Member Info for CynderLad

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.

I signed up and supported that, but then had to rescind my support as I am no longer a shareholder.

Oceflobalalot means to say that folks aren't interested in buying even at these so-called discounted prices. Its the lack of buying that is keeping the volume low.

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...

As predicted.
Next up 0.15s
Sando remains invisible and inaccessible to shareholders. You have to ask why!!!

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..

LMAO.

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)"

To be 100% clear.

It is 4 BILLION shares via placing - see my post and the limit there and what they could raise (i.e. £1.78m)

And another 4 BILLION shares via open offer - which would be to shareholders and not a partner. Can they can this away with the SP on its knees and offer being sub open offer? NOPE.

Either way, it's an extra 8 BILLION shares taking UKOG to 21 BILLION. OUCH!

Stockraiser.

When I stated the following:

"Unfortunately, UKOG have limited themselves to issuing 4 Billion shares up until the next AGM. And they just issued a shed load (2,763,888,878) to raise the cash as per RNS on the 5th July.
That leaves them just shy of 1.25 Billion more to issue, which at a discount of 20% to the SP today would only net them £1.78 million. That in my opinion is nowhere near enough to see them to the next AGM. They will have exhausted all cash raised on Turkey and UK overheads by end October. And certainly not enough to pay for the work at HH, Loxley, IoW, etc, etc."

It was clearly a comment in relation to the Placing shares, not the open offer.

A further placing has no relation to the open offer to shareholders. It will be made on new terms agreed with the partner who's looking to cash in, and it will be at a discount as per the most recent one was. You will never get a placing away without a discount.

Do you wish to re-read my post and comment on it given the above clarification???

Jimmy White was CONFIDENT he could win the world title. He's still confident he can compete.

The value of confidence means nothing when set against the overall views of Mr Market. Mr Market is saying "hmm, maybe not".

When I say 4 Billion shares, that is by way of placing. They can issue a further 4 Billion by way of Open Offer. See the 2 resolutions at the GM on 7th June.

Unfortunately, UKOG have limited themselves to issuing 4 Billion shares up until the next AGM. And they just issued a shed load (2,763,888,878) to raise the cash as per RNS on the 5th July.

That leaves them just shy of 1.25 Billion more to issue, which at a discount of 20% to the SP today would only net them £1.78 million. That in my opinion is nowhere near enough to see them to the next AGM. They will have exhausted all cash raised on Turkey and UK overheads by end October. And certainly not enough to pay for the work at HH, Loxley, IoW, etc, etc.

So unless they get that open offer away, they are in big trouble. May need the SP to climb (enter the initial drill results in Turkey with half baked info).

SRBS, how about those rockets? They are really good right?

Go on, tell me that my posts break the rules! They don't. You just don't like the views I put across on this "chat" board.

You don't like them because you know that much of what is said by myself and others like Penguins touch a part of your inner consciousness that accepts that the UKOG pony really is a one trick show and high risk. Of course, that is my opinion, but go ahead, please tell me that you are 100% sure that UKOG are a sure fire winner and draw a picture of a rocket to back that up if you wish.

And to back up my previous post. If the mapping and data were that good and nailed on, then why would AME be looking to get a partner involved? A simple question and a simple answer. The simple answer being, they'd rather see someone else pay for the speculative punt into a play that they know to be a likely water gusher / duster.

My opinion of course. But in business, you don't see folks look for investment partners when they are on a dead cert.

Penguins,

I love this part of your post; "Let's hope their subsurface mapping, which they have declined to show, is right."

You have to wonder why Sando has declined to publish this information. Surely, if it was nailed on and too good to believe, then UKOG would have published the detailed data and mappings. That would entice a lot of savvy oiler folks to invest *IF* it was that good.

Unfortunately, as per the norm with UKOG and Sando, it is a case of what they refuse to publish and comment on that often shows the truth.

For example, the RNS on the 28th June 2021 (Turkey: Basur-3 Drilling Commences) and the RNS on the 21st June 2021 (Turkey Basur-3 drilling rig mobilised to site); Neither mentioned that UKOG were fully funded for the drill The very fact that UKOG refuses to comment on the funding position in either RNS made it abundantly clear that they were short of cash (despite what the rampers were saying here at the time). Then the bombshell (for the rampers) dropped on the 5th July (Successful Placing and Proposed Open Offer), which UKOG were "pleased to announce".

It is very simple to unpick the truth from the half-baked RNS's that Sando has issued. It is a case of "what is missing" as opposed to what is announced. Hence, back to my original point, If Turkey was that good a prospect, then UKOG would have shared the technical data and mappings and provided a more diligent presentation to back that up. They haven't, that details provided are akin to that in a Janet and John book for 5 year old oil investors titled "Chase the rainbow".

Understand the MO of the UKOG CEO and his chums, be sceptical when reviewing the RNS's and look for what is missing rather than what is published, and then you'll see the hard truth.

TH2, I think you have forgotten about the so called "shorters". You mention XR, but I don't see them here. All I see is a bunch of rampers (some may be paid, others are deep underwater) being contested by folks like me who can see the wood for the trees.

How's that SP doing this morning? It creeps lower and lower. The market knows the score, Sando will milk PI's till they are dry, 2 years to retirement according to some on Twitter. Easy ride for him from here on, and he can let AME do the bulk of the work.

I can tell you from experience, the volume of red tape does not impact the volume of oil or its recoverability. Neither the Weald or the Turkish licenses provide anything to get excited about in my opinion. As some will know, Turkey is a dead play.