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It's not just the content but also the tone of the RNS which is encouraging: for all the purveyors of doom and gloom, this sounds very much like business as usual.
At the time of the release of the annual report, a poster remarked upon the absence of the name of the CFO. The CFO's name appears with that of SS at the bottom of this RNS.
You get clown of the year award insidious. shameless individual
SP looks like it has found support, onwards and upwards....
Sorry my mistake
Yes Envoi not Envio
Skwizz posted ""The RNS smacks of desperation"
Exactly what I thought."
UKOG should have saved themselves the RNS fee . Its a revelation; UKOG have NOT been unable to farm out LOXLEY and they are no closer to one today than they were 2 years ago. The other two interested parties must be considered 'timewasters ' because UKOG would not be hiring 'Envoi' to market Loxley otherwise.
Envoi, oh dear, oh dear. say no more.
UKOG actually shot themselves in the foot today with that dismal RNS.
"Envio is not a specialist firm. According to Companies out it's run by James Wilkinson who also owned a company called One Event Services and before that Funky one sound Hire"
Its ENVOI not ENVIO
Bahahaha god this company cracks me up. RNS worded as though this is their first attempt at Loxley farmout and now come the ramptastic tweets to suck in as many new punters as possible. Problem is...nobody is buying it.
Lets have a think about this. Who in gods name would fully fund appraisal drilling and testing programme costing 10s of millions when they can simply wait (very short time to wait) for 88e to go under and pick it up for a song at auction??
Anyone who has expressed "interest" are probably having a sniff around and a tyre kick to see if it worth bidding on once the block ends up in auction haha.
And as for this "specialist firm", who wants to bet this is a ploy to extract every last penny from the company via mates? Or using this as a ploy to get away another placing to pay himself a salary? Too predictable. Look out the window Sanderson, theres a flying pig and unicorns jumping over rainbows. More chance of that happening than getting a FO! Or spend the little remaining cash on lottery tickets perhaps? This would cause more enthusiasm than this loxley dog.
Its OVER Sanderson! Nobody will ever fall for your BS again. Its 1 second until noon. TICK!
Scamdo thought he found another carrot to dangle but nobody has took the bait, game over.
Jerseycrew.
No double gazing but
Renting and leasing of media entertainment equipment.🤣🤣
Any double glazing activity in the history?
Envio is not a specialist firm.
According to Companies out it's run by James Wilkinson who also owned a company called One Event Services and before that Funky one sound Hire
So Loxley going to get pressured up to produce gas for reforming into hydrogen via the solent cluster and then into the caverns at portland.Expect government help to wash out the strata with brine into caverns UKOG placing itself to help net zero....
"The RNS smacks of desperation"
Exactly what I thought.
Do they retweet every time 3 or more disgruntled share holders reply calling them out for the sham they really are?
Correction: not repeated word for word, they've specified Envoi's name and its area of specialisation this time:
LOXLEY UPDATE: Important progress with appointment of specialist marketing and divestment company Envoi to facilitate farmout of our gas and hydrogen feedstock project. https://tinyurl.com/353ur9pk
Repeated 5 minutes ago.
I'm surprised a specialist firm wasn't appointed earlier, UKOG does not give the impression of being under time pressure.
Ocelot is getting desperate. 11 posts today compared to 56 in the last 30 days for UKOG. The sands are slowly running out.
Lets start with the basics as revealed by UKOG at the Loxley planning enquiry. Cost of the Loxley drill was THEN estimated at £7m. Full field development after a successful appraisal would be £50m.
These numbers are so way out of UKOG's ability to fund that its obvious UKOG needs at least a free carry for the appraisal drill and testing.
It appears that UKOG's attempts to farmout alone have come to naught despite repeated reports of 'interest'. In order to hopefully move the dial UKOG are throwing their meagre cash resources at Envoi.
It appears from my reading of the farmout proposal is that up to 50% would only cover an appraisal drill; not full field development. I suspect that IF Loxley ever goes ahead the field development would have to be much less ambitious as £50m is FAR to much for UKOG to ever fund 50% of.
The RNS smacks of desperation; its a last chance to excite the punters before a high noon AGM where UKOG are going to have to reveal how on Earth they are going to raise further basic working capital ( translation ; how to keep paying high wages and spinning the dream chases longer).
Https://drillordrop.com/2024/05/01/ukog-appoints-help-to-farmout-loxley-drilling-project/
LOXLEY UPDATE: important progress with appointment of company to facilitate farmout of our gas and hydrogen feedstock project. https://tinyurl.com/353ur9pk
That'll be what they claim the next fundraise is for, when in reality it'll be to cover SS salary.
I predict an attempt at something like £500k at 0.01p, which will cause the price to crash to 0.005p.
Interesting no mention about Envoi fees for this - I doubt it is on a no win no fee type basis.
By the way I expect the NPV valuation to be fairly arrived at, what stinks is by not having a published CPR UKOG can hide what the testing and production meant, and what the future production from HH-1 is expected to be, and possibly more telling whether what has happened was predictable and should have been conveyed to investors, rather than what was RNS'd.
With you. You're talking about Envoi! Apologies, as you've understood, I thought we were talking about UKOG.
The assets of Envoi the company that UKOG are tasking with finding a farminee!!!