Member Info for CynderLad

I've posted this before and will again:

Here are some facts for you:
1) The Tweet earlier this week marked the first Turkey update since 12th May (the tweet on the 31st was deleted). Hardly fast progress.
2) The $5m capped costs for the "initial" drill in Turkey. Note the word "initial", be careful reading UKOG RNS's as they are selective in what they share and "initial" means just that, i.e. there will be further costs.
3) UKOG only had £1.6m cash left at end of Sept 2020, and raised £2.2m on Oct 2nd. Giving them a balance of £3.8m cash at of early Oct.
4) HH oil production is dropping like a stone, and the water cut has increased. Water disposal costs will be eating into profits. Will the price of Brent serve to offset the water disposal costs, or will the monthly losses incurred by UKOG in running UK operations worsen?
5) Burn rate in the results posted end of Sept 2020 show a loss of £266k per month, that's quite bad. That is a fact, it's not made up, it's all there in the accounts, you have never provided a counter argument on that point.
6) Its now close to 9 months since the end of Sept. 9 * £266k loss = £2.4m loss. Leaving just £1.4m of the cash that they had in Oct. Extrapolated figured of course, but unless you can demonstrate the UK overheads have suddenly dropped or that HH is producing a lot more oil and less water, then you cannot argue against that point.
7) AME will not take confetti or IOU's, UKOG will have tried that and AME will be wise to the games. Why wouldn't AME take confetti if the drill was nailed on? Why would AME look for 100% funding for the first well if it was nailed on?
8) UKOG need to pay AME ~£3.6m, have they even paid £1m yet? Where is the rest of the cash coming from?
9) The 2 resolutions at the GM allow UKOG to issue a further 8 BILLION shares, thats a huge dilution on the existing 13 BILLION shares.
10) Interim results due next week, lets see what the cash position and burn rates were from 1st Oct to 31st March, bet they make for very poor reading.

But, sure, if you are here as part of the P&D squad, you don't want to read the above, you'll shy away from a proper debate, and just call me a naysayer.

Yeah, UKOG found a money tree growing at HH and have been using it to cover all the AME costs. Placing tomorrow is my call, 1 billion shares for £1.7m minimum.

JustBe, don't ask silly questions like that, they'll just tell you that it is super cheap and not worth discussing.

Hence, you can discount the option of running the pipeline. The terrain is pretty horrendous and all that snow, wait is snow an excuse still?

There is a pipeline just outside HH, maybe they could run a spur off that to Basur-3... &-)

Cheers Skwizz

The ramptastic boiler room team don't read and consider what I post.

I've said it before, will say it again, Turkey is dead.

You need to read that statement carefully. In the same way that UKOG RNS's should be read. Don't take the keyword literally, consider the overall meaning of it.

Basur-3 is a waste of cash and time on a dead prospect. Sure, AME will drill it, at UKOG / PI cost, but it's pretty pointless as apart from the ramping and dishonest commentary that will follow the initial drill and then the short flow rate testing, the longer term truth is that Basur-3 is a complete and utter waste of time.

Turkey is dead, from a UKOG perspective, dead. Wait a few months and you'll see.

TH2 reported for claiming "Iraq size opportunity", read the RNS man, it's a small play. Not an Iraq size play whatsoever. Please go educate yourself. It's peanuts by comparison.

Twitter has been devoid of any pics/vids of tankers at HH in recent weeks. I cannot remember the last time I saw a tweet showing tanker activity. Nor can I recall seeing any tweets from the BKP boys relating to HH.

So on that basis, is it merely a case of:
1) the local eyes giving up
2) the BKP boys being told not to post (likely either way)
3) there being no tankers as HH1 is shut-in due to production levels dropping like a stone and water cut and disposal making it an asset that is now losing cash.

OGA figures due next Thursday, interim results (1st Oct to 31st March) next Wed. The truth will out.

I'm happy to keep posting the facts from the 30th Sept results, £1.6m cash left in the bank. £266k operating loss per month on average. Simple facts. Then there's the 2 resolutions at the GM giving the board authority to issue upto 8 BILLION new shares, a fact! And then there is Basur-1 which only flowed 500 bopd and had a nasty water cut, a fact. Then the case of the mysterious executive pay cut for covid that was supposed to be 10% to 20%, unfortunately the annual results showed the reality and SS didn't take a cut in that range, and KM only took 1% cut. You can continue to pump the CEO and the company as much as you like, but it doesn't change the fundamental truth that is there for all to see.

p.s. Getting shed loads of green filter messages, love that function. Not having to look through the posts of the lowlifes who are on the same level as the Indian call centres trying to get me to install a "special" patch on my Microsoft PC.

SS was very keen to state in the BBC interview that there were billions of barrels of oil in the Weald, it was blah blah blah then, and the same is true of Turkey now. Only the traders will make a profit on this one if they can time entry and exit correctly. Watch out for that spike, placing ahoy, followed by 2 more later this year.

Looking back at past RNS's, SS was very ken to say that UKOG was Fully Funded for operations in the UK, covering entire calendar years. Then despite those RNS statements, they pressed ahead with placings.

So for a CEO who is very keen to shout "fully funded" (louder than a woman who's just won the bingo down the local village hall) to omit such statements from the latest RNS is a massive indicator of what is to follow.

SS did not make any statements about UKOG being fully funded for Turkey, he had the opportunity to do so on Monday.

Then they had 2 resolutions passed at a GM to allow them to issue upto 8 BILLION more shares.

Interim results due out this time next week. Let's see if the UK operations are still losing them £266k per month for the 6 months from Oct to end of March, also, we can have a look at the cash balance. End of March prediction for me is that they had cash of £2.2m reflecting an operating loss of £1.6m for the 6 months. We know that work commenced on initial preparations of Basur-3 drilling site in March, so it will be interesting to see how much cash UKOG stumped up to AME for that work, was that paid up front or in arrears with payment in April?

At the end of the day, I think it is now 110% obvious that a placing is coming, and as I called it recently, SS needed volume to get that away. They must be on fumes right now with the AME cash calls and SS will want his monthly salary paid to the end of the year.

Bullshirt, if you cannot handle an opposite view, then why are you on here? This is not a cheerleading social media site reserved exclusively for sharing pom-pom stories. I have spent considerable time in the past researching UKOG and even invested at one point (ignoring the recent £10 mickey take effort). I did plan to invest in 3 stages to build a holding that would amount to ~2% of my overall portfolio, but not to exceed £25k.

Saw a few red flags and opted not to invest and sold my initial 1st stage investment. I don't throw research in the bin; knowledge is power. I still see opportunities for UKOG to deliver me a return on investment; but certainly not anywhere near my previous levels of spend (I may stretch to £5k at a push). I'm not here deramping to reduce risk of investing. I'm here to get views from others, but I don't record or apportion any value to posts than slate what I've posted. There's a few unicorn owners that I've already put in the filter bin as they seem incapable of providing any thoughtful insights into UKOG, they would rather just insult and ramp to pray on others FOMO.

So, do feel free to bring some thoughtful discussion, or not, your choice, no skin off my nose. I've taken plenty of value from the likes of Penguins, Mirasol, and several others. It helps broaden my horizons.

To sign off, why is the CEO not willing to hold an investor call? Why is he so scared of talking openly with the owners of the company and future prospective holders? Answers on a postcard.

I've posted this before and will again:

Here are some facts for you:
1) The Tweet "yesterday" marked the first Turkey update since 12th May (the tweet on the 31st was deleted). Hardly fast progress.
2) The $5m capped costs for the "initial" drill in Turkey. Note the word "initial", be careful reading UKOG RNS's as they are selective in what they share and "initial" means just that, i.e. there will be further costs.
3) UKOG only had £1.6m cash left at end of Sept 2020, and raised £2.2m on Oct 2nd. Giving them a balance of £3.8m cash at of early Oct.
4) HH oil production is dropping like a stone, and the water cut has increased. Water disposal costs will be eating into profits. Will the price of Brent serve to offset the water disposal costs, or will the monthly losses incurred by UKOG in running UK operations worsen?
5) Burn rate in the results posted end of Sept 2020 show a loss of £266k per month, that's quite bad. That is a fact, it's not made up, it's all there in the accounts, you have never provided a counter argument on that point.
6) Its now close to 9 months since the end of Sept. 9 * £266k loss = £2.4m loss. Leaving just £1.4m of the cash that they had in Oct. Extrapolated figured of course, but unless you can demonstrate the UK overheads have suddenly dropped or that HH is producing a lot more oil and less water, then you cannot argue against that point.
7) AME will not take confetti or IOU's, UKOG will have tried that and AME will be wise to the games. Why wouldn't AME take confetti if the drill was nailed on? Why would AME look for 100% funding for the first well if it was nailed on?
8) UKOG need to pay AME ~£3.6m, have they even paid £1m yet? Where is the rest of the cash coming from?
9) The 2 resolutions at the GM allow UKOG to issue a further 8 BILLION shares, thats a huge dilution on the existing 13 BILLION shares.
10) Interim results due next week, lets see what the cash position and burn rates were from 1st Oct to 31st March, bet they make for very poor reading.

But, sure, if you are here as part of the P&D squad, you don't want to read the above, you'll shy away from a proper debate, and just call me a naysayer.

I've seen better sales pitches given down the local market by a barrow boy selling fine bone china. SS couldn't outsell a 7 year old selling lemonade on a pavement. He's a terrible salesman. Where is the professional company strategy document from UKOG with info-a-plenty for all existing assets and Turkey? Probably not produced because they would have to put some interesting comments against; BB (dead), HH (dying), IoW (waste of time), Loxley (yawn), Turkey (stonedust guaranteed). But then there is Horndean which has given a nice little stream of cash into the accounts for a while now, problem is that is doesn't cover the cost of the coffee machine in the office.

Penguins gets my thumbs up for providing unbiased honest posting with fact based research. The rampers here just put out the same old rubbish all the time. "0.5p this week" being yet another classic example.

Cheers for the reminder. I'll add Mullins58 and Insidious to my filter list. They are definitively owners of unicorn stables and sellers of rainbow chasing.

What happened to Doubleheadedcoin? Brute force discussion board pollution was his MO right?

What's the market rate per tonne of stone dust?

Unaudited results for the six-month period ended 31 March 2021 should be filed by the 30th June, I am not aware of any dispensation for Covid to delay filing.

Let's see if my analysis of burn rate and losses in the UK, cash position, etc, are correct.

Rig on-site in Turkey is all very well, but I'm backing the calls by the old timers who already called Basur as a bad prospect.

How many unicorn owners can sharpen a pencil and do basic math / analyse the results to end of Sept 2020? Not many!

If you are looking to cast folks, then there are plenty of unicorn owners on here ramping the rainbow chasing dream.
Just research the history on UKOG and beware of the half truths and careful words used in UKOG RNS's.