Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
With reference to Saudi Oil production cuts to under 7.5 million by Ocelot.
What relevance does that have being posted on this board.
Or do you mean that UKOG should follow suit and cut their production rate from 125 bopd to 45 bopd.
Opec no doubt will be watching Saundersons next move.
This company will not survive another 6 months as its fundamentals are so poor. It has no revenue,cash in the bank and moreover has no proven reserves.
The 90 day extended well test commenced in August 2019. It should have been completed in November 2019. Why has the ewt not finished yet ?
The company now has 8 Billion shares. The Share Price is at an All Time Low and with no revenue source the only option is further dilution.
This is another AAOG or NTOG.
A lifestyle company and nothing more.
This is not an Investment. It is a Junk Stock.
Perhaps you would care to highlight some recent positives or where you see some potential upside moving forward.
The Share has lost 95 percent of its value in the past 12 months. The market dosen't lie.
Perhaps you can see something that the 99.9 percent of the wider market cannot ?
With very little revenue for the foreseeable future. 150 bopd at the current oil price will not cover the companies very inflated operating expenses.
There is no cash in the bank. The revenue expectation moving forward is very bleak. Year on year UKOG are posting huge losses. The 90 day extended well test started in August 2019, are ukog anywhere near posting the flow rates ? UKOG have no CPR ( probable reserves ) so cannot raise money which is desperately needed by any other means than by further dilution.
5 years ago when the current CEO took over UKOG had 350 million shares in circulation.It is now 27x this number at 8 Billion.
This company will struggle to Survive.
What percentage is 10 million in relation to 8 billion ( shares in issue)
0.15%.
This is only moving in a continued southerly direction.
No oil, no revenue. 90 day ewt has so far taken 240 days.
Meanwhile Saunderson collects his 600k per annum for generating absolutely nothing apart from more dilution.
Lifestyle company.
There is nothing positive to look forward to here. Look at the charts, the SP is at an all time low and the latest income statement makes terrible reading.
There is also over £ 2 million of the loan reduction to clear which when converted into shares by YA will add an additional 500,000,000 shares to the 7.5 billion currently in circulation. The 90 day flow test that began in August has so far taken 210 days with and has produced more water thsn oil.
Yet many deluded posters on here still think that this will reach 3p. Mark my words this will see 0.175p and below very very soon.
I have come across this poster previously. There are numerous individuals posting using the same monicker. Don't engage with them you will be wasting your time. Never invested but with a clear agenda. Paid to do a job and pretty good at it.
Sachs1,
Keep up the good work. Most LTH's will remember the events of summer 2017. This is just about to take off again. A good sign is always the number of negative posters trying their best to paint a negative picture for what I can assume are their paymasters as they are not invested and the Share Price is only going up from this level so they cannot be shorting as it is difficult to borrow shares to short and at this price level it would be foolish. Their posts are merely splitting hairs about complete technical irrelevance. ( absolute rubbish )
You will find out VERY SHORTY that the Institutional Investor that took a large stake in UKOG are one and the same investor that bought a stake back in 2017. Those that were here at the time will remember that the Share Price rose to 11p. Take this with a pinch of salt if you choose to, that is really not my concern.
Good post and very factual. A poster that appears to have a genuine insight.
Unfortunately, FJones that same cannot be said about you. Are you paid to drum up business on this board.
PS I have a very good recollection of your modus operandi ( posting g...bage )
Lots of potential here but solid news is needed. This has drifted down miserably since January's brief high of 16p +. News on Rig Contractors, Genuine CPR, drill dates together with update on SNPC debt/payments.
Sefton did not help one iota either
The latest piece of the jigsaw has now been put in place and confirmed via an RNS yesterday. One last horizontal section to complete then the flow testing will begin. SS no doubt will be quick to update the market as potentially 5 or more tankers a day leave site with their light sweet crude.
Forget all the negative posting ( each has their own agenda ). They usually post about Fracking in the full knowledge that UKOG don't frack or the other favourite is YA Global and Death Spiral. ( Business should be concluded with them soon enough ).
After the election is done and dusted the 'Temporary Fracking Ban ' will be removed. Too much money at stake.
I don't take any notice of 95% of what's posted here.
When the market place wakes up to what UKOG have, we can expect the long overdue move upwards towards 2.5 and beyond in the short term.
This I expect to happen with the next fortnight. Long overdue but it will be worth it for those LTH's knowledgeable enough to see the wood from the trees.
Goldman Sachs1,
Most sensible post on here for sometime. LTH's are fully aware of what is happening at UKOG and the impact this will have on the ridiculously way undervalued Share Price. 6p will do nicely for starters.
When this moves it will do so very quickly. Similar to events at Broadford Bridge 0.80p to 11p ( July - Sept 2017 ). The difference this time is that UKOG will flow and produce 1,000's of bopd.
This man reminds me of a certain Matt Logran ( The CEO ) at Nostra Terra. Talks an awful lot but delivers nothing but shareholder misery. Those that continue to ramp this must be sitting on losses. Not a good investment until concrete reserves and production confimation are received.
I see that he continues to out perform the ftse all share index. Does this buffoon continue to draw a salary and if so i trust it is not performance related. Last year it was all about the 21drill ready well locations. All he appears to have done is open new offices.