Member Info for honador

just over $1.6mil in gross revenue for UKOG's share over the EWT period across both the Portland and Kim and we're still looking at an MCAP of over £65mil...

No wonder the market no longer reacts to these 'holding' RNS anymore.

Still waiting on that CPR and an explanation of what the £3.5mil was for.

See my comment just now, they are not major shareholders. They are nominee accounts that holder PI shares

The 68% you're referring to are all nominee accounts, they are not institutional investors!

There are no major shareholders in UKOG, we at least not above 3% any way!

The ink isn't even dry on the previous raise of £3.5mil and yet less than 3 weeks later, the decision is made to issue more shares (albeit a minimal amount) for the sole purpose they stated they were raising the funds the £3.5mil!

I get that AIM is a mechanism for raising capital, but when you've got people stating that income is being generated from the oil extracted during testing and then over 500mil shares issued since the turn of the year, some investors might be a little confused as to why the funds supposedly raised for investment aren't being used for investment...

You have to laugh at the timing of this. Another placing almost immediately after the AGM, so that SS wouldn't have to face yet more shareholder angst at the AGM.

More mistruths regarding the previous fund raise (and the one before that), where it stated their purpose was for future investment.

UJO and EOG are the winners here. Immediate cash and shares available to sell in to any rise here.

Still no explanation as to what the £3.5mil was actually required for, and presumably, additional costs come with additional %'s?

MMs couldn't care less whether you're a long term holder, trader, shorter...

To them, you are a transaction. All they want is volume where they can maximize their margin.

I can also assure you that MMs will make much more than £20 on 2 trades (pmsl). I think you're confusing your broker commission vs the amount made on the bid/offer spread?

It's refreshing to see you actually asking sensible questions for a change DHC, rather than ramping this stock to high heaven.

I'd never thought I'd recommend one of your posts, but holders would do well to go back over previous statements made by the company and evaluate where money has been spent...

So perhaps UKOG should focus on the published 2019 work plan rather than raising additional capital for speculative assessments and acquisitions.

Why divert focus from current operations when they are yet to proved via a solid CPR?

I'd say the biggest problem is the fact that over 500 million shares have been issued since the start of 2019.

Today's announcement shows complete contempt for shareholders and introduces yet another overhang to clear before any possible rise in SP.

The key word there is 'assessment'. No guarantee of acquisition, and what if their assessment costs are equivalent to the proceeds raised today? Further funding would be required to actually acquire anything...

Further information would have been useful as the RNS doesn't even state whether they have identified a potential asset for assessment, so I would hold fire on the high fives for SS just yet as to date, he has returned absolutely zero shareholder value.

For today UKOG hit over 6 billion shares... The reason for the placing sounds like complete rubbish to me. Why place for future acquisitions? SS normally issues shares in the hundreds of millions to buy other party's interests. Sub 1p for sure I'm afraid.

RMP also have a 10th of UKOGs shares in issue.

Simple supply and demand, there are plenty of UKOG shares in free float with people happy to accept small % gains.

Don't know what the free float of RMP is, but with their news, I'm sure MMs would have struggled at times based on demand, hence the good rise there today.

You could very easily get to 3% if you added various trades together...

Best wait to see if there is a notification before speculating that an II is buying in. Although, it could well be those crafty French billionaires buying in again...

Why would a TR1 be issued for 129m shares?

No requirement to notify as under 3%.

All this talk of IIs over the past week is simply made up nonsense and pure speculation. Only PI money going in to UKOG in my opinion.

DOR only had £290k in the bank at the end of the last quarter, not sure what their burn rate is, but they'll need funds just to keep the lights on...

Unless DL puts his hands in his own pockets, which is very unlikely imo.

I get that it limits DOR's liability to future input in to HH drill costs, but, as others have mentioned, why sell at such a low price if the prospects are as good as DL has suggested thousands of times on twitter.

I personally wouldn't trust a word that comes out of that mans mouth.

IMO

Or an alternative view is that DL sensibly forward sold this week in the spike up to 1.90 for an instant profit. Hence why there has not been any holdings notifications from French billionaires or BP, Shell etc... DL will not hold these shares, DOR require the funds just to stay afloat. Just imo

Thanks E_AL, I understand the terms of the arrangement.

My point was more that at least it isn't a drawdown facility for millions, that would result in billions of shares being issued that would have a negative impact on any future growth prospects.

Don't forget Total, Shell and the French billionaires...pmsl!

how DHC turns up when UKOG turns red, having sucked yet more people in with his 2p ramps.

Did you get a response back from the FCA regarding your complaint yesterday? Have those fictitious buy algos not yet kicked in today? Has there not yet been confirmation that the French billionaires have bought back in.

All UKOG is good for is a trade and thanks to the likes of you, it is made so easy.

In regards to ANGS, there is of course a delay, but it is inevitable that this will be resolved. The YA finance deal, although not ideal, is for only £3mil. Let that sink in, only £3mil! We are not talking billions and billions of shares!

For the purposes of balance DHC, the facility is only £3mil.

Using today's VWAP, that equates to a little over 52 million shares, or 13% of the current shares in issue of ANGS.

Whilst dilution isn't ideal, we're not talking billions and billions of shares being issued like we have seen here at UKOG.

Did you heed your own advice and short UKOG down to current levels when the finance arrangement was announced here with YA? Some did, and made an absolute packet!