Member Info for ipadtrader

you see Mirasol you have missed quoted me and taken it out of context, I didn't say ... "get a great CEO and he'll guide the business", I said that SS may be a great oil man.... "but what we need right now is a great CEO to guide the business".....you can cheer lead as much as you like but to my knowledge this is SS's first stint as a CEO and it really shows .

Sageman I'm afraid I'm with you on this one, Ive said many times that we need a CEO who's recognises that his first responsibility is to the shareholders and understands that the shareholders own the company and they have not invested in the company just for the fun.... and diluting the shares is not a way of obtaining free money and that there is a cost to shareholders every time he does it.
He maybe a great oilman...fine...and Im happy for him to continue dealing with that side of it but what we need right now is a great CEO to guide the business and install some confidence back into the SP.

Also I have to be honest and say that its a bit disconcerting to see that whoever took the placing shares at 1.05 seems more than willing to offload them at any price above, I know at times they have been able to take 1.15 and its all about obtaining an average figure to get an overall percentage return ...but that average is being brought down lower and lower everyday and that does concern me in these times of radio silence.

Kris 1981 I think you will find it was aimed me which is a bit ridiculous really when like yourself I have a considerable amount invested (£43,000) so quite obviously the last thing that is going to interest me is ‘deramping’ my own investment, but that’s the difference between a fan and an investor, a fan rarely questions or criticises a company because regardless of the response they are still always going to be a fan where as an investor does question the actions of a company because ultimately their answers or actions will reflect on the their investment.

So yes I think the current CEO should step aside and take the role of maybe COO and a new CEO be appointed who has experience in running a company and creating shareholder value, I wouldn’t call that deramping I’d call it looking after my investment

Andyrp is was me yesterday that questioned his abilities as a CEO and his lack of regard for the shareholders .....and there we are in less than day he’s just confirmed his disinterest in us by diluting the shares yet against ....and that’s despite raising £3.5m at a ridiculous 1.05.

He cannnot just go on printing money without giving any value to the shareholders and I don’t mean value in 5 years because I have been waiting nearly 3 already, as I said yesterday the time is now overdue for SS to step aside to concentrate on the operational side and a new experienced CEO to come in one who understands that it’s the shareholders that own the business and without their investment there would be no business and they need to start seeing some value in the SP!

This was taken from a post by ‘Ohmetoe’ on Sunday......

........“Considering UKOG are on the cusp of a drilling campaign and oil price on the up and it certainly feels as if the vehicle has a puncture.
No date for a rig , no cpr , no explanation as to why they needed 3.5 million through dilution, and still no skin in the game from SS”.....

And if you throw in ‘vague’ RNS’s I think it’s a fair summery, despite all the promise for tomorrow the fact that the SP is languishing at 1.12 at this stage of the game as a LTH Im not very happy and if most LTH were honest the I’m pretty sure they’re not happy either.

Im not going to criticise SS’s oil industry credentials because he is clearly experienced in his field and has many finds to back that up but what I will say is he is definitely not experienced as a CEO and that he has total disregard for the shareholders and a disinterest in the people that are paying his salary.
My personal feeling is that he should step aside to concentrate on the operations and let a an experienced CEO come in who knows that his job is to give value to the shareholders.

I pretty much agree I’m afraid, SS has told us nothing we didn’t already know and still vague regarding drill start even though he is using the term ‘nearing finalisation’

Following that really poor placing we needed some positive news so you would imagine that if he really knew when we expected to start drilling he would have taken this opportunity the day of the AGM to tell us but he hasn’t and that bothers me, I’m not able to attend the AGM but my issue is without any major shareholders I don’t I believe it will be anything but a comfortable ride for SS.

Before anyone accuses me of rubbishing the company I’m not I’m very positive on UKOG long term but having raised £3.5m at a ridiculous 1.05 for what appears to be a project elsewhere I just wonder why after what is now several years we didn’t just concentrate all of our efforts on proving up HH and get the money flowing and the firm on a strong footing in and if we have learnt some much from BB then go back there and prove that up as well bringing more money in.......I’m all for growing the portfolio but we could have waited until we were in a better financial place and then raised the funds of 10m for 333m shares rather than 3.5.

It seems that who ever took on the recent placing shares are selling at at 1.15 down to 1.1025 and are happy to pick up a return averaging something like 8% and while they were probably hoping for more, I guess something approaching £300,000 for an ‘investment’ of 3.5m over a couple of months in theses ‘uncertain’ times of brexit Is not a bad return.
I do think though without some positive news at the AGM if we are going to continue this radio silence save the vague drilling dates and even vaguer (not sure if that’s even a word) imfo regarding placing opportunity...it may be another 2/3 weeks before we see the back of the most recent placing shares, at least it does appear we’ve found the bottom so hopefully as Yazoo once said ‘the only way is up’

Well you have to say on no news we are now down 6% on less than 0.4% of share issue traded....patience or not it does mean when the good does drop it’s such a long way back to the heady heights of 7p + it’s going to be very hard to hold any sort of decent rise and stay there.

Yes apologies....my mistake, I’m suffering from decimal point blindness

Idespair well look my calculation comes from 25m at an average of 0.016 = £400,000 so you need to tell me where I’m going wrong because £300,000 would be 18,750,000........not that it really matters now because it’s yesterdays news and in the price.

Well by reckoning no it’s nowhere near £250,000.....it’s nearer £395,000, about 25m shares dumped after 4.08

Pings I have pretty much £24,000 invested in this share so deramping.....I don’t think so...my agenda is clear, yours on the other hand while clearly informed with regards to the oil drilling industry is somewhat more murky.

...’I could sell 500,000 shares at above the mid point’......does that make it count as ‘positive’ post from you or do we just regard the whole post as yet another one of pingu’s negative posts.

I agree with both of your posts DHC, we can’t be doing anymore deals for dilution because it’s clearly having an effect on the SP now and the constant drip feed of shares over the last 18 months is the reason we are at 1.22 and I think it definitely is putting buyers off now.

Regardless of the news/developments to come no one can deny that seeing the SP drop back yet again towards 1.15 is more than frustrating, it just seems unable to hold any sort of rise and obviously without a gradual rise North and a base being built its going to make it very hard when some really good news breaks to make it up past 3/4 p without the SP just retracing back again.

So isn't that the second time it's been moved back a month.....pathetic!

I know it’s not fashionable to moan about the SP but whether it’s driven by news or sometimes nothing at all there does seem to be a very worrying pattern developing with this share that following any sort of rise we then spend the next couple of weeks watching the SP retrace back to where it started.
I know that before some have even finished reading that sentance they will be frantically typing that it’s a long term hold and I agree it is ....but even with long term holds as the company grows and strengthens its business releasing news along the way the SP grows with it but it appears with UKOG that it’s just not the case and as a share just defies all logic.

In my opinon we are now suffering from two real problems one historic and one current, the historic problem was the see it, smell it, touch it fiasco at BB..... whether we obtained great information or not they way it unfolded was a disaster and I think that still lives long in the memories of many, the other problem is the pattern here is now becoming more predictable than the rising of the sun and it seems as a result traders have now got a firm grip of this share and as a result are able to make regular returns.

CPR results may bring a sustainable rise but the biggest issue for me is the amount of shares now in issue and I can’t see that anything is now going to change with regards to the share being constantly traded until they are consolidated but with the recent history of dilution given they have nearly doubled in 18 months my worry would be that SS would then be in a position to start that process again

Interesting that the support registered, in the end looks to have outweighed the objections.

Somebody is still off loading a lot of shares, the trouble with all the share placings we’ve had I’m just losing track of who it might be but certainly today the offer keeps being raised to sell chunks at 1.45

Im not happy about further dilution because he did say only a couple of weeks ago that with cash coming in there was no need for further dilution....it just seems that every time the SP starts a recovery more shares are issued, having said that the reason for the sp climb does appear again to because people got wind and maybe the 26m, 2x10m and the 6m were shares that were forward sold.