Member Info for ocelot

Or alternatively, of course, your holding is a tiny one of, say, 1 share.

Simply no point selling.
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So you agree you are deep under water.

"To me the incompetence is verging on criminal……." and yet you remain a holder of Angus, WG818!

Of course, if you are deep under water, an alternative approach would be to average down, but that is a decision for each individual investor to take and has nothing to do with me.

WG818,

I have nothing to do whatsoever with Angus pre-GL. If you are holding from the 30ps, then of course you a deep under water and that would explain why you show no interest in seeing Angus gain altitude.

I do hold Angus ...
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In which case, WG818, you are presumably so deep under water you've lost interest in your holding.

Are Angus negotiating with an end user on the Continent, where gas are higher, to SELL all output fromSFB via the Interconnector from Bacton UK to Zeebrugge Belgium ??

In fact, thinking about it, one wonders what prompted the apparent change of approach in the week between the operational update of 20/07 and the small-ish placing of 27/07?

The operational update RNS of 20/07 stated that "The Company will, therefore, need to seek further finance before mid Q4 2022 to fund this planned programme and for general working capital purposes".

Consequently, the small-ish placing of £1.25m of 27/07, just a week later, came as a surprise.

Don't doubt the money has been raised to finance the additional seismic in Basur but think, too, they have created/preserved a cushion for the next few months

Yes, from 12:25 including 5m at 1.40p.

Adrian has tweeted as follows 45 mins ago:

like I said there has been a lot of work recently at #Horsehill.

So what you are saying is that any LTL who holds shares above 1.3p has had the shirt ripped off his back, ...
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Your observation, Ibug, is that of a negative commentator looking back to past highs.

A more optimistic commentator might compare 1.3p with the current share price of 0.0925p.

... I'm still not sure it would reach 1.3p even on hype now.
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You are more bullish than I had appreciated, Ibug.

We note that we are the only onshore combined extraction and gas processing facility connected to the transmission system to have been constructed in decades and we had few parallels to follow outside of the refineries themselves.

This is where the company is to be congratulated for their initiative and entrepreneurial spirit.

re 4) :-)

When are you next planning to wash you car, HeresHopin? :-)

7/8p is being too ambitious, imho, because it would mean a market cap of between about £1.24bn and £1.41bn.

UKOG's portfolio contains 2 projects of this magnitude or more but they are a long way from completion (both in terms of work and of time), so any net present value calculation would have to be reduced to take account of those years of discounting.

If we limit ourselves to what we know the share price has achieved in the past, then, in 2017, it multiplied by 13.75 times between 0.80p and 11p (and this, within a few months).

A similar rise applied to today's share price would take us to about 1.3p.

There are many naysayers on this board, some of whom have been here for ages.

Those who were negative at 0.80p in mid-2017 were quite obviously completely wrong for about 2 1/2 years during the time the share price rose to 11p and returned to 0.80p.

For the last 2 1/2 years, they have been proven right. But that is with the benefit of hindsight.

How many of them at the time foresaw the extent of the water cut at HH-2z and the problem with the drill at Basur-3?

There has been a lot of luck involved (good for the naysayers, bad for UKOG). That can change.

1/ the interest of the Bouygues family in 2017 and the share price rise from 0.80p to 11p at the brief peak;
2/ that it would take 2 1/2 years for the share price to return to 0.80p from the 11p peak;
3/ that BB would prove non-commercial;
4/ the extent of the water cut at HH-2z;
5/ the problem with the drill at Basur-3.
In the last few years, the negative surprises have outweighed the positive surprises, there are reasons it is called "exploration" and not "extraction".
Who can foresee what the next surprise will be and whether it will be positive or negative?

Just to spell out in different words the meaning of my posts of 13:04, 13:08 and 13:11:

it can be seen that the hedge provider took nothing for granted and waited upon delivery of first gas.