Member Info for CynderLad

I keep a close eye on the sanderson out web-site. They are looking for 10% support and will then look for candidates to interview. I don't see an EGM happening with the resolutions as slated, they will have to put up replacements for the 3 board members, they cannot just oust them. I hope they keep Lord Lucan away from the table, he's not done Angs much good. It could be 2 months away by the time they get their act together. By then, SS may have pumped another 8 billion shares into the market, so to get 10% will need 2.1 billion shares rather than the 1.3 billion needed right now. Seems like SS may have a bit more time on his hands unless people get supporting.

Hogwash.

https://www.sanderson-out.org/ 4.63% now signed up. SS must be getting a bit twitchy. Squeaky bum time...

Little bit of a pump n dump today by the looks. The spike gave a few an option for 20% profit if they bought in late last week.
The slide back to 0.18 is now in motion in my opinion.
UKOG would be posting pictures galore if the rig was being setup in Turkey. Unfortunately, UKOG don't have the cash to pay AME, so it'll just have to wait until mid to late June, post the placing/open offer for anything upto 8 billion shares.

I have £10 invested, laugh as you may, but that is as far as I am willing to go with the current board of directors. If they get ousted and replaced with a BOD that show integrity and act in the interests of shareholders, then I will review my position. As some have already said, a change of the BOD will not change the oil in the ground or its recoverability in Turkey or at HH, but it would help reduce the operational overheads and bring a fresh change of attitude to shareholders.

They are hoping that a 5% contribution from their salary (which will almost certainly be pre-tax) will serve to help them keep PI's on their side. Call it a 5% insurance policy. Unfortunately, they have not said how long they need to hold those shares, but whenever they sell it will need to be announced. It could be 5% in then straight back out again. Where is the risk?

Looks like SS and his chums are getting a bit scared by the campaign to oust them.
Don't worry, they will probably award themselves a pay rise of 10% to cover the cost of the shares, and it'll come from PI open offer and placing.

LOL

"31 API gravity oil was discovered in Mardin Carbonates in Karakilise-1 Well, in 2003. Current daily net oil production is ~20 bbls/day from only Karakilise-1 Well"

I love the use of the word "only". A whopping 20 bopd from "only" 1 well, and it's crap quality too, 31 API.

With the EWT at WN about to kick off? Something fishy going on?

I saw Pboo on Twitter calling me out. I have him filtered here, but will respond anyway.

Wow, they put in a liner and a few metal posts, and installed a 6ftx6ft hut. That's all they did in 15 days! I admit I could've played closer scrutiny to the 2 pictures. But that's not 15 days worth of progress, that is 1 day of progress and 14 days of delay.

As for the rig turning up soon. Yawn! I've said it before, AME will want their cash, they will not take shares in UKOG, not even the usual double bubble offer that SS makes to offset cash calls whilst hurting the innocent PI's.

Go on, show us your cash in the bank calculations and tell us how £3.6m (balance as of 2nd Oct) is looking right now, given that they need £266k per month to cover the UK operational overheads and need £3.6m to pay for "initial" drill costs. I will repeat "INITIAL", that is not all the costs, that is "INITIAL". You should know by now how sneaky UKOG are with their wording in RNS's and their half truths about the FULL costs.

As for the placing/open offer RNS / resolutions at the forthcoming GM. £800k of maximum aggregate nominal shares equates to anything upto 8 BILLION NEW shares. That is a 38% dilution right there. So if the MCAP remains flat, then each share worth 0.18p today will be worth 0.1116p post dilution. So what price will the placing and the open offer be at? They need to do one or other very very soon as they don't have the cash to pay AME, and they don't have the cash to pay the UK wages come July, and Sando will want paying.

Take those rose tinted glasses off for goodness sake, wake up, smell the coffee, look at the track record.

p.s. Go ask why AME's usual partners did not want a slice of the action on this drill. They would've offered it to their usual mates before accepting the approach from UKOG.

I'm not deramping. Just quoting facts. Do you not understand what the 2 resolutions in the GM represent? Go read it, go figure out what that means in reality. 13B shares could be 21B shares by this time next year. That's not a deramp, that pure stone cold hard fact in the GM notice and formally registered by way of RNS. Simples.

LOL. The rampers didn't get the joke on that one.

oh, and some lining on the water/oil separation ponds.

BuckwaasObserver, maybe use the "observer" part in your name and go check the pictures for yourself.
The photo on the 12th May shows the same view as that today. There is no additional kit, no additional fencing, no sheds, nothing, zilch.

In answer to your question "Why on earth would they post the same pic showing no progress? You are a lunatic!" This is clearly something that UKOG should reflect on; why did they put out a picture that was practically identical to the one on the 12th (only difference was a vehicle off the back right missing in today's picture).

I don't feel offended by what you posted TollesburyStu.
Those that have offended me, and are repeat offenders are in my filter bin. I'm sure Ozzy is about and calling my a liar, but I cannot see those posts. But for his benefit if he is about; Turkey is off (unless UKOG stump up cash), and that is not a lie, it's a fact, they have to pay 100% of the "initial" costs and they don't have the cash to meet those commitments at this point.

TollestburyStu,

Just take a few moments and read some of the views of folks that oppose the narrative laid down by the company and the rampers. Set aside emotion, be Vulan-like. Take a cold hard look at a few basic facts, then reflect on it.

I'm not going to brainwash; just sharing my views and opposition to the ramping that I see. Latest view being £800k of nominal shares could raise £12m in cash if the placing and open offer were issued at 0.15p and taken to the maximum aggregated volume. But that would see number of shares grow from 13 billion to 21 billion. If the MCAP remained neutral, then the SP would drop accordingly. My other views are well known; Turkey is a punt, AME don't do anything without cash payment (they will not take UKOG shares and Sando will have tried), and the CEO should resign.

Did you notice that UKOGlistedonAIM have deleted the tweet that they put out after lunch today.

Seems that they were rumbled, showing the same picture of the site as was tweeted originally on the May 12th.

Great progress there in 15 days.. Not.

AME still waiting for cash payment, the Turkish folks are not dim! Cash payment only! No money no progress. No oil no worry, its a risk free drill for them, and if it is a duster, then they know not to spend any further cash on "exploration" in that area! It is exploration not appraisal. You should note the differences, especially when it comes to risk!

I'll buy that £10 note off you for a Fiver!

Got it? Good. If not, then don't worry, Sando will pocket your £10 and give you nothing back.

bigpat.

I do not have an issue with an AIM listed junior oiler going to market with cap in hand looking for cash. That is the modus operandi for most in their early years.

However, I do have an issue with a CEO that refuses to issue proper operational updates, refuses to do investor calls, refuses to issue full unabridged data/reports, hides bad news and provides half truths.

The legacy is there for all to see:
Broadford Bridge: I can smell the oil. Then the reality of the situation hidden away and bad news leaked out much later than it should have been.
HH: Transformational, HH2z oil flows with no water, then to be told weeks later that they've hit water and will be shortening the horizontal well (by how much was never disclosed).
HH1: Water cut released by OGA stats and not by RNS, how could that ever happen? It is market sensitive news
Turkey: $5m capped, but they only comment on the initial drill. They do not cover the full costs of putting the first well into operation, they did not give an outline of the contract with AME or how the cash would be paid, how much cash at what stages?

It's sickening to see a CEO behave like SS, he is not upholding shareholder interests, not one bit.

Looks like there are folks on the periphery looking to get in and help. Adrian Po**** looks like an experienced chap that may help with the ousting of the UKOG board. What do folks think? Will the campaign reach a critical number to support the ousting ? They have my support.

https://roddersjones.wixsite.com/sanderson-out