Member Info for Crocqman

Agree washers.
Was suggesting people not panic when SP fell following the opening bell after the RNS yesterday. Felt the market may take some time to absorb the news and we would finally get through the 2p ceiling before close today.

Sad to see the carnage of some posters on here the last couple of days, some having lost (on paper) a lot of money (I am down about 25%). Many do seem to have overinvested and believed the hype of some on here and may have invested more than they can afford to lose which is sad to see. AIM is not for the faint hearted. I may be down here, but still roughly even over all my investments this year, so things could be worse.
It can be tough to take days like these, but I'm holding here until testing is complete and will review from there, but having been invested for almost a year and happy with my top up prices throughout this year , I still see this as a long term play, but the hoped for mini-boosts at each stage of testing have just not materialised as many (myself included) were expecting.
My more realistic short term SP target is closer to the 2.5p to 2.75p range after all testing was complete (although I initially felt 4 to 4.5p was achievable when the Portland results first came out).
Chin up people. Have a good weekend and we'll go again next week!
gla

I'm feeling really stupid as I can't see the SP at 10p.
Must need new glasses.
gla

Yes, let's give it some time.
People have been preaching patience for weeks while the majority clamour for (apparently late) news. News hits and it's all doom and gloom within half an hour of the open as to why the SP has not rocketed.

How about we give this a day or two to see where this great news takes the SP as investors digest the news and make their investment decisions?
Expecting some more volatility, but after a long wait at the current range, still see this news to take us past that 2p ceiling in the coming days and hopefully hold above there, and we still have KL4 to come.
Sentiment returning and some good volume days should see the SP boosted.
gla

The discussion about SS having 'no skin in the game' always seems to revert to the options discussion.
Many, myself included, are not talking about options when this subject comes up, the question we are looking to discuss is why has SS has never purchased any shares in UKOG, put his own money on the line to show his confidence in the company and project this confidence in UKOG to the market?
True, that he is not obliged to, but as I have stated before, I am aware that there are small cap Fund Managers who will only consider investing in a company if management have put there own money in.
UKOG could be missing out on II investment solely due to SS not being a shareholder. It may be a small point, but imo it is a relevant consideration and is a disappointment for me. Fair enough that others will disagree on this.

Still hoping for a positive testing update soon.
gla

chicken,
As requested yesterday, please provide the evidence to back up your 'fact' regarding the 2-4 years for a production licence.
This is not the first time you have posted 'facts' and not been able to back anything up.
thank you in advance.

Think everyone needs to calm down a little.
gla

The time to care about shareholders is once in production via dividends, etc imo.
As gwilliams stated, the current focus should be on testing, proving the concept, confirming commerciality, but also wooing investors as there is little doubt that further fund raising will be needed at some point.
True, that some visibility from management could be better (not via RNS, but through PR, interviews, etc).
The interest/concern for shareholders will be how any future fund raising is done (e.g. placing, corporate loans, partnership agreement, etc).
The key for me is to attract large investors which will further attract other investors, make fund raising easier with options to be considered to prevent further share dilution, which will help boost the SP.

I know there is a lot of talk about being fully funded through 2019, but the RNS was quite specific that it related to current projects. There will be additional funding requirements once testing is complete and we move to the next phase, and although any income from the UKOG % of oil currently being produced will offset a lot of additional costs, there will most certainly be a need for additional cash at some point (during H1 2019 is my guess).

Not trying to de-ramp, but there are still many unanswered questions and PI's do need to be patient. The stagnant SP and comparisons with ANGS do not help, as the petty rivalry between some posters is all designed to wind up investors.
I am in both, and like many want all the weald players to do well.

Interesred in genuine thoughts of other posters (rather than nit-picking, or abusive replies).

gla

Almost 4 hours of you 2 'droning' on trying to get one up on each other.
Please give it a rest now. Shake hands and move on.
thanks
gla

When I said Xodus report, I did mean the reference to it in the 18 Oct RNS, true that we have not seen the actual report.
Would we expect this to get published on the official UKOG website at some point?
Not sure why this should not be the case, presumably it is not something that should be kept out of the public domain as investors would want to peruse this as part of their due diligence into the company and its' operations.
gla

I think most can agree that a testing update should be due soon as they have been clearly working on one, or both of the Kim layers in recent weeks, the actual timing of any update is all conjecture of course.

I am unclear as to where we are at with the testing, was K3 done before K4, or vice versa, and is the intention to report on both together, or separately (I thought it was indicated to be the latter). Does anyone have a clear opinion as to the current testing status as there are a lot of opinions as to what stage the testing is at, which layer, etc?

Clearly, any 'official' reports will take time once testing is complerte, as we saw with the Xodus report for Portland.
I am being patient, btw, just feel that any latest testing update is taking longer than the evidence being provided from the eyes warrants. Just my opinion.

gla

Jungerns,
Is that in the IM area of AXA that you work?
I worked at the IM office in St Pauls (Newgate St) as a contractor for 9 months around 5 yeas ago, spent a week at the Paris office too at La Defense.

I would take the 27 June RNS as around the commencement of testing too.
It seems quite clear from the RNS and although no confirmation of the actual start date is given, it suggests to me that 27 June is the latest possible date with all equipment arrived on site. Not sure how soon an RNS would have to be made following commencement, but this makes more sense than starting the clock when oil first flowed..

I make that around 12 more days (max) to the end of testing.
Hopefully Heid's predicted news update of 14th will be right, as I think they will announce K3 and K4 separately and news must be due soon for whicheve one they tested first (still not sure which way round they were testing these layers).
gla

Agree with the posts here on the subject of feuds/beef. The constant aggravating by certain posters on LSE with the twitter guys is really pathetic and it is not one way either.
I have posted before that I feel the twitter guys are starting to lose some credibility with the obsessive quoting of LSE posters on their twitter feeds and their clear bias towards UKOG is starting to add to that.
If you have beef, keep it on twitter, and if you don't have a twitter account, don't post abuse here 'cos you know the twitter guys will read it and respond accordingly.

Reporting of abusive posts and posters on here definitely the way forward in my opinion. Let's all behave like adults and show some respect to users of these boards. It is possible to have a difference of opinion and a healthy debate without resorting to insults.

Good luck to all genuine investors in the weald, regardless of your trading strategies.

When the SOLO deal was announced, everyone was bending over backwards to say what a great deal UKOG got, buying them out on the cheap and what a master SS was for taking advantage of their cash situation.
So, why would SS now care how much they would be selling the shares for?
People clutching at straws, perhaps. He cannot hold back on releasing price sensitive information as most here know full well.
SOLO are not the reason for the stagnant SP imo,
it will only go back above 2p once a testing update is released.
Volumes are down currently, as is sentiment.
ANGS currently seem to have the sentiment and price momentum, regardless of the pros/cons of each company and posters' own loyalty (I am in both), although at the time of writing, I see they are down at present today.
Like many, I expect news to be good. Patience needed.
gla

I'm not so sure that II's would immediately flip any placing shares.
II's tend to perform due diligence, etc and would only partake in the placing if they have belief in the company, management, strategy, etc.
The placing would be offered to existing II's and potential II's specific to this sector.
They would need to be made 'insiders' prior to being presented any details of the placing, so would not have much time to research and partake unless they are already familiar with the Company. There may be meetings/calls with management to outline the placing too, all of which PI's would not be privy to.
Unlikely imo that any II's would take a punt on a quick profit, but given the potential price in 2 weeks' time when the event will take place (subject to approval) then of course, this could be a good opportunity (although they will be locked in already to commit, if approved).
Now, the 'other investors' noted in the RNS are a different matter entirely. Who knows who these individuals might be.

Just my opinion.
gla

They may be selling either as a money amount per day, or more likely as a % of adv, in which case there will be lots of smaller trades across the day.
I think you would only see large round trades where there is a specific buyer looking for them and the brokers will match the orders up.
I am not convinced they are still selling. We should find out at their investor meeting though in 2 weeks' time.

Just by coincidence the 250k trade at 1,95 mentioned by Sageman (presumably at 09:17) is the same amount as my Buy at 8:17 today (@1.945). I expect this later one is a Buy also even though the ask was raised at about the same time. Not a particularly large trade in the grand scheme of things.

gla

Agree.
Final top up for me this morning.
Averaged just under 2.1p now and awaiting news to break us through 2p
gla

I always felt that they would retain some shares once under the 3% threshold, nothing more than a feeling though, but when it comes to raising cash for projects, this is an easy source for them, and at a good return even at the current SP.
With the number of shares in issue, disposal within a reasonable timeframe is possible whilst sticking to a comfortable % of adv.

Whether they are still selling is speculation really, or educated guesswork at best imo, and I am not convinced this is the reason for the stagnant SP over the past couple of weeks. It won't be long before we know. though Their investor meeting on 22/11 should be a lively affair.
Are there any UKOG holders who are also SOLO holders and have registered to attend?

gla

Some blue on the board. Small rise, but let's talk about that.
News expected soon, 2p to be tested perhaps?
gla

For me, option 2 (very good news), but with a resultant SP closer to option 1 (imo closer to 2.5/2.75 max).
Given the difficulty to break the current 2p ceiling of late, finding it difficult to see a bigger rise in the short term.
Perhaps a little pessimistic for some, but happy to be proved wrong.

Hoping for some news to arrive by Friday.
gla

People are so quick to jump on other posters.
If you took the time to read the post properly, DHC clearly states he sold some shares. Some. Not all. Meaning still invested. So why the need to 'run back to the ukog board'?
Like many, I am invested in both (some in ALBA too), so post on both boards at times.
Nothing wrong anyone posting on any board, invested or not, if posters have a genuine opinion and can add to the debate, or provide an alternative viewpoint.
As someone else stated earlier, emotions getting the better of people.

Nice blue start today, hope it continues.
gla