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""I think this has been over sold""
Ehhh !!!! IF they had assets and value !! What they have is a bunch of liabilities, the ONLY thing producing anything of worth for THEM is that crackin little confetti factory !!! never faltered, runs like a dream and soon to be upgraded !!
Sorry got that wrong should have been a repl to the others that say the same
Over Sold worth a little more than it is now
UKOG is burning about £250k a month, that's 25% of it's marcap each month. It needs to double it's share outstanding every four months just to survive.
Go into a dark. quiet room and think about the implications of that before you feel tempted to press the buy button.
UKOG is burning about £250k a month, that's 25% of it's marcap each month. It needs to double it's share outstanding every four months just to survive.
Alternatively, it needs to increase its market cap.
Ocelot posts a warning without realising... if they need to double the number of shares in issue every 4 months to pay the 250k a month running costs then the share price will halve every 4 months. The halving may be an underestimate as the share price is down by 80% over the last 4 months.
The phrase 'caveat emptor' comes to mind.
The market cap really suffered on the failure of Pinarova-1.
Personally, I was surprised by the extent of the negative reaction. Given all of the dismissive comments beforehand on this board about Pinarova-1, I hadn't realised market expectations of success were so high.
Ocelot is talking his usual pie in the sky ramptastic rubbish, have you no conscience man? How many have you drawn into this corrupt lifestyle company? With your jam tomorrow postings?
Where was the share price before the Pinarova-1 result? About 0.20p in new money?
On bad news, I was expecting it to come off, say, about 25% because I was assuming expectations were already not high.
But it lost almost 50% very quickly and is now at 0.029?
The share price reaction has been very much worse than I for one anticipated.
they kinda admitted that the prospects for hh & loxley weren’t that great by choosing to spend their sp**** funds on turkey instead. so when that ended up a duster it’s not surprising the market bailed on them.
S p a r s e gets censored lol
Just testing:
On a tree by a river a little tom-tit
Sang "Willow, tit willow, tit willow"
Morning Steve - slow morning at UKOG HQ?
Ocelot,
Given how often the share price does not follow your expectations it's hardly worth mentioning, but how often have you claimed all the bad news is in the SP only to see it drop on the expected (by some) bad news - dropping further than your expectation should be no surprise.
Since Pinarova the BoD has embarked on a anti-shareholder crusade - determined to ram through GM and AGM resolutions to give authority to issue 50% more shares at the GM and 100% more shares at the AGM by getting the EBT to hold 10% of the share capital - and vote in favour of the resolutions. This enables the BoD to continue to ignore the disparity between their pay and performance and pour any cash raised into the vanity Portland Port project in the hope of being awarded an allocation of guaranteed future price subsidy by government to be applied for later this year.
The loan notes have continued to be exchanged since the Pinarova RNS for shares with £420,000 remaining - or about 40% more shares.
No mention of future cash raised going to Horse Hill or Turkey, and no progress on the PPP farmin of HH (long silences from PPP about their ventures not boding well) or firm news of Loxley being farmed out - all things that have been long expected 'soon'.
With the only plans getting more fund raises away, farm ins happen at Loxley and Horse Hill, nothing about Turkey and the Portland Port money pit depending on an application later this year it's probably more surprising the SP has only dropped a bit over 50%.
Or Alternatively - it needs to get a product and sell it - at a profit, make money - simples really
They kinda admitted that the prospects for hh & loxley weren’t that great by choosing to spend their sp**** funds on turkey instead. so when that ended up a duster it’s not surprising the market bailed on them.
One of the attractions of Turkey was the prospect of timely monetization of any commercial finds.
Re HH, after all this time, we still await the Supreme court's judgement. Rwanda was, apparently, a walk in the park by comparison to scope 3 emissions.
Ocelot
What " timely monetization of any commercial finds."? The licence area hadn't produced any oil despite 12 wells being previously drilled there. perhaps that would given them a clue. A real bunch of brainless wonders got taken in yet again.
"One of the attractions of Turkey was the prospect of timely monetization of any commercial finds."
Trouble is; it was a wild GAMBLE and Sanderson blew an enormous amount of cash leaving the company fatally weakened.
He should not have gambled away most of UKOG's cash resources. It was all or nothing ; and surprise surprise; it was a failure. When you drill paying 100% of the costs ,without doing seismic first, in a hopelessly unproductive area anyway; the odds of failure were very high.
Was there nowhere else considered worth investing in ?
He should have resigned for this reckless behaviour.
This is the biggest jump I've seen in ages. Have they invested in the Falklands or something?
The higher the share price rises, the easier it becomes to fund UKOG via equity capital, thereby creating a virtuous circle.
"a virtuous circle."
Sanderson likes the UKOG " virtuous circle"; printing money by issuing more shares ; diluting shareholders to oblivion BUT taking ever increasing wage despite not achieving anything and losing millions every year.
Nothing has changed here.
UKOG is about to double the number of shares in issue yet some thinks that means the share price will double instead of actually halving. Good grief; no wonder Sanderson keeps this show on the road ; there is a total lack of understanding of how bad UKOG's numbers are amongst some 'investors'
"Have they invested in the Falklands or something?"
LOL; UKOG have so little cash now . You need tens of millions , no , actually hundreds of millions to play in The Falkland's. UKOG have a few hundred thousand and are going raise just enough by doubling the shares in issue to pay company running costs for a few months more; then what? There is no room for investment; priority is paying wages.
SS will soon be taking his last pay check, so start the countdown to administration. Company will cease to operate before September.
0.04 paid ticking up!