Member Info for OofyProsser

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.

How sweet..

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.

...though your post on your goldfinch chicks is the best news on this board this morning!

Moneymunch: “the delay in any update from Ukog was begining to greatly concern me on the likelihood of any good news from Basur-3,”

There was little evidence of your being greatly concerned in your recent posts.

Trollhunter2: Posting again because I can’t make sense of your post, which you've now repeated mor than once.:

“Open offer closes today so the shackles will be off the share price tomorrow and next week.”

Are you suggesting that the price is being held down in order to discourage shareholders from supplying the company with much-needed money? And that a failure to secure such money will result in a much higher share price? If so, what’s the rational basis for such a supposition?

Trollhunter2: “Open offer closes today so the shackles will be off the share price tomorrow and next week.”

Are you suggesting that the price is being held down in order to discourage shareholders from supplying the company with much-needed money? And that a failure to secure such money will result in a much higher share price? If so, what’s the rational basis for such a supposition?

Ocelot: sly, is it? Doesn’t match you though. I’m an admirer, you’ve mastered the art of the consistently smooth delivery of a specious argument.

Mirasol: the trouble with drawing that otherwise sensible line between the Gulf and Norway is that the Earth spins the other way. Maybe they’ll try drilling near Hyderabad next. A better chance there, I should think.

*”Case” should be “cash”

Mirasol: they’re quite fantastic, these companies. Every year, they manage to raise millions (each!), none of which to date has added a brass farthing to their net asset value. A large part of it finds its way into the pockets of the Directors and their multiple City advisers. It just seems to go on and on. Who on Earth is stumping up the case to enable all this to carry on? If Kenneth Williams and Sid James were still with us, “Carry on up the AIM” would make an amusing and instructive film.

Skwizz: I would offer “You haven’t made a loss until you sell the shares”. “Average down”. “David (Lenigas), Steve (Sanderson), George (Lucan) said...”. The market makers [MMs] are...” “They’re all shorters”.

Ocelot: expectations are low because of the management’s complete and utter failure to find any oil in commercial quantities. So your rationale for investing in this is that the management in the past has been so poor that it can’t continue to fail in the same way, presumably owing to some mythical law of averages? But when the dice keep falling the wrong way, it’s unsafe to assume this is a trick of fate which will correct itself to your benefit. It’s more likely the dice are loaded.

mmafr: I’m not expert in AIM rules but should have thought that once trading on AIM has been cancelled, the company’s status will be its own business and that of its creditors, if any, rather than AIM’s. Shareholders are in a sort of limbo while it all gets sorted out, there’s no market in the shares. It’s possible a deal will be sorted out sufficient to meet the AIM rules about re-listing but shareholders will just have to wait and see. Please, someone, correct me if this is wrong.

DutchStanton: Thanks for this. I’m no expert on the AIM rules, but don’t you have to be listed on AIM to be a cash shell? AAOG’s share trading was cancelled in May, so they're no longer listed, are they? They’d have to seek re-admission to trading. I don’t know how complicated this process is but it must diminish the attractions of AAOG to its intended suitor, surely? Still, negotiations were still going at the time of the cancellation, so I suppose you never know.

What’s happening here? Anything? Mr. Forrest’s plan for AAOG to buy half of his stake in Poundland seems not to have gone through and can’t now, can it? They’d have to be co-guarantors with SEL of the Poundland loan, and they’re not. Is AAOG a write-off?

Cynderlad: it's standard procedure with these people, isn’t it? The can’t defend the indefensible so they obfuscate by trying to distract attention away from the company and onto the poster. Nosey-parkerism. Being polite to them and answering their nosey and irrelevant questions is a waste of time, they’re trained in how to keep it going. I hardly ever filter people but this person and one or two elsewhere are much better in the bin.