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From the IGAS RNS this morning. (Note the comment regarding Horse Hill)
"As announced at the AGM in May 2019, we have been actively seeking sites that can appraise both the Kimmeridge Micrites and Portland Sandstones from a single well. Now, in conjunction with our own technical studies, and data from the discoveries in the Weald basin at Horse Hill, we are excited to be bringing forward up to two exploration/appraisal wells and production tests with the potential to unlock significant recoverable resources at a new site in the Weald Basin. We estimate hydrocarbon in place volumes of c.300 million barrels which have the potential to add significant value to the Company and our shareholders."
Great post, cheers for that. Needed someone with some expertise to counteract those two buffoons.
Remember prior to the 2016 testing at HH Penguins continually posted that it wouldn’t flow because it was ‘tight oil’
Have a great day everyone.
DHC
Your deramping is shameless.
Europa and UJO have 35 mil shares between them. DOR have 17 mil shares, all from the acquisitions.
Not a huge amount by all accounts, and very unlikely to affect the share price if sold.
I know of some investors who hold similar amounts.
I’ve done dummy buys and sells at the same time as the reported big sells. When the spread was 1.0 - 1.05, you could buy at 1.01 and then 1.02.
So, a lot of those supposed sells were buys. Backed up by the fact that the sp is still showing a 7.89% rise.
While we’re on the subject of dilution, and while we are all agreed it’s now time to stop and concentrate on production at HH before there’s anymore purchases of assets, I would ask anyone to offer an alternative method of raising funds up until this point in time.
Big question mark over the £3.5m placing? . Smaller question marks over buying additional percentages at Holmwood and Areton, but apart from that how else would the company have attained over 50% of HH.
Negligible free cash flow to secure a loan at the moment, so I really don’t see any other options.
Imo, the purchase of Dor’s Areton stake was unnecessary at this stage as was the additional purchase.at Holmwood.
Land grabs. Also the deals done with Prim, Solo, and Gun were destructive purely because they were allowed to dump the shares straight afterwards. That should have been foreseen and restrictions put in place.
Beware the jaberwock (seadoc). The obvious problem these professional deramp chaps have is credibility. If they say they’re not invested, but trash a share, then they clearly have an agenda to lower the price. If they say they are invested, and trash a share, then they are clearly stupid. (As opposed to raising genuine concerns, of which there are a few, most notably with the CEO)
That leaves them to come up with a story as to why they are consistently posting negatives. Enter seadoc with his ‘small down bet’ and a few others. They create an alter ego, generally the retired wealthy professsional with many years investing experience behind them. Retired doctors, and more notably retired oil professionals. They occasionally mention some of their assets to give credence to their stories. The yacht, the Jaguar, the holiday home etc. They generally make their posts long and boring with calculations that although complete fantasy, can’t be disputed by the average investor who doesn’t have the time to go into such depth. They strive to appear knowledgable and their target audience is generally the newer investor. These people are common place on these boards and because of the popularity of this share it will attract its fair share. Remind you of anyone else!
And before I get labelled a ramper, UKOG communication and attitude towards it shareholders is nothing short of diabolical. However, the oil is there and it will be coming out the ground.
Stocktaker, I understand what you’re saying, and it’s logical, but do you not think for the sake of the company and or shareholders it could inspire a bit of confidence. A small gesture. But at the moment hypothetical because we are definitely in a closed period.
In times like these it’s very easy to get caught up in the negativity, but the positives are all still there.
Potential multi million pound revenue within a year.
Still attracts a huge amount of interest as can be seen by the amount of non invested new posters predicting doom and gloom!
Spot on. Sounds so easy. Sell up here and buy into something else to try and recoup losses, then buy back in here.
The reality is, sell up here, buy another share with a 50% chance of success. If it pays off, then great, if it’s another failure, pump and dump etc, then you’ve doubled down on your losses.
Some investors are experienced enough to do it. Most aren’t, including me.
A low point in this shares the moment, but it will turn at some point, providing the CEO gets his act together.
The assets and the potential of the Weald hasn't changed, but Its clear that Sanderson is underperforming, and not cut out to be in the position of CEO.
The share price to be where it is, is scandalous. UKOG needs a change of leadership sooner rather than later, or Sanderson needs to get his act together immediately.