Member Info for Redheadedrager

I wouldn’t bother with trading in and out on £1k as trade costs will kill you along with the spread. Either buy and hold with that amount or you could trade but significantly increased capital (and associated risk).

Depends on your outlook.

Are you really a trader? If so then doubt £1k will suffice - more likely a hit and hope.

Or are you investing for 12-24 months then if so £1k could generate a serious return.

Your choice

Cheers

Red

Happy to Rosewall :-)

FYI most modern Group Money Purchase schemes allow for direct investment in funds and equities. Which I do. So far this year 80% gain on that element (a £50k ‘play’ pot). That is a an actual ‘win’ that I’m happy to report just to provide some balance. So, not too shabby. Fortunately I’m prevented from dabbling in AIM stocks within the GMP . . . ;-)

Cor blimey I am the subject of intense scrutiny aren’t I?

Flattered by the attention Rosewall and Oiler87.

I must have struck a nerve . .

Still here though :-) and pension is actually doing OK. Well the non-SIPP elements are anyhow ;-)

Unlike others I don’t sit and brag about my wins.

But happy to share my losses.

Very happy.

Stand by all I post. At the point in time all was said as it was meant. Most can be belittled by hindsight.

Not sure when it becomes targeted harassment but since you’ve no idea who I am then that’s fine.

I form my own investment decisions based upon my research and information form competent experts.

I’ll not be bullied by people dredging through my posting history. Not by you or Oiler87.

So stick that in your pipe and smoke it.

Cheers

Red

@Oiler87

Again ENQ with its $1.6bn debt pile subject to a recent downgrade really eats into the production figure. Just servicing that is eye watering stuff at about 7.0% I think. Again needs to be restructured again soon in what I might describe as choppy financial waters (see TCG, CLLN, DEBS, etc). The D4E risk is huge. Hence the SP is discounted before you add in the other risks relating to huge capital costs of offshore and the Opex to keep those flares going in the forties is also a killer. So bopd yes, profitability no.

Hence the valuation and that’s why UKOG will have a higher MCAP on much, much lower bopd.

Lift costs onshore in U.K. of between $16-21 and no debt to service.

3500bopd give profit pre tax of around £50m per annum. Say £40m post tax and fiddling about.

Price that in on a P/E ratio of 10-15 gives a MCAP of £500-750m. Just on HH. Before you get to BB when we return and then IoW.

Is that simple enough for you?

It’s called mathematics and accounting.

Cheers

Red

Sorry - for clarity

Should have read

I’m trying to win an argument with an idiot, who DOESNT understand facts, logic or the plain truth.

Cheers

Red

@Oiler87

You realise what completed means don’t you? It doesn’t mean half start an EWT and then pack up and go home, do a round of PR and watch mug punters buy more confetti like with UJO.

But once again.

I’ve realised my mistake. I’m trying to win an argument with an idiot, who understand facts, logic or the plain truth.

You just crack on there pushing UJO because it’s an entirely excellent company and not at all built on b/s, hype and hot housing. . . It produces thousand of barrels of oil doesn’t it . . . Yes that’s right the thousands of barrels.

Or is that no barrels, you see I get confused. Exactly how many barrels of oil, net, has UJO produced during 2019?

I’m struggling. Do remind me.

Cheers

Red

PMO has about $2.5bn debt at about 6.5% due to mature in the next 2-3 years expensive and risky especially when we’re on the edge of a downturn.

Seeking Alpha states PMO cheap but limited upside.

Why don’t you try reading rather than trying to convince yourself that UJO is a better deal than UKOG. Or don’t. But for the love of Pete will you just feck off and gonbelat about it on the UJO board?

Cheers

Red

Oiler87

ENQ 67,000,000 bopd = more b/s from a true b/s merchant.

Cheers

Red

@Lazurus1

I think that you’ll find that UJO has billions and billions more shares in issue than UKOG.

Approximately 6 billion more share than UKOG.

Oh and that TR-1 holder you lot keep bleating about. REDUCING THEIR HOLDING. 7% to 4% in one fell swoop.

They’ll be gone before Christmas and all the muppets who’ve fallen for the UJO hype and B/S will be left holding worthless confetti.

Cheers

Red

@Lazarus1

Sheesh muppet - just because UKOG produces oil and UJO well, doesn’t really does it. Especially at WN. The failed EWT.

Cheers Red

@Brocal53

Very good :-)

My you lot are touchy.

Must be something to do with the fact that you’re not producing any oil.

Oh, FWIW . . .

UKOG are producing oil and are about to produce a lot more.

Quite exciting really :-)

Cheers

Red

Heid - so how is your relationship with ‘Uncle Stephen’ now. Guess that you’re not on his Christmas card list anymore?

Look - all I’m saying is that UJO aren’t producing, UKOG are and are on the cusp of producing A LOT MORE OIL.

VERY SOON.

You can report all you like. Those are the facts.

So going on the UKOG board and slating and advising investing in UJO is actually advising people to walk out into the street l and burn £50 notes.

UKOG will be producing 1200bopd+ by 25 December, that’ll be a nice Christmas gift.

UJO will still be waiting for approval to re-commence EWT.

Oh and why was it (EWT) stopped in the first place.

Here’s a MASSIVE HINT.

THERES NO MOBILE OIL.

Cheers!

Red

@rosewall

One of the great philosophers of logic you are not.

Get this for upside down thinking everyone.

I had to read it 5 times to confirm I wasn’t imagining that someone wrote something so stupid on a public forum.

“If you think about it, by the rig arriving the risk of failure increases. Without the rig, no risk. With the rig, increased risk.” - Rosewall 24/09/19

PMSL

Cheers

Red

I see that the game is afoot :-)

60 days drilling operations (from spud date - perhaps this week?) and then we will see what 1000m of optimised horizontal well through the Portland (11-14m barrels in place at the last report) can deliver.

Very exciting times.

Cheers!

Red

If SXX MCAP is about £300m, cash in hand is about £200m but they're going to repay the £400m bonds then how are they going to manage that? Either they’re bust and get wound up, or they issue more paper and dilute existent shareholders by about 60-70%. Dilution position gets worse as SP continues to drop. Is this right?

You really have no idea just how irrational the AIM market is. Good results from HH-2 and HH-2z coupled with one sniff of a TR1 and UKOG will go stratospheric. It’s happened before and it will happen again.

IMO

Cheers

Red

Actually yes. But I had it at about £385m when peaked at just shy of 11p on the insane 6th Sept 17 with 3.54bn share in issue.

But again, ownership of HH was significantly less (around mid / low 20%) and no approval for further wells in place at HH. . .

Cheers

Red

@Spottydog

MCAP at SP of 12 would be £780m.

UKOG has previously held MCAP of over £500m with less proven assets, less ownership of producing assets (HH) and more uncertainty / greater risk do not completely unrealistic at all.

Cheers

Red

@penguins

Re depletion. Read the RNSs.

01/08 “Following a 5-month shut in, flow rates and flowing bottom hole pressures appear more stable than Phase 1 Kimmeridge testing.”

11/06 “Horse Hill-1 continues to produce Portland oil at a stable rate of over 220 barrels of oil per day (“bopd”) via a modest pressure draw down”

17/05 “The Portland continues to produce at a stable rate of over 220 barrels of dry oil per day (“bopd”) at a modest reservoir pressure drawdown.”

I think that these statements, which are fully reviewed and approved, subject to regulatory oversight (and SS can actually go to jail for misleading the market by way of an RNS) are more reliable basis for forming opinions about the depletion experienced to date (in the absence of an updated CPR) than the whitterings of a flightless seabird that is stranded many thousands of miles from home, frantically typing away trying to dissuade investors from doing their own research and forming their own conclusions.

Face it Pingu, you’ve lost the argument.

Cheers

Red

Hi there - can someone please clarify for me if the notifies bond redemption will result in massive cash outflow from SXX or huge dilution, or both.

Cheers

Red