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I have tried MARDON TAYLOR non exec director who is there supposedly to protect us. No response from him as one might expect.
He is a Chartered Accountant supposedly. He has taken our money. Exactly the sort of non exec Sanderson likes because he keeps his head down and gives thumbs up. He should go.
Ray.
Similar thought crossed my mind. As UKOG in bed with AME who will be forming their own view of Sanderson, could their oil experts give another opinion on HH and whether Loxley is doable before further money expended. May be it is intention to join forces??
Mirasol, your comment re water injection, is UKOG going to try this. Maybe 100bpd + not so far away after all - what do you think?
The Board must know the results by now and should therefore be announcing by this Friday.
Does anyone here know if HH can be made economically productive given the water issue?
What changes need to be made so HH can continue at least on a break even basis so covering variable and fixed cost assuming current oil prices?
If the Directors had invested in UKOG from the beginning, they would not have allowed the drift down South. Either HH would have been engineered to be economically productive ot it would have been closed. As simple as that.
But it's not their money so what do they care. Keep throwing our money at it and where have they taken shareholders except down the pan. It borders on .......
Shareholders have not the first inkling of what is going on and the directors are making fools of us as is demonstrated by this board. Yet shareholders seem to take it and lap it up. How many vehicles have been seen etc etc
After 5 years of waiting! Try doing business in Turkey -it's great experience and lovely people. But when you think you're there you suddenly find you are not. If they want it they'll sign up swiftly. Otherwise you could be waiting and waiting....
Definite understandings are for politicians, not businessmen. Until a deal is signed off there is no deal. The Turks could be having a bit of fun and gaining intelligence. Conroy is naive to think otherwise and they may have concluded that he is which doesn't help. How many weeks are shareholders prepared to wait?
Don't overlook Sanderson's ego at this moment. He will NOT buy any shares, he will demand extra salary, he considers investors to be the root of all evil and treats them with distain.
Turkey is his present GETOUT mechanism from UK, NOW just suppose Turkey is shall one say unfulfilling, where next. Of course he is near retirement so he could slip away and leave UK AND TURKEY to......
But let's await audited accounts - these could make some interesting reading unless these are not yet signed off for a variety of reasons and delayed under Covid etc.
Is this a watershed moment? Or a twist with more of the same?
A small point -what happens in UK. UKOG criticises UK bureaucracy, surely Sanderson knew this all along and planned for it. Or did this come up in 2020?
Do not be distracted by this sortie into Turkey. What is the plan there? How much funding and what are the realistic prospects?
And seriously does UKOG have the expertise for Turkey. What is the downside for UKOG INVESTORS.
AND FINALLY AND MOST IMPORTANT LETS SEE EACH DIRECTOR BUY IN NOW AND THEN WE REALLY CAN BE ASSURED THAT UKOG IS INNGOOD HANDS.
Wizard125
A very good morning!
And yes very good we buy your understanding of UKOG and admiration for geologist Sanderson.
So all is rosy and we accept that all that can be done is being done.
In which case what is the programme now and for the future. How much cash is available now?
Where is the next bucket coming from?
Is BB to be shut and when? Or?..
How long before HH is sustainable? What do you regard as sustainable and how much more cash is required.
Is Turkey on ?
And do you have breakdown of £1,650,000 payable to PW - exactly for what.
Let's thank Sanderson for all he has achieved -what do you recommend.
Finally the share price - target - your suggestion.
After all your research and satisfaction, is UKOG a good investment for next couple of years?
Wizard 125
Yes I consider there is intrinsic value at HH, ? BB possibly and at Loxley but this on the basis that Sanderson is removed.
UKOG needs experts to brainstorm the sites and tell us what the future potential is, how it will be fulfilled and what it is going to need in terms of funding.
This is what investors are hanging in for. They need this information.
Forget Turkey, that is a decoy to distract investors. A quick buck to nowhere.
Some on these boards have positive ideas as to how to get these sites working - time and finance are the limiting factors.
Unfortunately look at the list of substantial shareholders and one can see why Sanderson thinks he is safe.
Left to many here, he would be called in and told to **** off immediately.
If he says nothing as of now, everyone thinks the worst and expects the worst.
If he does go public, few if any trust what he says.
However an opportunity will arise for the reckoning. It usually does whilst UKOG stumbles on.
It is also possible that he is under siege from 'other quarters'.
As doctors usually say -wait and see.