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At this rate, one of the overhangs will be extinct in no time at all.

Had thought the selling pressure was easing off, but one of the overhangs reduced by at least 100m shares today.

Close at 0.22p.
Closing auction of 818,012 shares.

advfn currently shows day's volume as 227.7m shares.

Price monitoring extension.

and 23.5m across 2 trades just after 4.30pm - big volume day.

Different times, so does look like 2 different trades.

per advfn.

That'll need checking, maybe just the one trade (advfn isn't able to cope with negative trades).

essential for a revival of the property market

https://www.bbc.co.uk/news/uk-52641373

It cannot be said that the share price has gained much altitude from Canaccord's arrival, so, in theory, a decrease in their holding shouldn't have much of an effect either (not that I am expecting it).

The news about HH2 can be good and not bad.

Think the lower recent volumes indicate the selling pressure is easing off.

In turn, the realisation that talk of a "death spiral" has been way overdone should encourage buying for the rebound in the share price.

But the "dribble of oil" may prove enough to cover operating costs and more.

From the BBC's coronavirus live reporting at 18:48:

These are the all-important new legal rules for the lockdown in England...

From midnight tonight you can:

... The new regulation confirms that garden centres can open - and that people can visit estate agents and view homes they want to buy or rent.

That will help to revive the economy.

From the BBC's coronavirus live reporting at 18:48:

These are the all-important new legal rules for the lockdown in England.

They are written in Parliamentary legal language so can be hard to read. But here are the most important parts.

From midnight tonight you can:

... The new regulation confirms that garden centres can open - and that people can visit estate agents and view homes they want to buy or rent.

GL's made it clear they are going to fight for Balcombe, so they think it is worth the effort.

Think he spoke of getting the revised application in within about 6 weeks, so that could mean the 2nd half of June.

It's worded differently from the previous RNS because they changed the nominal value of the shares at the AGM, so are now in a position to issue shares below 0.10p (the nominal value is now 0.01p).

Thanks, Lennie.
The previous conversion related to the "commencement fee" of 30m shares.
This is, therefore, the first conversion of a standard nature.
But you are right, the key text is the following:

In the event that, upon exercise of any conversion rights, the Conversion Price would have been less than the par value of the Shares at the time of such exercise, the Company shall make an additional issuance of Shares to the Investor to make up the difference in value that the Investor would otherwise have lost.

0.04p is a very round figure, so it's certainly not "(a) the average of five daily volume-weighted average prices ("VWAP") of the Shares on AIM during a specified period preceding the relevant conversion ("Conversion Price A")".

Under the Deed, as a result of this notice of exercise 142,500,000 ordinary shares (the "Conversion Shares") fall to be issued at a conversion price of 0.04p in accordance with the terms of the Deed.

Can anybody explain how they arrive at the conversion price? (the original RNS was dated 24/02/20).

Riverfort has 16 months in which to convert its loan. Doubtless, both parties would like to clear the loan well before the final deadline, but there is no contractual obligation on Riverfort to act in a hurry.
On the ground, in terms of producing comfortable flows, UKOG has never been so well-placed.
Coronavirus restrictions are beginning to ease.
The next few weeks should see progress being made.

Thank you for that, Mirasol, and I hope you are right!

Wherever the truth lies, there can be little doubt that UKOG's results will benefit from an eventual rise in the price of oil.