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AIM is what it is, do not confuse that with UKOG.
UKOG are run by a CEO and a BoD + Chairman that are there to exploit the market to pay their lifestyle. Yes AIM is a vehicle that allows them some PR to execute their plans, but AIM is not the reason why UKOG is such a dog of a company.
UKOG will delist at somepoint in the near future, I am amazed that they got a placing away, but look at that discount, and can they continue to do that with an ever decreasing capability to create a pump and dump opportunity?
Once Turkey is wound up, which will not be long now. UKOG will be left with HH and Loxley. The hydrogen cavern is nothing more than a joke.
HH is what it is, will PPP really stump up that amount of cash to drill a duster when they could access other opportunities elsewhere that would offer a more robust opportunity for success? DL will almost certainly pull back from the HH3 financing, it was nothing but smoke and mirrors from him.
Loxley will cost a fortune to setup for drill and test, money that UKOG will never raise and I am 99% confident that they will not find a partner to carry the costs.
Where does that leave SS and UKOG? Well it probably means that SS has to find something, anything, to provide that vehicle to get further placings away to fund his lifestyle. The company will not make a profit from operations with what it has and the annual losses are eyewatering. In my opinion, he'll probably try another AME special deal, probably something that costs
And that is to fleece the market and shareholders for cash to pay his lifestyle.
Alas, the Chairman and the BoD are in on it too, so they will not sack him.
So, yes, they are all failing on every count from a board ethics point of view, and if you don't get the gist of what they are doing then go research before following any numpty rampers.
BP, folks should also note that the Chairman is completely in on the gig, he had not acted in the interest of the company or its shareholders. A company with a proper Chairman would have seen the CEO booted out many many moons ago.
Of all the red flags out there, UKOG ticks them all:
1) CEO who refuses to do investor calls or interviews.
2) A chairman and a board that refuse to act ethically and protect/uphold the interests of the shareholder.
3) Obfuscation of the operational status at the only asset of any value. i.e. what really happened with HH1 kimmeridge?
4) Half-truths of drilling/testing in Turkey
5) Funding issues galore.
UKOG just need to find £20 million to pay to drill and test Loxley, after all, it'll take them 5 years and Sando will want a pay rise soon. Then another £10 million to put production kit there. LMAO. More gas in my patio bottle.
P.s. Sando is keeping the HH2z injector cash to pay his salary as he knows that they ae on their last legs when it comes to financing. No more placing opportunities, and the last CLN on offer. They'll be lucky to raise £500k at a silly discount in the future, so Sando needs that cash or he'll have to join the crew doing the Fully Monty down his local Polo club.
They drop an RNS out with the license info, but don't take the opportunity to update on Production status or their plans to convert HH2z into an injector, or what they may do with HH1 Kim... I wonder why that is!!
SP going sub 0.02p by mid Jan.
I have a theory that you should treat folks like Mullins and Ocelot as company insiders or paid pork.
That RNS stinks, it does not detail the full story, and it attempts to paint a positive picture.
Go on Sando, tell the market the full story about the loans and how much needs to be repaid.
News from Turkey will be as follows:
The new guns made not a jot of difference, but we thank shareholders for buying more shares via the CLN. Unfortunately there is no oil to be had at the depth drilled, it's just an odour and our latest analysis that this probably stems from a broken gasket on the drill. However, we would love to get more shares away via CLN, so we are now going to make up another absurd story to drag the timescales out another 6-9 months. Cheers for all the cash, merry Xmas. Sanders xx00xx
It's just a matter of time. It'll not make it past the end of 2024 without some serious cost cutting and they will not get any further financing from PIs. They're last placing was the last that they'll ever get away and they'll never get any government funding.
Poor Adrian will not know what to do with all the spare time that he'll have on his hands. All that spare time, such a shame that he's only 2 brain cells and unable to do anything positive for his well-being.