Member Info for DaveWin

Actually I wouldnt be worried if there were no tankers.
Id re-read the RNS's and assume that they must be in a shut in period for pressure tests.
Or they were running slow speed tests.
Only an idiot would assume anything else and considering oil has freeflowed (pesky RNS's again with factual events), I sincerely doubt a lack of tankers would mean anytning else, certainly not that we have suddenly run out of oil. Again anyone who did would be an idiot, or even worse trying to kid on and spook other idiots to sell their shares here.
We are testing, nothing else. Tankers will come and they will go but they wont be rolling in and out like clockwork and if they dont turn up theres an assumed issue.
There isnt, as the testing is for differing pump speeds, choke settings, time periods and again unless you have the test schedule in front of you to follow then frankly anyone making assumptions is speaking out of something they should be sitting on

Why are so many posters fixated on tankers and predicting when they will or wont arrive?
We arent producing. WE ARE TESTING. That means rates will go up and they will go down. Sometimes ramping up, sometimes stopping altogether for days.
It means nothing other than we have a test procedure and they are following it.
Getting excited and predicting or theorising on when we will need more tankers next because of x,y or z
Give me a break
Unless you have the test procedure in front of you and you know exactly where we are in relation to it then shut up. You know nothing and have no idea when or even if any more tankers are due.
They'll arrive if and when we need them, not before ffs.
Stop ramping the crap out of this.
We will get there when there is an RNS, not before

We are going nowhere fast without financials.

Careful or you will get burnt https://m.youtube.com/watch?v=7hx4gdlfamo&feature=youtu.be

Think Zaza is full of excrement?

Solo Oil Chairman explaining his decision to swap their asset for 4% of UKOG shares.
Around 2 minutes in he states that hopefully commerciality will be announced in next week or two
https://m.youtube.com/watch?v=Fc2-zOwtxeY

To a point

Not the most adventurous of commitments that we will complete minimum of 2 drills in the first 4yr period

What exactly does this mean?
Ive just read it and tbh im at a loss as to what it is that im reading.

JJGazza, thanks for taking the time to try and shed some light on it. As said earlier my head hurt trying to work it out. Now its on paper and I can follow your reasonings, then as you say a £2.7million potential financial upside every year for possibly a 30yr lifecycle isnt bad business at all for a £4.5million share issue today.
In less than 2yrs at a mnimum we wouldve recouped the initial outlay and then anything after that would be 96% profit (accounting for Solo 4% ownership)
Not a bad little earner at all based on those figures.

Thanks Starbright
Then i assume we would have to factor in that we only own a certain %age of HH so cant claim the full profits on 100,000bbls so we would need to generate even more still to satisfy that.
Additionally we are now 4% owned by Solo so cannot even claim 100% of the required production profits either.
My head hurts just trying to factor it all in lol

This morning we announced a £4.5million purchase of Solo Oil 15% holding, which they subsequently then reinvested in new issued UKOG shares at 1.92p giving them roughly a 4% stake in UKOG overall.
So, i can understand the appeal for Solo as they have just monetised their stake with a hefty ROI at the same time as derisking their exposure to any future financial requirements to fund the development of the field to full production etc
My question is quite simple
The additional 15% that we have attained from Solo needs to be attractive financially to UKOG for them to have paid £4.5million consideration for it, so at what point does this become so? What volume of oil do we need to say that we are now in profit on this deal?
I understand Solo's motives and the financial upsides, what I dont understand is what our financial upsides are?
Anyone care to deconstruct this deal and shed some light on it?

Some very large buys going through. It bodes well for a blue finish to the day

No dilution, for the shares we have gained Solo's piece of the pie.
How exactly is that diluting anything?

Based on the deals made so far, what price Alba and what price Dor?

My average is 51p with SOU and its about time that he pulled his finger out and started generating shareholder value.
Ive been here for 3 years now and had to average down time and again and ive far more invested here now than I ever envisaged.
Less talk, more action please. Firm up the results and then sell the lot. Sooner rather than later please as my patience is wearing thin

£2.23 and £5.00

I mean what exactly are you trying to achieve?

I worked it out earlier and I just need this to multibag 5 times and im at breakeven
What a criminal fall in SP this has seen yet those responsible swan off with golden goodbyes.
They need shooting not rewarding

Would anyone buy such small amounts as the two trades this morning??
It costs more in brokers fees so what kind of moron does that?

So many derampers appear out of the woodwork, all wishing to spook PI's into selling their holdingd
Personally im lomg and strong
No-one is getting their hands on my shares when its all to play for like now