Member Info for jono44

So what's his thinking behind this.

If he was expecting bad news, don't think he'd throw £150k away.

Is he happy with the way things are going, he'll know better than anyone, he must be.

Big positive if another director follows suit.

Hard to believe the sp didn't react positively but confident that after today's director buy there's no bad news on the horizon.

Don't think there's a requirement to notify within 48hrs and remember uog is listed on aim where rules are easily ignored.

Perhaps the fact they issued their research note and publicly published their disclosures prompted them to inform the market, albeit as you rightly pointed out 4 months late.

As we all know from the last few years with covid, rules only apply to certain sections of the population.

Sorry pre2rcd, but I think it's the opposite and someone does not want the shares but that's just my opinion.

Tennyson Securities, a trading name of Shard Capital, managed or co managed the last placing and in doing so also took part in the placing, I belive.

8 : As of the month end immediately preceding the date of publication of this report, or the prior month end if publication is within 10 days following a month end, Tennyson Securities and/or its affiliates beneficially owned 5% or more of any class of common equity securities of the relevant issuer.

Now todays rns states that Shard Capital, and remember, Tennyson Securities, a trading name of Shard Capital, has disclosed it has 3% of the Company, refer back to 8 above, not 5% ?

I still believe that the recent updates, presentations, of which there have been quite a few , and yesterday's research note released by Tennyson Securities, a trading name of Shard Capital have been done to prop the sp for sellers.

Also if uog need another equity raise, which they have alluded to, then the brokers will know and want to sell their shares before it happens.

I also believe that there might be a share consolidation for thus to happen.

But just my opinion and not advice.

"The following disclosures relate to this document: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. This is a commissioned or a non-independent research note/comment. In the past 12 months Tennyson Securities or its affiliates have had corporate finance mandates or managed or co-managed a public offering of the relevant Issuer's securities or received compensation for corporate finance services from the relevant Issuer, excluding acting as a corporate broker, on a retained basis, for the relevant issuer. Tennyson Securities expect to receive or intend to seek compensation for corporate finance services from this company in the next 6 months, excluding acting as a corporate broker, on a retained basis, for the relevant issuer. The Investment Analyst or a member of the Investment Analyst's household has a long position in the shares or derivatives of the relevant issuer. The Investment Analyst or a member of the Investment Analyst's household has a short position in the shares or derivatives of the relevant issuer. At the date of production Tennyson Securities or its affiliates have a net long position exceeding 0.5% of the issued share capital of the relevant issuer. At the date of production Tennyson Securities or its affiliates have a net short position exceeding 0.5% of the issued share capital of the relevant issuer. As of the month end immediately preceding the date of publication of this report, or the prior month end if publication is within 10 days following a month end, Tennyson Securities and/or its affiliates beneficially owned 5% or more of any class of common equity securities of the relevant issuer. A senior executive or director of Tennyson Securities, or a member of his / her household, is an officer, director, advisor, or board member of the relevant issuer and/or one of its subsidiaries. Tennyson Securities acts as corporate broker, on a retained basis, for the relevant issuer. This research note has been seen by the relevant issuer to review factual content only prior to publication. Factual changes have been made by the relevant issuer prior to the distribution of this note/comment. "

Looks like price is being held up so placing shares can be offloaded, the reason for so many presentations and investor events post placing.

This doesn't sound promising

"The Company also announces that its AGM, at which shareholders will have the opportunity to consider the Serious Loss of Capital under section 656 of the Companies Act 2006"

Also the company were issued issued with a default notice for unpaid cash calls of $3.8 million from the operator of abu sennan in January 2024 and this has Not been resolved!

The placing has gone on the settlement of the debt to bp so imo if they don't get a farmout sorted for Jamaica soon and to be honest it seems unlikely then another equity raise will be required but as they don't have anything to offer it might not happen.

But as the ceo says

"2023 was a transitional year for United", indeed it was.

United normally post they final Results end of April, doesn't seem like their going to this year.

'not a great vote of confidence'

Yes he got 75.4% of the total votes cast but he only got 28.6% of the total votes that could have been cast, so an awful lot of shareholders did not vote and the reason why it succeeded.

Also he only succeded by exactly 1m votes, it wouldn't have taken much to swing the vote so a great vote of confidence imo.

I would be very sceptical now on anything that uog says.

For instance they released an rns on 2nd Jan saying how pleased they were about the results for the ASD S-1X exploration well but failed to tell investors that they couldn't afford to pay their share of the cost of the well and had in fact been trying since November to exit Egypt for that reason.

Well it seems the begging letter to shareholders worked, just.

They needed 75% of votes cast they got 75.4%, think shareholders had no option and probably a lot declined to vote against the the placing but couldn't vote for it either.

So maybe now uog will update the market as to whether they have,will or won't pay the outstanding debt and if they could also let the market know the outcome of the default notice served on them in January that had to be addressed by 28th Feb!, they seem to want to keep it quiet.

Thses are market sensitive and they should be made public according to aim regs.

What's false?

Aethir.ai, gpu.net, io.net., upcoming, just for you, good luck.

I wouldn't take what BL says with a rather large pinch of salt,

Because of the reluctance to tell shareholders exactly what the outcome of the default notice was there can be no guarantee that they will receive any more money from EPGC.

KEE are owed $3.8m costs owed to them, why should they be liable for Uog's costs they can't just walk away hence the default notice.

BP will also be looking for their debt to be paid.

Maybe after the placing, if the begging letter succeeds, then aim rule 11 might be adhered to!

Anybody take up my tip on bitcoin and the crypto market, fantastic opportunity to make up any losses, don't ignore this but dyor and lots if it because this won't happen very often, every 4 years.

So Bl getting worried that shareholders are going to vote down the placing.

Vote it down and shareholders might lose everything vote it up and shareholders might still lose what little they have left but the bod might get a few more months salary.

Pretty shocking that they want shareholders to vote yes for the placing but still keep them in the dark.

What was the outcome of the default notice for $3.8m owed to KEE?

Have they settled the debt of $1m still owed to BP?

Why are shareholders being keep in the dark, I think we all know why.

Just seen presentation pdf on website and is pretty poor in itself.

Blaming economic climate for their bad judgement on Egyptian assets.

Still haven't paid off debt, presumably bp.

No word on the outcome of the default notice, once again not keeping shareholders in the dark, aim rule 11! do they have a nomad?

Obviously desperate for the placing to go ahead to continue doing nothing but take a handsome salary every month.

Selling ahead of placing looks obvious.

Shareholders between a rock and a hard place.

They need the placing to go ahead, hence the ramping, new employee gets 's rns'd which shouldn't have , presentation to keep the bluff going.

No rns's on what's really happening, keep pi's in the dark,dyor.

They can't afford for pi's to vote against the placing, got to pay the wages every month and dont forget the tea bags, that's why Greg is here, new employee, presentation.

I still can't believe that the new employee warranted an rns but they kept shareholders in the dark for months about the fact they were trying to get out of their egyptian assets and stopped paying their share of costs to KEE.

Anyone know the outcome of the default notice, now that should be rns'd !

Totally agree Thorn, grepeck7 definately falls into that category.

This is just more bluff and certainly does not warrant an rns, imagine the rns's that would be released if every company rns'd a new employee.

Now They should have rns'd the fact they couldn't pay their share in egypt when they stopped paying in Nov, did they break aim rule 11?

Their 30 days to rectify the default notice is up, now the outcome of that Should be rns'd not news of a new employee.

Copy and pasting your on post says it all.

Gregpeck7 take it you sold after your last ramping session, probably lured a few people in that are still holding now.

So I bet you have bought back in and are now going to ramp again and again and no doubt some naive investors will believe your bu...

'Stock is getting tighter now, they also have the uk license'

Just pure and utter fabrication do you actually do any research, I doubt it, and the uk licence is worth peanuts and they don't even have 2 brass pennies to do anything and if pi's vote down the placing they've as good as said it curtains and in reality the placing won't last long and isn't anywhere near enough money anyway.

Lloyd I think the forward selling has been going on for weeks maybe even coincided with the arrival of Earl of aims ramping, was he paid to ramp,to keep the sp up for others to sell who knows, but he's long gone.

Another ramper that use to be here was TheDogFarther left here and went on a ramping spree over on harl's bb, hasn't posted there for a few weeks and the sp is falling and imo also heading for a fund raise.

Part of dyor and looking on bb's as part of that research people need to try their best not to get taken in by rampers and even today there's still at it.

Remember uog still have a default notice to be addressed and the 30days notice is up this week, more news to come.

Anybody who had done their own research diligently should not be the least bit surprised by this placing.

But the thing is there might be worse to come.

I don't believe £1m is enough to get uog out of the mess it's in but it will keep the ceo wages coming in and at around $300k a year it isn't far off a 1/5 of uog's market cap, totally unrealistic.

They need $3m for the work in Jamaica, they owe BP $1m which they say will be paid off from the receivables due from egypt,good luck with that,they owe KEE $3.8m,they had $1m in cash but probably a bit less since that statement.

Looks like a share dilution going to be approved along with the placing at the GM and if people do try and vote the placing down what happens then, ask yourself.

Not advice but anyone trying to recuperate some loses here should do some research on buying crypto/ altcoins, with the bitcoin halving at end April there is an opportunity to make some decent money but as always research research research.