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10:31
New shares are not issued yet, so they could sell them yesterday!!!
Volume yesterday was 1.7B shares traded so I doubt it will takes weeks to turn around the new shares issued on the 8th of July.
Last peak a couple of month ago seen volume of more than 10b shares traded in a single day. This will again be the case when news from Turkey comes such as drilling depth target reach, etc..+ Loxley + etc...
Will double in no time and more over the next few weeks/few months.
lol - they can't sell the new shares issued yet since they will be issued on the 8th only.
This is the best price one can buy now before the result of the Turkish well is announced. So strong buy now for a profit in the next couple of week. That's why you got more than 1B shares traded so far.
All the doom mongers were so wrong. They were saying that the placing will be below 0.15p possibly even 0.13p or 0.11p. Lol the placing is 20% up their higher prediction at the same price before the spud days. So now that the placing is done nothing will stop this to bag one or twice in anticipation of the result.
Will go between 0.90p and 1.35p between spud day and result day.
The "derampers" don't talk to share down because they don't believe in it. They know it will bag several times from this level up. But they are day traders!! not week(s) nor month(s) holders but day traders and as day traders you only want to invest for a minimum of time in a share. Between 1 to 3 days at most. So they talk the share down to keep the SP as low as possible as long as possible before the anticipated news so that they can get a higher profits when the day come to trade the stocks. They don't want to see the SP gaining 20% or 30% before it is time to buy and they certainly don't want to hold the shares for a month before it is time to buy. This is mainly why there are "derampers" just to make more money when the day to buy comes. and not having to buy at the lowest price a month before the spudding day.
Perhaps UKog would only invest if SNR was first taken out of the equation because SNR would not have been able to come up with its financial share of the deal if it remained a partner. Only when the necessary was made that UKog got officially involved.
200boed @ $55 gross profits per barrel, that's 11,000$ gross profit per day. That should cover the outgoing for Horse Hill.
Anyone buying now will profit on the increase before the the spudding day. Some delaying the buying as much as they can before the spud could make even more but there should be loser now. Also the sooner the buyer will enter the long game, the better the profits will be as we will start from an higher sp generating even more interest.
Around the spud day, there will be 10b shares trading a day and possibly more some days.
Not really true. AME have to spud the well by the end of this month as per the Turkish licence rights.
UKOG has not yet announced:
- how many shares they will issue
- what will be the price of the issue
If it is the last 5 days average before issuing, so it could be 0.25p per shares. Even 0.25p per shares would raise £10m for issuing only 5B shares out of the 8B available. With £10m, they would be set until the end of 2022 for all the wells to drill.
Current production was one of my questions on my mind. If they produce 3,000 per day, that would be a nicer revenue than I expected based on last year accounts. It would mean a revenue of around £40m-£50m if oil price can keep up this level. That's way more than the current Mcap.
For the year 2020, they managed to sell at an average price of $37 per barrels. So will definitely do better in 2021 and they are increasing production as well.
2020 revenue was just under $10m with profit of $0.8m. Revenue should at least double in 2021 and profits should probably be a multiple 3 to 5 compare to 2020, probably $4m profits. Market cap is £27M, so would definitely be better as the year progresses as they are adding more proven reserves and more production.
10:47
It's not behind schedule. It is well in advance of schedule. Drilling must start before the 27th of June 2021. It is going to start a couple of weeks before that.
Last few weeks to wait until the SP will be ramped up. Rewards from the current price is plenty as long as you exit between 1p and 2p after the ramp and before the result day.
Ok they seek authority to issue 8b shares but still investors would have to pay £16m if issued at the current SP. Ukog doesn't need £16m so they won't issue 8b shares. If they do, then it won't decrease the SP since we got the money for the dilution. It's only the re rate that would be less important but still there will be profits for everyone at this level if the SP goes to 1p rather than 2p towards the spudding day in Turkey.
It went from 0.15p to 0.45p when there were the buying frenzy about Turkey when more than 10b shares were exchanged on average each of those days when the SP increased. Towards the spud day, it will happen again and should go higher. So it should not be issued at less than the current SP because they will be able to flip their shares before the spud. If anything the issue price should be higher in a couple of weeks before the spud day will be days away or already happened. They have to spud the well before the end of June so not long to wait to see a rerate on anticipation of success and then either a climb down if it's a duster or stabilisation of the SP much higher than what it is now. In anywise, if investors are not bound to hold the shares for a year and they have them before the spud, they will make a killer even if they have to pay £0.002 per shares. Doubling your investment over a fortnight would quite good. I would borrow the £2m to take up the shares if they were issued at 0.2p a week before the spud.
Penguins - 11:14
"Perhaps they wanted £800,000 (8 billion shares)"
£800k at current SP is only 400,000,000 shares, not 8 billion. Even at £0.001 would be only 800,000,000 shares. 3% of the shares at £0.002 or 6% of the shares @ £0.001 - not a big deal.
8 billion shares would be £16m at £0.002. That's more that what we need. Not going to happen.
Personally I would issue 1b shares for £2m now or wait for the spud and issue 1b shares for £4m.