Member Info for oilboil

Story invested £1m for shares at 1p - so even if CLP does nothing else his holding is now £2.45m; so a decent return £1.45m profit for 5 days holding shares.

He has options for another 100m shares at 2p (so he could today exercise for 2p each and make another £450k if he sold straight away)

So whilst I don't think he has invested this money to just "churn" the shares, he might not be thinking this is a 20p share, I'm sure he's be happy at 6-8p (as would I having bought here years ago at 0.3p) - although if it wants to go to £1 I won't complain...

Purely mathematically based there were 22 RNS last calender year so 1.9 RNS a month

We have already had 4 this month. So statistically we are very unlikely to get an RNS tomorrow or friday, but then statistics are there to be proven wrong

Maybe it is the other party in the suit hedging their options.

If they settle they hand over cash, but this drives up the Share Price, if they hold shares, that is some of the money handed over immediately recouped

Well if there is something to say then I suspect it is quite high. But given the board have been sayign March for next news on the court case I suspect an RNS is on balance not going to be posted tomorrow

Of course none of us know everything that is happening so I could be wrong

LtdAxis - the highest paid for over 2 years is 2.95p

I don't want to have go into hospital to get my reward. If it is okay with you Jimmyjesus I'll rely on patience instead :)

Ocelot said - "They've just saved £550k by paying for the 2nd instalment in shares."

They could save at least that again by making Stevie Boyo's salary be tied to performance and results rather than just spunking out £650K a year (plus options that he never actions) on what can only be described as someone sleeping at the wheel

I also had (in fact still do some) UKOG.
I made a little profit on it - about 25% - would have made more but got stuck in the cement gate scandal!

Have bought back in (at a low amount) just to see what happens

Very nice uptick on a no-RNS day (at least not at time of writing)

I'd imagine whoever has these placing shares will have forward sold at least 50% of them. Why?

Simple... The price the placed at was 0.6p - if they forward sold half today they could get their whole £680K back as cash based on the current price and be holding the other 50% to see what happens.

I suspect they will probably have sold 65% of their shares forward though as this guarantees them at least a 12% return on their £680K cash regardless of what happens to the price after today

Technically nothing will happen to the share price tomorrow just because more shares are issued.

In reality though, the price tends to drop (in most markets CLP doesn't need to follow the common route) as the new entrant seeks to offload some shares to get their hands on actual cash (as pete mentioned the often forward sell these so the majority of this impact is already baked in)

The biggest issue is that the "liquidity" of the shares will increas (the number not held by single entities) menaing that there is more chance someone will want to sell meaning the MM doesn't need to push uup the price to find shares for those wishing to buy

Ultimately whatever yo convince yourself will happen, is probably the only outcome that won't be achieved

Market size is 150K - which isn't massive - this is why many trades goign to NT at the moment

The choice of cash or shares is UKOG's not PW Well Test's

I'd often heard tell of the myth that shares can rise on a placing RNS but I'd never actually seen it happen until today.

Here's hoping the good news continues

But 500% of your pocket money of 50p is still basically nothing

Come back when you've grown out of school uniform shorts

They had no choice Penny Rivers had a big motion she wants to move. I didn't want to see that on my screen

True - last time around they were fighting to be the seconder

Penny Rivers wishes to move a motion - surely she can wait until the next toilet break!

They actually don't....
The planing officers in the room do as does the highway guy.

The others are local councillors, no payment for local councillors, they'd get expenses if they needed to travel to the meeting but they haven't needed to this time

https://surreycc.public-i.tv/core/portal/webcast_interactive/515802