Member Info for Gerry65

cperkin - is your valuation based on present day value ? or following future required expenditure.

i have a mate how owns an e type, which he believes cou,d be worth £75k if restored, unfortunately it has a seized engine, which hasnt run fir 15years. the gearbox needs stripping as it has no second gear. the interior is a wreck, and there is so much rust thst it prob needs an acid dip, and maybe a new body shell. in addition he has no spare funds to complete the renovation nor the skills required. so its worth what someone is happy to pay for it. none of tbese issues seem to phase him though.

solo's stake is only worth what someone will pay fir it.

vike1 - could you clarify how it is good news for solo. i am open minded on this deal.

seems to me solo is sidelined, at present. it wont be able to raise the level of funds needed to stay in so prob will have to sell its % stake.

this may not be a bad thing depending on how much a buyer is prepared to pay.

guess its down to ritson to update the market on his plans going forward.

so to stay involved for the longer term solo will need to find £35m to cover their 25% in this project, based on the figures in the aex rns. thats approx. 2.5x solos present mcap. cant see pis stumping up that sort of money.

i would suspect that both zubs and aex have fully considered the issue of solo future funding prior to the farm out agreement.aex have their full carry through and whether their pis feel t was a good deal or not they are financially sorted on this one.

not so solo, which seems to be sidelined. a sale of its share of the project seems the only way forward. it is an investment co. after all and needs to deliver a return to long standing shareholders.

as to how much solo could secure for its 25% is up for debate, bearing in mind a future purchaser will need to pump in a further £35m to get to the promised land.

its now down to ritson to issue an rns with his plans and thoughts.

i know the football is about to start -but am i right in thinking that solo will have to find £35m on the figures produced in the aex rns to cover its 25% stake in this project ?

it looks like aex are sorted by the farm out. how does solo fund its 25 % ?

heid - i always said it was timing for me, am comfortable with my buy in price.

sentiment has changed, and flow test news will ensure the sp kicks northwards.

gla.

sting - thx for mentioning me.

you must have missed my posts a few weeks ago i bought in for the ewt - three tranches bet 1.18 -1.21.

i did say at the time i would not post any ramping posts, whilst i was invested.

in truth i don't need to in my view, as news comes through on flow testing sentiment will take the sp on a continued northbound route. am happy with my buy in price.

i continue to read all posts though.

gla.

Kabaa - keep up buddy - i bought in this morning - my reasons were explained in my posts this afternoon. GLA

Billy - we agree on that one lol. The aim will be to get one well up and running then with a combination of further funding raising and possible revenues, develop more wells, as soon as is practical. There were an awlful lot of noughts floating around when I tried to calculate kabaa's 1p + div next year, based on 4504m shares unissued at present, think it comes to £45m, and equals ukog's present m cap ! Not only highly unlikely but would represent financial suicide. Think that's me done for today on here. Off to watch footie. Gla

Kabaa - if I may I would like to reply to your post last night 18.54 - where you suggest the likihood of a dividend from ukog once commercial oil is confirmed. With phase one of the HH ewt due to complete at around d the end of this year, that indicates to me you are expecting a div in 2019 ? You also suggested it would be at a higher than the sp was over the weekend, if I read your post correctly. When the latest placing shares hit the market on the 21st June there will be 4504m shares slushing around. I feel you are going to be sadly disappointed, this is minnow oil explorer. It needs to drill many many wells in many many places as explained by SS to offset the expected depletion rates expected, over the life of each well. ( See u tube video - SS posted many times but recently again by cyan ). Should it secure free cashflow i would anticipate it will be reinvested, in the form of more drills over its various licences - multi drilling seems to be the plan for the weald. No offence but I am reasonably confident there will be no dividend in 2019. If there is I will happily pay a transfer of £50 into the bank account of your favourite charity, if I am wrong. How.

Hi Donke01 & Heid - last reply for the evening from me. I read the boards of a number oil explorers, the hope of a buy out or a joint venture comes up regularly on each of them- so far this year the majors are about to buy out almost every aim oiler ! The majors publish their investment plans some time in advance, so if you are invested here and want to read up on their future plans then you have a bit of reading to do. Let me know if UKOG is mentioned anywhere. My take on the HHDL phasing - 4 stage - is that its a long project. The first 150 days are key of course. Looking forward to the next 5 months. Lets see how the results of the 3 zones come out, its Portland first I believe. If commercial oil is achieved at HH then that's only the beginning - SS will have his begging bowl out several more times in the next two years imo. Don't forget UKOG only have 33% in HH. UKOG have detailed their future drilling plans, if this was a novel i'd say we are only just staring chapter three. Its a pity bb did not flow, i'd say its set back UKOG by 18 months. They have to get success at the flagship which is of course 100% owned. Enjoy your evening - will pick up in the morning. GLA

Rusty - you have a great evening. If people had listened to me rather than Marky last year they'd still have their money, £10,000 invested at 8p is worth £1250 now. It's a long haul back from there. Again re the sp - why don't you try reading my posts - i have indicated i think there is support at 1p, though i would suggest that the coming week will be volatile. Now i am a swampie - heard everything now lol! No agenda - came on here to give balance, took some flack, which i accept, after all those with differing views to me are invested. My views is based on many past issues. As to the EWT i have indicated that successful results may allow some to escape from their losses by achieving their break evens. You didn't comment on my 5 thoughts as to why bb did not flow Rusty. Interesting times. GLA

Rusty, you are welcome to your view, as i am to mine. I have debated UKOG with many on here and generally with respect on both sides, i have always held the view that it is up to the glass half full to convince the glass half empty to invest. I have no agenda, here never have. It has been 8 months of bad news - for ukog,and its no wonder the sp crashed, i did not invest - and for the love of god why would i why throw money away when the only news was bad news ? I look forward to the EWT like everyone - i see some day trades now - but I would not want to be in here moving onto 2019 - more dilution awaits. I am long term bearish. It looks like my posts bug you, in the last 10 minutes i have listed 12 differing red lights to me. I generally only reply to hyped posts without facts,to keep the balance. However i am happy to increase my olume of posts on here if you would like, listing my concerns, for you to challenge it that's what you'd like - we can go through things in great detail. Entirely up to you buddy. GLA

Rusty - Although i am confident SS knows the reasons why bb did not flow - its unlikely pi's will be brought into the loop, is it. Here are some possible reasons: - duff geology report - Failure by SS to interpret the reports correctly - Drilled in the wrong place - cock up by drilling team - bad luck It is what it is - at the moment a very expensive fact finding exercise. An exercise that was funded by pi's. Anyway onwards or back to HH - interesting times. GLA

Cyan 2, rizalino and co - some good posts this afternoon but I fear those in the ukog bubble and those who have become too attached to the weald concept and SS will struggle to accept or understand why care should be exercised. They are either genuine believer's or need thre ramps to get to their break even positions. Rusty - your last post to me shows that you don't read my posts fully. That being the case I really can't help you. Hopefully you read the RNS with greater care. I have been bearish from 8p down to 1p - I have always stated my reasons. People told me I was wrong at 8p then7p then 6p then 5p then 4p then 3p then 2p then 1p. Many have left this buliton board. I am still here lol. You may want to re read my declared position in my post this morning. I remain bearish for the long term, but see opportunities for short term trades during the EWT - probably 5 - 7 quick in an out deals whilst dodging and weaving the loan conversions.. I would not expect to be holding moving through to 2919. Rusty - before the may 2017 placing there were circa 2600m shares in issue. On the 21st June we will be up to 4505m shares. Many are under water having bought on ramping hype on this and other buliton boards. BB was a massive blow to sentiment, the YA loan and it's effects are now understood. Cash raised is now in excess of £35m - there will be more calls on pi's in the not too distant future imo, this is a very expensive business. There is oil down there, have you fully read the history of Avington and horndean. Both bought into by ukog. Strong EWT results and solid initial production rates, then came the declines in production levels. People quoting some views on where the sp may end up just don't seem to u derstand the correlation between - sp / shares in issue / mcap / reserves. We are in interesting times with the EWT at HH, which I am sure everyone is looking forward to reading flow test results as they come tthrough. This looks like a day traders paradise again at the moment. Gla

Heid - would not wish to change your view. Not sure that those underwater will escape. It may be a long long term hold for you. Luckypuss - you make some valid points in your last post. Rusty - yet again you fail to understand me - my bearish view is based on long term - over the last 8 months I have posted my views maybe you have missed them. So far only £35m or a bit more raised, to date. If you think that's it then you are welcome to your views lol. There are clearly short term opportunities to take advantage of during the EWT. Obviously one has to dodge and weave the YA conversions though. Nibble feet me thinks. Red - there will be many twists and turns on your road to the promised land and it will remain an expensive business. Be careful not to count your chickens before they hatch. Kiv the original ewt results and initial production rates at both avington and horndean. Both bought into by ukog. One is now shut down as uneconomic the other is producing 140 bopd from 4 wells. Both produced loss making returns for ukog last year. Red am also popping out now - pick up later. Gla

Heid - been bearish from 8p all the way down to 1p for good reason imo. It's been 8 months of misery for those locked in at higher prices. I amongst others recommended caution. They are where they are with this one - invested too early on the hype peddled on this and other boards last year. ( Flash cars / pensions sorted / mortgages repaid / £1 club ) have seen it happen too many times in the past, and it will happen again in the future. Imo ukog will be back for more cash, within the next 6 - 12 months. There will be those that bang on about revenues from EWT and conventional finance. Time will tell. The sheer numbers of shares out there will continue to drag on the sp and present challenges for those genuine lth's. But human nature as it is will present opportunities for quick deals during the EWT. I will not change my long term view on this one nor will my posting stance change. I certainly won't pump any trades i make or boast about any profits, it's not respectful to those locked in and under water. But there will be short term positions to take advantage of during the EWT. I do not expect to be carrying a position here through to 2019. I remain long term bearish and am genuinely sorry for those who are heavily under here.

4,504,189,479 shares plus the YA conversion shares to come. The order that the RNS landed can be at best described as "unfortunate" some may have different views. Think many realised on Thurs that the OGA approval would be very quickly followed by the funding cash raise.pretty standard, and to be fair it was signposted. Trading volumes and volatility are good for day traders. Not sure how those spiked say at 2-4p / 4-6p / 6-8p are feeling. I expect the sp to bounce around a bit next week and settle down after the 21st June. To be honest I thought they would need to raise more than 5.5m - interesting times ! News from the EWT over the next 150 should give opportunities for short term profitable in and out trades, perhaps between 5 - 7 imo. Not too sure that many of those spiked at the higher price ranges will see their break even, just too many shares in issue and too many hoping to recover their investment. That together with YA dilution and those playing for 10% returns will hold the sp down. Only my opinion. Once things settle down I may take advantage of short term opportunities coming up during the EWT. Would not hold for long term here though. Gla

SIncero - knew we'd become buddies in the end lol. I don't mind debating with any long term holders,even if i don't always see things eye to eye. But BILLY!! - lol - very transparent, but hey ho he made his trade, ( very similar to MIggymom back in January ), I also fully agree - its about the results zone by zone. The OGA approval had to produce a spike, the sp should now be out of the doldrums, with trading volumes up. It will be interesting to see how the sp performs over the coming days ( assuming no funding ) as that will give an indication as to general sentiment, over the medium term, and potentially how LTH's are going to react when each of the zone testing results come out. GLA

Billy - think most of us saw you coming when you bought in last week - well done though rocket man lol - in cheap pump it up, with a claim of a £40k purchase, talk the 10p talk and jump for a profit, and why not ! Maybe people might want to look back at your posts with MILOH and myself on Monday ! I have no problem with your trading strategy or your ramps over the last 6 days, as it has no doubt worked for you, 30 / 40 posts and out with a good return. This post is directed to anyone on here listening to ramping day traders who will lead you down the garden path, and be in and out and before you know it your new best friend has jumped and is long gone. ( to all LTH's with a glass half full view - this post is not directed at you ). Excellent trading though Billy to be fair wonder what your next buy back in price may be Billy ? GLA.