Member Info for CynderLad

Oilman Jim is surely commentating on the wrong industry, he clearly has little sense with O&G plays, so maybe be better sticking to the industry that drives use of the Information superhighway (anagram of ponr). Oilman Jim LMAO, I've had better insights from watching CBBC.

Where is the CEO? (the Bahamas?)
Why has he not done a single investor Q&A session in 5 years other than a very limited AGM? (because he has used all the soundbites from his small collection)
Why no interviews? (because he is a pale comparison to the guys who work in my local McDs and would rather shy away from having to talk to anyone)
Why no Director share buying for 3 months despite there being a commitment from them to do so by way of RNS? (because the campaign to oust the board was canned. The DDSPP was almost certainly a result of the campaign getting close to 10% support to have them ousted. Then when that campaign was ditched, the board decided against meeting their obligations. )

Only those who are underwater would be ramping this dog of a share at present, I don't blame you, but it's pretty obvious that UKOG are done for.

All in my opinion of course.

The simple truth is that UKOG cannot generate sufficient revenue and profit to fund their wild business concepts. There'll be plenty of placings, lots of confetti to share out to Ocelot and his mates to average down, and continuance of radio silence from the CEO who seems to think that conversing with shareholders is a heinous crime.

#TimeforTheWeekend
#BeerTime

All in my opinion of course. Enjoy.

I'd wait for 0.03p, and pray that it can make it to 0.045p.

LMAO : "Fifty Million is the investment necessary to drill all the wells and the surface facilities"

Look at the original CPR and then the 2nd CPR that Sando got Xodus to *update* based on input from other paid consultants to re-process the same data (using a more favourable model).

How much is the gas at Loxley worth? Pick a number out the air and discuss. LOL

Don't tell them your name Pike.

You better sell then Ocelot. 64%, wow. Barchart is such a great resource, wait hang on, it's a bag of horse.

1) Turkey is dead, cash is spent on a hole and broken drill bit
2) Loxley, SCC will lose and UKOG will only get their legal costs refunded. Then they need £6m+ to drill and EWT when other exploration in the same area showed it to be a poor play.
3) HH, wow stabilised rate at 100 bopd, but water cut is still there for all to see. UKOG yet to comment on water disposal costs in context of HH being an profit making asset. UK overheads still considerably larger than the FULL revenue from 100 bopd, so it does not sustain the BAU *running* of the company, let alone cover any further cash calls.
4) HH, HH2z conversion to injector. Good luck convincing the OGA with that, but if they do, then it's £1m+ cash to convert
5) IoW. LOL LOL LOL LOL LOL (enough said).

UKOG need 3 placings (Turkey, Loxley, HH2z) between now and Xmas 2022, how much confetti????

Of course, the above is just my opinion, but unless SS has a money tree growing out his *back yard* then UKOG are in serious financial trouble.

Go ahead, tell me that UKOG are fully funded for Turkey, HH2z and Loxley. Then we can look back in 15 months time and highlight the obvious issues in grey matter processing of simple facts.

All for debate, just my opinion

Aye, you never know Wizard, maybe SS will have his day soon. But don't count your ducks before they hatch.

And for those that think I'm XR or such like. Check my posting, I am into other junior oilers and support O&G production in the UK. We don't need Putin holding us ransom with his Russian pipelines.

Wizard,

To quote Jack Nicholson, "you cannot handle the truth".

Go on, tell me that UKOG have the cash for the HH, Loxley and Turkey efforts. Don't forget about IoW while you are at it.
Go on, tell me that it'll all be done really quickly with success and that UKOG will get it all done in the next 16 months.
Go on, tell me that UKOG have drilled more than 2 wells in the UK in the last 5 years.
Go on, tell me that you have been through the accounts and know that UKOG don't need further cash just to cover existing operational overheads.

Go on, go on, go on...

Then we can quote you on this each time I'm right and you are wrong. There's a pattern, and I'll claim that you've been wrong on every count, and I've been right on every count to date.

Go on.

9 Sells, 9 buys and 5 I cannot determine so far today. Hardly a 7:1 ratio. It's a 50/50 and right in the balance.
Furthermore, the volumes are so low with no news flow that the MM's are not that bothered about trying to fish a few quid out of this stock on a Friday before a bank holiday. They'll be in the boozer in 55 mins.

Tick tock.... Yes ok Wizard.
How can UKOG drill HH3, Loxley and Turkey without any cash left in the account?
How many wells have UKOG drilled in the UK in the last 5 years?

Simple answer, They cannot drill without cash and they only drilled 2 wells in the UK in 5 years.

So, yes it is tick tock:
1) Tick tock until there are 3 major placings, but only one more before the next AGM as they've used up much of their nominal share allowance in raising the cash for the dead duck that is Turkey.
2) Tick tock until they actually drill 2 more wells in the UK, I predict that UKOG will delist before they get a rig to any UK site to drill any further wells.
3) Tick tock, tick tock, tick tock. It ticks and tocks all day long, but it will be many many many days before UKOG actually do anything major in the UK (if ever), other than massive placings and dilution. 40 BILLION shares anyone?

So, yeah, you better wake up and smell the coffee, knock yourself out of that weird dreamworld you live in.

All in my opinion of course.

Just remember, planning hearing will see Loxley overturned, of that I have no doubt, and SCC will have to pay UKOG legal costs but nothing more as there no actual business losses to compensate.

THEN.... UKOG will have to raise a huge amount of cash to pay for Loxley drill and EWT, so look forward to BILLIONS more confetti swirling in the UKOG market ether.

This decision offers nothing more than a very short term trading option, it's a get in/get out in the space of 2 hours, that's it, nothing more. Some will make a nice little profit, others will be left with a dirty mess in their portfolio.

All in my opinion of course. But one planning decision DOES NOT make the company into a cashflow positive oil producer does it!

Thanks Mirasol. I called it from day 1.

That license block is a dead duck. It's been drilled historically with limited success. They decided to try an pin the tail on the donkey with a speculative drill without any seismic. It's not Texas! You cannot just pop a hole in the ground and hit oil.

The key factor for me was AME, they had UKOG contribute 100% of an initial $5m to drill. And that did not include contingency costs, seismic, EWT, etc, etc, etc. Such an obvious play by AME, they threw a sucker punch and UKOG bought it. What does that say about consciousness leadership by SS? It says that he was happy to use PI cash and take a sucker punch on the chin (of PI's) so long as he was getting paid his monthly pittance of a salary.

It seems convenient that the drill bit was lost, the open offer almost certainly came after UKOG knew about that drill issue, and PI's who bought into the near £500k via open offer saw losses of 25% in the space of a couple of days. The CEO cares not for that loss (£125k) as he still gets paid.

Rampers will ramp all day long and those who bought in will continue to heap praise on the CEO and the company prospects. But you do need to look at this company and the CEO very carefully.

1. CEO does not do investor calls or interviews
2. CEO and the board refuse to buy shares despite a formal RNS showing their obligation to do so on a monthly basis.
3. BB is nothing more than abandonment costs (or considerable costs for a sidetrack), but given that the Kimmeridge is written up as being sub-commercial in UKOG planning applications, then you can see that it will be the former.
4. HH is not going to be anything other than a single producer site and unless they get approvals (and CASH) to convert HH2z, then the asset level profits will be significantly hindered by water disposal charges.
5. Loxley will require CASH and that will introduce massive dilution. £6m minimum in my opinion, so there goes another 25% of the SP n today's rate. Robin of Loxley (aka Robin Hood) stole from the rich to give to the poor, I guess SS is the Sheriff of Nottingham in this particular analogy.
6. Turkey is a dead duck, always was going to be the case. Seismic will take months, then it will be another massive CASH call, more dilution and a SP hit.
7. The chairman is a chocolate teapot, he has not taken the necessary action to address the shortfalls of the CEO and should have acted to have the CEO replaced. But, he's on a nice packet.
8. UKOG accounts show payments to partners, some of which were/are run by folks on the board. Talk about taking extra back-handers. Feels similar to Boris J saying that he paid the £200k to renovate his living accommodate at no10, it's slimeball all day long.

Enough said.

The above is 100% my opinion, and as this is a discussion board, I am sharing my opinion openly. I hold no shares and have no intention to buy. Furthermore, I hold no short position or CFD's in relation to UKOG.

Mirasol,

SS did say that "the train was leaving the station", and he was absolutely spot on...

https://www.youtube.com/watch?v=YZeNauNAUQg

On SS's Thomas the tank engine playset of course.

Loxley is a done deal in my opinion. It'll be overturned and SCC will have to stump up some serious cash to cover the legal fees, etc.

The bigger question is.... How much more confetti will SS need to issue to cover the costs of Loxley drill + EWT. I'll open the bidding at £6m which is a hell of a lot of confetti and maybe more than can be raised given their restrictions on nominal shares that can be issued ahead of the next AGM.

Then the biggest question.... Will SS be able to get a placing away given his track record? My view is that he'll fail to get the interest from the usual suspects as there is no news to forward sell into this time. Turkey is a dead duck. BB is nothing more than postponed abandonment costs, and HH is a wash out with cash needed for a conversion of HH2z into a water injector (that the OGA may refuse anyway).

My verdict, UKOG have < 18 months before they delist. That's unless they can find some mugs to farm out the Loxley drill to (v unlikely). AME played a blinder using UKOG cash (PI cash really) whilst SS sits in his nice house looking at fine art and drinking champers.

All in my opinion. (I am no mug).

MrPlumper, that's a load of BS. 177 trades today hardly smacks of city spivs making a killing, indeed they would have had to sold very early in the morning. They have much bigger fish to fry than trying to eek out a few K on UJO.

The trading is purely the usual folks who like to take an easy 5% to 10%. With UJO that's quite easily done, look at the charts, it's a 5+ trading / year game. Easy to make some cash with a £10k kitty to trade it.

Of course, that is all in my own opinion, but I don't see the so-called city spiv's being that bothered with peanuts. They have the big boys to play with (e.g. short on Anglo American) to make some big cash.

re-rate to 0.03p will indeed be epic. Just wait for the next set of results and a few more months of OGA data. Choo choo, Thomas and his friends...

When Sando talked about the train leaving the station, he was of course playing with his Thomas the Tank engine wooden play set. Choo choo. Sando thinks it's fair game to rip off PI's cash to spend on zero chance assets like Turkey.

If this were pre-19th Century the guy would not be breathing, they knew how to do things back then.

All in my opinion of course.

The 10%'ers are taking profit. Fair play to them. But will they have to buy in higher now? Or do they expect this to drop back to 30p for another trade. I'm holding tight. There's plenty to come.

All in my opinion of course.