RE: Ukog23 Jul 2020 15:51
In all seriousness, like I said earlier, UKOG had to do something after the Weald has turned out to be impossible to produce from in commercial quantities. This is not anyone's fault, it is oil exploration and nobody guaranteed us that there was going to be oil when we invested we all took a risk.
As some of you probably know, I am no fan of SS at all. I think that his salary is extortionate (even if he had been successful) and to take this salary with the results he has delivered is a kick in the teeth to all shareholders. I think that he should be replaced sooner rather than later and that he has not delivered one iota of real value to shareholders in his tenure.
That said, this diversification into Turkey is not a bad idea. It is back to exploration and if they have done their DD well and they get a little bit lucky (all successful drills require an element of luck) then it could indeed restore the company's fortunes.
Getting into Turkey is certainty better than doing noting. The great Weald experiment is over. It failed.
GLA.