We would love to hear your thoughts about our site and services, please take our survey 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.
SS marked by this forever ? The guy has 15-20 years left on this planet , do you really think he cares ? He managed to scam 1000s of boomers out of £millions over the course of the last few years. He probably goes to bed thinking " I can't believe I managed to keep this sham company going for so long " :)
'Any company can apply to NSTA when UKOG's PEDLs lapse due to insolvency.'
If the liceenses lapse that's it - there would need to be an Onshore Licensing Round for anyone to re-licence the areas- and there hasn't been one for a while - I suspect that the NSTA would be happy for all the onshore licenses to lapse.
But UKOG (or the receiver) can sell the licenses, or the companies, or UKOG's shares in those companies that hold them to a company that has, or can get, approval from NSTA.
PEDL 234 (BB & Loxley) is licensed by UKOG (234) Ltd, PEDL 137/246 (HH) UKOG Has shareholding in HHDL the licensee andUKOG isn't the operator of Avington or Horndean.
Will UKOG go to the expense of challenging the BB retention refusal - the alternative may be a more expensive restoration of the site.
But I'm sure when there's a sniff of supposed good news the ambulance chasers will arrive hoping to sell the idea the patient is alive , well and has years to live and ignore any diagnosis that the prognosis is not good.
When will this dog be put out of its misery? One of the most epic failiures on AIM! Sanderson will be marked by this forever, so i expect he will continue to milk the company dry until its last dying breath, and extract every last penny possible.
Dont let them have a penny more. Once trading volume dries up, this company is dead and YA & co are stuck. The largest buy today was a couple hundred quid so its nearly over.
Every share buy allows sanderson to continue to claim a salary. Put and end now and dont buy a single penny more into this filthy dog
Don't forget some of the risk taken on by RiverFort/YA was quite possibly reflected upfront in their convertible loan fees of £502k.
.
This company suggested that it believes it is a going concern based on it past experience of raising funds?
There you have it. It is based on past experience. Lets hope past experience does not guarantee future prospects. Yes YA must convert but it will leave so few shares left. Will it need more authority to issues more shares? It is time guys to refuse and take no more. Let it die. RIP
AT what rate the next conversion by YA? 0.02 is my guess. or is it 0.01?
At it will raise so little money...
And still no one confronts them on X or social media. I don't understand that. They have a twitte/X account and people should be dombarding it and demanding action from these morons
Can’t even blame bad luck, bad luck was dropping the tools down the well, this is a total shambles an incompetence at the highest level from someone on half a milly a year, OR, it’s just been a massive scam the whole time.
Failures like this don’t happen overnight, this has been ran into the ground by a total clown of a CEO over several years with moronic decisions and awful gambles with shareholder money, all whilst taking a huge salary. It’s actually very clever what Sanderson has done, a modern day Ponzi. I can’t believe there are people who still defend him 🤣😂
I would think the people who received them seven years ago would be sick as pigs that they cashed them in back then, were that the case.
They are just desperate to get as much of their money back as possible.
RF/YA would love the SP to go up as that's the only way they can get their money back. UKOG have a fixed number of shares they can give RP/YA which at the current SP isn't enough.
Annual report. Extract from "going concern" ;
"....the Company, if required, will take actions to address any cash constraints by seeking to raise capital through equity or debt. Whilst there can be no certainty that sufficient funding can be obtained in the timescales required, the Directors are confident of their ability to raise capital, which is supported by successful capital placements in the past.
For these reasons the Directors adopt the going concern basis in the preparation of the Financial Statements however confirm that there remains a material uncertainty that may cause significant doubt over the going concern nature of the Group.
The independent auditor's report also refers to material uncertainty related to going concern."
Do not say you were not warned; raising "SUFFICIENT funding". Can not be done now by issuing shares, imo
Its ridiculous that a company can declare them selves a 'going concern" on their past history of issuing confetti.
The game is up.
Is this drop orchestrated in order to convert at a lower price? Every time we see these companies involved in financing there appears a death spiral. Although we are told shares are not shorted, but it is funny how the price goes down to a level where cash is exchange for a lower share price. Is this all orchestrated? Sill how much can it raise and with the exchange be even lower and at a bigger discount? Looks like Administration beckons.
To be honest, I don't think there is much chance of anyone being dragged into this stock, it only takes about 5 mins of some basic digging and it is clear that this is doomed... anyone trying their hand on this one deserves a top medal if they can spin any micro profit from a quick trade. There are far better stocks out there to take even a high risk punt on than this dead dog.
Ocelot still trying to polish the proverbial! And drag others in to this mess? You and that other character FOTH have a lot to answer for, you both should be investigated by the appropriate authorities, there’s something not quite right!
I haven't owned for a couple of years.
Just because you don't own doesn't mean you don't have an interest.
If you're interested you can post.
Don't let the nutters here (of which there are plenty) influence you.
Hitting new records every day. When’s the pound party. Remember that one a few years when I bailed out at 2p.
Any company can apply to NSTA when UKOG's PEDLs lapse due to insolvency.
AimDogs,
I thought of that but decided against it: please correct me if I am wrong but I believe UKOG's licenses are specific to UKOG.
Ocelot. I think if any entity is interested in any of these assets the entity will wait and get them for bottom dollar when UKOG goes into administration.
Prior to the latest 200,000,000 issue the loan balance was £545k.
Say they manage to get 0.035p (being generous) for each share then that's would reduce the balance by £70k to £475k.
UKOG has authority to issue 1,220,034,718 new shares, if they all go to RF/YA and sell for 0.027p that's would generate £329,409.
So even if RF/YA are immediately issued with all the allowed shares the loan balance would still be at least £145k.
Administration must surely be coming very soon.
A favourable supreme court judgement; a farm-out of Loxley (still the website's home page photo after more than a year); the successful conclusion of discussions with one or more international investor(s) re their participation in Portland.
The list of potential positives remains the same while the share price succumbs to the lack of new updates.
This is the final part where the Titanic breaks in two.
Apologies for posting as I do not own this share anymore , dropped my cods like every other person.
I just cannot believe the brilliance of Sanderson , he has literally robbed the bank in full view , and I imagine he will attempt a last hurrah.
I got sucked in by the absolute BS , but at the end of the day only MR Sanderson has won. And for that I applaud him , hopefully he gets his come uppence at some stage.