Member Info for ocelot

Agreed, 2 at 16:21:56 at 0.1795 so that's a cancelled trade, leaves 2 x 27m.

and 2 more

27m buy x 2

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

50-day moving average has slipped again, to 0.204p.

+ $19.83, that's the highest in some time.

5.6m traded above the offer, at 0.1772p.

ZYX098,

The most likely explanation is that your post wasn't targeted at all, but was simply caught up in a thread which was removed.

Welcome back, Moneymunch, and here's hoping your return is a harbinger of better times ahead.

Ibug,

Well there's another post of yours and another of mine that have been deleted!

Happy Bastille Day everyone.

0.24p at the close on the Friday before the placing RNS. 7 trading days have passed since.

The placing is, in truth, positive news, removing a major uncertainty and providing the funding of UKOG's Basur-3 commitments.

Yes, it would have been better to have been able to get the placing away on the basis of a higher share price, but the market is the market.

Now we await news of the Basur-3 drill and, very soon, the start of the Loxley appeal inquiry.

Take a look at the open offer RNS of last Friday.

Global oil markets are set to “tighten significantly” unless the OPEC+ alliance resolves its standoff and agrees to increase production, the International Energy Agency warned.

Deadlocked by a dispute between Saudi Arabia and the United Arab Emirates, OPEC+ is set to keep output levels unchanged next month even as fuel consumption bounces back from the pandemic and summer driving demand peaks.

The group’s impasse threatens to inflict a “deepening supply deficit,” with “the potential for high fuel prices to stoke inflation and damage a fragile economic recovery,” the IEA said in its monthly report. Brent crude is trading close to a two-year high above $75 a barrel...

https://www.bloomberg.com/news/articles/2021-07-13/iea-warns-of-much-tighter-oil-market-unless-opec-boosts-supply?srnd=premium-europe&sref=Em01M8Hr

Can't see the detail of trades 53 and 54 yet, but they seem to total nearly 9m shares.

Ibug,

What is self-evident to me isn't self-evident to you, so be it.

The open offer is something that was imposed upon management by a certain percentage of shareholders who prevented the AGM's resolution 6 from obtaining the required 75% of votes cast.

The open offer is, therefore, doing what these shareholders wanted, enabling shareholders to buy new shares on the same terms as placees in the recent placing.

Do management want to raise more funds on the basis of the 0.18p of the placing?

Or would they prefer to see the share price rise to a higher level before raising more funds?

We don't know, they are simply doing as their shareholders instructed them to do.

Since 2019 the entire executive Board has been replaced, there is a new Director of Operations, a new Asset Manager across the Fields, a new Planning Officer, HSE Advisor, and EA Liaison officer. The entire technical team, bar one, is new...

From answer to Investor Question asked on 13/06/21

Opinion has slipped to an 8% Buy (from 24% BUY yesterday):

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

50-day moving average has also slipped, to 0.205p.

Off the top of my head, if the open offer produces another £1m they may consider that a relative success (imho).

It is also why UKOG raised £5m in the placing. They know full well they can't count on the open offer.

Terms will most definitely NOT be changed. Either the share price rises and 0.18p appears attractive or it doesn't, that is why the take-up of open offers can never be known in advance, it depends upon the evolution of the share price after the offer is opened.