Member Info for oilriches

What was the market cap when this was 1p with the shares in issue at the time?

You gotta question the nomad / broker too

The problem we have is the ceo. He is not motivated or incentivised by a share price.

Ohmetoe. I do think there is a good opportunity on the turkey drill to make 100% profit but only the brave would hold for any drill results. Ukog is really attractive from a liquidity perspective on turkey

Just be. The funding won’t be secured until farm out approval by the government. There is some price moving events before then. As said long term this is not an investment, particularly with SS at the helm. Ukog will still have a few million in the bank. The only real bonus here is the liquidity of the stock....I think the overhang from the previous placing in June is pretty much gone. I.e everyone that wanted to sell is out at these levels (in general). Plenty new buyers starting to take positions.

To be honest aim is not a place for long term investment. I tried it in 2017 and by 2019 I had lost £100k. I held that stock in the hope of a recovery and more and more dilution came. It got to the point I needed an 8 bagger to break even.....I got a total spanking. I do plan long term holdings on the ftse but waiting to see what happens with COVID-19 in October and the us elections. For LTH the best way to get some losses back is move out the stock (there is no certainty the next stock won’t fall), average down or trade it. I am not trading this but sell down if it goes into the 0.3s. Again there is no certainty on anything

Mirasol. I certainly am not trying to mug anybody off tbh. I do see a short term rise and it’s another question if it actually happens. This is not a long term investment for me but a speculative one in the short term. The long term holders need to accept an investment can go up or down and only invest what u are prepared to lose. I could be wrong about the short term and could be locked in. However liquidity and interest says otherwise but I don’t know how high it will go

Skwizz. Not interested in engagement long term holders. The long term holders with averages over 1p are very unlikely to see that again.some of them on here should just sell / bail and get on with life and be happy

This is why the price is rising....must watch. Buying demand, interest, speculation and near term news. See interest in UKOG in the short term.
https://m.youtube.com/watch?v=wfggTp5sF6A

Investor1710. Looks that way tbh. Expect it to be over 0.25 next week, then it’s anyone’s guess

It’s all about risk and drilling the well before June next year. Our JV partner won’t have access to equity markets. A lot hedges on the success of the first well tbh

Penguins - these wells are up to 8 years old and have not had money spent to enhance production. I assume you are aware of natural decline rates etc. It’s worth checking the rates they came onto production. Also theses wells are some way of Ukog licence. Notwithstanding this oil exploration is a gamble

Wizard. I was responding to 2p shareprice on successful drills and 1000bopd in turkey. If all wells were successful that’s 50mmbbl net to Ukog, hence my valuation under 1p. As things stand I think fair value is 0.3 to 0.40 but news needs to drill the price

In addition to this Ukog already have EA sign off. There is no merit in the rejection and all bodies (including statutory) have signed it of from an environment, highway and planning perspective. Legally the rejection cannot legally stand if Ukog want the consent from Surrey CC. These are the facts

What a load of rubbish. Legally you need to have grounds to object to the application. They cannot use the argument on highway and traffic as the highway and planning officer have already approved this. If this went to appeal it would be overturned and they know it

https://twitter.com/stockbible/status/1293659056863875073?s=21

That’s makes no sense Andy. Regardless of the amount of shares volume value is nearly always over £100k

Skwizz. The past is the past and normally an indication of future behaviour. However short term there appear to be a catalyst.....all said and done there is still plenty of liquidity in this share

Nuts I also believe now is a very good price to buy.....who knows where the sp will end up though

I think that existing Ukog holders are forgetting that any future fundraiser is going to be spent in the ground....people are holding onto the last abysmal 18months. Company now debt free and any overhang looks to be clearing