Member Info for HeadInTheSand

I would merely point out that it is the brand new and sparklingly shiny dream team that has sole, exclusive and unique responsibility for the massive time and cost over-runs at Poundland.

That categorically cannot be blamed on previous executive management - it's all happened right from the get-go on Poundland under George and his dream team's watch.

MrP, fair point. Kiran's latest KDNC share purchase was in November last year, where he was quite happy to splash out nigh on £30k of his hard-earned on shares.

He's done rather well out of these and seems currently to be looking at a 130% profit. It would seem that Mr. Morzaria is in fact not scared of putting his hand in his own pocket and his own skin in the game... but only when he has faith in the opportunity presented.

...but in stark contrast to reality, Ocebot's own opinion stalwartly remains "Strong Buy"... as it has invariably always done, regardless of anything and everything.

Isn't it faintly heartening to know that one can always rely on something being utterly consistent, even if eternally wrong?

Agreed. The company will of course have realised in advance that, following the usual opportunity given to those participating in the placing to forward sell into an orchestrated and very short-lived spike (and trouser a very quick and easy 10-20%), the resulting and again standard post-placing SP slump would leave the open offer of zero interest to PIs. UKOG will not have been counting on any extra funds being raised via this.

However the other half of BornAgain's originally posted question - which I note with no surprise at all that Ocebot failed entirely to comment on - remains utterly unanswered and unexplained...

Regardless of the values that were committed to being minuscule, where are the UKOG board's publicly promised share purchases?

The actual core uncertainty hanging over this share has always been - and remains - will it ever have a commercially sustainable business? That is, will it ever manage to get into production of anything at all to a level that comes anywhere close to covering the company's costs, both fixed, variable and finance related?

To date and over many years, despite continual board promotion of various eventually failing projects as "transformative ", the answer has been a consistent and resounding no.

Which is why many more than justifiably see Basur-3 as Sanderson's last desperate throw of the dice. Maybe this time for the first time ever he'll roll a double six? You can bet your last dollar that is what he will spend several RNSes assuring anyone still prepared to listen is very likely to happen. You can just hear them already... "The company is delighted to announce very promising shows of oil" etc etc yadda yadda...

Except this is exactly what UKOG has done with every other failed project it has been involved with to date. Sadly, Sando's standard MO is to promise PIs the earth... and then roll snake eyes. Yet again.

They might want another £5 million... they might well need another £5 million... they'd certainly love another £5 million...

...however they must know that their oh so generous opportunity of the Open Offer is going to get next to no takers, so they can hardly be expecting another £5 million out of that.

No, I suspect the vast majority of those shares (obviously) won't be taken up by existing shareholders. Instead, if the Sando MO is adhered to, we may well see the next placing around the time the company releases a series of positive RNSes with language such as "The company is delighted to announce very promising oil shows at the Basur-3 drill site" and so on.

I mean, Sando's still got the authority to issue one shedload more confetti, hasn't he? Another pre-arranged placing with the city boys forward selling into a co-ordinated P&D spike? Team Ramp called in again to big up disingeuous RNSed company Basur updates? Endless posts of "10p by Christmas!" and text art rocket ships? Continual attempts to discredit anyone expressing a more measured and wary opinion?

I reckon a near-ish term repeat of exactly all that is particularly likely. After all, it's seemingly standard Sando and UKOG operating practice.

Granted Insidious, but it was both telegraphed by the company and regularly referred to those who you prefer to ignore and dismiss as "trolls and derampers"...

However, as with all of us, you base your investment decisions on whatever you like.

Insidious, for info, indeed I do my research and if minded, share the opinions it has led to.

As to "history", quoting a post of yours from just two weeks ago and just as the pre-placing ramp was starting hardly strikes me as deep-dig archaeology.

...and just a PS.

I do acknowledge that hindsight is of course a wonderful thing, but Insidious, I think if you'd given any thought to the more realistic opinions of some you thoughtlessly and continually dismiss as being "trolls and derampers" (for the sole reason that they don't share your undeviating positivity), you'd have radically altered your last sentence below...

...and of course the RNS that dropped was the one that the realists were all expecting and again as expected, it took the SP in the entire opposite direction.

Insidious
Posted in: UKOG
Posts: 2,955
Price: 0.203
Strong Buy
25 Jun 2021 15:39
" Derampers / Rampers we are all here to make money, lets hope we get that RNS very soon which will take this share price to new heights…

PS: would not want to be out of this over the weekend... "

...or, when looking at the various posts of last week while the co-ordinated spike was being pushed for, whereas last week there was a very clear infestation of shills and ramptastic cheerleaders (text art rocket ships, anyone? "Multibagger by next month!", anyone?), this week now the inevitable news has broken, they've largely entirely crawled back off to their burrows, job done and mugs mugged, and we're left with the dreamers and the realists.

...and to an infinitesimal level. The stated terms of the DDSPP only commits the board in its entirety to buy a max value of £2,800 worth of UKOG shares between them each month.

Mind you, they might not abide by that commitment. They certainly haven't abided by their firm and publicly stated (via RNS, FFS) commitment to buy any shares at all.

I must admit, since now the maximum length of time for a mandatory disclosure to be announced has passed, it is not a promising sign that nothing has been released re the UKOG board's publicly committed to undertaking to purchase UKOG shares at the start of every month (from Fri Jul 2nd).

I mean, okay, under the terms of the DDSPP, the maximum value of shares committed to purchasing is less than £3k's worth between all of the gang of four and that is truly microscopic.

And it has to be also said that following the blatantly obvious P&D shenanigans of the last ten days, this minuscule amoint pales into even more insignificance.

Still, from a pure PR point of view, it is staggering that the board has apparently entirely reneged upon even such a trivial commitment?

Ibug, you honestly think he buys? My view is he only does for a very short time, looking for a quick in and out at the expense of other mugs he attempts to rope a dope in.

Ibug, TH2 has never put any speculative money in on anything... why should he change now?

SteJ, gallows humour maybe, but that was short, pithy and made me laugh! And that's a serious achievement when looking at UKOG...

For the first and no doubt last and only time, I find myself agreeing with the Ocebot. Today's Open Offer should hardly be any surprise - the company told everyone what it was going to do as soon as it lost that resolution at the AGM.

What does seem to have surprised the more naive is how placings work on a murky market like AIM. Here's how it goes:-

1. The city boys and institutions agree to take a large number of shares at 0.18p, between them covering the entire placing. This will have been signed sealed and delivered in the 2nd half of June.

2. Then the company and associated members of Team Ramp do all they can to cause an utterly irrational spike in the SP. Lots of PR, spun positive news and the shills plus short-term traders banging on about rockets, multibaggers etc etc etc. This happened last week.

3. During last week, the city boys and institutions forward sell the placing shares they've committed to purchasing at 0.18p. They'll make between 10-20% at precisely zero risk.

4. The placing is then announced this week... and the SP dives. The city boys don't care... they've forward sold into the artificial spike and made their easy money.

5. Then as a fake sop to the masses, mere PIs are offered the "opportunity" of buying in at the same price as the city boys and institutions. Incredibly fair, right? Except of course there's no orchestrated ramp and spike for them to sell into, because the cat's already out of the bag.

The above utterly standard practice should be common and indeed required knowledge for anyone thinking about investing in AIM.

Oh... PIs are being offered "the same opportunity", are they, TH2? Don't make me laugh... how much more deliberately disingenuous can you get?

This can hardly come as a surprise. I doubt that the open offer will be taken up by PIs to any extent (why would it?)

Of course, the key difference is that, unlike the city boys and institutions subscribing to this week's earlier placing, mere PIs don't benefit from an orchestrated ramp to unjustifiably spike the SP, so don't get the opportunity to forward sell and make a zero risk profit. That type of money for old rope sweetheart deal is as ever reserved for those to whom UKOG will turn again, begging bowl outstretched, when it needs yet more funding.

So as is depressingly normal, the big guys get guaranteed gravy and as per usual the little guys get reamed. Same old, same old.

LS clearly broke the LSE BB rules once too often and got himself banned. However, don't despair... he's already equally clearly back.

A tad techy, Torre? Perhaps because I gently pointed out that the staggeringly inaccurate info I quoted word for word was released via RNS by the super duper new ANGS management team, perhaps?

As ever when faced with indisputable facts, all cheerleaders can do is insult. The word is "puerile", I believe... perhaps you should post a few rocket pix instead?

Bornagain, you're referring to the total amount raised by the recent placing? £5 million indeed.

However, those partaking in the placing will have been busily forward selling their shares last week into the pumped spike. Because that's how these placing fundraises work - those taking part sell before they buy, so the nett result is that they end up holding no shares. There's no risk attached... just a 10-20% pretty much guaranteed profit to trouser.