Member Info for CynderLad

Adrian, aka Molly, you should not give up the day job of putting new stickers on fire extinguishers. That must be really tasking.

No Ian12, I insist that you show us the math. Come on, how many houses would that supply and how "transformational" would that be? Do you really think that a minor operation like that needs a CEO on the money that Salmon Slacks is on? It's a tiny tiny project at best. And it would need 10's of millions invested. It's a dead business case from day 1.

Ian12,

"her" ? LOL

Go on, tell us how many homes 200,000 MWh will serve and what that would be worth in revenue to a tiny company providing that output!

You can laugh it off as much as you like. But 200,000 MWh is small fry. That's not worthy of anything more than 2 employees and a MCAP of £1mm. How can Salmon Slacks sell that as the future of a company that he once wanted to make a mid-tier operator. The cash investment up front will never ever make a return.

What UKOG PI's really need is 1.21Gigawatts of energy and a DMC DeLorean, clock set to 2015. Then they can share the downfall of the company and present position with their younger selves.

LOL.

We used 10,199 kWh last year, just 1 household.

200,000 MW hours is tiddly.

Ibug,

The dimwits don't get it! Salmon Slacks will continue with these daft plans for Geothermal / Solar at HH. It's a joke. I know a local farmer who setup a 5 acre site not far from me. Solar on that scale is a cottage industry for small privateers, it's not for PI's to invest in via an AIM listed company.

Its nothing more than a smokescreen for SS and his mates to use to mask their true agenda; remuneration until retirement and sod the costs of abandonment, someone else can pick those up when the company delists and then folds.

All in my opinion of course, but folks should do some proper research before they buy into the scheme akin to that pedalled by a Nigerian Prince.

If UKOG are going green, then it must be time that they registered a new company with Companies House, oh wait, they already have.

As for going green, maybe it is time for a change of all management roles, as they'll no longer be an Oil and Gas company, and their expertise in this other field will be very limited.

If a brand new junior company were to be setup, then how much would the CEO and other directors expect to be paid? It would not be anywhere near the current remuneration. So go ahead Salmon Slacks, prove your worth! You'd struggle to find a single punter willing to put £5 on the table for any new company where Salmon Slacks were touted as a CEO.

Got to laugh.

Please make an attempt to improve your "reading between the lines" skills.

That RNS this morning is the death knell for oil production at HH. They have commented on economic life of production, that clearly sends out a message that HH1 will be shutdown at some point in the next 12 months. Seems pretty obvious to me. I don't see them making a case of HH2z water injection now, simply too much risk. I don't see them going back into the Kim in HH1 either, yet again they hold back the bad news; they would have switched back to Kimmeridge by now IF they could have, dry oil, no water disposal costs, and higher production rates, yet they stick with the Portland and its increasing water cut, water treatment/disposal costs and falling output.

There is no case for HH3 either. All in all, UKOG have deliberately misled investors and misinformed them for the last 12+ months. They are as trustworthy as BoJo!

As for the joint venture RNS, so where is all that cash going to come from then? It doesn't grow on trees and neither partner has any cash reserves or profitable revenue streams. SO get ready for a failed attempt by both partners to raise the cash needed, they have close to zero chance of raising the fund needed. That aside, the output from the partnership is hardly ground-breaking. I don't think they have any chance of getting a Government grant to help them, that's unless Salmon Slacks is a Tory donor with mates in the right places.

All in my opinion of course, but this news is very bad news.
Turkey is a dead duck, HH is soon to be shutdown for oil production, cash needed for BB abandonment, and Loxley is a pipedream of the CEO to try and get him another 2 years closer to retirement.

In the meantime, the CEO sits at home and continues to refuse to do any form of true investor relations or interviews. Ask why that is!

--- All in my opinion ---

Sting,

£1.4mm sale then. Sounds a nice round figure.

Be like Sting, but don't get stung (by UKOG).

Rapid monetisation was from the viewpoint of AME, I'm sure that they were very grateful to take a nice wedge of cash of UKOG, some of which they would have considered as a "handling charge". AME would have made a chunky profit out, it would not have been a neutral transaction whereby they only charged UKOG for the costs incurred. Wakey wakey eggs and bakey, don't you see what they did?

Because it is a lifestyle company with too many folk getting close to retirement and happy to take the coin.

You do realise that Mardin is ~130KM away from Siirt.

So that is confirmation that UKOG have chose a bad license in Turkey.

Further confirmed by the fact that AME deliver < 50 bopd per well drilled in that area!

Furthermore, UKOG's application for the other 3 licenses all failed, another example of UKOG trying to break into a market where the Turkish gov will not give anything half decent to a down and out junior oiler.

Rampers, you do really have to try a lot lot harder.

There you go, as predicted, the SP goes sub 0.1p.
Just wait for folks to try and sell large volume holdings, good luck getting anything above 0.1p.
This will slide all the way to 0.07p by end of Jan.

- All in my opinion of course, charts are fairly conclusive -

What's that got to do with the price of fish.
1) Its a different company
2) It's a long way away from Basur
3) The surrounding Basur wells provide a better insight on what to expect (if anything) from the AME effort

You might as well be quoting news stories from Iran or the US.

Apex are "yuge" in the USofA, so much so that they don't exist any longer.
Matt Cartwright Consulting has been shut down.
BuntyBay Limited was never registered in the UK, and it was never revealed where they were registered, Virgin Islands anyone, a way of getting an interest free loan that never has to be repaid.

100% dodgy related party payments.

An summary from the 2019 accounts:

Apex Completions LLC, Allen Howard is a director and shareholder. UKOG paid them £531,000 in 2019.

Cartwright Consulting Limited, Matt Cartwright is the sole director. UKOG paid them £200,000 in 2019.

Bunty Bay Limited, Stephen Sanderson is a director. UKOG paid them £96,000 in 2018.

And folks trust this board to make the right decisions? That's a lot of cash for services that were never backed up by evidence of services rendered. They could have delivered a great service, or close to nothing at all, but because UKOG do not publish the details of what was provided, then shareholders of UKOG are left in the dark.

Is the above a testament of a well run and clean cut operation, or something else?

All in my opinion of course. Except the financial figures which are taken from the 2019 accounts!

Check out that RNS from the 01 February 2019 for details of the "related partner contract agreement". Given Apex were paid so much money by UKOG, then what did they actually produce? Where is the evidence that they provided anything? Where are the documents, where are the findings, etc, etc, etc....

Good luck finding anything out about Apex Completions LLC, they used to be registered in Texas, but surprise surprise, they're web-site is no longer functional and their company does not exist in the Texas state register.

I wonder why!!!

All in my opinion of course.

Or how about Apex?
Bunty Bay (SS on the payroll) did receive payments from UKOG for services rendered.
APEX Completions (current Chairman on the payroll) did too.

Question is whether AME also needed the services of these two world class companies to help them drill for dust in Basur.

Moving operational responsibility offshore and paying a "partner" to drill is a great vehicle to mask any such dealings from the UKOG accounts. They don't need to mention anything other than how much they paid AME, who AME chose to pay is their business.

Just a few thoughts, who knows if anything like this is happening or not? Don't expect the UKOG CEO or his chums on the board to comment on it.

Ouch. How long until a 0.09xx trade?
What will happen sub 0.1p?
Freefall?
Worry not, the CEO will bring himself out of hibernation to update the market on all the great stories that UKOG have held back for months now. (hmmmm).