In the last 7 days, the trading volume has exceeded 10 billion, and the stock cost of all holding investors is above 0.30p. Today when the stock price fell to 0.21p, it was strongly supported, with a trading volume of 300 million shares. All signs indicate that mms has not left. I feel that mms has reached some kind of tacit agreement with the ukog management. Ukog holds a 25-year production license and has oil production wells and oil wells to be drilled, so the price below 0.3p should be too low. Ukog's stock price should be above 0.5p.
“ UKOG (London AIM: UKOG) is pleased to announce that it has received warrant exercise notices to subscribe for a total of 129,375,000 new ordinary shares in the Company at an exercise price of 0.2 pence per share (the "New Ordinary Shares").
Application has been made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 01 July 2020.”
The rejection of the plan is good news. Because, if this plan is approved, then ukog will use the stock to raise funds, the stock will be further diluted. In fact, the increase in Ukog's stock price does not depend on whether the plan is approved, but on the flow rates of HH-1 and HH2z.
Why did the ukog Official Twitter account tweete "BLUE SKIES at Horse Hill as UNICO LRP continues to pump away" at 1:00 pm today? At this point in time, the stock price is declining. After ukog tweeted, the stock price started to rise. And this Twitter has no substantive content, it seems to imply that something good will happen.
Because Ukog has a 25-year production license, the company has a promising future. The current oil price and the company's share price are very low. For rich investors, this is a good investment project.