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There's winners and losers in business, in this case YA/RF may be getting stung, the details on the deal are so limited that it's not really possible to pick the bones out of the masked truth.
However, with regards to Adrian, he's a loser in life, at everything. Education, Women, health, investing, friends. He's a low-life. Avoid debating anything with pork!
Ibug, the hydrogen storage is the last hoorah for SS, he has nothing else to pump and he needs something to help try and attract a new finance partner into helping them with a cash raise. Unfortunately for Sando, there is nothing that UKOG will be able to do to pump the hydrogen storage narrative; they are flat broke and outta time, and there's no way the Tory gov are going to throw any money at UKOG, especially with Labour ready to take power at the next GE.
Sando wants another 12 months salary, and he'll spin any jackanory he can to get that funding. Of course he knows that means that another load of PI's will get spiked and end up on a huge loss as will existing PI's who hold this dog at 0.07p.
And that says it all, he will rob PI's to pay his own salary, find me a decent honest CEO that would operate like that!!! And then tell me why the BoD have not booted him out!!!
Ocelot will still be saying UKOG is a strong buy with a bright future when the administrators are called in. Not once has he ever called out a negative about the company. Now who would only ever see the positives? Yep, must be paid or staff. Probably SS. I'd love LSE to be forced into giving up email addresses and then those being tracked to the individuals at play, there's a lot of illegal and immoral stuff going on with this company and the scammers should be outted.
Nobody is lending UKOG money, their finance pals are very clever cats, past placings have clearly been forward sold with huge discount meaning that typically they have shifted over 50% at a 10-15% discount before the market knows what's actually happening. Yes SS is notorious at issuing RNS's much later that should be the case. Their finance pals are not lending them money, they are selling shares to make a profit, the cash they give UKOG is ~90% of the proceeds of the shares they sell.
So now more importantly, with the SP in a huge spiral, which of their old finance pals would want to take a risk that they can sell enough shares to make a profit? Answer: none.
An experienced "chartist" would not take 2 looks at UKOG based on the "a few buys and UKOG will rise" comment.
UKOG is losing money hand over fist, ridiculous overheads and < 3 months cash left.
The GM had to be postponed because their finance mates were voting against the motions, leaving UKOG high and dry and facing imminent wind-up.
The CEO had to get a shed load of extra shares put into the EBT to get them over the line on the resolutions at the GM. Without that completely scandalous approach, the company were bugg'red.
Right now, UKOG have HH1, which is producing a small volume of oil and significant volumes of water and is following the trend that will see it P&A within 5 years.
They have no other assets of value and a cash call at Loxley that is in excess of £12million, which they will never raise, and they'll not get a partner based on the dodgy CPR.
So, what's next, well, there are 2 options.
1) cash raise to enable the CEO to get paid for another 12 months, or
2) failure to get further finance, leading to the company folding by summer 2024.
Sando may try to squeeze it out a month or two longer, but that will require him to lay off lots of staff, which I am sure he will consider and it'll not need an RNS< it'll just happen.
Buy today and come Easter you will be sat on a minimum of a 50% loss.
There is no good news to come, nothing.
Anything less than 1000% up is a net decrease.
For the newbie's who just turned up. Consolidation of 1 for 10 just processed.
If you bought yesterday then you are 17% down right now. Even Adrian can check that by looking at the value of the £100 he invested yesterday. LMAO.
This will quickly drop another 30%, so beware of the rampers. It's the final throws of a company that is soon to fold led by a CEO that knows he's been outed as a liar and scumbag.
The GM matters not, you don't need to do any deep level analysis on the fundamentals. The cash position is very weak, operational losses are huge, overheads from the overpaid BoD are significant. In simple math, the company has less than 3 months of cash left to operate, then it's game over. Oh and for those rampers who will claim otherwise, go on then, top up, break the bank, as the only hope of the 3 months being extended requires UKOG to raise more cash and that means huge dilution (if they can even find a partner to help them with the placing, they just burned the bridges with the current pals). Consolidation will see the SP reach 0.065p, LOL. It will soon return to 0.02p and then further south. The MCAP will soon be < £0.5m and the cash will be gone, as will the CEO who will leg it over the horizon to somewhere warm where he can dodge being arrested (which he should fear).
LMAO.
You should know how the game works by now....
Huge drop over a few weeks period. Then a single day of a slight rise..
You should ask a fisherman about how he uses a lure.... Yep, another one nibbles at the bait and bang, hooked.
Then you get the repeat for the next fish. The lure is there, how many fish get caught in the latest scam trap?
Wonder if he is paid per post or whether he is on the UKOG staff list.
Note how Ocelot never ever sees the negatives, only ever the lies which are dressed as positives.
Now, tell me, who in their right mind would only ever see positives in a company that is a full on scam lifestyle operation!!!
A company like ANGS with the CPR they had for SFB, the RBL options available MUST have been better than the one they signed off on. It smacks of inappropriateness and begs the question "just how much has GL had in bonuses for the ££££'s that the finance folks have made?"
Sando needs to keep an eye open over his shoulder, there will be considerable risk of legal proceedings, hopefully he is put behind bars and made to pick up the odd bar of imperial leather soap. Then he'll know what it feels like to be shafted
SS will use every penny in the bank account to pay his salary to the point where it reaches £0.00.
He will not care about the legal obligations to P&A Broadford Bridge, he will not care about HH.
Once the company folds, the administrators will sell off HH to the best offer, there will not be many! What happens to the proceeds? Well, if HH is sold for £1, then not much. If it is sold for £250k, then that surely has to be put toward P&A of BB.
I would hope that Angus buys HH, and runs it as a skeleton operation. There is oil there, and that water injector should mean that a meagre operating profit can be made. But let's not beat about the busy, HH is a maximum 5 year operation. The P&A costs will be significant.
Is the kit at HH worth much? Well not a great deal, but maybe of use to Angus going forward.