Ninetails: I was surprised at the length of Backinthis’s sentence. It went on and on, didn’t it? If I could have made sense of it, I’d have thought he’d done A level Latin, for which the ability to write paragraph-long sentences used to be a prerequisite.
Ocelot: subtlety is your stock in trade, not mine. And I aim at objectivity: no one has argued successfully with the research I have posted on here or elsewhere, as far as I can recall, though I have met with some very unsubtle remarks from some posters who I’d be prepared to bet walk with their knuckles grazing the ground.
Skwizz: a very full description. It’s a practice that’s best avoided, unless you can honestly say to yourself that you’d buy the shares today if you didn't already have a holding in them. Bravado, desperation, spiritualist beliefs are often the explanation for people doing it.
Averaging down doesn't reduce a loss, it increases it if the price keeps falling. Investors should ask themselves before they do it “if I didn’t already hold this dog, would I be starting to invest in it now?”.
Ocelot: “I don’t think some of the detractors can give it a rest.” That reminds me of your paymaster’s Q&A responses a while ago at Anguish. For UKOG, just substitute “Turkey” for “Balcombe and Saltfleetby”. It was the truest answer His Lordship has given to date: “Success at Balcombe and Saltfleetby is the only thing which will silence such detractors.”
gkb47: well yes, but “most stupid and poorly researched” appears to me to encompass the majority on these two boards. What distinguishes Ocelot is her consistently smooth delivery and sang froid. Far more effective and insidious (sorry, Insidious) than the blatant ramping of the regular boiler house crew. I’m not saying I like it. Actually, I deplore her talents being employed in this cause. But then, as I’ve suggested before, AIM itself has developed as a sort of Darwinian, survival of the fittest, devil take the hindmost, rigged casino. A regressive taxation system by which the small savings of large numbers of the gullible poor are channelled into the pockets of small numbers of the rich and well connected. AIM and the FCA sit on their hands and merely monitor the ticking of boxes.
Not fair, Ocelot. Please get a proper job. You’ll be amazed can at the satisfaction you may get from it.
nomlungu: you may be right. Frogs have the additional charmless characteristic of pulling back into the basket in which they’ve been trapped any of their companions who appears to be about to make a successful escape.
Mirasol: exactly the same is going on on the Anguish site. Do the PR people for these companies get a bulk discount?
I’m starting to feel that AIM, and particularly these oil and gas minnows, are part of a Darwinian process by which the dumb mug punters gradually get wiped out by the voracious company managements, their shills and dishonest share promoters, who grow fat and prosper. They’re like flies buzzing round the fly paper until they finally take the plunge. Worse than a lobster pot.
Ocelot: I think it’s wrong to assume that 7.15% represents the sum of disillusioned holders here. There must be a large number of stale bulls who realise that, while this Board is discredited and appears to be living on a hand (yours) to mouth (theirs) basis, it’s too late to do anything useful about it. Once you've lost 95% of your investment, you tend to leave the rest there, on a “you never know” basis.
HITS: my mistake, you’re right. The RNS refers to “a director” and “the director” though, doesn’t it? The subsequent use of the possessive “their” is quite commonly, though erroneously, used in the place of “his” or “her”. So it could be argued that the commitment is to purchases by a single director, not all of them, what?
It’s all about the availability of money, isn’t it? UKOG hasn’t got any, the shareholders are jaded. The amounts of money required for the building of geothermal plants etc. are far beyond their ability to raise. That leaves the public purse. But why would the central government or the county council want to support a company like UKOG (or Angus)? If Cornwall is as promising as these long posts below suggest, energy majors with the ability to co-invest will surely br involved, and preferred?
Re long term green energy, hydrogen can be produced at local level with solar/wind power and stored under pressure. There’s a lot of wind in Cornwall and a lot of mines that could be converted to hydrogen storage. This would be available on demand and would lose nothing in its storage or distribution . It’s the obvious long-term choice for transport purposes, cooking etc.
UKOG is all about Turkey. If the current well is a duster, there is likely to be a sharp de-rating of the shares, in my view. How they will then raise money for further wells is a matter for speculation.
Ocelot: low expectations are reflected in the market price and balance optimistic expectations, it's the same with all quoted companies. The market price is the clearing mechanism whereby buyers and sellers are matched. I don’t therefore think that low expectations are a plus or a minus.