David Minchin, Helium One CEO outlines Rukwa Phase 2 at London South East live event. Watch the full video here.
Quick, fire up agent Ocelot and his Boiler room crew to ramp the stock on the back of a single tanker. How many tankers in the last month? Has output dropped to 20 bopd? How's that water cut looking.
OGA stats out soon covering another month. Sando can run but he cannot hide as you cannot withhold data from the OGA, and the data makes for pretty dismal reading.
So, yeah, ramp the tanker visit, but the revenue from one tanker is not enough to pay the security folks for a month, let alone cover the rest of the operating costs at asset level.
Still no news from the quietest CEO of AIM. Maybe the Sheriff of Dusterville has locked him up.
Turkey duster news due any day, just wait for the SP reaction, 0.05p incoming.
All in my opinion of course. I'll not be persuaded by "initial flows", "smell the oil", "great cores", etc, etc. I'll be looking for the parts that they don't mention, because as ever, it's the bits that they conveniently leave out that reveal the real reflection of status.
Anyone expecting UKOG to be a long term oil producer will be disappointed. They are nothing more than a short term cash cow paying the for luxury lifestyles of the BOD. Of course, just my opinion, but show me facts that tell me I'm wrong. UKOG has delivered nothing but operating losses and wasted capital investments.
TS, you can analyse and surmise as much as you want. Not sure why you are so obsessed with me.
Instead, go ask the basic questions to the CEO. Why is someone who is not invested providing more debate and conversation on a chat board that the CEO is? Why is the CEO not providing investors the opportunity to ask him questions directly in investor calls? Why has the CEO not bought shares yet despite the commitment through the director share ownership scheme? Why has the CEO not done any real interviews for 12months+?
TS, it's a reflection of my annoyance in spending considerable amounts of time picking through the accounts, picking through RNS's with an initial view that UKOG was worth a small punt. To then realise that it's certainly not worth a punt.
But I continue to post here and am open to debate. UKOG may give an opportunity to the pump and dump types, but that's not my bag.
I do feel sorry for the LTH'ers would bought in prior to Dec 2019 and are now sat on shares worth ~17% of what they were just 18 months ago. Guess if you are one of those, then you averaged down.
All I see is a scheme aimed at raising cash to pay the BOD. A BOD and a CEO that refuse do to investor calls. Why are they so against doing an investor call and providing open and honest answers to open and honest questions?
My view; if you know AIM, and know the game, then you'd only consider UKOG as a pump and dump trading stock.
Of course, just my opinion, but it's served me well as I invest to make £££ not to put it into the CEO's pockets.
Lucan has arranged £12million funding on a gas play at Saltfleetby that is anything but nailed on. The CPR is decent and the business case looks a reasonable prospect, but certainly not nailed on. He's done wonders getting the finance arranged, that must have been a massive struggle.
Compare this with some other small cap oilers (e.g. UKOG) and the CEO's out there who wish they could get such a deal. Indeed many fail and have to revert to convertible loans and/or placings. Hats off to Lucan, he has helped minimise dilution and shows a duty of care to shareholders through these actions. If SFB does not work out, then the company is dead, but if SFB does work out, then the MCAP and SP will reward LTH'ers on an equitable basis. This is so much better than other small cap oilers who are diluting shareholders value quarter by quarter to the point where their potential return on initial holding as a LTH are pretty much non-existent.
Hats off to Lucan. Love him or loath him, he got the finance deal done and shows a level of loyalty to investors. Could he buy some more shares, yes he could, but I'd rather him at the helm of ANGS than someone like Steve Sanderson (CEO of UKOG) who refuses to show any loyalty to investors and refuses to do investor calls. I'm invested in ANGS, not in UKOG, and it is 100% the actions of the CEO that make the difference in my small investment.
Cannacord. They invested in UKOG last year, took a decent chunk but have not issued a TR-1 to say they released those shares.
Not sure if they are a longer term player or just here for a quick return.
However, it does bode well for Egdon, and specifically for Wressle. With UJO having a nice share on Wressle, then this does represent good news. Much harder for a II to justify buying chunks, whereas PI's just buy based on one opinion (their own) and limited challenges (if any).
BMD up to his old games? Just waiting for the next update from him claiming that "the ink is drying on a sale to BP, RNS out tomorrow" style claims. For the avoidance of doubt, I am making no such claims, but I would love to see such an RNS land.
Only an inexperienced manager would bring on two very fast players with fresh legs in the 119th minute of a game against a team who hadn't changed any of the back 4. Kane is a cart horse, his legs were gone. Same with Mount. The Italians were gifted free time and space on the ball and ruthlessly dominated possession. Southgate missed the opportunity to seize the initiative back and play a high pressing line with fresh legs. Italy had the initiative through their use of subs and Southgate missed the chance to wrestle that back from them. In simple terms; Southgate is just not good enough at a time where there are lots of weak teams in international football.
However.... The Scots will be happy; Boris will rescind the offer of an extra bank holiday in August, but wee Jimmy Krankie is probably going to serve up two bank holidays in celebration of the English being outplayed by a team with 2 OAP's playing at the back. One could write a song about it...
To a discount store near you soon.
Will the SP drop to the 0.15's then the 0.14's?
Longer term I see 0.03p and then delisting, but the timing will not bother Sando as he's going to be retiring and doesn't care about shareholders; If he did care, then he'd run a series of investor calls and do the occasional interview.
As for the BOD not buying shares, I'm sure that they'll just argue that it was a closed period; but that is not an acceptable excuse as their share ownership plan was already announced and they should be buying even if there is a closed period.
The boiler crew ramp team don't like the harsh truth and stone cold reality.
Their problem is that they can only read and process what is presented to them, they don't have an eye or the knack of being able to spot what is not being presented to them.
For example, the RNS's with updates on Turkey on 21st June, 28th June and 1st July all gave lovely little snippets of info, but at no point did UKOG refer to the drill being fully funded. The placing RNS came as no surprise to those who know how UKOG operate and to those who know how to sharpen a pencil and review annual and interim results. However, despite the obvious case of UKOG being very short of cash to pay AME and to cover UK overheads, the boiler crew were working overtime to ramp the share, indeed, many were still saying load up now at these cheap prices. Surely they cannot be that low on the IQ front (although some clearly are), but despite the obvious manoeuvres by Sando and his chums, the rampers were still beating the drum. Why would they do this, one should ask, why indeed?
No doubt, they'll be replying to this post calling me a liar and such like. But look at my posting history and you will see that I've called this right for several months now. I am backing myself to continue with that trend, with my opinions on Turkey being that it is a dead play that will offer nothing more that a short-term opportunity to pump the SP, dump with some profit and then repeat the process again.
Not sure how old Sando is, but he certainly looks like he is working towards retirement. SO my question is, how long does he intend to continue these games using PI cash? Will he see out another 2 years in the post, could he be ousted? Or am I completely wrong and Turkey will see UKOG become a behemoth of the mid cap oilers rather than the confetti spitting monster that it currently is.
Of course, all the above is my own opinion, and there for debate purposes on this "chat" board..
The open offer is going to keep a lid on the SP, just as the placing is.
So imagine this if you would.
1) PI takes up open offer and buys a chunk of shares for 0.18p
2) Good news lands, and appetite for shares increases
3) A % of PI decide to sell shares bought for 0.18p creating a large volume of shares being sold into the market
4) What would the impact on the SP be? What % of PI's would be happy with a 10% short term profit?
5) What % of PI's are actually that interested in growing their existing ownership by 1/5th?
6) What's the average speed of a swallow?
To counter the above. As stated earlier, I believe the open offer to be nothing more than a ruse, I'd be amazed if UKOG can raise anything more than 10% of the cash mentioned in the RNS. Hence, the volume of sells into a spike would be lower than one might imagine (of course, you then have to factor in the savvy traders who know how to milk this share).
The open offer is a lame duck. Simple as that.
The only hope Sando has is to get the boiler crew team working in full steam pump mode, backed with a load of photos and some initial drill results.
Otherwise, who in their right mind would take up the open offer when they can get a discount at market price.
However.. the cynic in me thinks that this is nothing more than a ruse. Is the open offer is a smoke screen? Did they really think that they could raise funds when the placing shares are on the market for the period where the open offer is available? Surely not.
Like I say, and to paraphrase Princess Leia "Help us Obi Wan KenAME, your photos and drill results are our only hope (to help our boiler crew team ramp this to the nines)"