Member Info for OofyProsser

I hope the stuffing in this Turkey will be good, because that’s all UKOG shareholders are likely to get.

Trollhunter: what do you know of fund managers? Different kinds of funds have different requirements and investment guidelines. There will be plenty that could invest here but fund managers normally report regularly to committees whose members question their stock picks. I’m not surprised they're not over-represented on the register here. It would be embarrassing. Not a single view expressed by the optimists on this bb would pass muster with an investment committee at a professional investment management firm. Not one.

CynderLad: I agree with you, they’re very short of cash and will clearly be having a placing very soon. If people would spend the time they waste criticising others who have bothered to get themselves properly informed in perusing the company’s accounts, they’d see it for themselves.

How will you do that?

JustBe: very good!

Mammalian..

I’m sorry, being thick. It’s the % of the votes cast, not the % of shares outstanding.

CynderLad: so are they saying that the 93% included those that voted in favour PLUS those that didn’t vote? Surely 93% didn’t actually vote? That would surely represent an all-time record in a listed company EGM? How does one get to the number of votes actually cast each way?

Am I the only person who doesn’t understand the RNS? How do they manage to claim 93%-odd voted in favour?

Perhaps Mr. Sanderson has taken a page out of Anguish’s book. They didn’t answer any of the May questions on their website, on the grounds that the questioners missed the deadline. In fact, they were all up on the site for a week or two before the deadline, Anguish merely changed the date on them. They’ll now be answered at the end of June - by which time another placing will have been done, no doubt.

Why do they want to make it complicated for shareholders to sign in and why would they want to exclude all but shareholders? (GCSE English examination candidates, please file this under “rhetorical question”. )

Inpatients? They don’t generally like a lot of shouting.

There’s three ready-made candidates for these roles at UKOG in the event that the rebel shareholders prevail. Step forward, the Earls of Clanwilliam and of Lucan and Mr. Carlos dos Santos Fernandes. Look at the job they’ve done at Angus Energy. Ocelot and his friends would be happy - they’re big fans already. The trio would welcome the useful salary hike that such a move would involve. And, as we all know and as attested by the Angus home page, they “are a team of petroleum industry specialists with a proven track record of operational excellence and fiscal discipline“. What more could you ask?

It’s a nice sense of entitlement really, isn’t it? Where did he go to school?

cyan2: I take your point. However, Mr. Sanderson has committed the company to the Turkey well, hasn’t he? He may not have put up all the money yet but they've got his IOU. And the object of the shareholder revolt is not Turkey, it’s whether it’s financed by a placing alone or by an additional open offer. Has anyone suggested that new management would try to renege on these commitments? And where would that leave UKOG? No, I think they’re committed and the only hope is a gusher.

Nomlungu: I agree with the aim of the shareholders trying to oust this weak and overpaid Board. But surely, it’s too late to make any difference? They've shoved it all on 36 and the wheel is spinning.

Skwizz: good luck. I dare say there will be scope to trade out at a profit closer to the spud date.

Penguins: you need no support from the likes of me but I’ve had a look at the posting history of your critic on here and it’s all drivel. Why can’t people debate the pros and cons and not resort to personal invective? The issues here are pretty clear. It’s a gamble on a single drill. The management has taken the view that they might as well be hung for a sheep as a lamb.

Cyan2: I think success will be unmistakeable. It means a gusher. I should think the market must be getting wise to the kind of spin that a accompanies the discovery of a mere dribble of oil. “Success” will mean a result which supports bank finance for its development. Failure will rightly reduce market appetite for further placings and how will they finance themselves then?

Skwizz: I wasn’t trying to criticise, I agree with you in general. I just think it unlikely that UKOG will survive for long in its present form if the Turkish drill fails. Still, suspension of disbelief seems to characterise these AIM bbs, doesn’t it?