Member Info for LONGWAIT

You've absolutely no right to call me a troll, Tymers.
I am an unhappy investor in UKOG and not in a minority, by any means, as the voting indicates.
The end of your post, ' these trolls are complete tools Happy Days Ukog United' is, in my opinion, idiotic.

My recollection is that the latest seismic data indicated no problem with compartmentalisation.

'. It's not a risk-free process. ... We can't be sure whether the shut-in well could be restarted successfully or if it could be restarted how productive it would be. My bet is it will eventually be P&D.'

Conjecture.

Yes, Littlened.
We have a two producing wells, but they interfere with one another, resulting in unstable production.
HUR have not said that either has failed.
Either can be used.
It's amazing that anyone can be thinking in terms of both being abandoned.
It just shows what an effective job the media and mass media have done to demoralise investors.

Yes, indeed, HI100.

TSD said many months ago that he wouldn't buy until the shares fell to 8p, apparently forgetting that he had previously said he was long and never said he had sold his shares.

He had previously alternated between insisting that the shares were a screaming sell and declaring that his broker had tipped him off that they were a screaming buy.

'SpotOn hold shares which can be sold at a moment's notice and they are really a gesture of good will...'

I disagree.

SpotOn has no intention of selling its stake.

On the contrary, BigLnt: I predicted that the correction would continue at 537p, when another poster said it was over.

That doesn't make me a genius, but it does mean that I was right.

Great.

As it's so obvious that UKOG is producing such large quantities of oil, is there a some special reason why they won't share with us the magic figures?

Is it just that they want the infuriate the 'Trolls'?

It's worse than that, MickVick.
With most posters, at least their posts are not always the same.
With Tymers, they are just a few words organized around catchphrases: 'Happy Days,' 'UKOG United,' and something about "Trolls,' such as 'Even Trolls have been panic buying'.
Every time I see 'UKOG United,' I want to throw up.

The correction continues - as I predicted.

Yes, indeed, DC.
I got it wrong.
It could be that average production for the year may not be very far below previous estimates.
If so, the current share price is all the more difficult to comprehend.

I recall HUR's RNS stating that the average production rate for 2020 will be significantly less than 18 kbopd.

That implies that they don't expect to be able to produce 18 kbopd again for some time.

Let's hope they are being conservative.

I would be interested to know the price level at which you first said that the only way is up, Tymers.
I have a feeling it was at multiples of the present price.

I think that the price is finally bottoming out and once the dilution is finally over, some good production figures (and I mean much more than 300 bopd) would lift the price.

I think people are, as ever, trying to rationalise the share price movements.

The market is not rational.

These shares were 64.5p on the eve of First Oil, when HUR had no income, hadn't yet even discovered oil at LC, and wasn't yet producing oil from even one well.
How do you explain that?

'Great to see another blue day for holders'

(Tymers, 17:04 yesterday)

That was on the strength of a rise of 0.005p yesterday, which has already been given back this morning.
This BB has long been a joke.

Don't be surprised by profit-taking and a correction before the next rise.

You finally decided HUR was too low to resist, DU?
I did tell you that the management there is on a par with those of JOG and SQZ.
Unfortunately, the share price performance has not been.

'Are you saying that we will be back to 35p by mid 2021?'

I'm not a clairvoyant and have no idea when the price will recover to 35p, but I think it will ultimately go back to the 60s, provided HUR can increase production and the oil price recovers.
If the oil price continues to recover, that will provide more cash to help production.
Provided FB really works and water cuts are not a problem - and so far there isn't any evidence to the contrary - it would require extraordinary mismanagement or bad luck to prevent the company from succeeding and the share price recovering.
People are talking about the share price collapse as if it is a definitive and final verdict.
Old timers like me remember the price falling from 50 to 8.85, rising to 67.5, collapsing to 24, and then rising to 64.5, before falling to 6p.
As I mentioned yesterday, PMO fell this year from 117 to 10 (although, curiously, posters noted that they were unable to buy at 10p), and is now 30.
It was 146p 18 months ago.
I don't think anyone can entirely justify these wild swings on grounds of company prospects or profitability.
Each time PMO collapses, we hear that it is going bust because of billions of dollars of debt.
Now we hear that HUR won't survive because of its bond issue.

I've just remembered - I think it was Delboi (not PS as I surmised a few days ago) who said he had found details about previous project(s) by SpotOn.
He then invited me to see discussion of it somewhere - possibly Twitter - but I couldn't because I'm not a member.
I can't imagine why he would invent a conversation with a Norwegian.
I am curious, though, as to what was said that suggested that the consortium has been assembled.

I agree with the comments made by JAdam and Tuan.

There are a lot of clever-dicks saying that HUR was obviously never worth anything like 65p, 35p or even 25p, and of course that we are all naive suckers who have been tricked into buying something that is obviously worthless.

Take a look at the share register: most of HUR's shares are in the hands of institutional investors.

Obviously, Richard Bernstein was a naive sucker when he topped up at 52p, declaring that the shares were 'cheap,' and even more naive when a few months ago, he bought 24 million more at about 14.5p, obviously thinking that if the shares were cheap at 52p, they must offer even better value at 14.5p.

Jamie Ashcroft, who has recently joined the 'HUR is trash' choir, said that a successful EPS would 'underpin' a share price in the 50s.

Apparently, he was one of many who were suffering from the same delusion as ours.
It afflicts private investors, institutional investors, analysts and journalists alike.

I would just mention some other stocks in which I am invested.
When PMO recently touched 10p (after having recently been above 100p), clever dicks were predicting that it would go bust.
It's now 30p.
TUI fell from 1812p to 218p, rallied to 360 and then slumped about three trading days ago to 250p.
Clever-dick posters declared that no-one would ever go on a cruise or plane again and that the company was finished.
One genius poster predicted a rights issue at 125p.
Today, it touched 628p.