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Bahamas for all the invested....
This time next year you should be arrested with that statement.
Insidious, your credibility - what's left of it - takes a hammering each time you post.
RE: Sale of the Century16 May 2024 18:21
OOPS!! Insidious
Posted in: UKOG
Posts: 3,356
Price: 0.035
Hold
RE: Position
11 Oct 2023 17:41
Purchased £7K @ 0.031 this week, lets see if I can double my money. Worth a punt at these prices...However I will not be crying if this goes south.
Ninetails- the fantasy oil rig worker 😂
Insidious the fantasy investor.
Get a room both of you....
Insidious just post an email address and I will take pictures, I am at work just now and happen to be in possession of an intrinsically safe camera, I will hold up a card with your name on it…
Ninetails,
I wouldn't bother. The biggest liars on this board (and probably all the others) are those that post that anyone they disagree with are swampies, nimbys, etc., then claim how the SP will rise because the upcoming news will be so good whilst selling on the slightest rise before news breaks.
Looks like there will be another couple of weeks of guaranteed no news from the Supreme Court. PPP silent about their workovers so the farm in going nowhere (perhaps news in June they've extended the deadline to complete, again), continued silence about Turkey, Loxley farm out handed to the marketers of last resort, leaving Portland Port tweets reminding punters it'll be great in 2050 if they get an allocation later this year, or maybe the second round - the consultants etc working on that project the benefactors of the recent cash raises. What are the chances they will challenge the BB site retention planning refusal as that will drain a bit more cash, though they have another 4 months to decide to do that.
In fact what are the 'team' at UKOG doing apart from devising ways to confound their investors?
With the jeopardy of the AGM next week the next hurdle - either authority granted to double the number of shares, or another abandoned meeting while they think of another wheeze to get their way without changing course.
No one is going to be interested in Dunsfold. 5 Planning Applications outstanding and this one is under Re-consultation. (Change as of yesterday)
"Our Reference
SCC_Ref_2023-0076
Application Number
WA/2023/01032
Application Type
Details Pursuant Minerals/Waste
Status
Re-consultation
Decision
Location
Loxley Well Site - Land South of Dunsfold Road and East of High Loxley Road, Dunsfold, Surrey
Proposal
Details of a Construction Environment Management Plan (CEMP) pursuant to Condition 24 of appeal decision ref: APP/B3600/W/21/3268579 dated 7 June 2022."
The Loxley 'dream' will remain just that. No-one in their right mind will farmin and put up £7-8 million to appraisal drill on the basis of UKOG's re-interpretation of legacy data; not for 95% let alone the 50% UKOG offers.
UKOG's own confidence is pretty low; UKOG previously announced they planned to farm out Loxley because of "uncertainties" and that there were better uses of UKOG's cash resources elsewhere.
So Sanderson reckons LOXLEY is a poor gamble BUT he's happy to see others risk it. Instead he 'rolled the dice' with the company cash in Türkiye which he obviously thought a better bet. He lost .
What else has this company worthy ? The PPP farmin? That's a joke as PPP hasn't got the necessary cash to don anything significant.
The Portland £1,000 million project ? Who would want to partner UKOG who are at risk of administration. Anyway its a far distant dream ; many years before any cash MIGHT be generated that's IF the government thinks UKOG are fit.
You have to be clueless to buy this share now ahead of a likely doubling of the shares in issue because the funds raised thereby will last but a short while; maybe enough for 4 months working capital.
Imo you will be lucky if the share stands at 0.015p a few months from now especially as the company will be forced to look for further working capital; YET AGAIN.
I think their best bet is to sell some likely sounding assets . Alternative buy back all their shares and use them to build a step ladder to the moon and charge for the exerpience ?
"I think their best bet is to sell some likely sounding assets ."
Like what?
What 'valuable asset has UKOG to sell?
Avington 5% interest ? worth VERY little
Horndean , UKOG's 10% interest is their most profitable asset. " UKOG's net share of Horndean production revenues was £297,000 for calendar year 2023, with net earnings after costs of £140,000."
Overall profit from all UKOG's oil production was £275k. It follows that the profit from HH production was only £135K.
Not sure selling Horndean would raise enough to keep the lights on long.