Member Info for JiffyBag

Jay,

Add to that, we now have an Ex Hurricane Financial Director added to our team.

I have both HUR and UKOG shares, so am well chuffed.

Jay,

At this stage, I am not too concerned at the number of shares issued as my time horizon (God Willing
, I'm still here) is to see the company develop and flourish.

And let's not forget all fledgling exploration companies have a requirement for cash, be it through placings or institutions as with the last issue in order to get to the point of commerciality.

Yes, it's a gamble as with all things in life, but overall, that's why I am here.

Last week I was £12K down, this week I am £5K down, all is moving IMO in the right direction.

Some folk are even further away than I am etc.

The point is you have to take a broader overview of what it is that you are investing in.

You have to look at the management structure and it's competences , and since UKOG have joined forces with others plus support from Schlumberger et a, then I really believe we stand a very good fighting chance of making UKOG a winner.

Jay,

Your exact words, not mine fella.

Jay,

Re: I've made no reference to shares in issue today..

'How's about we discuss UKOG (play the ball, not the man)? How you feeling about yet more shares in issues? I did mention the issue of dilution last night, but more shares in issue always seems to be a psitive around here... At what point will PIs actually start to get annoyed with the UKOG board?'

Forgotten?

WP,

To be honest, I don't care if it's a 100 or 700 BOPD, at this stage all I want to see is the word 'Commercial', in the next RNS.

Why?, because then I know we will be moving onward's, albeit incrementally.

JayKay,

I was simply referring to you earlier posts of the number of shares in issue, have you forgotten that already?

Of the endgame here, this is not a 5 minute exercise.

1. HH when and if declared Commercial, will add significant value to UKOG as a company.
2. A production licence when and if declared, will add value to UKOG (irrespective Jaykay..?) of the number of shares outstanding/issued.
3. Outside of Horse Hill, UKOG have other potential oil bearing assets currently being planned for, eg Holmwood, Isle of Wight, and Markwells Wood, plus a re-visit to Broadford Bridge.
4. In other words, plenty of irons in the fire, yet to exploit.
5. If HH is comercial, then that will partly fund moving onwards as above.

All Imo.

True, but charts can't predict the future

Looks like the Wilderbeast herd are coming 😀

Orson,

I am £12K down at the moment, but I am confident that I will get that back, all of course in my own honest opinion, if that makes you feel any better?

Why do I think that?

Because , I think the Portland will be declared Commercial and the Kims too.

This will move the company forwards in proving the Weald Concept and as the cost of extraction is lower than offshore. Organic growth and Octopus wells are a real long term possibilty ,and with that comes increased production, and cost efficiencies.

As soon as the concept of the Weald is proved then the future is looking good, again all imho.

Just stick it out and wait.

Onshore

Orson,

I sincerely do hope that you get your money back and more.

But it has to be said, that you do not help anyone with your postings.

What is your average, anyway?

Orson,

Personally, I can't wait till I never see a post from you ever again, as all your posts are 5ollocks and offer nothing.

Good luck with your alto investments.

Outside of an 'Options Regime'

Penguins,

Thanks, see what you saying now, ie 'Options' are just that, and are treated as share based payments and are only 'Options' in lieu of payment and nothing else. A bit confusing I must admit, but I think I understand now.

I was under the impression that part of their pay would be made via shares issued to them personally and that they could simply hold or sell etc.

Chitty,

Fair enough, my apologies,

It all lies in the term, 'Share based payment reserve” represents the value of equity benefits ,........... ie Equity Benefits,

Were they sold or are they held?

Page 49,

http://www.ukogplc.com/ul/UKOG%20Annual%20Report%202017.pdf

Scandic,

You do realise don't you, that SS took some shares in lieu of salary, see the annual report/accounts. 2017.

'Share based payment reserve” represents the value of equity benefits provided to employees and directors as part of their remuneration and provided to consultants and advisors hired by the Group from time to time as part of the consideration paid.'

Now this would imply as they were not taken under 'Options' they may not be reportable.( I stand to be corrected of course by others whom know the legislation better than I )

In other words, Scandic , SS may well have a very large holding , because as yet we haven't seen any RNS's of him selling UKOG shares, but we certainly do know from the accounts that he has received some. Now whether he recived the proceeds of sale of shares that is another matter. But on the whole he may well have received shares and not sold any as yet.

Cashman,If the results are good, how will that sit with your hypothesis?

Chitty,

Re; 'I know that seadoc, it's the investment bit I am having difficulty with'

If you are struggling with the concept of 'Investment' in UKOG, then why don't you simply sell up and move on?