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RNS from 1st March states with Tarba and acquisition that income stream will be four million (assuming Ed has no more delays up his sleeve) and that a high proportion of this will hit the bottom line. (With our HOLE mkt cap being 3 million at these levels) has anyone comparable figures (or have Pxen ever said?) what margins are to be expected??
ie is a high percentage 20%? 50%? 70%?
Both Spain and Italy appear to come to fruition this next 12/15 months (with income from one ‘later in 2021’)
…. Now I know Ed is better at ‘kicking the can further down the road’ than world central banks are when it comes to paying back budget deficits, but unless something comes over the hill unexpectedly… then the 6p someone mentioned the other day … is in itself still too cheap.
Yes I know all about Ed … yes I know about his presentations … yes I know about work over costs to hopefully get output of the project back to 100% levels
…. But why are we sitting with a 3 million market cap? Is it just that they are so inept at credibly telling the story??
… 6p which would be a mkt cap of 9 million. I think you may smile sooner than many might think.
Nice climb this week but unless somehow we defer again for another 12 months ?? We should be much higher, this is absolutely one of the most undervalued shares at anything much less than that. (Even with Ed)
Made me laugh that Eric Eric…. He can’t hide behind the cabinets everytime there’s an interview… while an oppo says “Sorry Andrew can’t be here to deliver this upbeat presentation to tell you all how profitable we are. He’s sorry but he’s on him way to Zimbabwe” …. Maybe he’d gone on foot ?? He doesn’t seem to do much else, so he would have the time.
Unfortunately it won’t be long before we can track another crate across the planet … two Phillips screw drivers and a set of spanner’s to be ordered for Fintstones Rock crushing plant I’ve heard.. (on the hush hush obviously)
I note your point regarding nothing new here.
(Not even a yearly RNS to say “ things delayed by another year”)
But how on earth do you value PXEN??
They are loaded up with percentages of Italian and Spanish assets that absolutely dwarf our current mkt cap.
I get why the share price languishes,,, Yes I too share the concern that (Ed) management should present themselves as Rory McGrath with a monotone voice, no drive, no motivational style and who looks like he woke up in a hedge before running the 1500 meters in a suit on a hot day. However we are surely at some point to set that aside and let the facts do the talking. This current valuation as any sort of reflection of what will happen this next year is farcical… income stream and margins should have us many times this level.
That I think answers why we have started to move up. Just my opinion. It’s said many times …. But this is in your top few undervalued companies on AIM.
My thought (again)
‘We will be successful despite Ed and his team … if not because of them”
Ha ha ha second ever post … and we are supposed to believe you are not Daza the sequel ??
I said yesterday you need a new name but wait till more than two posts EVER before you post negative stuff.
As if someone has a second point ever on LSE and it’s “ooow I won’t be happy till the stuff is coming out of the ground” …. Behave it’s laughable … and on such another good day for the shares you don’t have!!!
….don’t worry Daza will be around shortly but probably under a new name.
He must realise this one doesn’t work anymore … it’s gone up 70% since his wise words around 15/16 … to be sensible and bank profits. Again at 0.20 bless him like a shrink for people who have had a gambling habit he was banging on about all our future wealth and how he was just ensuring we were all protected… like having our little own social worker just for KOD investors.
I told him then, and many have told him since he needs to worry about his ‘short’ …. and consider maybe reappearing with a buddy in tandem so they can bounce negativity across each other as though they were chatting as two people (with less than 5 previous posts each) who didn’t know each other.
I agree with Cyan’s view and inevitably this will get diluted further.
Sanderson has a smug, unfortunate demeanour that manages to display almost contempt for shareholders.
He is either the unluckiest’Geologist’ CEO the world has ever known, or for years that the almost disciple like following wouldn’t challenge while he was harping on about gushers that would see the ‘Holy Grail’ and a sensational outcome for all.
Against that Ukog have built up a portfolio of assets that you would say “can’t be all duff” .... I think it’s fairly reasonable to assume Turkey will be successful... and eventually if the south east corner of the country doesn’t crack off and drop off into the English Channel cos he’s cris crossed so many blinking drills that it is now barely connected to the rest of the U.K. land mass .... that one or two will be successful. (IOW I would think is a license we were lucky to get).
Therefore read also very closely into the fact that the selfish Sanderson who looks after himself, and only himself ... didn’t buy into a share that went from 0.4/0.6 to 11p (ie he didn’t believe his own froth and testicle juiced lies) but is prepared to be buying into these 0.21 confetti..... he has always failed to align with shareholders, castigated for having no skin in the game. Furthermore his judgement to get Lenigas into the early day rampathon’s is an illustration of his reasoning.
He needs in no uncertain terms to be successful in Turkey ... but an income stream of any significance would be transformational for UKOG and the share price would react (finally) as that is what is ... and what will remain UKOG’s Achilles heel until it happens.
There are many great stories out there, and it’s the job of the companies to spin plates until they can get there. Mr Sanderson is on borrowed time for achieving that, but als is handsomely rewarded for presiding over his shambles.
On a Risk and Reward basis the above negativity is more than factored into UKOG’s share price. Time is running out Mr Sanderson... I just think the darkest hour is just before the dawn... and you will eventually get it right, saved as a U.K. focused oil company by having to turn a card in pontoon whilst holding 16 .... it is by hope you don’t get the picture card at this point that means maybe you weren’t unlucky ... but actually inept, and that that is the reason you honed your demeanour!!!!
Profit / Loss
Income / Outgoings
(you overpaid buff##n)
They’d better be careful or they’ll create a market in PXEN shares.
I have ‘Hold’ as I’ve got shed loads (too many for a crappy share with no management guidance). We are however just a piggy backer of other projects ... hence the comments from earlier in the week ... as to what the #### do management do?? But I have to concede having vowed never to thinking I was cleaver averaging down I had to this morning. Surely they can’t keep ####ing everything up and delaying for yet another 12 month period??
MM’s They will take nearly a million at 1.58 so it is waking up.
Surely ...finally this is the time to buy into our sloath ED and his flatlining team??
.... by the way as a company that just owns a minority holding in other companies assets 17% of ‘x’ etc
..... did anybody ask “what the #### do you do all day??” to management. They must only employ any additional non exec hangers on .. further drain on resources (but what do we expect) so they have someone to talk to .... the work is done by the parent company. Unless Ed is digging the pipe to join up with the gas supply.
You are right in the post from Sunday .... we will be profitable despite useless ED and him being the least professional looking guy since Rory McGrath or some guy who’s just run the 1500 meters in his suit.
It is criminal that these companies can be lifestyle company for the management but revenue will mean mkt cap has to react once (if) they stir themselves into action.
Sum total of last three years is ... change name ... throw away all the old compliments slips and letter heads... design a new logo (sorry pay someone a shi7 load to design one) ... ensure new paper clips are all colour coordinated... and go on Proactive Investors once a year to say ..”due to delays it’s all moved back 12 months”
Flipping joke ... but I do think any week now the share price may start to creep up (it needs to) !!!!!!!
Exactly as I said over the bank holiday weekend. We find our value which these next few months I’m sure is proved up as much higher than this ....... but it happens only once the sticky hands are holding and the traders have found a new toy.
That is just about now .... income streams that were coming on stream before Racecourse underpin on their own a share price of this. Discard Racecourse and it’s easy to value at 4.00+ .... add it in and however you chose to slice it your answer isn’t four. Buying now you do not lose money, the information is out there ... but those trading it as it went 1.90 to 4.00 to 9.00 to 5.00 to 8.00 and back to 4.00 cannot on slow release of news now, send it all over the place and you real buyers fill the breach and we climb to more realistic values.
Yes you are right some normality has returned to the board.
I posted way back that I felt the SP would only start to reflect our true value, and potential value when the herd move on. Initially after such a big rise “agenda’s” mean traders sell then deramp etc etc as there has been big profits for traders who just jump in when they see movement in ANYTHING and are only here based on price action.
Let me take you back pre Racecourse to a company who’s share price traded around 1.50/1.70 and spiked a couple of times to up around two ... then back to that previous range stated. What were we saying on here??
I’ll tell you ,,, it was that the share price when we become cash/ income generative from the other assets will be up in the 4’s and 5’s.
Putting it bluntly.... throw Racecourse away as a ‘free hit’ and the value once on stream covers our current levels of share price value alone.
Once the froth has gone .... this will find its value ... all I’m saying is “whatever the value it will be way way higher than this and there is no need to panic”
Sensible board with a sensible value to come through in our share price !!!
“What’s that coming over the hill is it a monster?”
October’s info weaselly to be dispatched “the next week or two arrived in March”
GR never delivers on time except when buying parts of his mates businesses at a premium. I invest here despite him not because of him.
He does my tree in ... but once he’d let me buy in participating on Primary Bid at 0.40 ...(so pi’s could join in) I’ve never looked back.
If will come good ... sure of it... but you need to be stubborn and refuse to sell .... while GR moves painstaking slowly, in his lifestyle company.
I had a buy of 900,000 CLP at 0.16 so my first and only 10 bagger (I’ve one or two worth 10% of original investment too) and as that’s only 18 months ago I think I’m being greedy hoping/expecting good news.
I started buying and kept averaging down ... (like a stubborn b3£stard) .... it should surely be positive (or delayed) can’t see it falling apart somehow ... but Italian angle always scares me.
Too many movies ... too many stories of horses heads in beds .... I wish we were waiting for info from a court in Devon or Dorset.
Ibiza a bit like watching paint dry?
.... heaven help me if this like watching paint dry ....
these move quicker than most things I’ve got ... when they motor they really motor, but even 7.10 to 7.32 to 7.36 in a couple of hours was 2.5% ....9% by the end of the day.
Exciting paint !!
I have to say when this lands I find it difficult to value it at just double figures ... around 10/12 ...surely it’s worth twice that. I know we’ve had many false dawns but the drift (I suppose quite rightly down to 3 ish should reverse significantly. People thought they were buying in cheaply, and putting articulate arguments as to why, when we were way higher than this.
Stevemocal I am of the same opinion... how on earth we are hovering under 5p when we were knocking on 9p with less info but hey that’s AIM for you. Sentiment and rampers do have an impact, there are some absolute crocks of 5hi+ valued at ridiculously high amounts.
It should eventually come through ... we just need the traders to find a new toy... and volume to arrive on investors with sticky hands.
You have to tell yourself do Yorkshiremen stump up their hard earned in such large amounts. I remember filling my boots when Colin last got some buys in ... that time was around 1.05/1.07/1.10 ish .... a years time this will be double figures I’m sure. Trouble is a trader wants it this day week or during their T20 punts and that ain’t happening as it drifts.
Christ the man must have no life ... or nobody who he holds the attention of to the end of his sentence (except when given oxygen on things like this)
He was here the other day clogging up the board ... and I’m sure he was one of the ones telling us to head for the hills at 0.16 ... like a public service announcement for those he feared would be parted from their money.
It always annoys me when they turn up in two’s to bolster each other’s questions and egg each other on giving out ‘negative comments & vibes’ that the other runs with... like you’d really do that if you were a fearful owner.
Dear me .... when this double bagged from 0.12 to 0.36 and ran out of steam ... it’s bound to retrace till the next leg up builds and when it does it will climb nicely.
Please tell me ‘this is a party political broadcast on behalf of the Monster Raving Loony Party won’t still be trying to protect my hard earned.
Like the other Good Samaritan when the price was 16 one morning... ridiculously at pains to help and support and protect his fellow man from losing money.
It’s like a helpline set up to ensure money isn’t squandered and encouraging us all to sell up due to a significant number of things.. large sells in the background ... no future for KOD ... dodgy dealings !!
Like you I have never bothered to give a 5£it enough to ever bother uttering anything on a board where I wasn’t invested. These fellas are ... isn’t that lovely ??
I’m with you H202 ... I have no issue in averaging up and buying more, despite having got my average down to 4.6 from earlier it being much higher.
On the assumption it will happen after so many false dawns this time ... it will build on that hope and properly properly take off when it does arrive.
I may even T20 a few and sell into that rise with my long term holdings. I firmly believe it will arrive this time... it is no longer something that will happen one day ... but an actual immenant event.
I haven’t got a short but alas AP makes it very easy to allow anyone to come on and bash.
Due to that I’ve come on to support him and get some cheery sentiment going.
I thought I’d highlight his achievements and positives
.... but ....errrr .... uuwww ... nope he’s beaten me.