"Basically give investors the information they need to start to assess the value of the company"
Agreed - but NOT WELL RATES - we need total forecast PRODUCTION TOTALS - Angus pulled the wool over everyone's eyes at Brockham using rates. AS you see Penguins - they have the numbers in the FDP - it doesn't take any work to share them. Then we can judge if people deserve bonuses or not next year.
We've never had any explanation about why the French rushed in and then rushed out.
I think, over the last few years, UKOG's biggest error was going 100% (or as near as they can get) on these licences. It's Oil exploration 1.01 to spread your risk and use OPM - Other People's Money. Egdon have this down to a fine art.
I'd guess SS would say he was stuck with a real bunch of no-hopers as partners to start with - and he'd be correct - but I can't believe there wasn't the opportunity to get in other outfits. Given the 3 Wise Monkeys on the Board along with SS I'd guess he aimed for total control.
The other problem has been the slavish dependence on YA & Riverfort for funds - perhaps less spending and less borrowing might have kept us in a happier position?
"At Horse Hill at the moment, something is afoot They are preparing the site, could be this weekend or early next week! Could this be the start of the work to co-mingle HH1 Portland and Kim, or HH2z interventions, or both!!"
Sounds probable - start the work early next week - they won't do both together for obvious reasons - probably 7-10 days for each piece of work
"A local action group has taken all UKOG’s facts and figures and poses the question ‘Why is UKOG is bothering to drill at Arreton at all?’ Their conclusion is that it makes little commercial sense and asserts UKOG’s principal activity is to attract investors’ cash to pay UKOG’s staff - especially the CEO."
Complete waste of time - nothing in planning law allows the Council to take into account any financial issues at all. The OGA & Treasury have legal oversight over O&G companies finances- not some Councillors in hicksville. They'd be sued from here to Wressle - £ 400 k that cost the ratepayers.