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I'm old enough to remember the death throws of Laker Airways and just before the end there was a surge of buys from people who just were hoping for a miracle to make a quick profit. Good luck guys and girls but I hate to tell you but miracles are very rare nowadays.
I read that there is going to be yet another share issue and therefore dilution for existing share holders. If my maths are correct that will mean the equivalent of nearly 4 shares for every human being on planet earth! Who in their right mind would want to buy them? If they fall below .001 a share they will be below there nominal issue value. Can't think of any company that has still continued to trade in that position. UKOG have been ground breaking for all the wrong reasons. The gushing going on is the downward spiral of the share price.
Thank you Insidious for the insight into ukog. I no nothing of the oil industry but do know about running a viable company. There is financial strength and then credability both in the industry and in general. It seems to me that ukog has now lost all of these and really has no future. Sad days for all those like my friends who invested their savings.
I and a good friend talked about investing some savings in ukog back in the Gatwick gusher hype days. I came within a button push but he went ahead. What was around £10k is now almost worthless. If you project the decline we are in the ,01 area by the new year if in deed it is still trading.
I am sorry to say that with its loan obligations ukog must now be very near insolvency. The end could come very quickly. I cannot see any takers willing to take on another share issue dilution for a cash injection so I think this is very near the end.
I have followed ukog shares for a long time but not commented till now. I don't know anything about the oil and gas industry but do know how to run a viable company. Ukog is sadly no longer viable and now that the .05 share price has been well and truly broken it will now fade away. It has been fun to watch the debates on here but all good things have to end. With ukog the management has, in my opion, let everyone down. There is just one hope left that a white Knight might take it over for a nominal amount but I can't honestly see that happening. So as the heading said, hello, good luck, good bye.