Member Info for CynderLad

glad I'm here and not in the Weald oiler that is a dog.

EWT incoming. Results could see this go to the moon.

The mobilisation for the EWT nears. Buy on rumour, sell on fact. Just wait for that EWT to gear up, the volumes will be high, and it will be on speculation that the EWT is every bit as good as the ramping across Twitter, LSE, etc.

The SP has a long way to go and it's going to be sooner rather than later for news to push it along.

*All my own opinion. Not here to ramp, just sharing my feelings.
**I see no red flags with UJO right now, just a big green light

But it was a waste tanker. SO I'm not being positive am I!

Penguins was correct to point out that 2 trips would be cheaper than 1. BKP are able to allocate a single job to one driver + cab + trailer for the day. There is definitely a discount potential for having two trips on the same day over two trips across two days. "Wow", you may think, Cynderlad is being positive for once. LOL.

Ozzy, I've reported you again this morning, if you think its acceptable to make a joke of mental health and self harm, then you don't deserve to be offered a pedestal to throw your insults and abuse about.

Agreed Mirasol.

So BB and HH present no realistic revenue streams, it'll be abandoning costs. Will HH ever produce enough oil to cover the future abandonment costs?

Loxely = it'll not ever happen. If Turkey is marginally successful, then UKOG will continue to invest there in preference over the UK. If Turkey is a failure, then Loxley drill would only be a ceremony to pull in cash from PI's to fund the lifestyle crew.

So, yes, Turkey is the only show in town, and it better be a good one, otherwise it's delist/receivership.

*** Opinion, etc, etc, etc

ZYX098 makes good points.

I will ask another question (I'll let others decide if it is a good point or not).

UKOG always made a point of detailing that the oil from HH1 was "dry oil" with no water cut.

When it ceased to be the case, and when the water appeared in production, I do not see an RNS where they confirm this to be the case. In fact, all I see is the lack of mention of "dry oil".

Now you can call me pedantic, but why does Steve think its fine to withhold/hide the fact that it was no longer dry oil? That was very important and hugely sensitive data, and the market was not informed. Indeed, it was 3 months later via OGA figures that this was determined to be the case, and yet still no RNS from the company to confirm.

They are playing a very dangerous game with other peoples money.

** opinion, blah blah blah...

Ocelot, the purpose of my questions is to drive debate.
I do not see any debate here. I pose some questions, let the rampers answer them.
Go on, educate me, show me the brilliance of your research, show me how I am wrong about the CEO and the company, show me that there is an investment case.
I'm used to the adage of 10 positives can be killed by 1 negative, but with UKOG its a case of 10 negatives cannot be outdone by 1 positive.

The UK based assets are not a company maker, it's just cost and no return. Loxley/IoW will add to the record making it 4 failures for 4. HH and BB already a failure in my books.

The Turkish opportunity is 1 positive, but unfortunately, the company and the CEO are so poor at informing existing and prospective investors about the Turkish opportunity, that it becomes a gamble rather than an informed decision. The level of detail on Turkey would fit onto a fag packet, how can they truly expect PI's or II's (chuckle, chuckle) to invest on the basis of what they have provided thus far. Its a joke, I've seen primary school children present projects with more detail than UKOG have presented on Turkey.

If you think that's fine, then knock yourself out, but don't be expecting others to take a wild punt, and don't think that its a matter not worth debating. Turkey is catalyst for this company to change its fortunes, but if it fails, then the company will too.

*** The above is my opinion, do your own research.... and beware of rampers.

Ozzy to quote Jack Nicholson "you cannot handle the truth"
You are too lazy to answer any of my questions, and as for "go ask the CEO", don't be so churlish. Its the very issue, the CEO is refusing to provide any meaningful updates, he should be booted out.
Wake up, smell the coffee. It is so plainly obvious what is happening. You know the truth, but you cannot handle it. And you would rather not answer any of the questions, because you know that the answers make for poor reading.

1. BB is wholly owned by UKOG. If it was a simple case of using a new technique, then why did they not focus on using a small amount of cash on that sidetrack? Instead they raised cash and diluted shareholders to; buy out % of HH PEDL and to invest in drilling at HH. My only conclusion is that they know that BB is a dud, there is no Portland play there, just the Kim and it was obviously sub-commercial (as highlighted in the planning application for Loxley).
2) They didn't drill a Kim sidetrack on HH1 using the fabled BB alternate completion technique as they know that the Kim at HH is also a dud. They would have wasted a lot of cash on proving themselves correct, for once they did not chase PI's for cash for a fruitless exercise.
3) They did not drill into the Kim on HH2 well for obvious reasons, see #2 above.

I'll let others chip in on answers for 4 thru 15.

Re-posted from yesterday to make a point!

1) Why haven't they drilled the low cost side track at BB with alternate technique?
2) Why didn't they use that alternate technique to drill a Kim sidetrack in HH1?
3) Why did they not drill HH2 down into the Kim? Did they already know that it was a pointless use of cash?
4) Why is the CEO AWOL?
5) Why won't the CEO issue an operational update with full unabridged report showing all technical details in relation to the HH1 and HH2 wells?
6) Why wont the CEO tell us the funding position for Turkey?
7) Why wont the CEO give us an estimate of revenue stream and strategy for Turkey, and how cash could be used for activities outside of Turkey?
8) When does the BB extension run out with the County Council? DO you think they will extend again without a fight given the recent decisions for similar applications (Loxley and Balcombe)?
9) What is the current cash position of UKOG? How much do they need for Turkey?
10) What is the plan with dual-completion at HH to bring Kim and Portland in HH1 together? What's the plan, activity list, dates, costs, etc?
11) What pay cut % did the CEO actually take?
12) Will the CEO be up front and honest on bonus position and rule out a bonus right now?
13) Where is the update on overall company strategy? There is no recent presentation on their web-site that details what they plan to do with timescales. (Not that we would believe them anyway, the delivery on past plans has been complete failure)
14) Why wont the CEO buy any shares and put some skin in the game? If it is clearly so amazing, then why is he buying average 19th century fine art at auctions instead?
15) Why no Investor call or interviews?
16) My daily negative rants. Hardly a rant. I am sat here laughing at the ineptitude of rampers on this board making countless factless ramps. The issue is common decency; at least with the likes of DanPoe it was clear small timer comedy ramps with "BOOOOMMMMM TIMEEEEE!" style comments. Others posting here every day are making wild claims and talking down "real" discussion. I'd challenge Ozzy, yourself and troll hunter to respond to my above questions and provide "real" responses rather than just "what a bozo clown XR swampy idiot this bloke is" style responses. I am not an environmental campaigner, I am heavily invested in other oilers (I'll not name them here, you can check some of my posting history, I'm not here to talk down one stock in favour of another).

So go on. Come back with answers on the above, accept my challenge and give honest answers with whatever evidence you have to support your position. Then we can all agree that there has been real discussion rather than just tub-thumping.

I'm sat on a 30% profit right now, but I'll not sell at these levels. Its a hold for me. I dont mind the odd red day, I'll back my research and hold this company for several months minimum.

"By July Resan will be in production too!!!" - Can you give some facts to back up your opinion?
I've not seen any RNS to show that UKOG with AME have actually been given the thumbs up by the Turks yet.
How long do you think it takes to mobile and drill?
15 weeks until July, do you really think that AME/UKOG will have it drilled, tested and put into production in 15 weeks?
Were you talking 2021 or 2022?
Are you guaranteeing success?
How much will UKOG have to raise to cover the full costs from AME?
Will AME play any silly games or will they tell Stevie to keep his snout out?

Weald Oilers and his mate said it couldn't go up. Well I never. It is going up, because the company is undervalued based on its current portfolio of assets. I see this going through £1 by the end of the summer, possibly sooner. In the meantime, Porky and Weald Oiler can console each other knowing that their love for each other will always be more than money can buy.

More feckless ramping. How far underwater are you?

I am not a swampy or part of XR. Fact!

Unlike you, I wouldn't throw good money into an investment without knowing the company position. As the CEO refuses to issue meaningful operational updates, hides bad news, refuses to buy shares in the company, refuses to do investor calls and refuses to rule out further placings (in fact it's the opposite), then why the heck would I put any cash into UKOG?

There's red flags and there's red flags. You can continue your shameless feckless ramping until the cows come home, it will not make an ounce of difference at HH, or at BB, or at Loxely, or in Turkey. The shameless acts of the CEO are there for all to see. Company accounts will show how much of a % cut he took, shamelessly referring to between 20% and 50% cut, without showing any leadership. A CEO of a failing company like UKOG, with terrible results would have taken 50%+ of a pay cut and also ruled out a bonus; he did not rule out a bonus, so watch out for that, he'll reward himself again.

PI's are funding his lifestyle. You're ramping is cynically bad. I can only assume that you are holding a massive loss and praying for some PI punters chasing rainbows to believe your factless ramps. This company is the worst of the worst, and the CEO is not worthy of that position in this or any other company. I've seen pay day lenders with more honest ethical codes of practice.

I'd wait for 0.05p.

Ozzy is starting to sound lime Tymers. Maybe he has a mate in India who also wanted 10p per post. Wait, you may think that this post has no conversation value in relation to UKOG whatsoever, correct, for further examples take a look at the 100's of posts by Ozzy, not a single piece of company analysis in there whatsoever, just; abuse, ramping and feckless dross.

Enjoy your Monday.

p.s. Still no sign of Stevie providing a worthwhile update and will be get to Xmas before he does an Investor call? (you bet we will).

Skwizz you state "Sorry it's harsh, but that ain't Trousers' fault."

I'll use that, but change the context.

Why hasn't Stevie done an investor call in 18+ months?
Why hasn't Steve given us a proper operational and technical update on HH? They were issuing RNS's galore back in 2018 and 2019 when the EWT was underway. But now that the oil has dried up, that HH2z is a water mains and that HH1 has fallen off a cliff edge as a commercially viable well, the updates have ceased.
UKOG are 100% withholding sensitive news, they are fortunate that the FCA are bloody crap at doing the basics. UKOG and SS should be investigated for their misleading of investors. SS should be looking at criminal proceedings and should not be allowed to fulfil a role as CEO or Director at any company in the future.

But.... "it's not trousers fault"... I disagree, he has continually misled and lied about UKOG and about their assets "smell the oil" "train leaving the station", etc, etc. And then the lies about HH, withholding information. Its 99% his fault that investors have and continue to lose money on this absolute dog of a company.

The Planning Inspectorate should consider the financial situation of UKOG. Our planning system doesn't typically require any assessment of an individual of company's financial position. But frankly, why should they overturn a planning decision where the company doesn't have the funds to execute on those plans, and also why should UKOG be granted the rights to drill at Loxley if they cannot guarantee the funds for future plugging and abandonment.

UKOG are on borrowed time. The revenue stream is currently well below the operating costs. In simple terms, they are burning cash reserves. Their historic ability to raise cash has been a masterpiece of AIM skulduggery, but would they be able to raise £5m for Loxley? What happens if Turkey goes pear shaped?

I don't think that the planning inspectorate can refuse on grounds of financial stability, but common sense tells me that it will be the council (or other authority) that end up having to fork out the costs for the plugging and abandonment at HH, BB, Loxley (if it gets drilled).

All my own opinion.

HH is a dead duck. It may at best deliver another 100 tankers of oil over 2 years. The costs of running the site will soon outweigh the sales of crude from site. So it is really just ticking away until it's another significant capital expense for abandonment. Just like BB, abandonment costs (all capital expenses) that are not covered by any existing UKOG/HHDL funding and no profit stream to accrue to cover.

Turkey is a slim chance, go read anything by Penguins. Lack of information from UKOG tells me everything I need to know.

Why am I here? I have sold out, I wasted 20+ hours of effort doing detailed research. Time I'll not get back. Others have lost fortunes. CEO has offered nothing, led many people up the garden path, and refuses to do investor calls. It's cowardly. A CEO cannot be cowardice, he/she has to be brave, upright, and able to deliver bad news if it is needed. Its a responsibility!