Member Info for ocelot

Good point, nomlungu.

Wishing you a Happy Easter!

Rollinginit,

Costs of the first well and the seismic, both of which are 100% UKOG's to finance, are capped at $5m.

The £2.2m placing was to fund the "initial" drilling and seismic costs, the balance remains to be funded.

Wishing you a Happy Easter!

Wishing you a Happy Easter!

Because of UKOG's protracted under-performance, its moving averages are squashed close together: the 50-day is at 0.128p, the 200-day is only a little higher, at 0.167p.

If and when UKOG rises above the 200-day marker of 0.167p, it will have broken free from its recent past and the narrative around UKOG will change: PIs will begin to ask "how high can it go?".

There will be a new placing, yes.

What we don't know is precisely when, at what price or for how much.

Personally, I think this placing may prove to be more of an opportunity for those who participate in it than a problem for UKOG, because it will be to fund Turkey, where it does appear that things are moving ahead really quite quickly now.

Fully agree, Rollinginit.

It may have been on Thursday they tweeted some photos from Turkey, it is clear AME on pushing ahead at speed ... and there won't be an Easter break in Turkey!

Understand your position, Ninetails.

The volume of the last 3 trading days means I've become much more than a glass half full investor, I think the upside potential for the share is now substantial, if it can break through and hold above the 200-day moving average of 0.167p.

Above that level, the graph shows there may be upside up to about 1.10p.

UKOG has no financial debt, it's only significant liability is the 3rd payment of £550k due to PW Well Test Ltd in a few months' time, so, no, there is no likelihood it will go bust.

I wish you well, too, in your work and in your investments.

That's fine, Ninetails, we all have our own opinions.

serious investors will want more than UKOG saying Turkey 'could be' transformational and some titbits about OIP and rule of thumb recoveries to hold on to the shares.
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Penguins,

Serious investors will also take account of the current share price and form an opinion concerning the extent to which the company's prospects are reflected in that price.

Indeed, given UKOG's current lowly share price, the next fundraise could offer quite an exciting opportunity for a stake to be taken in the share capital.

Because of Turkey, I am not anticipating any problem with the next fundraise.

Perhaps, too, because of Turkey, investors will subscribe with a longer-term perspective than on some occasions in the past.

Investors will buy the next shares issued for funding, nomlungu, and since the next placing will be to fund Turkey, it is unlikely to pose any problem.

The more interesting questions are:

1/ at what price?
and
2/ how much?

Current price: 0.135p
Historic low: 0.105p
If the 200-day moving average of 0.167p is truly broken, then the graph suggests there is room for a big percentage upswing, up to, say, about 1.10p.

Interesting map of "our operations", conveys an impression of the size of Greenland.

Re my post of 10:16 of yesterday:

PPPS: ie, the risk/reward ratio looks to have turned very much in favour of investors in UKOG

I was referring to the risk/reward ratio offered to investors by UKOG's share at its current price.

Thank you for your post, Funksoulbrother, and best wishes.

For myself, the market is not the place for dogmatic statements because of all the variables.

For myself, the encouragement comes from the fact of the last 3 days' trading volume.

If UKOG can break through, and hold above, the 200-day moving average of 0.167p, then I think we could be looking at a substantial multi-bagger, because the graph shows the price coming down in just about an uninterrupted straight line from about 1.10p.

If anything like this was to happen, then, because of the increase in UKOG's market cap, the funding of Turkey would cease to be a problem and, indeed, UKOG might be able to accelerate its plans for HH as well.

That could lead to a virtuous circle: increase in share price > increase in development on the ground > increase in share price.

I am thinking of shifting my opinion from "buy" to "strong buy" and am waiting to see the 200-day moving average truly broken before doing so.

Rollinginit,

Yes, I'm surprised, but many thanks for the information.

Volume during the last 3 days totalled about 2,300m shares, ie about 17.8% of total issued capital.

That should have significantly lightened the load of loose holders weighing down on the share price.