Member Info for Gerry65

just for the record have not held deb shares, though i do like the local store.

Jonjo- not sure that anything " last call" posts makes sense, looks like he has shorted here at Vod - which i guess is why he has posted 320 times since he opened his account on lse on the 18th June. Also is "Pointy hat" his second account - setup just to agree with his posts, or a side kick ? - account opened a few weeks beforehand.

All ways up he seems to be investing a huge amount of time posting on Vod - going to wear his fingers to the bone.

I am in Tsco at a healthy paper profit - and all looks comfortable there to me. Not sure what he is banging on about over there over the last few weeks.

These boards are full of these guys, they make no sense but provide some entertainment, maybe he's related to "world go round" - another fruit loop.

don't understand where last call is on deb either - think he is invested and down - really haven't worked out his posts lol

Not invested there but have been watching the share demise, over recent months.

It's often the case that empty vessels make most noise, Often posters become a one man ( or two man ) band ramping or de ramping a particular share, they are in their bubble and start to believe that they make a difference.

Once they become rude or dismissive of others - to me that shows their true colours ( or maybe that they are rattled )

Just an observation form the side lines lol

GLA

Am settling down to watch the golf, and have caught up with all posts today.

Many thanks for all those that replied, with info and thoughts on the inter company loan from UKOG to HHDL, particularly Heid and Eddie, Penguins, Hats, Mick 2 and Boyzee.

Penguins,would like to re cap and get your confirmation on one or two points. Wouldn't want to post anything that you did not agree with.

1) do you agree with Hats,that the total capital amount lent was £1.5M ?

2) do you agree the loan attracts daily interest at BOE base rate ?

3) do you agree repayment is from future cashflows ?

4) would you agree that the transaction should be shown as an asset, on the UKOG balance sheet, and as a liability on the HHDL balance sheet ?

At present its something to be resolved in the future, following commercial oil and revenue flow.

Nice to consider though that at today's oil prices, one could anticipate a net return per barrel of circa $50 at HH = approx £38. which would, require circa 39500 barrels, to repay a loan of £1.5m to UKOG from revenues - all other things being equal.

Lets hope for more positive rns over the coming weeks on all three zones.

GLA

heid & eddie - thx for that info on the inter company loan.

i had thought the agreement was on similar lines, that the amount lent would be paid back to ukog, in a timely fashion once commercial oil was being produced.

i have looked through the rns and can see mention of an additional £1.21m in the 2016 finals i believe which suggests the total amount advanced by ukog to hhdl to help with exploration and drilling is higher, do you know the exact amount lent ?

in the great scheme of things - with commercial oil flowing it may not prove to be a huge sum relatively speaking but it nice to know, that ukog has an early call on oil revenues to repay the loan.

think penguins missed the point, yes all co's with a stake in hhdl are invested and have an overall slightly smaller % of the overall hh project. however taking alba for instance. it has a stake in hhdl, which in turn has a loan outstanding to ukog. surely when one buys a stake in a company one does so, taking into consideration any debts or loans it has outstanding at the time

so maybe to some it is a mute point and i accept all involved in the project are all working towards the same thing -commercial oil. but as i see it alba have a contingent liability, to ukog having taken a stake in hhdl, which will be repaid through revenues from early commercial oil.

too simplistic - maybe - heh ho.

good luck to all weald players

gerry

Degsy - 23512 posts and every one a ramp lol

I am happy with UKOG, and my buy in price.

Am hopeful for all Weald co's and their pi's and wish everyone success.

The big difference for me it that UKOG is focused on oil, whereas both ALBA and SOLO have tended to butterfly around in their project investments.

We all want a very successful ewt - with as early as possible start on the two post ewt drills. Its a matter of opinion as too whether one is happy at UKOG that funds are in place,for 2019 and beyond, or that it is better to wait as per ALBA to raise the necessary capex.

For me as long and all in the consortium are ready to go with their ducks lined up, then all is well.

Been a while waiting for HH,to move forward since March 2106, be great to progress to commercial oil asap.

GLA.

Heid - enjoy your evening meal with Eddie - don't forget to ask him about the inter co loan from UKOG to HHDL.

Bet you were surprised that i bought in at 1.21p last month after all our chats on here.

As i always said to you, it was about timing for me, Funding in place, and hopefully lots of good news from those RNS

Locked and loaded lol

GLA

justalearner- think i'll stick around, particularly in view of your charming last post

No need to get stressy buddy - sure all weald co's will do well for their pi's, i have a promising paper profit from ukog at present ( though it could disappear in a second lol ).

many on ALBA / SOLO / ANGS, have similar paper profits, so all is good.

Chill matey - don't stress.

GLA

You seem to have only cut and paste part of one of my posts today over on ALBA, a bit cheeky.

My point over there is that UKOG have funding in place for post ewt drilling whereas ALBA only have funding in place for the ewt.

My observation of the views of several posters invested over there, were observations, not my own view - but you knew that didn't you lol.

I don't doubt ALBA will have no problems gaining the required funding from their pi's sentiment is strong at the moment.

I prefer UKOG - funded and focused on oil - as opposed to ALBA which seems to have a bit of a butterfly approach to selecting its projects and assets.

Hopefully all pi's will do well from the weald wherever they have placed there bets.

GLA

Heid - you mentioned a few months back you were in Alba, as i recall.

As promised i have not ramped on the UKOG bb since my buy in at 1.21p last month. Promised i wouldn't.

Am very comfortable with my buy in price for UKOG and will let the RNS do the rest.

Am happy that SS arranged the finance up front, should be no surprises on that front for UKOG, am not so sure that alba won't need to raise cash soon for post ewt drilling at HH, should be straight forward for them though, sentiment is strong around HH at the moment.

Hope all co's concerned at HH are ready to move forward to commercial oil in 2019 with all speed.

Could you ask Eddie what is his understanding around the inter company loan from UKOG to HHDL, i know its mentioned in the year end accounts, i mentioned it over on ALBA - as its been mentioned on here in the past.

Best of luck

Cheers Gerry

Doubleheadedcoin - hopefully if the ewt is as successful as hoped - progress to the additional drilling post ewt can be achieved asap, taking the project through to commercial oil as early as possible.

UKOG all geared up with funds in place for this. Sure ALBA and SOLO will be looking to move the project forward quickly too.

great news for all concerned.

Hi Seaace, its Gerry btw.

Not ramping ukog - don't ramp,personally.

I am happy sitting on a 95% paper profit on ukog, could lose it all of course with bad news lol. as i think i already said wish all weald co's all the best, often news in one area of the weald benefits all players.

Many invested in alba are looking at its mcap in comparison to ukog and jay,based on two of its assets, and make compelling arguments on behalf of alba's sp potential.

I have merely stated why i prefer ukog, - its a view that's all, has no adverse effect on alba, does it ?

Some prefer ukog some solo some alba. Others have spread their risk by investing in all three.

I agree with you lets wait and see when funding will be required, and towards which of alba's projects.

To be honest i am not worried as to whether anyone agrees or disagrees with my views, this is a bb, open for debate.

GLA

yanis lets see what the interims look like in 5 weeks time. then we can consider the position further.

being fully funded rarely prevents small investment co's raising more funds for cap ex.

are you in agreement that alba will need funds to cover its stake in the two post ewt drills

if so its just a question as to where the money comes from - revenues ? sale of an asset, or pi's support.

for me i don't mind where the cash comes from just as long as long as it us available in a timely fashion.

gla

simonm - yes then maybe check the ukog 2017 finals consolidated balance sheet published this spring.

linvestment in associate quoted at just over £5m. ( i had assumed this related to hhdl - though i may be wrong ).does anyone have any views?

again i am not fully conversant with the overall position, its been in place for some time now.

i bought in to ukog at 1.21p average in june, so my view on the inter co. loan is that it is a done deal and should be a brucey bonus for ukog pi's, over time.

krull am very hopeful for all weald players.

i personally prefer ukog - just a personal view, it has the ability to raise substantial funds, oil exploration is expensive no doubt about that, it also has the most licences in play in the weald. its focused on oil. no butterfly purchases.

both solo and alba are far more diversified, in their projects, which is of course a different strategy. good luck to all pi's in each of the co's.

my focus is on hh at the moment. ukog have funds on account to cover the two post ewt drills at hh in 2019. - following a successful ewt both solo and alba will need to fund their share. with no revenues both companies will either need to sell assets or raise funds to remain within the project. thats my take.

simonm - inter company loan from ukog to hhdl.

mention is made in the ukog finals (sept 2016) ) published feb 2017 from memory.

check under cash flow / financing section.

states that during the 2016 tax year ukog lent hhdl a further £1.21m for ongoing drilling and testing at hh1.

am unsure as to the exact present inter co. loan position, nor how repayment is to be achieved.

on the ukog bb it has been raised on a number if occasions.

albinio 74 - looking at hh, its my understanding that alba are only funded here to ewt end not hh-2 & hh- z1 -iis that your understanding ?

news across the weald is very exciting for all participants, hopefully pi's in ukog, alba, solo, angs will all do well.

taking alba in isolation, based on net current assets at 2017 finals year end, then taking into account the cash raise in march, to bolster finances plus the may raise for planned short term cap ex, further cash will be required to take projects forward into 2019 imo, and should be considered as a positive, as gf, looks to turns projects and licences into shareholder value.

most small investment companies indicate they are fully funded, for the short term, but this does not mean they wont be raising more funds, in the absence of revenues this is necessary requirement.

personally i take a passing interest in albas other projects. my focus is on hh.

simonm - that's my understanding its been mentioned before on the ukog bb.

unsure as to the exact terms of this inter company loan - and to when and how repayment is triggered.

perhaps others can comment and clarify.

yanis could you expend on your statement that all current projects are fully funded ?

are you suggesting that pi's will not be required to provide any further funds to take each or any of these projects through to commercial revenues ?

where is the cap ex coming from - certainly not from alba's current cash in bank.

at the end of the 2017 year end neg current assets stood at circa £219k hence the funding placing in march to bolster the cash position prior to release of the accounting data. the second placing in may, was raised to cover ongoing 2018 cap ex including the ewt at hh.

interim position is out at the end of aug. last year gf raised funds from pi's a week before the financials were released.

looking solely at hh. i have stated i am in ukog where £12.5m has been raised recently to cover the next 18months of planned cap ex. this puts ukog in a very strong position moving forward. following ewt, funds will be required to drill hh-2 & hh-z1. if alba wishes to remain involved in hh it will need to raise its proportion of 2019 cap ex. surely you are not expecting ukog pi's to give alba pi's a free carry on this project are you ?

kiv following the inter company loan ukog has first dibs on £2m of oil revenues from hhdl.

looking at other projects greenland , wales, ireland, are you suggesting alba has sufficient cash in bank to take these forward ?

the recent additional purchase in north wales was completed with a structured share transaction, not by cash, which is fine, not a huge amount of dilution in the medium term. also gf and the bod to my mind are not lining their pockets - directors fees and salaries for 2017 totalled only £311k which seems reasonable imo. indeed gf took £14k of his fees in shares last year to reduce pressure on cash flow which is commendable. the additional consultants recently taken on will increase these costs for 2018 onwards, but this may be limited.

alba like most small under capitalised investment companies without revenues require pi's support.

placings to raise funds to take projects through to commercial revenues are vital, necessary, and providing the funds are used to ultimately increase shareholder value can be viewed as positive.

alba imo will need more pi support in the near future, exciting times.

gla

Doni - ouch, sorry to hear that, i am in on an average of 7.30, got the div coming up though.

I felt this one was pulled down with the outsourcing companies last year, which was frustrating, but gave a buy in price, i keep a close watch on those pipeline order's in the trading reports.

Seems to me that MM's take any opportunity, to talk a share down on limited downsides - this seems to have increased since the turn of the year, yes the bull run has been running for some years, but several companies with strong balance sheets and fundamentals have been dragged down only to be released upwards again. Take HIK / GSK / IMB to name three that i picked up cheap,in the last 12 months.

Going to hold this one and pick up the divs.

GLA

lol - guess that is your buy in price doni, clearly a company in which you aspire to hold shares.