Member Info for Redheadedrager

I think Luckyman is absolutely spot on.

At the moment things are not exactly sweetness and light in the city and most places are looking at cost containment and bringing cash back in.

A £5m placement on a company with few of any independently proven assets, fuzzy looking governance and interrelations with companies which are on the bring of failure would not have the city boys drooling with excitement and lining up to get a slice of the pie.

Expect more SP drift down on no news, and a very hefty discount. All of which adds up to very significant dilution from this point.

I see 0.1p jiving into view on the horizon in the next few weeks.

Cheers

Red

Almost a 50% fall within less than 3 months.

30 August close at 0.3p

Today’s close 0.1625p

That’s shocking.

Classic pump and dump.

Worst thing not all the bad news is out there.

Terms of a massive £5m raise and associated dilution yet to be stated, it won’t be pretty, given the rampant levels of uncertainty associated with this company.

Even more opaqueness only now being explored in proper order by members of this board regarding Humber.

Sensible questions being asked, but no clear responses.

Very worrying, very worrying indeed.

Close at 0.1625p likely to drop further tomorrow on no news.

Board silent.

Discounted placing ahoy and that discount will be materially large.

Probably set offer at around 0.13p given today’s close if SP holds its ground tomorrow.

Not good at all.

Cheers

Red

SP continuing to fall and absence of an update from management re placing.

Not looking good. Obviously having to go back to those underwriting the deal to give them better terms.

Who’d buy at a ‘discount’ to 0.23-0.25 (probably at around 0.2 or 0.19) when now they’re automatically underwater as soon as they ink the contract.

Most likely the discount will be to the 0.17 close tonight and probably larger than the 20% being touted.

I may have been overly prudent with the 0.1p prediction but can certainly see 0.14p on the cards by the time this deal gets away.

Sorry but ultimately there is nothing underpinning this recent rise in terms of independently verified resources and little if any actual income, and the delay in EWT is adding further uncertainty. The markets don’t like uncertainty.

Not good. Not good at all.

Cheers

Red

“ . . . you just wouldn’t be able to see the slots in a slotted liner from that distance . . .”

I agree with Pboo.

Slotted liners have very fine gaps in them. From the photo (much appreciated but zoomed in so not ideal resolution) it looks like a deburring tool? You just would be able to see the slots in. A slotted liner from that distance. There seems to be a spiralled edge to the pipe which is I assume to clean up the well bore?

Cheers

Red

@philbatch

Let’s see just how wrong you are in 31st Dec.

My view is that you’ll be VERY wrong, very, very wrong indeed.

Embarrassingly wrong even.

Cheers

Red

*I did warn people before*

As I have said before.

This company has no PROVEN assets. Nothing. It’s all based on hype generated by the management and some very nasty and pernicious people who have hyped this to the nth degree.

Where are they now?

I predict share price will touch 0.1p this week at a low point. As I said before.

Sorry for people who have been suckered in. Really I am. But I did want people before.

Cheers

Red

Ibug

All that means to me is that the EWT will definitely not commence this week. Beyond that you’re speculating.

Cheers

Red

Fjones40

I think that we’ll be trading well north of 1.17p when the initial flow rates are announced. . .

Cheers

Red

@Skwizz

Yep but you’re broadly balanced. You do own other stocks and you do talk about broader investments - although sometimes at too much length? ;-)

Therefore my view is that on balance you seem like a genuine, but concerned / cautious UKOG investor.

Penguins isn’t.

Cheers

Red

Given to furore over the ‘100bn barrels of oil’ which required SS to issue a public apology and correction via RNS, do we think that he’s

a) Over egging the pudding and deliberately overstating the position in order to pump up the share price in no basis (as our good friends Penguins et al would have us believe) or

b) Being very cautious about exactly what he has got, announcing the most prudent case to the market so as to avoid further potential ‘egg on face’ moments?

Hmmm . . .

FWIW I think that SS is sensibly avoiding putting any numbers on predicted flow rates because that was based on incomplete data. He now has more data and if you read the RNS he has stated that there is the following

‘continued indications of possible improved reservoir quality’

‘significantly lower pressure-depletion than expected‘

‘successfully delivered a significant 2500ft of horizontal section within the Portland reservoir’s SWEET-SPOT’ (my emphasis)

‘HH-2z remains OPTIMALLY PLACED to be able to deliver its goal of SIGNIFICANTLY higher flow rates and the highly productive HH-1 vertical discovery’ (again my emphasis)

Cheers

Red

Just reading back on Penguins previous posts.

Claims to be invested.

Barely posts anywhere else.

Always posts negatives on UKOG.

Got to wonder don’t you . . .

Cheers

Red

The man only asked for you trading platform. Not your life history.

Skwizz - not at all conceited, self congratulatory, or dull.

OK. Thanks for that Ibug.

Let us see how HH-2z / HH-1z / HH-3 / HH-4 and others pan out first. Then perhaps a return to BB.

I am sure that the IoW county council will do a diligent job in any approvals processes along with other public bodies engaged. All will be transparent and well regulated. As has been the case throughout with UKOG approvals processes IMO.

Cheers

Red

Mirasol - agreed but let’s get HH-2z out of the way, then HH-1z then HH-3 and HH-4.

Then perhaps we can consider other sites ;-)

A nice steady income stream of say £59m per annum from HH alone (3500 bopd before deductions for our operating costs and tax and other charges) would be most welcome no?

Cheers

Red

As we are just about to get initial flow test results in the next few working days . . . .

So, 3200ft of optimally drilled horizontal well through the ‘sweet spot’ of the Portland.

Considering that this ‘sweet spot’ that contributes materially to the flow rates experienced to date from HH-1 then I am expecting truly great things.

Initial flow rate in excess of 1000bopd if not higher.

If Ibug and Mirasol want to talk about Arreton then so be it. Surely HH-2z is where it’s at currently :-)

Cheers

Red

For me this little drop on no news just before we are due some very good news flow is a good sign.

MMs I’ll need stock to sell into the rise. So they’re doing what all good MMs do, dripping the price a little to shake out nervous investors.

I’d rather be in UKOG today than not in at the end of the week or early next week . . .

As for UJO, well a very lovely positive RNS for them this morning. Good :-) but let’s keep chat in the UKOG board to UKOG?

Cheers Red

Oh gosh another comp.

So I think that for 30/11 I had 5.4p

End of year 31/12 I’ll go for 6.5p due to Santa rally and all that :-)

Cheers!

Red