There might be a bit of a flurry as and when the rig arrives for those that get excited about that sort of thing, but the reality is it's going to need a major event to make the share price increase substantially.
Major event = oh my god we're swimming in oil from the new well it's coming out so fast or a TR1 from someone or something reputable.
Hostory has taught us not to get to excited before we have something concrete. Broadford Bridge etc.
My opinion we'll be where we are now, maybe 1.3 - it really depends how quickly the overhang clears. Increased volume is going to help.
The fact that huge numbers of shares are being sold by YA (because there are plenty of people willing to buy at this price) is a good thing. It will clear quicker.
You only need to look at the two huge trades over the previous two days to know how many have been sold already, it's not rocket science people. When the YA shares are clear then the share price is free to find it's own natural level, not one being depressed by a huge overhang of shares entering the market.
If the share price can remain relatively stable with these huge volumes of sells going through it's a pretty good sign.
Copy and paste of a post by dsfat yesterday:-
The £12 million consideration is payable in three tranches:
· An £8 million initial consideration on SPA completion
· A £3 million deferred payment, on or before 31 December 2019, in UKOG shares or cash.
· A £1 million second deferred payment, on or before 31 March 2020, in UKOG shares or cash.
The £8 million initial consideration was satisfied through the payment of £5 million in cash and the issue of an aggregate total of 275,988,960 new ordinary shares in UKOG ("Consideration Shares"). The number of consideration shares issued was calculated by the payment amount divided by the 10-day average mid-price of UKOG ordinary shares prior to the completion date.
Fc1865, why, considering I'm underwater and it's to my benefit that the price rises, would I want to plant seeds of doubt? Just think for a moment what you're typing.
Pboo and argus1.
I was interested if there had been published increase in limit. I would have thought that would be market sensitive information, but I can't seem to find it anywhere. So maybe it's just not important to tell shareholders this information?
I was/am curious to know if UKOG have reached anywhere close to the limit and may have to stop production. That wouldn't be good.
For what seems like quite an important limit, there seems to be little to no information available.