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Perma dog UK Oil & Gas (UKOG) starts its annual report thus: "UK Oil & Gas Plc aims to build a sustainable oil and gas production base that can help deliver its new UK hydrogen storage business as part of the UK's transition to Net Zero and which will act as a springboard to further worldwide growth opportunities in the hydrogen space." I aim to shag Cheryl Cole in an environmentally friendly way. Like UK, my aim has been constant for 11 years. My delivery to date, pitiful. Todayβs annual report is dire.
I noticed that Sandersons remuneration increased. I would say 50% decrease at this time would be more fitting but with Sanderson at the helm UKOG will go bust so a new CEO, even Lenigas (choke) would be an improvement. Imo.
Material uncertainty related to going concern
We draw attention to note 2b in the financial statements, which indicates that the group will require additional funding in the coming twelve months to meet their ongoing cash requirements.
Curious to see the dynamics of this bulletin board change over the years. Heid was the no.1 UJO ramper after parachuting in from UKOG after a similar unsuccessful campaign over there. She was warned by many after the leaked placings that her trust was misplaced but like many of the 'fairer sex' she was blinkered and would have non of it. So many funny incidences, the Rubey one always makes me laugh. Fast forward and her ramping void has been filled by two female provocateurs, a cut and paste job almost as it has taken double the amount of resources to replace her. In amongst this TheAimCasino is lurking. A fitting name and a dirty biisness no doubt. Cue ChristineTaylor with Tom Winnifrith accusations. That one does like the end of the stick covered in brown stuff. Gla.
Bell took his eye off the ball and lost the asset due to spreading himself too thin by buying too much dross and not monetising the asset, pure and simple. He has zero concentration and shiny object syndrome. You have alluded to that fact before helpful, just not in such direct language.It is ironic that RRR's future is in the balance due to an asset that RRR had and had stolen. Maybe it was a blessing in disguise as nobody knows what would have happened to it if Bell had got his sticky mitts on it. Imo.
Theoretical question Banburyboy as you are the biggest bear here?
If Bell managed to secure tha DRC payment (I know, don't go there) would you be tempted to put some cash in here with a view to the larger $430 million potential claim?