Member Info for Redheadedrager

Like clockwork now. Metronomic. Every tanker that leaves HH is now approximately £5k revenue to UKOG. Think about it. To quote others on this BB and on Twitter ‘Tick Tock’. Calm, measured, stable production. What’s not to like :-) Cheers! Red

Move along please . . . I’d love to be wrong but I’m pretty convinced that this is nothing more than the MMs giving UKOG a little tickle to move a bit of volume through their books. Remember that they really don’t care about the SP, it’s volume that they crave. . . If you choose to believe that it’s the precursor to a major making a move on UKOG or that the rig is arriving on site imminently then that’s your call . . .

Consolidation is typically undertaken to avoid breaching the company articles which set the limits of issuing more shares without having to hold an EGM to amend those companies articles . . . Rarely a positive move as previously highlighted by many. But share consolidations are loved, loved, loved by those wishing to short a companies stock and MMs alike. So, which one is MacRandolf? Hmmmmmm . . . ?

I’ve done it again. By entering into a debate with MacRandolf I’ve ignored the time honoured adage that one can never win an arguement with an idiot . . . More fool me . . . I think I’ll just filter the idiot. Much better for my wellbeing :-) Cheers! Red

Macrandolf - I have never seen an example where share consolidation has resulted in increased market capitalisation (i.e. increased value for the shareholders) when not accompanied by other actions (listing in the main exchange or transformative strategic improvements in the company’s fortunes). What I have seen happen is that the SP is walked down by shorting scum on the basis of no facts or the market makers using it as a play thing (e.g. VOG). Anyhow it doesn’t really matter what you write stating that this share should be consolidated. If Stephen Sanderson takes his strategic corporate advice from randoms writing on this BB then we have bigger problems than a possible loss of more than 50% of MCAP through an poorly timed, ill advised share consolidation with no other rationale than ‘if we’re priced at 13.5p a share then we’re BOUND to be taken more seriously’. . . Anyone who thinks that IIs really care about what an individual share costs when determining whether to take a long term investment position in an AIM or small cap tiddler such as UKOG really needs their head read. . . They’ll want assets on the balance sheet, probable long term cash generation and a delivered on strategy that goes out beyond the 2 year immediate drilling plan. That’s to start with. One of those we have, the other 2 are close. Once all the are firmly in place (IMO by the end of this year) then we may well start to get interest from IIs.. Share consolidation does not generate value. Cheers! Red

Hi WTT - I have no idea tbh. Strategically if we can get the right price then that would be ideal. The trick would be to do it when we have leverage (distressed seller as DOR seem to be atm) so possibly DOR but not sure about others. Cheers! Red

Everyone, it’s pretty clear to me that UKOG has passed an inflection point. The company has transitioned from having to tap up the market to obtain funding to take the company forward to being self funded. The funding in the future coming from the continual production from HH-1 and then HH-2 and then HH-1z. It’s all clearly laid out in recent RNS, company presentations and interviews with Steve Sanderson. Do not believe the scare mongers on here spreading straight lies about further dilution to fund the company operations. Issuing shares in form of compensation / payment to other HH partners to increase overall share of HHDL is nett-nett at worst and actually beneficial because it increases overall cash flow into UKOG. As SS pointed out in his most recent interview once the reserves are brought onto the balance sheet, UKOG will be able to go to conventional lenders to borrow against those assets for any future major funding requirements. So, IMO there will be no more significant dilution of UKOG shares hitting PIs. Yes there may be minor share issues (most recent was < 3% issued share capital) along the way but as explained above they are being used to increase share of cash flow in from daily oil sales (approx $5k per day to UKOG) and also the share of reserves when declared (a very cheap way to acquire assets to put on the balance sheet). Everyone calm down and obviously don’t believe everything you read on these BB. Do your own research - I encourage you to read what I have written and critically analyse it - fact check for yourself - call me out if you think I’ve got it wrong. Cheers! Red

Vernony. A share consolidation is just that. For example, 10 shares trading at 1p become 1 share trading at 10p. The market if operating efficiently the company accordingly valuation remains the same. I’m not sure what you’re talking about with additional shares being issued during a consolidation? That kind of defeats the purpose of a share consolidation, unless you’re just spreading b/s in order to sow doubt about shareholders being diluted, which does not happen during a share consolidation.

Really? Are we sure? I mean Dropzone never changes their opinion on this share do they? I Amy be wrong of course. . . Red

Heh, heh, heh . . . ;-) Res

I enjoyed reading that RNS. It was a bit like having a warming cup of hot chocolate after an early morning country walk in the cold, brisk, sunny outdoors. All read very fine to me. Reassuringly positive, but no fireworks. That’s good though. Steady the ship before we plough on into relatively uncharted waters of HH-2 drill. Seamless switch from Kimmeridge test to Portland test production. Executed smoothly with no dramas. Demonstrates capability and prowess. Very happy holding (irrespective of what SP does hour on hour, day on day). Long term play at hand here. Could be life changing for me :-) Cheers! Red

@Shallwe - did you actually read the RNS? I do advise that you go back and invest the time in reading all the words. You’ll then probably want to revise what you’ve just written. Cheers! Red

@Mald. 160m shares is about £2.4 million at today’s valuation. Do you really think that a multimillionaire would be in this BB? Really? Sheesh . . . What blatantly daft thing to say. Honestly some people. . . .

To require a TR1 to be issued then the holder (if based in the U.K.) has to breach a 3% holding threshold either acquiring or disposing. For non U.K. holders I understand the holding threshold to be 5%. UKOG has approximately 5.3bn shares in issue. 3% would equate to approximately 160m shares with ultimate beneficial ownership (control) tracing back to a single individual or entity. Possible gunmen recent volumes and I think that also the AIM rules require notification within 3 working days of the threshold being breached, so it you included settlement post trade reporting it could be effectively as late as T+5 before we are notified. That’s my thinking. Happy to be corrected :-) Cheers! Red

Just bought some more 85k @1.52p :-)

@Waynesmith - really you are a bit gloomy today :-( I do hope that you cheer up. Look we’ve now got complete control of HHDL. At a snip. So the SP is off a couple of %. So what? It’s not like UKOG hasn’t had its share of ‘false dawns’. Look, we’re in continuous production in all but name. The rig is going to turn up and spud HH-2 in the next month or so (orneven earlier with luck) and every day that passes we generate more revenue. What’s not to like? Relax, put the kettle on, make a cup of tea and have a biscuit. Moaning about it on the BB won’t do you any good ;-) Cheers! Red

@Rodders74 - it wasn’t a go at you. It was an Only Fools and Horses reference. . . I agree with you. I have historically posted similar analysis. You’ve done your research, performed your analysis and made your investment decision. As have I. I am invested to the tune of close on a million shares. :-) I think that we’re in violent agreement and that I didn’t intentionally rattle your cage. Hopefully you can see that? Cheers! Red

@CaptainStanley - so stating facts about the current situation of UKOG is ‘empty’? HH-2 and HH-1z are fully funded and all permissions are in place. Plans state that this will happen in Q2 or in Q1 if the rig becomes available. So asking people for their opinions about when the rig will arrive, yes, slightly frivolous I agree but compared with the continuous lies and scaremongering out about by certain people on this BB I think that is completely harmless. I’m glad that people challenge baseless claims of ‘this time next year Rodders we’ll be millionaires’ without any analysis / research backing it up. So, there we have it. Empty. No... cheers! Red

Sorry that’s HH-1z . . .

@JTTALV - all permissions in place for both HH-2 and HG1z - and both are fully funded. Result :-) Red