Member Info for ipadtrader

fjones I think your being a bit disingenuous with those replies, Ninetails is absolutely right, having visited HH you then reported back that you had in fact had a brief encounter with our silent but in some investors eyes 'esteemed leader' and gave the impression that you had pretty much seen the epiphany that you were more than happy with what you had seen and heard and while you couldn't say too much would post again later..........and we never heard form you again.

So when you say to Ninetails......"Nine tails let me assure you and others I will say when I buy and sell and 150% would not mislead anyone"....that plainly by your own admission isn't true, personally I don't care when people buy or when they sell its their business but I do care when somebody posts on a BB and as Ninetails points out and 'leaves the board buzzing' someone I might add who up until that point was a known regular poster and a fully paid up member of the UKOG fan club and then vanishes into thin air selling their holding not to return for several months.

So you did mislead....you gave everybody the impression that you had just seen the second coming and then sold your shares didn't tell anyone and went more silent than silent Steve himself......very poor in my opinion and in my eyes as far as I'm concerned and I suspect in a few others as well.......you have lost all credibility.

Ironhide yes your right but without news that sort of opportunity is presenting itself to traders less and less , Tellurian seem to be selling at any price they can get and YA will always get a guaranteed margin whatever the SP so will just keep selling regardless and if they run out of shares will just forward sell.....and because of that while silent Steve stays silent the SP will continue to decline.

I don't understand why people think the SP is going to move up, how can it, with YA and Tellurian still looking to off load somewhere in the region of 800 million shares at every opportunity without news and it will need to be really pretty good it doesn't matter how many shares are bought on a daily basis with that sort of pressure it will be impossible for the SP to go North for quite some time

Amazing what some good PR can do for the SP as demonstrated over at PANR......take note silent Steve

I think its fully justified that LTH's are becoming increasingly concerned about the performance of the CEO and the performance of the company in general....bar UKOG I'm struggling to find any other listed company out of the 2600 listed on the LSE that following the recent turmoil where their SP has reached a 52 week low (which actually most did) has not rebounded in even a small way.

So yes its very concerning that UKOG having sunk to a 52 week low and pretty much an all time low and rather than rebounding actually looks set to continue falling further.

So basically with YA's outstanding conversions to come the share overhand is about 1.1 billion which is far higher than anybody thought, that will take at least 6 to 9 months to clear and then Sanderson will be straight back to YA as he has already intimated for another 4.5 million (assuming YA still want to do business) and another year+ of overhang ....if he hasn't managed to crash the SP altogether.
This rabbit that everyone is hoping will be pulled out of a hat is going to have to be seriously huge because as a long term holder of nearly 4 years if its not I'm not sure I'm going to see my money again.

Hold up, you parachuted in here less than two months ago and your telling a LTH of nearly 4 years who's just found out that the CEO has trousered a bonus of £310,000 for taking the SP to a 1/3 of a penny to chill out....what

180 tankers

When you lay it out like that Mirasol it does all look a bit to convenient for my liking

Crumbs a £310,000 bonus for reducing the SP to 1/3 of a penny, no wonder SS doesn't pay to take up any of his options......with that sort of bonus why would he bother

Well personally I'm now feeling pretty downbeat about this share and when you have UKOG twitter group allies falling out you do wonder what the outcome will be, I have never made a secret of the fact that SS lost my trust quite a while ago initially from the see it, smell it, touch it RNS's every few days at BB to complete radio silence for weeks and weeks resulting in an RNS pushed out between the Christmas and the New Year of 2017 when hopefully nobody was looking saying basically sorry guys but it didn't work out.

This guy has spent over £70 million (over £10 million at BB) and from a shareholders point of view the SP is pretty much where it was when he took over save the fact that the shares in issue have now more than trebled, I can just imagine what the likes of Warwick and Regency etc are thinking having 'escaped' with 7.5p ish per share for their interests.

I have never known a company anywhere across the markets that due to the finance it has chosen to take and the acquisitions it has made through the constant issue of shares that has resulted in a share overhang that has lasted for over 2 1/2 years, the current finance arrangement with YA has I would guess has another 6 months to go plus Tellurians share disposal seems to be going on forever and they themselves have another £1 million to get shot of come the end of March.

If you then add into the equation that SS has already signalled his intension through the GM to dilute further and we know that he will be itching to get his hands on the £4.5 million that YA said could be on offer ( although I'm not sure they will be so forthcoming with the whole amount as things stand at the moment) then its realistic to expect that the share overhang could go on for another 18 months ......and that would be 5 years of overhang and dilution....not great.

SS's attitude to acquisitions of licences and interests through endless dilution is in my opinion not the actions of a competent CEO looking to build a company on behalf of the shareholders but more of a geologist caught in a sweet shop, I have said many times that I don't doubt his expertise in his field.....but I do question his credentials as a CEO.
I have run a couple of companies in my time and I've never forgotten a bank manager telling me once not to become a 'busy fool' in other words there's no point in rapidly growing a business having lots on the go if your not making any money.

My message to SS is start acting in the interests of the shareholders no more dilution for acquisitions/interests/drilling, slow down get the two wells producing at their optimum level and use that revenue for the next drill at HH, yes a longer process but I think the alternative will be a decimated SP which SS will then want to consolidate so that he can start the whole dilution process all over again thus destroying LTH's investment for good.
Fingers crossed for next week.

Skwizz. Well that post certainly passed me by but if that’s what he said it wouldn’t be the first time that SS has done some ‘misling’ (there’s a new word for everyone) but I certainly hope it was the last.

roganjt .....The trouble is with all these cryptic reports we had fjones who after a site visit (I think before Xmas) reported back that he had seen things and heard some secret stuff and nobody was to worry....and then the next day he completely vanished never to grace this board (except maybe once) again.....and the only news to come out since is the well has sprung a water leak

So cryptic coded reports are not good ......I just thank my lucky stars that SS says the train has left the station imagine where the SP would be if it was still parked in the sidings, although I am starting wonder what the difference is.

I see Tellurian (I’m assuming) get the week off to a flyer with their first ‘dump at any price’ offload of more or less 2 million shares, without positive news appearing pretty quickly, sadly I can’t see the market being able to continue to swallow them at the rate there going without a further decline in the SP....especially when you add in the shares that YA still have to sell.

I think its pretty clear now that the SP is being driven down by YA forward selling, another 7 million offloaded at .58, I just don't believe that Tellurian, Solo and certainly not the Mystery £2 million placing man are selling into the market at any cost.

For my money YA just keep selling knowing they can hand back the shares to the MM when they have given notice to UKOG to convert some more and then start forward selling ready for the next lot, I don't see this stopping until the end of May at best and SS has already signalled his intention that its going to continue with another loan off YA of between £3/4 million and I'm just not sure the market will ride that.
Lets not forget that SS has pretty much spent £70 million so far and here we are with the SP more or less back to where it was before he started spending that money.....that is not a good record for a CEO to hang his hat on and lets be honest, he talks about being a 350 company, no CEO of a 350 company would still be in a job after spending that sort of cash (in relation to the market cap of the company) and returning an SP similar to the one we currently have.
I'm starting to wonder whether he would have been better putting the cash in a tracker fund and paying us out a dividend

Mirasol......that is a fair point.

Yes and I have posted previously that I wasn’t convinced that YA would continue to lend when you see how much longer it is taking them to shift the shares this time round .....but also I’m not comfortable with the relationship between YA and SS at the moment because with some of the decisions that have been made I wonder whether SS is working for YA or the shareholders.

The 3-4 million that are still on offer to SS from YA is genuinely my biggest concern here because history tells us that any opportunity to raise any amount of money through dilution regardless of the effect on the SP or the number of shares in issue SS will take it.
There has been a constant overhang here for 2 1/2 years and the SP has reflected that and the likelihood is the current overhang which at the moment is the result of selling by three different parties will not be cleared until possibly May/June. My own opinion is if SS were to jump in as soon as YA are out and take a further £3-4 million off them and start the dilution process again I think it will crash he SP as everyone who’s in gives up and heads for the hills and investors that are not in look at the pattern of the firm and join them on their run to the hills.

What I want to see when the current overhang clears is a period where we don’t buy licenses don’t drill IOW or loxley or anywhere.......all we do is concentrate on HH and getting it into production and producing revenue which in turn can fund further drills, it may take longer to get everything up and running but it’s a more solid way to build and also more investable for future investors, a geologist may not understand that but a good experienced business minded CEO certainly would.

I think it’s time to stop running and start walking a bit especially with the current water problem which proves the point that it’s a lot easier to get injured running than it is walking.

Well I have to be honest and say as a LTH of 4 years who has thousands of pounds invested I am now losing faith in the company, my own opinion for the last 18 months has been regardless of how good SS's geology skills may or may not be one thing he clearly isn't is a CEO and the decimation of the SP is testimony to that.
Since he has taken over the helm he has spent nearly 70 million pounds yet 5 years on because of the constant dilution the worth of the company (the market cap, SP whichever measure you want to use) is pretty much where it was when he started....with that amount of investment and the return its currently showing there are not many CEO's that would still be in a job.

Its likely that there are still millions of the funding shares waiting to be off loaded and he has clearly stated that he has the option to go back to YA and take a further £3.5 million funding which we all know he's going to do although I do wonder with such a rapid and increasing decline in the SP whether YA will want to get involved, lets face they have ben offloading for 6 months and still have over £3 million to get through from the current loan so this time round it has been a bit of a grind for them.
I averaged down again at .95 to bring my loses down and here I am nearly 50% down already on that investment, people keep knocking UJO yet their board were able to secure an institutional placing that has underpinned and held their SP firm since November and avoided the constant decline that we have and continue to have at UKOG, SS has not been able to do that because since the 'smell it see it touch it' RNS and then the endless missed deadlines and endless dilution the market doesn't trust him.
Sanderson has constantly shown that he has no interest in providing shareholder value which is pretty much where a good CEO's number one priority should be and having heard nothing about his expired .04p options I'm fully expecting at some point an RNS announcing that the 'board' have issued him new options at .025p.

Now I know there will be many ultra rampy posters many of which have only turned up recently that will slate my post call me a troll and say stuff 'sell up and move on'.. 'stop moaning' ...'great price to buy', ...well you know what, I'm fed up the 'its going to get exciting in the next few weeks' because that has been said for 2 years, I'm fed up with him buying up everything before he's generated any sort of income stream...what I would like is a new CEO who understands his loyalty is to the shareholders and not as it seems to YA.

If you want people to take anything you say seriously you are going to have post all the pseudonyms you have been using up until yesterday