Member Info for CynderLad

LOL. I assume Ozzy started that thread. I've had him filtered for a long long time.

Poor sausage. Has he bought more cheap shares?

As I've said before, Turkey is dead. UKOG did not win any of the 3 extra license blocks, and AME with their partner have drilled an expensive hole only to completely muck it up and lose kit in it. How long were they fishing that kit out?

Basur-1 was a drab effort, and only initial flow rates are reported by UKOG. Basur-3 now on the back-burner for several months whilst they try to work out the seismic to drill a side-track. I wonder if AME have a veto option to abandon further drilling if the seismic is as poor as I expect it to be. After all, it's duster land.

I'm sure that Ozzy is loading up with more cheap shares. That is what he keeps preaching.

I wonder if he has ever played chess and understands the concepts; strategy, distraction, lateral thinking and managing one's losses.

Will1734, when you write "What could anyone have done differently to SS? Personally he has done his best".

I have to disagree. There are many things that could have been done better over the last 4 years.

1) As CEO he could have acted with integrity and kept shareholders updated with bad news when they had it to hand rather than withholding it.
2) As CEO he could have bought shares as per the commitment made as part of the director share plan that was issued by way of RNS. He has refused to buy the shares that he was committed to buy as per that plan. A shocking act by the CEO.
3) As CEO he could hold regular investor calls, there is no excuse for not holding them. As a CEO you have to take the good with the bad, face the music and tell the plain truth. He refuses to do this and refuses to do interviews (other than those where he has set the questions and on a ramping quest).
4) He could park the soundbites such as "smell the oil", "train leaving the station", etc, etc. A CEO should be using hype to promote placings without have hard factual good news to back that up.
5) As CEO he could come clean on the Kimmeridge at HH and tell the market and shareholders why they haven't touched it at HH for a long long time. While he is at it, he could also issue monthly operational updates showing production status of HH1 rather than leaving PI's waiting 3 months for the formal OGA data to land.
6) As CEO he could work with the board to produce an updated company strategy and make it clear what they plan to do. To me it feels like it's a case of flying by the seat of your pants to keep the placing cash rolling in without any intent to make UKOG a real commercial prospect.
7) As CEO he could uphold the promise made last year to take a pay cut for a longer period, instead of which, he did not take anything more than 1 month pay-cut of 10%. Check the accounts.
8) Following up on point 6, as CEO he could have provided the real expectations for the Turkey punt. They keep quoting Basur-1 and initial 6 hour flow tests, but they have not provided any details of what they expect over a 1+ year period.
9) As CEO, he could have had an updated CPR for HH commissioned, but we all know why they haven't bothered, the chance of RBL is dust.

I could go on and on and on. I'm sure that the FCA would find many many examples of him not acting with integrity.

Personally, I think he should consider himself lucky not to be facing criminal proceedings. But that is just my view, an opinion.

The board should be investigated by the FCA, they have not upheld a number of the FCA requirements, certainly haven't when it comes to acting with integrity.

As I said many times before, Turkey is dead. They have not been award any further license blocks and have drilled a duster in an area known to be sub-commercial. It's clearly a ruse.

Why did they not spend any cash of converting HH1 to dual complete from the Portland and Kim? It's been a long time since SS updated the market on this and it should have been completed by now.

The SP is heading to 0.05p, there will be funding issues later this year, and further placings. You can count on that. The big question is, how long before UKOG delist? My prediction is that they will delist in early 2022 and then it's a case of SS making all the staff redundant and selling off the kit to pay his last few months of salary before he retires.

Just an opinion of course. But you heard it here first.

I'll give one piece of advice: Listen to Penguins and ignore the boiler room ramp squad that includes Ocelot, Trollhunter2, Ozzy, and a bunch of others.

Second piece of advice, as stated previously, never ever invest in a company where the CEO refuses to buy shares in the company that he/she is running. It's the biggest red flag of them all.

In the meantime, SS is loving his monthly pay packet and extending his fine art collection.

As you are talking Loxley, I wonder what iGas think of the Dunsfold play?
I also wonder why the big players are not one bit interested?
Could it be the old issue of getting approvals from SCC, etc, etc, and then finding the cash to drill knowing that it's likely to be a duster?

Tollesbury, as you brought them up: UJO will do nicely in the near short term. Proppant squeeze at Wressle due very shortly and the oil flow will then increase to 500 bopd from 1 well. I recall when UKOG last achieved 500 bopd (it was during initial flow tests of HH1).

Staying on topic, UJO also in the middle of an EWT at West Newton, that is described by some as offshore find onshore location. I would not go that far and a bit disappointed by their RNS this morning with EWT test update.

That said, how long has it been since SS gave shareholders a meaningful update? or since he last answered the phone, or gave some Twitter updates that were not misleading, etc, etc, etc.

I learned a few years back to be cautious about investing in a stock where the CEO was not invested, with UKOG it is another level deeper than that, the CEO does not do investor/PI calls or interviews where the questions are not set by himself. The CEO also hides bad news and withholds it. The red flags with UKOG are primarily with the CEO and the board. If the assets were half decent, then I'd consider investing, but when you multiply out bad assets with a shockingly poor CEO you don't end up with a stock that is attractive. Need I point out the constant dilution and failure to raise finance on the back of assets.

What happened to asset based financing?
What happened to dual completion of Portland and Kim in HH1?
What happened to the Chairman, he's harder to locate than Wally!

And to cap it all off, what happened to good old trust, respect and loyalty to shareholders? The CEO treats you lot like a bank that he cannot help but rob on a monthly basis knowing that there's no security and no cameras with no police service.

All my own opinion of course.

Sorry Brocal, but you are way off the mark.
They have been testing for weeks now, not days. They should already know the flow rates for the gas from a fairly limited zone. They have not tested several zones have they.
The lack of flow rates is a poor show. Any PI who has been around the small cap O&G players for 5+ years would know that.
You can dress it up as much as you like, but it does not change the fact that the flow rates are missing.
I'm not writing it off, just being cautious about the asset. I'm invested and was expecting better news.
Now the wait for Wressle, not much longer now, and yes I do expect some really excellent updates there.

No flow rates. Slow to get the info on the fluids. That's a very weak RNS given how much time they've spent on the EWT to date. I expected more, wanted more and still expect more.

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.

CEO not got much to say, maybe he's already in the Bahamas, mission achieved.
Is Sando the worst CEO on AIM? That's a tag I'm sure he is proud of.

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.

mohdburhan314... 5p is a dream. I think most would welcome 0.5p, especially the traders who want a quick return on a small investment.

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+?

I'm waiting for TH2 to claim that there is a "guy" on the tank with a "dipstick". Those two words can be used in other sentences to reflect my answer.

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.

Would be a better heading for a discussion.
How much dilution in 3 years whilst promising the earth and delivering failure after failure?

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.