really shareholders as some posters presume that you are not a shareholder and also presume you are Sanderson.
Can you see the hole in your thesis?
Foofgal "et al",
As you are all aware the Stock Market in general is nothing but a gambling platform.
Don't blame Sanderson for your poor investing decisions.
Irrespective of his salary - many more on AIM are doing the same.
The hard cold facts are that many on here thought they were on a get rich train and ploughed money into it.
I did the same but I used it as a Trading opportunity and it did me well.
I also had the good sense to realize like a lot of others on here that UKOG had run its course and was doomed and I therefore sold up and I now sit back and read the Daily Drivel on here.
Stop whining put your (so called) money where your mouth is and sell up and take the hit on the chin.
This is the Stock Market and its bites hard
I just want sanderson gone, no more wages for him as he has destroyed lth wealth who believed his bull shirt.
If a lot of the negative posters aren't really shareholders, why do they suggest UKOG's CEO be replaced, when he isn't their CEO and they are not in a position to do anything about it.
If you want to change the CEO, all you have to do is take over the company (market cap of less than £1m at the present) and then you can appoint whoever you like as the new CEO.
You are all adamant that Sanderson should go BUT who replaces him and more to the point who would want to take over !!!
The rns i’m waiting for is sanderscam has been sacked.
If you really are shareholders and you fell for this obvious ponzi scheme you probably shouldn't be playing in the AIM market. Imo.
Hope Sanderson is ensuring the staff turn the lights off at night, and that they no longer need any heating or hot water in the buildings.
A big leccki bill now and it could wipe the company out. Still he’s probably on a meter as the credit helpers at British Gas or any of the others would say …” I’m sorry Mr Salmonpants (sorry I mean Mr Sanderson) have you tried cash converters … or pay day loans for your electric”
Sad but we all know why he had no skin in the game this last ten years whilst paying himself a salary of someone who ran a real company
Ocelot forgets that at 40 shares to a penny a multipack of decent toilet tissue has about 20x less sheets than you could buy shares in UKOG, but does ocelot actually know what the SP is?
Even after consolidation everyone in the UK could have 4 shares each (worth about a tenth of a penny) just from the EBT holding and there would still be millions left over for the employees.
Anyone who wanted to turn up could, the main cost would be trading fees - does ocelot really believe in holding shares in UKOG forever is smart?
Ian,
....and what would be the point - they don't take published minutes it isn't broadcast and judging by their actions they are well aware they are unpopular - this EBT business illustrates they are defiant in the face of dissatisfaction with the way the company is run.
Ian12,
Don't suppose they CAN attend the AGM, they would need to be shareholders to do that.
So how many of you moaners would actually attend the AGM to air your views???? You are just keyboard activists.
There's been nearly 560,000,000 shares issued since the GM so 10% is another 60 million shares to add to the 300 million odd already in the EBT - and they aren't considered part of the authorisation for issuing shares
The sequence of announcing unsubstantiated claims about interest in Loxley, perhaps hoping to help out the next days announcement of another conversion, followed by an announcement about gerrymandering the votes at the AGM shows they no longer care - if they ever did. Though maybe a little worried about the 75% passmark votes.
Can't wait for the AGM announcement which must be soon after this RNS, though if they wait a while longer the opportunity to stuff the EBT with more shares with the next conversion is surely on its way.
What are all these 'reward' shares for anyway apart from votes - extra share of the pot if they sell UKOG?
767k m/c