Member Info for Sageman

Penguins, I read your post and you nearly had me thinking that it was a balanced well considered post and then you spoilt it and revealed your true colours when you mentioned SS . Per the RNS detailing the accounts he has received a relatively modest salary ( for his position) topped up with shares. So he does hold several million shares . You know this but deliberately twist it. Sadly this bias serves to undermine your other points indicating a willingness to twist the truth wherever possible towards a negative agenda. For my part I see great potential but , like the market, await proper detailed RNS’s with cashflow projections, profit expectations etc for the next 5-10 years. In the meantime tankers and SS comments regarding Portland ( if true) make me happy with the long term risk reward ratio here. But I accept it could be under 1p as well as north of 10p. I don’t get the need to ramp or deramp given that the RNS’s will do the talking nor the need to discredit Angus given that good news for one Weald producer is positive for all.

If they had a decent offer they wouldn’t need to extend the “self imposed deadline”. As usual DW spin seen straight through by the markets and the Sp moving accordingly.

Oil has fallen 1/3rd since October and over 5% yesterday. People forget that mining (in the broadest sense of the word) is a fixed cost business. Thus the fall has a disproportionate impact on profits. Eg. Fixed cost $20, sell at $60 = $40 profit. If product drops by 1/3rd profit is now $20 thus profit has dropped by 50%. Apply this to UKOG and perhaps as we await our RNS there is at least some logic in the sp drop.

Hi Rodders , I held 90% commercial property until mid October, sold 5% and went to shares. Was still 85% late November sold the lot and put 10% in shares and 70% cash. Property made 4% thus offsetting the losses in shares. I have been lucky with Lloyd’s trading it frequently and along with GFM and SLA it has been a rare success this year. In the U.K. we are overly focused on Brexit but the big news is winding down QE, rising rates and the US/ China trade war. Oil down over 5% today high doesn’t help UKOG. At a time when there is little to say about UKOG as we await an RNS it is nice to exchange thoughts. Best of luck to you and all UKOG holders.

Hi Rodders, I too have a rule regarding diversification . I keep my Aim stocks to less than 5% of my portfolio in terms of purchase price and never let the purchase price of a single stock be more than 2% of my portfolio. UKOG is at the 2% level and thus I am not able to buy more. I have a b/e of circa 1.6 and am pretty relaxed though surprised to be in negative territory. I am 70% in cash scratching my head at the global,geopolitical mess but conscious of some real bargains per earlier heads up on SLA. I am a professional investor and if it is any comfort to normal PI’s this has been a very hard year, I am told the worst from a global asset allocation perspective in nearly 100 years. I am barely breaking even this year. Hopefully 2019 will put a great big UKOG smile on all our faces.

A share like this will always only be a small part of a portfolio due to its high risk nature We are all sitting here awaiting an RNS with most of us now sitting on paper losses. To change the subject and apologies in advance but you may wish to take a look at SLA. SP dropped circa 50%, FTSE100 CO,Large divi. Recent low 222. Game changer RNS late November. The co are buying back £200m of shares. They are buying every day 800,000 - 1,200,000 for the next 3 months. The daily RNS;s' show them buying small amounts throughout every day. It is very rare to get the heads up that a major institution is buying in this fashion. DYOR.

Hats it’s very simple the market doesn’t like the fact that we have no RNS and no proper business plan detailing the financial journey over the next 5 years exacerbated by spread betters and PI’s who need their money for Xmas. A detailed RNS containing commercial flows followed by a detailed detailed financial plan would rapidly rectify this. In the meantime I have built my position and like everyone must wait.

Tankers are great for morale but what we need is an RNS with proper numbers that accountants can analyse per my 9.32 post yesterday. Artisan a proper RNS containing forecast production of the next 10 years, with cash-flow forecasts, profits etc. Numbers that the city can analyse. SXX achieved a market cap of over £1bn based on forecasts so actually the right RNS could propel the sp substantially more than 30%. By the same token a declaration of non commerciality would see us sub 1p. The point is that accountants are not interested in tankers and multiple wells etc. They want BOPD forecasts with profit projections etc that can be analysed into forward P/E ratio's etc.

This article serves solely one us in that it gives a bargain basement price for the infrastructure. However, a productive company is never priced according to the value of its fixed assets it is priced according to the P/E ratio with fixed assets and goodwill being additional. Without wishing to be boring it is just another example of how much we need the numbers via an RNS accompanied by a proper business plan. Tankers, multiple wells etc are meaningless to an accountant. We need projections of BOPD for 2019- 2030 with costings, cashflow analysis, forecasts of earnings and profits. It is not so much a PR exercise that is required here but an accounting exercise. SXX is on FTSE250 based on accounting forecasts which has allowed investment. In contrast we are in the financial wilderness. So my message to SS is when he is sitting on his train to ensure that he has an accountant sitting next to him instead of another geologist!

2, you are delusional. The company are buying £200m worth of shares and doing it the intelligent way per their RNS’s. Buying every single day 800,000 to 1.2m shares day in day out. A financial avalanche that no PI shorter can stand in front of. The buying will continue for circa 3 months throughout the day. On top of that the directors are buying. £3 is more probable than £2 especially if we see benign wider market movements. So you short and I will go long.

I hold both Angus and UKOG. In terms of their SP’s for me they both have one thing in common. Vastly overvalued if no commercial oil ,potentially massively undervalued if oil “gushes”. In both scenarios we await the numbers and for both there is currently little to number crunch based on hard independent data. I am unsure why the like of DHC feels the need to bash Angus and vice- versa by other posters. Also I don’t believe that further dilution is certain for UKOG. For both companies the oil and its commercial flow rates will do the talking. I hope both will be winners.

Hi Wizard but the 3 layers run across the Weald.

Hi Wizard, depending on what the numbers say there may be many options. Banks will lend on a strong business plan , a placing ( Depending on the SP) , a JV or perhaps someone will just buy it out. £30m could get you 10 wells that would pay for themselves in say 4 months, then repeat and repeat.... If the numbers stack up the potential is huge and the hype will be proved to be reality. Sadly for now we await the numbers.

Seadoc I have read your posts before and the rebuttals. The issue is that you can’t value what you can’t quantify and in the absence of hard data from an RNS the numbers that you can work with do not produce stellar valuations. However, throw in K3 and K4 with actual sustainable long term flow numbers. Then say how many multiple wells will be built for the 3 layers in 2019, 2020 and 2021 and the anticipated production in each year and you can start to build a forward P/e. Then you can add in potential elsewhere. This is the difference with the SXX valuation. SXX is producing nothing but the route is clear with estimated production etc that can be quantified. Once we have the data here we will get a re rate. Hopefully upwards!

If you were looking to buy a FTSE100 stock that will not go bust and has fallen circa 50% wouldn't it be great to find one where you know that a major institution would be buying £200m over the next 3 months. That they would be buying in drips all day every day for the next 3 months.Buying 800,000 -1.2m shares every day. Enough fire power to soak up all the spare shares in the market and see off any shorter. I bought in at 2.23 and another tranche today. I have wanted to buy this share for some time but never thought I would get this opportunity.

Scandic read the accounts. His shares are clearly listed ! Is it me or do other people find people who come here deramping by spreading total shite a pain in the backside?! I am happy to know the bad things as well as the good. I want balance but lies are just irritating.

Dahmed with £339,000 of shares brought in lieu of salary I am sure that he has more shares than any poster here! You can't report numbers that you don't have...patience. He wants the SP to go up just like us.

Daltry, do some research he has had £339,000 worth of shares in lieu of salary over the last 2 years!

DHC . I know precisely what the EWT is for! Yesterday we had an RNS with an costed acquisition. We have very little hard independently verified data - end of and yes I hold 16.5m shares so I am not deramping. I am simply saying we need to be patient whilst SS gets the data. If you believe in the company this is an excellent time to buy because once the numbers do the talking, then if SS has been telling the truth, the SP should fly on massive volumes.

DHC , I know little about HUR but a lot about SXX as it is a share that I have traded in and out of over the last few years. Whilst I like what I hear and agree with much of your posts where are the hard facts? Numbers that i can quantify ie a amount of wells , with b amount of oil , c production for how many years, d forecast Costs. e) a costed program of future drilling and cash requirements. I could go on and on. At present its all a very attractive plan that sounds good but with a lack of hard factual data. This is why people can short (as well as SOLO!) . This is why we can buy cheap. If you believe in the project long term then this period will be a god send. A chance to load up before SS produces the data.Bring on the RNS's