Member Info for ocelot

What Rodders Jones needs is for his supporters to buy more stock and increase their positions in UKOG!

I wouldn't say that Rodders Jones has been disavowed, because a figure of nearly 5% of shareholders is not a negligible figure.

But, in terms of being able to carry the day at a general meeting, it is an insufficient base with which to work.

cyan2,

They need 5% to call a GM, but they have accepted advice to garner 10% before taking things any further, because there is very little point in calling a meeting if you don't have the votes to carry your resolutions at that meeting.

Ibug,

Personally, confident.

Rodders Jones's supporters are supporters of the resolutions he proposes to put to a GM and have nothing at all to do with the 2 resolutions of this Monday's GM which concern the manner of raising funds for, above all, Turkey.

PS: we can see that, even if Rodders Jones achieves 5%, there is no way in which his resolutions would pass at the subsequent GM.

Hence, of course, the advice to aim for 10% before attempting to take things any further.

In some ways, Rodders Jones has rendered us all a service, he has shown us all the percentage of capital (a bit under 5% at the present time) prepared to sign up to his resolutions. That leaves a bit over 95% which has not signed up.

So we now know that this board (and the same holds true for rampers as well as derampers) is not representative of UKOG's shareholders, the silent majority of shareholders are not on this board.

It required a chunk of capital for the AGM's resolution 6 to be withdrawn. That chunk, held by shareholder rights activists, is not reflected on this board.

GBP5.84 million has currently been drawn down with the balance to be drawn over the coming weeks against invoices in line with the Field Development Plan and the Plans for the acceleration of production through the fast-tracking of the side-track well. (yesterday's RNS)

Re Lidsey: GL said yesterday that "if we get anywhere near a decent fraction of that OIP (9m barrels) the value to the company could be £60m - £70m ...". The undervaluation of the company could be "by a factor of many, many times" on that count alone;

Re geothermal, he spoke of £200m-£300m of revenue streams in the long term.

Better trade there: 16.234m+ at 0.213p.

.

I'm not sure any of us are writing page-turners, Penguins.

There are 2 different things at work:
1/ Rodders Jones and his site:
2/ shareholder activism responsible for the withdrawal of resolution 6 at the AGM.
Management has listened to 2/ hence the upcoming GM and resolutions proposing a placing AND an open offer.

It's slipped back to a 48% BUY today (72% BUY yesterday).

There was no hint on this board of the shareholder activism which led to the withdrawal of the AGM's resolution 6.

Rampers and derampers are active on this board but the shareholder activists were elsewhere.

You yourself wrote of shareholder activism: UKOG have listened and come back with resolutions allowing a placing AND an open offer.

You criticise them for announcing a director buying programme now. Someone less critical might recognise that they are making an effort to listen.

cyan2, there's nothing unusual about UKOG's warning given that resolution 6 re the disapplication of pre-emption rights was withdrawn at the AGM.

They also desperately need to encourage possible participants in yet another fund raise ...
--------------------
A bit melodramatic, cyan2, given that the fundraise will be principally for Turkey and likely to attract funds without much of a problem, I would have thought.

I've no idea what the market cap peaked at under the previous regime, but I think ANGS will, over time, exceed it under the new regime.

Imho, they are applying long-term thinking to create something which will be profitable, solid and of quality.

But, by definition, it won't be for gung-ho PIs looking for immediate thrills.

Angus has delivered on the most time-consuming element of Saltfleetby, the debt facility.

The share price may be hanging back, but the company itself is progressing and, in all likelihood, the rate of progress is about to increase markedly.

a "greatly undervalued AIM-listed company".