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Hopefully they know the price is going to jump up as before and it's to stop any speeding tickets like the last time.
Do not rely on LSE for RNS updates. They seem to have a habit of being late when it comes to good RNS'S.
It's going to take a very long time for some people to break even with this share. Some people are going to have to wait until it bags 10x, 20x and even 30x. Will all the trading and profit taking, that's going to be an age!
Bank loan
What is it with Aim companies, it's almost like they don't want a decent share price and sod the investors apart from a privileged few. What's wrong with getting a short term bank load with such a dead cert product. Surely the profits will come rolling in like an avalanche and then pay back the loan!
I bought into this share a few weeks ago with making no effort research the company what so ever, only a few hundred quid as I had seen a few people tip it along with a few other covid based companies, I have completely forgotten what they do! I wish I had spent a bit of time and had done a little research (which I am about to do now). I am in at 20p and it's by far when of the best short term performers I have backed. Don't shoot me down lol!
So to pay Steve's wages for the year we just need 160+ tankers at current oil price. So 2 tankers a day, for the 2 months and another 20 days should cover it. That's just shy of 1/4 of the oil production for the year. (Unless Stevens wages are included in the costs of getting it out of the ground).
So let's get this right.... Borrowing £4.2 to clear debts and buy the rented equipment. But just pay 1/3 now of the equipment bill..... "Two further instalments at 6-monthly intervals, or earlier at UKOG's discretion. Each payment either wholly in cash, or wholly in shares, or part cash/part shares, each at UKOG's sole discretion."
What's the betting they won't be paying the rest in cash? I think it will be another million quids worth of confetti!
Hasn't SS said in the past phrases such as shareholder value? Fully funded? Well done, company has just lost 20% of its value overnight.
After the loan is finally repaid I think we will have around 9,700,000,000 shares in circulation. We will then have consolidation and maybe knock off a couple of zeros off the total shares, leaving 97,000,000 shares and a share price of £2.50 a share. This will take UKOG away from looking like a penny stock. SS will obviously continue taken a nice salary and bonus. I still find it odd for a company to take out massive loans to then pay huge bonuses. He will then take out more traditional loans against the proven OIP (which he has mentioned he will do in the past). It would be nice if he could use some his bonus/shareholders money to buy some shares for himself.
Racing Point will be AML racing next year, I wouldn't be surprised if Merc pull out of F1 as a team as they have nothing more to prove and then AML racing well become the 1st customer team with Toto Wolff running the show
Why are people expecting a RNS? Yesterday they said "Omega (AIM: ODX), the medical diagnostics company focused on CD4, food intolerance and allergy testing, notes the recent rise in the Company's share price and confirms that it is not aware of any material reason for the significant increase."
Now if they came out with news in the next few days the above statement would be a lie.