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Regarding share consolidation unfortunately I think you are probably right and it’s rarely a positive thing for LTH’s, generally once consolidation has taken place more often than not the price falls making your original holding worth less than it was before and having been invested in a few companies that went down that route I have experienced personally.
My biggest worry though about consolidation is that given SS track record of being happy to raise ‘sharecoin’ at any price regardless of the effect on long term shareholders I fear that once (if it does) consolidation takes place the whole process of ‘sharecoin’ will start again dragging the SP down and further diluting the holdings of LTH’s.

Thorpedo the acquisition increased Ukog’s own share of the spoils by 69% but the increase in drill costs to Ukog is only 35%

Looks very much like the forward selling has started

Well obviously there are billions of shares (6 billion) but you can’t put it just down to ‘day traders’, what day trader is making a profit selling at .93, .94, .95 and .96 ... none I would suggest.

I don’t know where all these sub 1p shares have come from but there seems to have been an endless supply for sale for weeks and weeks .....and I’m now getting a bit sick and tired of it.

I agree DHC, your post might appear negative to some but the fact is.......it’s factual.

I also concur with you Oakleak that the best use for the mysterious 3.5m right now would be to spend it on getting the oil into production at HH, create revenue, lift the SP and then if we really need the mysterious 3.5m raise it again at a higher price for less dilution.

Oh come on, honestly I'm not having a go but this comes up everyday and everyday somebody explains that the colours are only a guide and not an accurate reflection of the trade.
My version for what its worth is.... ignore the bid and offer price and use the trading range at the time the trade was made to ascertain whether it was a buy or sell and you can then clearly see that there has not been 21m buys and 1.6m sells.

I don’t know why you would be surprised that the SP hasn't risen, there has been an endless supply of 1m + shares for sale for months in fact 18 months and wherever they have been coming from be it previous placings or shares issued as part payment for percentages sadly there just seems to be no end to the amount of shares ready to be sold regardless of price.

Impex the trouble is every time we think that shareholder value ‘will come as a consequence’ SS dilutes again thus making shareholder value more less likely each time, it just keeps happening. It’s not just the recent diluting either, last year for instance after one of the 5m raises (which was leaked) 2 days later out of the blue he raised 2m more with somebody else and it was never really clarified what went on there, then a few weeks ago out of the blue another 3.5m.
Let’s be honest none of us would be surprised if an RNS dropped tomorrow and we have bought some more land somewhere and been diluted again, I just want us to prove up what we’ve got and start bringing some decent many to make us more in the way of self funding, for me getting that rig here as early as I possibly could have would have been my main priority not buying more land.

Stocktaker you are right in what you say but my view comes from the same camp as the reply given by Rusty8, SS’s responsibility is to the shareholders and the SP needs some help and some new interest and I don’t see why given the first opportunity he doesn’t take at least some of his options even if he then sells some to recoup his outlay.....at least he would become a shareholder .....even if they are free carry

Baring in mind that I have pretty much £43,000 invested in this company and even if I didn’t could somebody explain why the below post warrants being being removed by admin this morning....I mean honestly that’s verging on censorship

This share has fallen from a high of 10p down to its current 1p yet still no director wants to invest in the company, if they actually believe in the business which ever way you want to dress it up that’s pretty astounding and before anyone mentions ‘closed period’ like it’s a creditable reason SS has been at the helm for coming up 4 years and it hasn’t been in a closed period for 4 years.

A CEO that understands that it’s about providing shareholder value would have dipped into his pocket by now to Inject positivity and show the markets and the shareholders that he has confidence in the business, it’s hardly surprising that big players even at this price aren’t taking the opportunity to buy in when they can clearly see that the CEO has no interest in being a holder himself.

Just as a footnote SOU have not been having a great time of late and were at a 3 year low but this week one director has bought in and another has increased his holding and surprise surprise in doing so have lifted the share price by over 20%.

He doesn’t....I learnt a long time that all his posts are just irony ...he’s just taking the p***......’could it be manipulated to let BP/Total in on the cheap’ ...’.DL was talking to super majors that would fit’ ....’crafty. MM’s’ ......don’t be such an idiot burningspear......a lot of people are down here go and play your silly games somewhere else.

We are in desperate need of an experienced CEO to run this company......one that understands that he’s not running it for himself just so he can find his salary but that he is running on behalf of the shareholders who are the ones that are funding it and before people pipe up to tell me what a great oilman this guy is it isn’t about questioning his credentials as a geologist.

I can tell you I’ve employed some great forklift truck drivers in my time, they could turn a truck on a sixpence and stack high racking with their eyes shut ....but I’ll tell you one thing .......there is no way I would have employed them to run one of my warehouses.

You make a very good point there

Whatnonewsyet......sorry I missed out the word 'that' it should have read ....I don’t actually think it’s any sort of issue and 'that' they are in the know......

Ninvester....A good honest post and pretty much sums it all up, I originally bought in at 0.08 and then 1.27, 2.21 and on the back of SS releasing his see it, smell it, touch it RNS I bought more at even higher price.....clearly that RNS if you are very generous was misleading, personally I think it was far worse than that and sentiment and momentum have been lost to this share since the start of the YA days and it’s never recovered.

Argus1...look I admire your optimism and I’m not having go because I know your a LTH but how can you possibly suggest that the 3.9m trade was a buy when it was executed at one of the lowest prices of the day, if the MM’s were holding shares to cover that trade in order to get a turn on that they would have to ha e been holding onto them since last June which was the last time the SP dipped to those sort of levels and that’s not very likely.
As I said in an earlier post it seems that the placing shares at 1.05 are being off loaded now at any price, I don’t actually think it’s any sort of issue and they are in the know, my theory is and it is only an opinion the bulk have now gone they’ve achieved the percentage they were after and have got room to dispose of what’s left at below the placing price to bring their total investment back in-house.

Ohmetoe...how low does it have to go before ‘impatient investors’ moaning is warranted .09, .08, ....05

Why does everyone keep saying theses are all buys and stop loses being taken out so ‘somebody’ can hoover up,.. is this just to make us all feel better because the fact is if they weren’t mostly sells we wouldn’t be at 1p, what’s more worrying is ‘somebody’ has been happy to sell at any price for quite a while hence the constant decline and even more worrying thing for me is that the only people with the amount of shares being dumped are the people that took part in the placing ....which means they are selling below the placing price.

The reason we are now at 1p is because the CEO has no interest in shareholders like me and no interest in being a shareholder himself .....no what he seems be interested in is making sure there is always enough money being raised to keep the business going in whatever form to ensure the directors still get paid.......and for the record I have £42,000 invested in this share but it won’t come as any surprise my holding is now worth considerably less.

Well that went well today following another ‘positive’ RNS......all it tells me is that if we don’t get at least 1050 bopd from HH-2 pretty much from day one the SP will crash again from ‘market disappointment’....and how ridiculous is that.......that we find ourselves in a situation where the possibility of that occurrence would ever contemplated.

Art, that is actually a very good point and something that should have been considered months ago when they were supposed to be securing a rig.