Member Info for nhawan

The MM's tried dropping it after all the deramping on the weekend but it held up well. For the sp to drop more than 50% on a fundraise is very unlikely. Should hold above 1p until the RNS which could have some positive news rather than all negative.

BMD and a lot of shorters are posting all weekend because they want people to sell. If 0.5p happens then BMD has insider info which is illegal. They did not specify the fundraise reason so could be positive rather than negative. An increased share of HH or an acquisition is possible.

I think you'll find that once the fund raise is complete the sp will start to move up. It may drop a bit if the fund raise is lower but it will definitely start rising since the cash raised will ensure the company moves forward..

9th May 2017 ... RNS regarding press speculation RE fund raise 19th May 2017 placing of $6.5m @0.8p The sp never dropped below the placing price and was on an uptrend after the placing leading to a constant rise to 10p. Not saying it will go to 10p again but expect a decent recover soon.

SS needs to clarify why they need to raise funds when he said they were fully funded for the rest of the year. Either OGA required them to have a certain amount of cash available or there are some unforeseen costs which need to be met.

Maybe the OGA required them to rise funds. Someone soaking up the sells though. Easy to get a sell quote.

Since there are a number of companies that own a share of HH I don't think SS would have tried a scam with only 31% UKOG interest. It's more likely that the OGA is checking that all companies involved have the financial means to complete the project.

I've added some at this low price. The drop is obviously due to no news regarding HH EWT. As soon as there is a sniff of OGA approval or signs of life at HH the sp will be far higher than the current sp. Already looking like a bounce is coming.

UKOG will have to eventually change into an operating company to go into oil production. The cash generated from oil income is considered an operating activity. I expect them to file for the status change while the HH testing is in progress since there won't be much newsflow for a while.

This is why the sp did not drop like some were hoping for. The CPR is positive hence why the company is considering applying for a change in status from an investing company to an operator. The MM's tried to drop it but sp has strong support. Should start a rise now in th erun up to HH testing.

They did say that they will be drilling 2 wells in the north of BB which indicate "the deepest and most oil generative Kimmeridge section" in 2019 so not like they will be waiting nearly 5 years to explore. BB was a failure but the 2 new identified well locations are a result of their findings during the testing. Short term we have HH EWT to look forward to which should rerate the company and then the 2 new wells which could be the flagships next year. Only 6 months to go for 2019...

Many traders are selling this to take a punt on ANGS, etc this week. As soon as there is news here they'll come back as usual. Too bad SS is probably one of the worst CEO's I've seen so far. Totally keeps the investors in the dark unless he needs to raise the sp. Pretty poor show.

Funny how some don't think UKOG is worth investing in yet they are here to advise people constantly. The reality is that HH is scheduled for an EWT very soon and these people are trying to get a lower buy in price before it takes off. As mentioned in the AGM, things should start to move by end of May. Next week will be interesting and possibly too late for those sitting on the fence.

The moaners are only trying to get a low buy in price ;) No one in their right mind would be shorting it. Not many sellers at 1.4p so now is probably the best entry price before the move up.

Apparently they don't need a rig to perform the EWT so don't get too dispressed if no rig is sighted over the next couple of weeks. OGA approval should be here by next week when the site has been prepared.

If the previous OO of £1.45m shares resulted in dilution of over 2Billion shares surely a £10m placing is going to result in a massive issue of shares. Can anyone calify?

I think the placing at 80p shows some confidence but I suspect the sp will get down to the 65p area short term since there doesn't seem to be much posititve info in the RNS. Best to revisit this if and when they actually join Nasdaq.

Well that was a big spike down on hardly any volume. MM's looking for stops before the RNS?

This looks like it's going to recover before the results next week.

Not sure about any correction. Most of the brokers have given price targets less than 100p so either they are wildly wrong or the rise is based on hot air.