For 300 bpd at a massive cost that has brought UKOG to its knees. He pockets his annual salary and bonus and us PIs pick up the **** and see investments slashed. SS you must now be considering your position, you have to as a CEO the has underperformed, mismanaged expectations and have purposely withheld vital information that would influence de ion making by investors. You have diluted the company and have got asserts that appear to be worth diddly squat. the question is can you be trusted going forward based on history. Leave that to posters to decide.
RE: HH1 to produce 500bopd this summer30 Jun 2020 11:29
We need revenue generated to support the development. We need money and we need it fast. The money set aside for Loxley should be spent getting HH producing greater amounts of oil to generate revenue to then tackle Loxley. Needs to move faster and no reason why it X can't as UK continues to emerge from lockdown. Spent bucket load of cash on equipment that's on site so let's crack on and get something positive done for investors
SS needs to consider his position30 Jun 2020 08:36
At UKOG now. Revenues are not going to pay for developments, HH feels a disaster and had huge amounts spent on it buying everybody out bar Alba. They must be laughing all the way to bank. I can't see any other way of raising funds with exception of significant placings to keep UKOG afloat. Why spend all that money on something that appears to be a flop.
You think you have a bit of traction then slam dunk, nervous steps back. Really surprised to see the extensive buying this morning. On the back of SCC farce yesterday, interim results and state of well, what is it that is being seen here?. At this current time, all the fecking money spent to increase % ownership at HH, yes namely £12m that brought us to our knees with significant dilution and cash, what have we got to show for it SS...SFA. Really disappointed with lack of insight to the state of this well until now when the boot is being put in.
RE: RNS - Planning Consent Refused29 Jun 2020 17:13
Mridangam nvextment how about turned ng it on its head and looking through a positive lens. This could take 8weeks , at a cost of few thousand that SCC will pay and sp propels back into .3s. Let's not be too pessimistic, feels the wrong decision made by SCC today and we need an appeal as soon as possible
SS not amused and sounds the whole process was a shambles that unfortunately those invested get impacted for the incompetence of these council representatives. SS has to appeal and hope it is done quickly. What a waste of time, cost, lost investor income and delay with UKOG progress. Those who messed up should be held accountable and the process really needs to change at SCC .
But sp holding up as only -4% down and likely to move into the + where 2b is breached again today. Wow indeed!!. Very interesting to see what base UKOG lands on for going forward. I hope a strong one taking into account volume of shares in circulation. ATB
I wonder if he will get a vote of no confidence at the AGM. Feels this is simply suffocating. Why the hell did he fork out £m's to increase licence at HH at now have UKOG on hits knees and sinking. I really don't get it and transparency of it all, he does nothing about it. AGM is either the boot or something wow. I sincerely hope the latter . Sickening to see UKOG at this level, a disgrace.
1. Debt free is a positive. Perception loan conversion was preventing share price to increase. Today's news certainly pulling it down. 2. £1.65m for equipment. Is this really necessary at this time to save £4 per barrel?. Short term could we have saved to prevent dilution?. 3. Final interventions to increase production on HH1. -where the the CPR ?. 4. SS obviously could not persuade any bank to give a loan and therefore simply reverts to dilution. Almost 11b shares - SS tell me, why would this not have same affect as loan conversion. It is a monster amount of shares and literally no exciting levels of production st UKOG.
When is the next placing after this and the next one. Licence to issue shares and dilute investor income. Seen nothing for my investment in ukog apart from paying your salary and of course your bonus. Would like to see your commitment to provide returns on investment as I didn't invest in a charity!!!!!
Surely you have £1.75m in the bank that can pay off this loan now and start driving revenue from the tanke r loads being sold and quite a pretty margin considering price of Brent. Come on we need something positive to kick start this lame beast.....
Why did he pay £12.5m for its share. What was SS smoking st the time. She'd all that money out for what?. Return on the brilliant deal is absolutely nothing. Someone like to help me understand the business rationale that he could sctually get support to do this?. Can understand the anger of investors here and CEO needs to give answers. If he considers this will turn around then that's great.....pain felt by most at the moment isn't great !!!!
Almost 600m shares had to be traded to break the -30%. Wow this is a hard. It's only midday so can see this well beyond 1b traded shares. The appetite is there even though this has been bled by SS. Those investing are either punters or see something in this still. Hopefully the latter. It's a bitter pill to swallow seeing where we are and a CEO that hasn't given any positive signals for months. Come on SS what the bleeding hell is happening. Are you looking to buy out Alba for example to gain full control.