Member Info for CaptainSwag

dsfat - I agree. written this off but as always the optimist in me always gets a little excited at the thought of "just maybe".

the trouble is that leni tries to pump via twitter - but firstly the rns gives nothing definite and i get the feeling the aussies are less gullible and not so easily sold jam tomorrow. so there was no rise in SP on this . this is why i think it will be very hard to place on asx.

that limits us to selling the ukog shares to fund the field plan to achieve the 50%. so we are selling our assets to drill - with no guarantee of success.

The problem is that ukog have just had a placing so SP is down and will be for a while. once we start dumping the SP will take another plunge.

the alternative i suppose is to do the 5% Shuffle again and sell remaining %

i guess we all got involved in dor for the kimmeridge jam - i wonder how the majority of people feel of the thought of getting out of it before the end game? to invest in another exploration drill?

And still the price goes down.

What do you think the market is telling you?

Then select some figures that are currently true that contradict me. You just offer conjecture and accuse me of misleading.

Those historic highs which are many multiples of today's sp that you quote are not current and may never be again. They are not relevant.

Ukog would have to go up by 600%. On today's confirmation of the placing rumor the sp is most likely to drop to 1p rather than go ip to 8p

What threats I have made or is it more of your fantasies? I just pointed out that the more. You prod me the more I read and the more negatives I uncover. That wasn't my intention.

your maths is a bit off mate - lets say they could sell every single share at todays price

129million UKOG shares at £0.0115 = £1483500 or just under $2.75m

8.3milllion ANGS shares at £0.056 - £465k or $860k

say a total of $3.6m

now $1m has been promised to REY for the field plan . you have already highlighted the shortfall needed to pay wages and admin. I have just noticed that the accounts say £300k ($555k) in wages remains unpaid. never mind their wages for the next year £426k ($788k). then there are admin expenses (offices/ listing / biscuits etc)

not leaving much over. so we do the field plan - then they want another round of tests? or lets say everything goes great and they want to start production. do you really think that will be enough.

if the rumour of a ukog placing is true then the SP could well drop under 1p. Also remember I don't believe if 130 million shares got dumped then the SP would hold - I will prove why in another post

are you sure you want to keep prodding me with a stick? you probably would have been better letting it go.

dude - READ MY ORIGINAL POST PROPERLY

"looks fooked to me.

just over £200k cash and wages are £426k with 3 directors on over £100k.

cost of sales double income generated.

They will no doubt sell of shares acquired in UKOG and Angs to pay wages. How are they going to fund new venture? 1 year and it will all be over"
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THEY WILL NO DOUBT SELL OFF SHARES IN UKOG AND ANGS - Does that sound like I "forgot".about the shares ?..lol

Doesn't matter how many times you repeat it - it is there and black and white.

ex - there is a shortfall if they don't have the cash to pay the wages. It means they have to sell assets to pay for whatever the board do - I am not sure that much goes on but that's not the point here.

or do you think selling off assets to pay leni for a few tweets is something everyone wants?

OK we pay the wages for this year by selling our assets. Lets say you are right and the company lasts more than another year. do we sell off more assets(shares or % of kimmeridge) to pay wages for next year?

I didn't forget the shares - if you read my post I mentioned they would have to sell them to pay!!?

I don't take offence ..don't worry...I am not going to get upset over what some stranger writes on a BB. Though at times it can be challenging trying to reason with someone like yourself. As it goes round and round no matter how much I try to simplify and explain it to you. But thats OK - I don't mind a challenge when I have time

lol...??????.it is not an asset ... they will have to sell shares to pay for the following:

1)wages
2) admin costs
3) $1m for field development plan - RNS of 5/3/19 - you should really know that

Thanks for the entertainment ex - it was otherwise a quite day at work! All the best

ex - i have explained everything enough times already.

but here we go again

"just over £200k cash " - no implication ..i am saying they have cash of £200k - taken from accounts (FACT) ..i am not talking of anything other than cash.

I have already explained that once the shares are sold - to pay for wages / admin costs / $1m promised for field development plan I do not think there will be enough left over to pay for any additional testing and/or development to production.

The project requires

"Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons" quoted from the RNS

I suspect there will be a number of "testing" endeavours planned - these oil exploration companies always seem to need tests to test whether further tests are needed ..lol...

lets just say there are billions of jars of jam - then we will need cash to get to production. Something REY don't have and depending on the price got for selling our shares we may not have. I think both companies will struggle to raise cash on ASX - it seems to be tougher than AIM. Neither company has impressive books at the moment and the SPs has not performed well.

If the project is a duster - and there is no guarantees in oil...then it will be game over too but quicker

you obviously don't agree with me. which is fine.I hope you are right - and the £10k that I turned into £800 hopes I am wrong too. However that is how i feel .

I have given my reasons and tried to back it up with facts where possible.

now if you have anything more substantial than quoting a historic high SP for the shares we hold then I suggest you use it - as otherwise it looks like you are the one who is trying to mislead.

haha...so i quote the accounts and am "wrong" and misleading. (according to you not a fact)

you quote a ukog share price of 10p and angs of 15p - a historic mutiple of what the sp is today - but that i guess isn't misleading???...lol

sorry - but you see the results on any share on AIM when a major shareholder offloads- it ain't pretty.

I think unfortunately your expression "That's a fact IMO " says much about your arguments. it is either a fact or an opinion - and you seem to have a problem distinguishing the difference.

I give my opinion as i see it - I am not trying to lead or mislead anyone. we are all grown ups on here and people have to/ and are capable of making their own minds up. I could be wrong - i already made a big mistake getting into this share in the first place!..lol

Unfortunately too many times over the last few years what i have said have actually come to fruition - and i really wish it hadnt as each time my investment got battered- which is why the share is down 90% in many people's portfolio. This share doesn't need anyone to deramp - it is the gift that keeps on giving

if their wages are the same as last year then yes with the current cash in bank - there will be a requirement to sell shares to pay them. and dont forget there were other admin expenses.

I was actually surprised how little cash was left - I had thought the various raises would have left more - but clearly it went on something.- biscuits? or maybe jars of jam? ..lol

As for your estimate of the proceeds of the sale of UKOG shares. Firstly the shares were 1.43p on 22/2/19 the day of the announcement. currently the sell price is 1.2p - so we are already down approx 15% ( i dont have a calculator to hand so it is only a rough guestimate - before you pull me up on the exact figure - and then accuse me of misleading! lol)

As i said if 130 million shares were to flood the market - what do you think it would do the share price? you certainly wouldn't get the current SP.

ex - there was no implication. my words are there to see

"just over £200k cash and wages are £426k with 3 directors on over £100k.

cost of sales double income generated.

They will no doubt sell of shares acquired in UKOG and Angs to pay wages. How are they going to fund new venture? 1 year and it will all be over"

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cash is as per books. i haven't denied the existence of shares or the need to sell them in the future - but that is not cash in bank - yet

I do believe there is a strong possibility that it will be over in one year. The money from shares will presumably pay for $1m promised already and wages/admin expenses. however we will no doubt need to do a series of tests on the new site before even embarking on possible production if it is not a duster.

. there is no way that what we have in shares will cover that unless something phenomenal happens at ukog and angs.... and i can't see future raises on ASX given DOR and REY reputation.

I have to be honest I wasn't aware of REYs financial position - it is quite clear that as things stand they don'yt have the means to devlop the project

might be wrong. time will tell

So I quote the figure from the accounts and that is wrong?

So how much cash have they got? You don't count shares as cash in accounts - it is not accounting procedure for obvious reasons - ask any dor holder. Lol.

Firstly touch wood it doesn't but ukog and angs share price could be badly affected by poor test results /wrong mud /lost drill bit etc etc. Secondly dumping shares will flood market making sp go down etc - assuming there are buyers wanting to purchase in the first place.

If you don't like or agree with my opinion - that is fine. But when the accounts say what the Cash figure is you can't really argue against that. Sorry

EX - it was not an estimate . That is how much cash they have as per their accounts . So it is a fact.

REY are another loss making company $8m in the last account with no income.

They had $14k as of 31/12/18 and a helluva lot of current liabilities

They need DORs cash. we are providing $1m for the exploration.....yes we can sell shares but as soon as they get dumped on the market the price will go down affecting how much we get

ok..so we explore...and there billions of jars of jam for tomorrow - how do we get the cash to get it out? how long will it take....how easy will it be for DOR to raise cash on ASX to keep the lights on and the top up the biscuit tin?

Always interesting with DOR

looks fooked to me.

just over £200k cash and wages are £426k with 3 directors on over £100k.

cost of sales double income generated.

They will no doubt sell of shares acquired in UKOG and Angs to pay wages. How are they going to fund new venture? 1 year and it will all be over

daltry - I sold £33k after hook up - just leaving £20k still invested - which is my free carry.

It is risk management.

It will take time for first oil. There could be delays - we have seen them so far. delays will hit the price whilst i can't see any driver for an increase while we wait.

I would prefer to be all in on HUR as I think it is a great share - but i think in the current climate you need to take a more cautious approach to protect capital.

yes what i affectionately refer to as the 5% shuffle. sell 5% or multiples of to pump and dump for placings - to pay wages and few dodgy scams - like our greenland investment.

if you look at the chart this is slowly be ground down....to zero.

there will be a few more pumps and dumps with this new investment - however it will likely come to nothing - with the punters paying wages / tests / geo people etc. in any case original investors will never see their cash back.

london - lenigas is nothing to do with investment - since nobody ever makes money by investing long term in his companies. Sure if you time the pump and dump right you can make money.

Still I doubt the aussies will be taken in as easily. He has already been rapped across the knuckles with ASX - so he best be careful.I can't see him back on AIM and the lobster pot is going nowhere fast. it will be interesting to see where he can go next

1750- the benefit is surely that the main listing has a better reputation ? AIM is considered a pile of poo( and i dont mean price of oil). Any AIM companies that consider main listing get a huge validation and rise in SP

if the company has the great assets it proclaims the market capital will get there in the end through value rather than pump and dump and speculation or investor sentiment .far

liquidity comes from investors / traders wanting to buy and sell at the same time. Believe me I have experienced AIM being very illiquid when I wanted to sell and so did everyone else.

The only benefit I can see is the ability to raise cash from placings that can pumped and dumped.

unfortunately this was always a fear of mine. i suspect most of us got in this share for the kimmeridge dream. we waited and suffered for years with the jam always on the horizon.

we have now sold our % for a very low value if it does come good with the billions. ukog and angs will no doubt do more placings and our shares in the companies will get diluted.

the OZ play still needs approvals and exploration etc - so basically we have sold our kimmeridge share (with possible production being near) to fund another companies exploration.

yes lenigas is a smart cookie - and money is being made - but it is unfortunate that he doesn't use it for the good of the PIs who put money in his ventures. Still with every company more and more people get wise to him. one day he will run out of mugs