Member Info for HeadInTheSand

"The hedge drops again Jun 30th"...

How do we know? Since Trafigura took over ANGS's hedging, we have literally no idea what it looks like today, how it's structured, what monthly volumes are involved or what monthly hedged prices are.

Whispering (née WakeyMitch) talks of 'common sense'... but would benefit perhaps from understanding logic and particularly the nature of the simplistic logical fallacy known as a non sequitur.

Her assertion seems to be that, just because going on a year ago, Amit held a role at SB Partners that was potentially subject to FCA scrutiny, all his pronouncements and actions ten months later as an officer at an entirely unrelated company operating in an entirely different geography simply *must* be subject to the same levels of compliance checking and scrutiny from the same regulatory authority...

Such a claim is both illogical and indeed laughable. As such, it adds precisely zero credibility to the Jun 10th statement from Amit that "The Company is pleased to advise shareholders that following an in depth review over recent weeks, the compliance process has now been approved by the regulator", which in reality holds as little weight as all the other utter inaccuracies and blatant untruths issued by CTAG over the years - a thing which provably continues to this day.

There's a little more mileage in Dougb's floated posit that maybe, just maybe, recent comms from disgruntled holders with various regulatory authorities has got said authorities interested in some way - but as I'm sure he'd acknowledge, there's no guarantee of that either.

The long- and much-promised answer to the Jerry Maguire question remains as conspicuous as ever by its absence.

Whsopering)

What I'm having trouble with is that the only mention of regulators and compliance therewith has come from the CTAG website (an organ hardly renowned for either its accuracy or veracity).

And yet some here seem to think it reasonable to take it as gospel that some regulatory authority has marked Amit's homework and given it a big green tick... solely on the basis of "because Amit said so"?

That's bizarre. In spades.

BP you're entirely wrong.

There is literally nothing subtle or sly, crafty or wily about Insidious's ramptastic nonsense.

He merely posts facile and blatant untruths (as is oh so easily proven with the briefest look at reality as it transpires). There is literally nothing clever whatsoever about any of them.

I mean, i could almost have a grudging respect for anyone trying to pull off a complex and sophisticated con... but this guy's just a trite and boringly obvious buffoon.

A far better question is... why would they not?

I can certainly see what's not happening - and that'd be your Jan 24 assurance that the ANGS SP would be at a minimum of 1.5p by the end of March this year.

And I'm the naive one? Well, I certainly would be if I listened to any of your incessant ramptastic fairy tales.

Ibug, the key weasel word is "conditional". A "conditional binding promise" is an oxymoron, basically meaning "a non-binding binding guarantee", which is of course a nonsense signifying nothing meaningful or substantive at all.

So, the issuance of a further 238 million shares to Riverfort and YA gets announced today (hardly a surprise to anyone with even the most fleeting knowledge of UKOG). The clever money also says that these shares have been busily being sold in sizeable chunks before being issued.

Okay, another £50k paid off, courtesy of the latest eye-wateringly painful dilutative action above....

...but £260k is still owed. By my reckoning,, that'll need at least another 1.2 billion shares to be issued before this is cleared - and those will all need to be sold.

News flash... a comment of "looking good now. 7v2" wouldn't normally be followed by another 6%+ drop.

Another blinder from Mystic Meg Onetomany. He can't make an even vaguely accurate next day prediction.

But before that, perhaps best to work on some material that actually has the slimmest chance of being vaguely amusing.

Gee. A company announcing its results will do its utmost to sound positive about its future prospects... whoda thunk?

As to a "very good period coming up", this is just the latest prediction from this BB's self-appointed version of Mystic Meg. Sadly, Onetomany's track record as a fortune teller is dire. Remember how he assured everyone on this board back in late January when the SP was 0.5 that it would reach 1.5p as a minimum by the end of March?

Reality check for Meg and his feeble ramp attempts. Rather than trebling as per your sooth-saying, the SP is actually 25% lower than when you made that laughable reading of the runes. Better invest in a new crystal ball...

The UKOK board of directors - and especially the CEO - need no help from anyone whatsoever to bring this company down. They're doing an outstanding job of that all by themselves.

"The company should be honest and now state that Horse Hill is NON commercial and will be plugged and abandoned."

Sadly, that's the last thing UKOG will do, despite it being ever more glaringly obvious that this is the case. Two reasons:

1) UKOG needs all the distraction material it can lay its hands on, no matter how flimsy.

2) It cannot possibly afford the P&A decommissioning costs.

Oh dear... "bizarre final throws" (sic)... that's ironically amusing.

For someone so keen to bewail an alleged rise in general stupidity based on others' spelling errors, 1984 needs - as a fair few do here - to take a long hard look in the mirror.

The word is "throes".

The slight downside to producing as much as possible is that any gross (i.e. pre new hedge) revenues from gas sales are subject to an 8% royalty (going to Mercuria/Aleph) which will almost certainly get paid in diluting confetti at the Jun 30th quarter end.

Smacks somewhat of a rock and a hard place...

"We live in a world where nearly everybody is monumentally stupid. No wonder they can peddle scams like covid and climate at us!"

...or shares in CTAG, by the ongoing look of things.

I'd not set too much store in Mystic Meg Onetomany's predictions, Barney.

He's the guy who promised you and anyone else stupid enough to listen back in January that the ANGS SP (0.5p at the time of his oh so astute divination) would be a minimum of 1.5p by end of March.

Two months after that self-set deadline, and rather than trebling as per his assurance, the ANGS SP is actually down by 25%... the man's a genius.

It's going to keep the Ocebot very busy in trying to support the SP with the usual substance-free puff and nonsense. The poor dear has nothing left with which to try to polish the unpolishable.

This is so blatantly obvious.

Release (or actually re-release, because posting that on the UKOG website had no effect, despite the Ocebot's best efforts to draw attention to it) a literally valueless piece of PR puff and nonsense, trying to imply a working partnership with Sumitomo (of course, it means nothing of the sort)...

Then immediately follow that RNS with another detailing the results of the AGM vote, which allow the BoD to double the number of shares in issue and hope that everyone's so excitedly distracted by the meaningless Summit nonsense that they don't notice.

The big winners out of this short-term spike will be Riverfort and YA, as they sell more shares they'll get as part of the death spiral.

That question has two TRUTHFUL/REAL answers, as follows:-

a) Nobody outside the company knows, because ANGS in its usual non-transparent fashion has revealed no details at all on the offtake agreement with Trafigura, nor on the terms of the replacement hedges with the same party.

and

b) Not enough to consider paying Mercuria and Aleph their monthly 8% royalty on gross production revenues in cash. The company - to date at least - would instead rather issue more diluting confetti.