Member Info for CynderLad

I found the following, looks like someone is ready to get the ball rolling:

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

Somebody needs to setup a web-site with registration that feeds into a back-end database or such like that captures the PI's name, address, volume of shares held, their confirmation that they want a vote to oust the CEO and possibly the Finance guy too. There's a few rotten apples on the BOD, get shot of the 2 worst. Anyone have some basic app development skills to make this happen? What legal requirements are there, is there a process/paperwork with an independent body?

I'd buy a few shares to help see SS and KM ousted. They don't deserve a pay packet.

Did UKOG appoint someone last year with operational experience? I recall there being a hire of someone with good experience, cannot remember the name.

As it's mostly about Turkey now, and with AME running the show there, I don't think you need to retain a board as wide and deep as UKOG have, not does the company need to be paying the premium that they are.

Paul Daniels. I think all investors know that there was a consolidation, and yet despite all the deramping posts by the trolls and XR folks, it hasn't impacted the SP as they predicted. The consolidation now looks to have been a very savvy move, other junior O&G CEO's should take note!

Not bothered by Shell per se, that's unless they decide to make a bid on WN after the imminent EWT. :-)

100% agree with you on that Penguins.

As per my posts yesterday. I do not see UKOG as being professional or competent. And for the benefit of Sting69 who may not have read my posts yesterday. You cannot claim to be professional without having integrity and honesty. The 3 go hand in hand.

The CEO of UKOG refuses to issue real technical data, refuses to do investor calls, refuses to do interviews where he has not set the questions, refuses to provide recordings of AGM's and refuses to buy shares in the company that pays his over-inflated salary. You have to ask why the CEO refuses all these things, when the CEO's of the top companies see PR as being front and centre. The CEO of UKOG prefers to keep it all locked up in the cupboard and even with factual data in the public domain (e.g. O&GA stats) continues to refuse to issue formal statements or RNS's to the owners of the company.

How can a CEO expect to be retained in his position when failing to uphold the fundamental responsibilities bestowed upon him?

LOL TH2, go check my profile. I am all for O&G exploration and production. I am invested in another junior oiler (I'll not mention the name) that is doing very well at the moment.

You need to give it a rest with your clueless ramping. Are you believing your own hype? Try doing some thorough research and you'll soon see the obvious facts.

UKOG is barely worth £3m, let alone £30m.
Turkey is a punt.
IoW is a waste of time.
Loxley close to other past wells that didn't show commercial levels.
BB has abandonment costs.
HH is close to being permanently shut in, more abandonment costs.
All I see is cost upon cost upon cost.

Sando knows this and has already started with their next cunning plan, geothermal. You'd be right to think that this company is a joke. There could be 30 billion shares in circulation within 3 years if Sando manages to stretch it out, what price then the SP? 0.03p at best.

The other side of the "superseded immediately by the production phase." coin, is that even if it is 40 bopd, UKOG and AME have to produce from the well even if it is at a loss. It's a double-edged sword, so you better hope that AME have picked out a good site.

p.s. AME will be making a little profit on their charges to UKOG for use of their staff and RIG, it will not be a cost neutral drill from their perspective.

Just like HH was going to be robustly commercial... LOL. Yeah ok. Ever heard of the boy who cried wolf? It works both ways, the CEO who cried "transformational". I'd rather invest in a primary school kid's lemonade business.

Poor Wizard, you immediately revert to attacking me instead of replying to the points I made.

Go on, tell us why you think the UKOG CEO is professional, competent, honest and having integrity.

I don't need to revert to personal insults, I'm not a troll. But if you want to put your head in the sand and defend the worst CEO on AIM, then knock yourself out. It's your cash he's putting into his bank account.

Wressle coming online to 500 bopd, and potentially further plays to produce from to take this much higher.
Royalty income is a nice steady stream, not great profit, but its profit with no overheads per se.
Those two alone give UJO sufficient positive cashflow to make some very nice numbers on an annual basis, which derisks future placings, especially given the £5m+ cash in the bank as of end of last reporting period.

West Newton about to go into EWT and the sky is the limit.

I've looked at other junior oilers; one looking at an old gas play and paying huge cash to bring that back online, another having issues with onshore development in the UK and now pinning their hopes on a hail Mary in Turkey. By comparison, UJO are looking very very tasty. DYOR.

Sub 0.03p if Turkey goes down the plughole, and with that the company will struggle to continue to operate. HH may have been profitable at an asset level, but it's oil production has fallen considerably, and it is nowhere near enough to cover the overall operating costs of the company.

Hence my view; UKOG will delist then fold within 2 years if Turkey is a failure.

Sting69,

I take issues with your views of what constitutes professionalism. I can set aside your grammar and spelling, which is atrocious, but your views of professionalism are terrible.

Firstly, professionalism has to go hand in hand with integrity and honesty. One cannot lay claim to being professional without having integrity and honesty.

With that in mind, lets look at a few points.

1) The CEO of UKOG continues to make "transformational" claims. We have seen that same claim with Broadford Bridge, HH, IoW, Loxley. Of which 2 have been drilled and only 1 has flowed oil. The oil production at HH is fast approaching a sub-commercial level. Hardly transformational. UKOG continue to hold back on providing detailed data showing output, leave it to the OGA. Integrity and Honesty fail!

2) The claims of Turkey being transformational will fall on deaf ears when it comes to serious oil and gas PI's. Simple reason being that the CEO is refusing to issue details of the expected flows or to provide data for close by plays. How can he make such claims and expect PI's to buy in without providing some evidence to support his views. It's akin to an amateur boxer saying that he could knock out Anthony Joshua, it's all talk and no walk. Integrity fail!

3) The falsehoods surrounding the dual completion of HH1 to produce from Kim and Portland. Correct, never delivered. Honesty fail!

4) Planning application to reduce storage at HH, yet no RNS to confirm this to the market. Hmmm. That's just poor show! Integrity fail!

5) Claiming that CLN is not death spiral financing. Integrity fail right there!

6) The CPR for HH, that was to be provided after EWT. Where is that? Integrity fail.

7) Refusing to do Investor calls.

8) Refusing to put the AGM on a simple to access service and refusing to make a recording available on their web-site.

I could go on and on and on. But LSE has limitations.

So, when it comes to being professional, it's not just about drilling a hole and filling applications with the CC's.

Honesty and Integrity to the fore.

As for competency, I see that you decline to comment on anything I posted yesterday.

But hey ho. Like you say. JOG ON!

Sting69, how about you comment on their competency in drilling one duster and one water well in 5 years whilst using 10's of millions of PI cash to do so.

Tell me, is their technical competency really that good? How about their financial competency? Sure, they are good at raising cash, but companies are usually rated from a shareholder perspective and the placings and CLN did nothing but create huge dilution and a SP death spiral.

There were other options.

Would you care to comment on why UKOG spent £12m on Tellurian's 35% share of HH? For it only to have a NAV of ~£5m. Sounds like they over-paid by a factor of at least 7 for that!

Do on, show me the evidence of their competency? Do you have a clue about how to rate the performance and capability of a company?

p.s. I will not reply with an insult towards you about life!

Oilman Jim picks up on one point in the RNS. UJO made a loss.

Well, what a surprise. UJO have only just started receiving income from Wressle, West Newton is progressing nicely. How could you expect them to make a profit Jim?

The more important points were; cash in the bank, Wressle producing and due to increase with proppant squeeze, West Newton about to go into EWT then CPR then probably sold, not to forget the other assets and the royalty income.

Oilman Jim hates UJO. He does not see the obvious positives and the very good prospect of UJO delivering something amazing in 2021. Maybe he was suckered by Hurricane and UKOG, or RMP, or AAOG. I've read a few of his blogs over the last 2 years and he has been consistently wrong on pretty much everything he's called on junior oilers.

20p? LMAO.

With 12,956m shares in issue, with at least 2 placings and probably 3 to come in 2021. There will be in the order of 18 billion shares come end of 2021. But let's just take 13billion in the calcs for 20p.

13 billion * 20p = £2.6 billion MCAP....

You have to laugh

Present MCAP is ~ £30 million

So those saying 20p are suggesting a 86 fold increase on current value.

You can keep laughing. It's seriously deluded thinking.

UKOG will be lucky to see 1p, and that would need Turkey to be a rare and unexpected success versus other plays in that region.

All in my opinion. 86 bagger. LOL!

Mullins you are right. The SP could bomb any minute, just waiting for the placing news. It's drifting slowly as expected, just wait for the worst kept secret on AIM to drop tomorrow (that's my prediction).

Sando will always ensure that he gets his wages and will use PI cash to do so.

In simple terms, UKOG cannot get a placing away, so they are now looking at every possible angle. Poor Sando, he'll be looking for another job by Xmas, or retiring...

p.s. Pboo now in my filter bin. Where he belongs.

Pboo, all I can say is "yawn". As if your Twitter posts have any direct impact on the business value and future prospects for UJO. All you do is deramp with the agenda of supporting the protestors. Do they not know that you are an Oil and Gas fan? How can you willingly support one oiler over another from a protestor standpoint? Do you not find yourself a bit confused when you look in the mirror?

So, it's clear that you hate UJO, and love another junior oiler. Yawn.

Your de-ramping does nothing to hurt UJO. The EWT will be coming to WN soon enough and the results and then CPR will dictate the market value. Then there is Wressle, progressing nicely, with proppant squeeze coming soon. You can print this post off, then put it in your pipe and smoke it.

LOL. Rapid progress. But as Sando loves to play his cards close to his chest, then you'll find it hard to get any formal company positioning statements in relation to expected flows. All you get is the cashflow to fund subsequent drills in Turkey hype.

Do you think that AME have an option to decline drill of 2nd well if the 1st well is rubbish? After all, they would not want to be coughing up 50% of costs for a duster.

Will UKOG have enough cash to pay the wages in the UK next month? Sando will not want to risk being unpaid.