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But they told the BBC they never said it and they also made claims like "Kimmeridge Oil can reduce imports by ~27%"
Here's Lenigas repeating the 124 billion barrels claim:
https://www.youtube.com/watch?v=tnYmaeBOQlg&t=203s
The BBC nailed SS years ago over the 100 billion barrels claim:
https://www.youtube.com/watch?v=a2h2kWmf5iA&t=60s
And here is SS again repeating the claim:
https://www.youtube.com/watch?v=6h2HxOe8WLI&t=976s
52 Week Low 0.024
52 Week Low Date 02-May-2024
"It will be interesting to see if he takes the company private"
He would probably need to become a major shareholder and he's not that stupid.
52 Week Low 0.0245
52 Week Low Date 02-May-2024
Ilovesushi,
ā For this it will received Ā£420,000? Take away Mr Sandersons wages of Ā£330,000 the company will have about Ā£90,000 left as working capitalā
UKOG doesnāt receive any new money from these loan conversions, they simply reduce the loan liability.
UKOG did receive Ā£2m cash back in June 2023 when the loan was taken out but that money was spent long ago.
The current marcap is Ā£1m, if only another 65% of shares are issued and they manage to get the current SP (very unlikely) that would only raise Ā£650k. Operating cash flow is minus Ā£245k per month, so that would keep them afloat for less that 3 months. That is assuming they are not spending any money of investments like HH, Loxley or Portland.
The next fund-raiser needs to be several million, existing shareholders will be diluted to nearly nothing.
He wears brown trousers these days so that you can't tell he's shat himself over facing shareholders.
Do they retweet every time 3 or more disgruntled share holders reply calling them out for the sham they really are?
They say āUK listed energy companiesā not āmajor onshore playersā
They are having lunch with two-bit AIM/Aquis wannabe companies
After years of searching we canāt find anyone to farm Loxley out to.
We are now spending money we donāt have to see if someone else can find someone.
I predict that the next RNS will either be suspension or get the world-record for containing the most BS in a single RNS in the whole history of AIM RNSs.
ābut what?ā
Administration?
@Insidious 22 Feb 2024 19:13
"Murray Auchincloss could be looking at buying the HH asset from UKOG..."
It's almost as if you are making stuff up
They are just desperate to get as much of their money back as possible.
RF/YA would love the SP to go up as that's the only way they can get their money back. UKOG have a fixed number of shares they can give RP/YA which at the current SP isn't enough.
Any company can apply to NSTA when UKOG's PEDLs lapse due to insolvency.
Prior to the latest 200,000,000 issue the loan balance was Ā£545k.
Say they manage to get 0.035p (being generous) for each share then that's would reduce the balance by Ā£70k to Ā£475k.
UKOG has authority to issue 1,220,034,718 new shares, if they all go to RF/YA and sell for 0.027p that's would generate Ā£329,409.
So even if RF/YA are immediately issued with all the allowed shares the loan balance would still be at least Ā£145k.
Administration must surely be coming very soon.
If anyone buys more than Ā£34k worth they have to issue a 3% holding RNS
Hereās an example of a stealth raise of Ā£6,175,000 to part pay for an increased share of HH:
https://www.lse.co.uk/rns/UKOG/completion-of-further-interest-in-hhdl-qy2pwsvy9iwm5ea.html
Sometimes UKOG would do a placing and then use to cash to by some āinvestmentā other times it would pay in shares and the receiving party immediately off load the shares probably via the same broker that would of done a placing.