Member Info for HeadInTheSand

Someone needs psychiatric help or other form of intervention, that's for sure.

Maybe this will help?

https://www.youtube.com/watch?v=L0MK7qz13bU
https://www.youtube.com/watch?v=L0MK7qz13bU

Phimx, strictly speaking you are of course correct. Again as you state, AIM RNSes are full of weasel words and UKOG's are no exception. Having said that...

Here's the language:-

"UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Company has committed to put in place an annual MAR compliant Defined Director Share Purchase Programme ("DDSPP") in which a director commits to purchase UKOG ordinary shares each month equivalent in value to a fixed percentage of their net monthly salary. In line with other such schemes, the director's commitment is envisaged to be in the range of 5-10% of net salary, dependent upon individual circumstance.

Upon commitment to the DDSPP, which is expected to occur in the open period following the publication of UKOG's interim results, due on or before June 30th, 2021, the director will purchase shares from the market on the first Friday of each month for a period of 12 months. Consequently, the first DDSPP purchase is expected to occur on Friday July 2nd, 2021 and the final purchase on Friday June 3rd, 2022."

Yes, there is just about enough wriggle room in there for Sando and his cronies within the gang of four to renege - though doing so only further goes to highlight the nigh on zero faith the board must have on the prospects of the company they're running.

But what makes this more concerning is the fact that the above information was released by RNS. This gives it far more of a statutory and legally significant weight that say a mere puff press release or fluffy Malcy inverview. To me, there is a clear expectation released to the market - and presumably to be treated as a market sensitive thing, liable to affect the share price. Therefore, unless there is a compelling and unexpected reason for the UKOG directors not to fulfil the expectation that they themselves set and announced, then this could very easily be argued as being deliberately disingenuous and thus legally dubious.

I'm detecting an increasing stench of desperation about the cheerleaders' ever more frantic "Jam tomorrow! This time! Honest!" posts. It's also true - as has been pointed out - that, apart from the Ocebot still determinedly ploughing its lonely furrow, this BB is now left with just the 3rd division ramp squad doing its best to polish the unpolishable.

Out of interest, has anyone got any reasonable justification as to why the UKOG board has directly contradicted the unequivocal commitment it released via RNS for two months now and has completely failed to buy even the minuscule amount of monthly shares it promised to under the announced DDSPP?

You'd think the cheerleaders would bother to read and digest company RNSe, wouldn't you? How can the "I heart Stevie" fanclub honestly be unaware of the most simplistic of information?

Well, there are two possible answers to that. Either they're not genuine investors (because pump n dump swing traders can't be bothered with even basic research), or they're so crushingly gormless that they're prepared to blindly put their entire faith in St. Stevie of Sharecoin and simply not worry about any of the inconvenient truths that the smallest amount of research uncovers.

Either way, it's a bit tragic.

Scottyk's psychic abilities are legendary... but only in as much as they're invariably wrong.

He's not even as accurate as a completely broken watch, which at least gets things right twice a day...

Alll I can say to that surreal rant is that the policy of care in the community clearly has a lot to answer for.

Maddog, it's really not that difficult. "We" as in all of us... everyone... the board at ANGS... the city boys... the invested PIs... the uninvested PIs.

None of us will know what sustainable production volumes of gas are coaxable out of Poundland until in my estimation mid next year - and into Q3, if Poundland's commercial viability hinges on a successful sidetrack being drilled from the decidedly tricky SF-7 well.

I'm at a loss as to what's so hard for you to understand about that opinion?

Ocelot says "August 2021 is 6 months ahead of February 2022, will the share price begin to rise in anticipation of first gas now?"

No.

First gas by itself is meaningless. How much gas is the only question that matters. I strongly suspect we won't know that until at least well into Q2 next year now - and if a successfully drilled sidetrack is necessary to see if produceable volumes can be got to commercially viable levels (given ANGS's substantial fixed, variable and debt funding costs on Poundland), then we won't know the outcomes of that until into Q3 next year.

However, the dreamers, the swing traders and the shills will keep pumping out their groundless optimism, albeit for very different reasons.

Correct Oofy, what with UKOG's nigh identical twin having announced even further delays on the gas field it bought for a quid (well, for minus £2,499,999, to be entirely accurate).

The stark similarities between these two purely lifestyle companies continue to be a source of amazement, with the latest in a long line of coincidences being that over the past week, both have had to come clean and admit that things aren't looking at all clever with their individual final desperate rolls of the dice in their respective last chance saloons.

I now expect ANGS to do its best to puff up geothermal as a hoped-for distraction for all it and its cheerleaders are worth, much like UKOG and its boiler room is doing the exact same with Loxley, despite the fact that neither company has the cash or indeed the time remaining to even start investigating either.

It's not the nicest of games, this AIM micro-cap oil and gas company lark, is it?

If you've watched the value of your investment in UKOG dwindle by a substantial percentage to current levels, I agree... it is hard to argue with Goldbar2's plan of action.

On the other hand, short-term day traders who have got this wrong (despite their eternal rampathon efforts) would probably be better swallowing what would undoubtedly be a much smaller loss, percentilely speaking and getting out.

Seriously people... how can anyone possibly be surprised at this? It's been telegraphed for months.

I feel sorry for the wildly overoptimistic JamesTheSecond, who wasn't keen on listening to more realistic opinions.

Mind you, cuddothisnow with his deliberately disingenuous ramping, looks like he may be stuck in the ANGS lobsterpot for a while... gotta LOVE the way he says "this is good news". Seriously, these day traders have no shame.

...and again the question is begged. Why wasn't seismic done before drilling start?

UKOG has known it had the Basur-3 licence for months and months prior to ground being broken - so how come it allowed things to reach right up against a fully pre-known licence deadline and then have to rush to drill blindfold, effectively in a "pin the tail on the donkey" style... a thing which utterly unsurprisingly turned out to be a costly waste of time and money.

It's so cack-handed, it would almost be funny, if there weren't so many private long-term holders suffering major losses.

Okay, so Sando and the other members of the gang of four have blatantly reneged on an RNSed commitment released to market that they would buy an (admittedly pitiful) amount of shares every month, starting from July 2nd. They've now apparently failed to honour said commitment for a second month on the trot.

So, when do posters think that the UKOG board will actually start buying shares under the terms of the DDSPP?

1. September 3rd... they just forgot.

2. Maybe in the New Year.

3. The UKOG directors buy shares? Are you crazy? They don't believe a word of what they're trying to get everyone to buy into. With UKOG's board, it's always been "Do as we say" and not "Do as we do". When it comes to funds, all that exists is an eternal and strictly one way flow of PIs' hard-earned through the company into the trouser pockets of Sando and cronies.

Thing is - and as ever, the Devil is in the detail and knowing how to read the weasel words UKOG has a habit of using - PIs absolutely were given the opportunity to participate in a recent fundraising on exactly the same terms as the city barrow boys...

...however...

Not at the same time as the city shysters, who were teed up prior to the announcement of the institutional placing and who all forward sold the shares they'd committed to into the spike that was busily being orchestrated... what had the SP been pushed to at the close on the Friday just prior to the placing price and result being announced? It got pumped from c. 0.175p on June 16th to 0.24p on July 2nd. All of which let the city boys exit with around a minimum 15% gain...

...and then of course the successful institutional placing was announced at 0.18p, the share price nosedived as it was inevitably going to, down to below that placing price. Only then were long-suffering PIs given the chance to "participate in the fundraising on the same terms". i.e. basically being offered the opportunity to buy in at 0.18p, when the market price was 0.16p or lower.

Sorry, but there's a world of difference being offered the chance to make a pretty much guaranteed 15% within a week or so and being offered shares at 10-20% above the market going rate. Needless to say, those are not at all "the same terms".

JT2, I'd estimate that, presuming everything goes to plan and without hiccups (as you do), the majority of your predictions are at least three months ahead of themselves.

The only factor that has any importance whatsoever is... what monthly volumes of gas can Poundland be made to produce? Literally anything and everything else is irrelevant (as I am sure you realise).

Before anything else, ANGS needs Poundland to produce enough gas to cover its Poundland-related fixed, variable and debt financing costs. Although not yet confirmed, there's a fair chance that Well 7 will need a sidetrack to be drilled successfully to have a chance of this happening - but let's leave that to one side. Once we know sustainable production volumes being delivered out of Poundland, then we'll know what (if any) spare income ANGS may have to assign to other projects.

I think it's vanishingly unlikely that any spare income will be generated from whatever gas gets sold and produced within as early as Q1 next year.

Oh and PS, perhaps it's not the smartest thing to accuse someone else of being a fool or "half brained", when one personally has trouble with the difference between "your" and "you're".

Maddog, au contraire. I remain entirely satisfied with my exit price, thanks all the same. And for the record, in terms of the genuine long-suffering long-term holders here (and there are some amongst the day traders), I'd be delighted to see the SP get to levels that bring them into profit.

(It's just that I can't come up with any valid reason why it would, this side of actual audited production volumes being released re Poundland).

It's widely accepted by realists that the only feasible way to make money out of UKOG is to short-term trade the share.

I have no issue with people doing that - good luck to them - but only provided that they aren't deliberately disingenuous in their stated opinions. Skwizz is a good example - he ducks in and out, is completely honest about his opinions on the company, but takes advantage of the regular pumps perpetrated by others. You know the sort of endlessly repeated thing on stocks like UKOG... a flood of new IDs come on spouting utter garbage, copy n pasting company spin, even text art rockets - and then the reality of things quickly sets back in and the share price slumps.

Precisely, Oofy. Seems that Scottyk was not as "fully loaded" as it turned out he needed to be, back on July 15th.

It's a good game, this UKOG game, isn't it? Buy in... then keep having to buy more and hand over more hard-earned in order to average down and minimise losses on one's previous expenditure.

Good money after bad is a phrase that eternally springs to mind...

And I think the reasons for Scottyk's increasingly frantic assurances of boom time, a rocketing share price and jam tomorrow are fairly clear - and I'd say based entirely on hope, rather than expectation. Being over 35% down in under a month is bound to cause a few jitters...

Scottyk
Posted in: UKOG
Price: 0.18
RE: Re- re Basic entitlement

15 Jul 2021 11:33

... pretty much fully loaded myself tbf .. I bought in higher than some at around 0.024 .. topped up twice at around 0.018 and brought the average down to around 0.022 ...