Investors know the potential here and are not put off by the placing. There are billions of barrels of oil down there which will solve the UKs energy problems. This will reduce our oil imports so will be cheaper for our country. Ukog will be fast tracked by the government to get stuff done
"The Company has funded its full share of operational EWT costs. Commencement of the EWT, expected shortly, will be announced in due course." NO PLACING IS COMING.
We do not need the cash or dilution... This flow production will pay for itself from the oil we sell! 1600 barrels a day for 150 days is more than enough to cover the costs of the whole operation.
Very possible, this is fantastic news for all long term holders. We are fully funded for a year and we will generate money every day from the flow tests alone. 3p will be hit very soon