Member Info for ocelot

My guess is that the MMs operate on the basis of the fluctuating demand for, and supply of, UKOG shares.

On the positive side, as GL has indicated, it all helps to reduce the price of kit at the present time.

https://www.erce.energy/graph/uk-natural-gas-futures-curve

Looks as if we're heading for bigger volume than on Friday - I wasn't expecting that.

MS Galleon AG up to 6.7924% from 5.021%.

Make that within the next month and I'd agree :-)

To suggest Canaccord will take 10% of UKOG is pure speculation.

Let's wait and see if one (or more) TR-1(s) are published in the days to come.

" Cannacord investing". Nope. The RNS stated Cannacord on behalf of "DISCRETIONARY CLIENTS". Different thing altogether, not an institutional investor. Basically just a nominee account... Yet more retail.
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Nope, they are acting as an II in that they are investing on behalf of their clients, nothing to do with the nominee accounts through which PIs deal.

Insidious, it is clear:

The Loan Note outstanding balance of GBP1.75 million will be repaid via the mechanism outlined in the Company's announcements of 27 September 2019 and 12 February 2020 with an early redemption premium of GBP175,000.

THEIR site!

From answer to Investor Question asked on 19/11/19 (for the question and more of the answer, see Investor Questions on thier site):

... Horse Hill, which has a vertical well, has been flowing oil from the Kimmeridge at rates of 200 – 300 BOPD and being very conservative we would expect to match this. Given, as you correctly note, this well is a long lateral, one might expect rates to be 2 – 3 times higher than that of a vertical well and so we would certainly want to exceed the 300 BOPD rate, however, until we test the well we simply do not know for certain how the reservoir will perform. We want shareholders to have understanding of our reasonable expectations but would also, as a company, prefer to surprise on the upside rather than overpromise and underdeliver.

Little is for free in this world!

Overall asset level opex now reduces to approximately $13/bbl at current production rates, amongst the lowest in the UK oil sector.

Next week should be interesting, once the market settles down after the placing RNS:

no more Riverfort overhang, for the first time in 9 long months!

There's no reason at all that he should accept his remuneration be paid in shares valued at a 94% premium above their market price, but this is what he agreed to do during the last year.

There's no reason at all that he should accept his remuneration be paid in shares valued at a 94% above their market price, but this is what he agreed to do during the last year.

I find it interesting that Canaccord bought in during a small fund raise.

They would have been fully aware of the likelihood of UKOG coming back to the market for more funds in the near-ish future, but they nevertheless chose to participate in the first raise at 0.20p.

What I think may happen is that the City progressively buys in.

If that was to happen and the City buys from PIs at anywhere near current share price levels, then it would be a classic, PIs selling low and the City buying cheap.

Furthermore, we announce that, following discussions with the Board, Paddy Clanwilliam, Chairman, has agreed with the Company to have his first year's remuneration as non-executive Chairman paid in shares priced at 3 pence, a premium of approximately 94% to the closing price on 16 July 2019. Accordingly the Company has issued a total of 2,000,000 ordinary shares which will be subject to a 1 year lock in period. (RNS of 17/07/19)

So the share price was 1.55p at the time.

correction: on reflection, think the share price may have been above 1.50 but below 2.00p at the time.