Member Info for ocelot

Note that, despite the very heavy volumes of a while back, there has been no TR-1 from anyone.

Canaccord remain invested with their 5%+ stake acquired at 0.20p.

My impression is that UKOG's reputation amongst some City funding sources is higher than its share price performance would suggest.
Suspect that SS already knows he can raise additional funds should he require them.

Re-reading the extract from the 30/06 RNS in my post of 16:00 raises the question:

is the Turkish project part of an ongoing bigger shift in UKOG's focus?

Just a reminder of the hint SS provided about Turkey in the Interim Results RNS of 30/06 - it wasn't easy to decipher!

We continue to actively pursue and evaluate new opportunities, both home and abroad, to add near term production revenues for the Company and we will be operating prudently and creatively to enable UKOG to perform at an optimum level.

Agreed, Phil7390, nobody saw the Turkish deal coming, SS does run a very tight ship.

But, as you say, this initiative does allow one to identify the true trolls, those who are negative re everything UKOG does.

I've been adding to my filter list recently.

The "positives" can be found in the speed of the payback, just 3 months to recover all of the capital outlay on a well.

That's when the growth rate begins to compound, hopefully!

Don't think it's a random choice at all, think it's a choice motivated by the need to generate cash, to "monetise quickly".

In neighbouring Iraqi Kurdistan, Genel has been able to recoup all of its capital outlay on some of its wells in just 3 months - that is a phenomenally quick payback and provides a stark contrast with UK onshore oil exploration and production.

2. Like ANGS, UKOG are seeking to generate cash.

They are not abandoning the Weald, but the Turkish project offers the prospect of "quick monetisation", ie rapid paybacks on investment which are excluded by UK's regulatory regime.

1/ serious newspapers don't seek to cover all of the market;

2/ early days;

3/ need to name the rampers in question so that we all know who is being addressed.

And I'm delighted to see that SS is seeking to accelerate UKOG's development and think it is enterprising of him to participate in this Turkish project.

... But the direction of travel is the same. “It is only a matter of time” until gold reaches a record high, Citigroup Inc. analysts said in a report this week. Gold bugs can rejoice that the smart money of sovereign funds and central banks is with them ...

https://www.bloomberg.com/opinion/articles/2020-07-24/sovereign-wealth-funds-favor-gold-over-stocks?cmpid=BBD072420_CEU&utm_medium=email&utm_source=newsletter&utm_term=200724&utm_campaign=closeeurope&sref=Em01M8Hr

That hadn't occurred to me, that Turkish investors might take an interest in UKOG because of its Turkish project.

But, obviously, as a private company, they can't take a holding in UKOG's partner.

There is some substantial Turkish wealth invested in Genel.

In fairness to Penguins, I rather liked his post of 13:15, that's about as close to a positive post on UKOG from him that I can remember.

Cash repayment of Riverfort loan this month

And, say, the 6-month chart?

PPS: not trying to plug Genel, but, although, at the present time, there are some payment delays with the KRG, the regional government, it is otherwise a cash-generating machine.

Don't think they will have any problem raising cash.

But what one does want to see is cash being raised on the back of a rising share price!

PS: SS's equivalent phrase is "quick monetisation"

Have followed Genel closely for a good, long time: they operate over the border in Iraqi Kurdistan.

The phrase employed by their CEO, Bill Higgs, is "velocity of capital" to describe the rapidity of paybacks in the region (within 3 months for some wells).

I am sure this is one of the factors behind SS's decision to participate in the Turkish project.