Member Info for kempey

It wouldnt surprise me if AEX buy us out. They now have the money and we can't fund our share of the drilling. Win win for both companies possibly!!

What annoys me and I have large holdings in both companies is that Solo do sod all for years and suddenly have the same percentage as AEX who have done all the operating work! Do we have enough money to buy solo out i wonder and have 50% rather than 25%?

Thanks CP. I have to say i am shocked although I have large holdings in both. AEX have negotiated a poor deal but I think this can be negotiated upwards. Middle Eastern culture is all about bargaining!! Solo appears to be in a excellent position riding on the tailcoats of the Zubs who will now speed up the whole process. Perhaps i will see my original investment in Solo back after all.

Spot on Drewky. This is low ball offer and needs to be negotiated upwards. Any suggestion of AEX now being able to buy out Solos % in the project?

Only just logged on as I am abroad. Are you saying that after the Zubair deal with AEX, Solo and Aex both have the same% holding in the project?

The next RNS could well be results and sale of Georgia assets to a major. Imo Frr are keen to move to Moldova to repeat the exploration process. They are simply proving up the field for an asset sale.

Crusty..what is your take on it? You have been a rational voice over the years and I have always appreciated and respected your comments. Sorry if you have had your say but I have only just logged on being abroad at the moment.

As a lth with a large holding i am disappointed but how do we know what our 25% free carry is worth? If the gas or oil find is massive 25% may be of significant value in due course. As I understand it we are now free of debt and have funding for other projects whilst taking 25% of whatever is produced from what i believe could be a major oil field. Am i wrong?

It's not high on their agenda at the moment and its only a licence which they have not renewed. They may come back to it in a year or twos time. Better they now officially become an operating company than an investment company. SS is confident I believe of what HH will produce. Good morning from a very hot and sunny Kefalonia!!

Have just switched on and understand the concerns about the placing. However, UKOG cannot carry out all their drilling commitments and purchase new assets without funds and the placement was only at 2p which is only a 5% discount to the price on 3rd July. The company is in a far stronger position financially and I look forward to the IOW drill which looks promising given the geology and the close proximity to the Whytch Farm Oil Field. Given it was only £2m I am disappointed that we the PI's have not been given an opportunity to participate and as some one has pointed out I am also disappointed that SS has not purchased any shares on the open market. The RNS does not say who has purchased the shares unlike the previous RNS which said II's had. Who has purchased them I wonder? DL perhaps!!

There are many questions now that SS and UKOG BOD's need to answer to us the shareholders. What did happen at BB. I am still none the wiser if it is a failure or a potential success after the limited explanations given to us. Where are we buying next? Where are we drilling next? I do think they need to give a shareholder presentation as do many new companies and as SS/DL did at the outset. We deserve to know more than we are being told I believe.

Andy...to buy or sell?

1.98p paid!

Seems to be on the move upwards. Hopefully break 2p today and upwards on the next RNS if positive as expected.

Thanks for setting out the salaries costs of the 4 Directors Bigdouble. It hits you between the eyes somewhat when you consider how little has been achieved over the years and how so many PI's are sitting on losses. Unfortunately I will be out of the country for the AGM as having invested some £20k+ of my pension money in this company I for one would have been asking some very searching questions. Reward achievement and share price/MC increase not failure and share price/MC decrease. One of my worst investments ever unfortunately and persuaded having listened to NR's presentation of the potential some years ago. Hopefully someone will also ask him about the Helium investment and the one in Northern Africa the name of which escapes me at the moment!!

MM's will be chasing stop losses. Usual pattern. Not all buys are showing certainly mine from 30 minutes ago is not and yet the shares and purchase are showing in my account!! This will move back up when they have got enough cheap shares to start selling.

Terry...it's described by GH as high grade mineralisation i.e.Same as previous finds. He is now trying to find the extent of the strike length. This is excellent news.

Kingabe... it usually means that the trade is at mid-point between 'Bid' and 'Ask' and the electronic system cannot determine whether its a sell or buy so colours it black.

Good summary of the situation Dulwich and one I fully concur with. They are too committed to supplying the West with energy and they do not want their own energy supply & development hindered either. We should not forget the Chinese as well as the West are investing heavily in Georgia and they too will have expectations as to the future development of the energy supply development. Georgia is extremely keen to modernise and bring provision for their society up to the best available in the West they will not want this to be hindered by political wrangling. IMO

Thanks for sharing SXXSWE. The most important line for me is 'EDI demonstrated the ability to repeatedly deliver a safe, efficient and cost effective re-entry service enabling low-cost access to over 112 m of net pay for Frontera Resources.' If this is the case then they can re-enter over 200 wells in due course which the soviets drilled many years ago.

Worth a read; https://www.finchannel.com/world/georgia/73716-oil-and-gas-corporation-in-cooperation-with-chinese-partners-to-study-prospects-of-natural-gas-based-petrochemistry-development-in-georgia