Member Info for nomlungu

DavidWK,

The £800k refers to the nominal value of the ordinary shares which is 0.01p

https://www.londonstockexchange.com/stock/UKOG/uk-oil-gas-plc/company-page

'All UKOG are doing are responding to the AGM,'

No - if management had wanted to respond to the views from the AGM they could have attempted to place the 3 billion shares with existing shareholders.

Instead, they are now proposing the authority to issue 8 billion shares, more than double the original 3 billion share approved to be issued. Are they in a hurry to get a large amount raised before any results from Turkey? Are they worried that results from Turkey will be underwhelming?

And, what happened to reserve based lending that was going to lessen dilution when there were under 6 billion shares in issue?

'Cash raise / open offer likely to be in the region of £10m then'

8 billion @ 0.125p = £10 billion

That might be about right as the share price might tank on Monday as the market reacts to the sheer number of shares to be issued and then the shares are offered at a discount to whatever the share price has sunk to.

This may get very ugly.

Evi,

This might appeal to you:

https://mega65.org/

Electric truck = great; have a 3 tonne electric vehicle hit your small petrol or diesel car = disaster.

Drive a 3 tonne vehicle over the UK's 'pristine' roads = even worse condition. I had not really thought about the implications of the extra weight.

https://slate.com/business/2021/05/ford-f150-lightning-electric-weight.html

Some might be more interested in the setting aside of the authority to issue 3 billion new shares and replacing it with authority to issue 8 billion more shares. In a little over 2 years UKOG may have gone from under 6 billion shares in issue to 21 billion shares in issue.

In June 2019 an RNS stated:

'It is envisaged that Reserves-based debt funding, along with healthy cash-flows will lessen the requirement for further equity raises via share issues to fund our future drilling programme.'

That went well...

Like a bad crypto coin there seems to be no limit to the number of shares that can be issued. The Dear Leader is only asking for another 60% more shares.

Resolution 1 – Directors’ Authority to Allot Shares
This is an ordinary resolution to grant the Directors with authority to allot and issue shares and
grant rights to subscribe for shares in the Company for the purposes of Section 551 of the Act
up to the maximum aggregate nominal amount of £800,000. This Resolution replaces any
existing authorities to issue shares in the Company and the authority under this Resolution
will expire at the conclusion of the next annual general meeting of the Company.

If they do it in the US, expect the same system to roll out here... And there is no bar to private prosecutions other than the costs. A rich neighbourhood could aggressively prosecute crimes in their neighbourhood and drive crime into poorer areas whilst taking up a disproportionately large amount of Court time and resources that are subsidised by the many.

https://www.vice.com/en/article/v7evbx/citizen-app-private-security-leaked-emails

I do not see the current GOV taking quick action to stop the proliferation of such services, and it would be unpopular with their electoral base to ban them if they were effective.

Jonathansxx,

OCT461201 is their lead [only?] compound. It is still pre-clinical. Getting into and through Phase 1 and Phase 2 trials is likely to take several years. Whilst I have no idea the direction the share price might take I do know that it is likely to take much longer to get to a Phase 3 trial than 'a few months'. Investor sentiment is likely to be key and the inauspicious launch day may have dampened enthusiasm for a while.

'Through its agreements with external CROs, the Group is continuing the pre-clinical testing and development of OCT461201, which will be followed by Phase 1 clinical trials, for IBS and post herpetic neuralgia as primary indications and an undisclosed neuropathic pain condition as a secondary indication.'

https://www.oxcantech.com/OCT461201

Shame the share price is down 2.27% since last week's close of 0.22p.

Interesting list of placings and dates.

Since 26/3/19 UKOG has raised £18.8m in placings and loans; prior to the March 2019 raise there were 5.7 billion shares in issue and the shares were trading at 1.2p giving a m/cap of £68.5m.

So, following 6 loans / placings of £18.8m the share price has decreased by over 80%, the m/cap has decreased by £40m and the number of shares in issue to share out any profits has increased by 128% to 13 billion.

Somehow ocelot attempts to spin the gap since the last placing as positive; the cynic looks at the figures I have posted and wonders why it has taken so long for someone to try to organise shareholder action to remove The Dear Leader.

To raise £18.8m and end up decreasing market capitalisation by nearly £41m has destroyed nearly £60m in shareholder value in just over 2 years. A remarkable achievement.

It is a congested market where many will get burnt. This IPO seems late to the market so others will be much further down the road to success and market dominance. As legalisation grows more are likely to self-medicate rather than pay high prices to big business. The Autoflower Network is an interesting resource if you need help for a sickly relative.

https://www.autoflower.net/forums/

https://www.autoflower.net/forums/forums/medical-cannabis-discussion/

He likes riding rollercoasters... they make me dizzy.

Amigo - greedy gamblers trying to make money off the scraps of a bankrupt company whose model was shafting the poor end up getting shafted themselves.

#schadenfreude

Man Who Got the First Fecal Transplant to Cure Melanoma Shares His Surprising Experience

https://leaps.org/melanoma-cancer/particle-1

'The proposed bill aims to provide a legal framework to address illegal and harmful content online. This focus on “not illegal, but harmful” content is at the centre of our concerns - it puts responsibility on organisations themselves to arbitrarily decide what might be harmful, without any legal backing. The bill itself does not actually provide a definition of harmful, instead relying on service providers to assess and decide on this. This requirement to identify what is “likely to be harmful” applies to all users, children and adults. Our question here is - would you trust a service provider to decide what might be harmful to you and your children, with zero input from you as a user?

...

As uncomfortable as it may be, one man’s terrorist is another man’s freedom fighter, and different jurisdictions have different laws - and it’s not up to the Matrix.org Foundation to play God and adjudicate.'

https://matrix.org/blog/2021/05/19/how-the-u-ks-online-safety-bill-threatens-matrix

'1 share is usually an indication of RNS logged !!!!!'

Around 650 trades of 1 share today across the market - going to be busy with RNSs tomorrow.

https://bit.ly/3wibAKv

I can hear the CONservative arguments already:

The parents are evil slackers who should be sanctioned [cut their benefits that they are wastefully spending on drugs in the local massage parlours];

The Councils are to blame; especially Labour Councils as that is where the most deprivation is [lets ignore Labour having more representation is poorer areas and agree to pay some CONservative Councils more money as part of the Levelling Up agenda];

Labour are just trying to score political points whilst refusing to acknowledge the GOV success with the vaccinations and refusing to deal with anti-semitism whilst praising Palestinian terrorists [a regular talking point];

Spending any more money on wasteful Labour councils means there is less money left for the NHS Heros who have worked so hard and [for double points] who Labour wanted to pay an unaffordable 12% increase [Labour refused to say how much they would increase pay by; the NHS is run down because of GOV incompetence in the early stages of the Virus and a decade of under investment]

PageofCups,

The RNS states that 750,289,637 shares are being issued as part of the Open Offer - at 0.35p a share that raises £2.63m. It also states that the agents will seek 'to place the balance of Open Offer shares'. These shares have yet to be placed so they have yet to raise the minimum of £5m, have they?

Why not add that shares can currently be bought on the open market cheaper than the Placing that the Broker and Placing Agent are trying to get away? Not many take part in placings a premium to the current price that any share trades at.