Member Info for Sageman

Yet another 2m sell just gone through. We have all the evidence we need that SOLO et al are continuing to unload. I said over a month ago that assuming they were keeping 30-50m it would take them until mid November to be done. This was based on the amount that they could sell per day without the sp tanking. We don't know how many they still have or how many they will retain. The good thing is the more they sell the less they have to sell into a spike.

Decided to play a game today. Wait for the 2m sell and then buy. Just bought 1m at under 1.80.

As expected 9.03 2m sell. Now tell me that SOLO etc have finished selling! There is a reason for this sp level hiding in plain sight.

Another typical morning with early doors selling. It will be interesting to see if we get the 2m sell that has occurred on each of the last 2 mornings.I would love to see an RNS but I believe that Heid is 10 days out with her EWT timetable so I am looking for 24th but an update earlier would be good. Interesting yesterday apart from tanker sightings was the Alba presentation. Didn't know they had just under 12% of HH with a market cap of £11m whereas our market cap is £106m - food for thought.

Arcam, quality deramp - respect. But that is why most sane posters here are dreaming of £1 but expecting single digits. When you buy an option there is the intrinsic value and the time value. The option will often trade well in excess or below the intrinsic value depending on sentiment. With UKOG we have little idea of either the intrinsic value or the time value. I guess that is what makes it fun! Most posters here are well aware of the risks .

Have now had chance to re-read the release and UKOG RNS of 10/10/18. Can now see why no one here got excited as there is very little ( if any) new information. Good to see the tankers earlier.

Qwerty UKOG do not own 100% of HH . Alba own circa 18% and the release is a general update on all their holdings. The fact that they have included specific information on the EWT not yet released by UKOG is fine by me and welcome news.

Hi Sarir, my reaction was the same as yours but no one commented so I thought I must be reading it wrong. I read it within a few minutes of the release of the RNS and gave everyone here the heads up immediately as I got to page 12 but the reaction was muted. For me this is the 1st authoritive news on the EWT and it is positive.

Hi Oily I picked up on that and other positive comments about the K3 ewt early findings that have not been reported by UKOG but are withi; the Alba Presentation. Yes Testing ongoing but tankers etc. Pressure higher than 2016. All positive. Surprised that the more technically minded posters here from within the oil industry have not commented.

Just issued. Contains info regarding EWT on K3. Still reading but others should too

Solo is selling for reasons that are little to do with UKOG. In terms of the pump it was going faster than 6 strokes per minute , it did more than that in the 48 second FOTH video. One poster said 10 . The point is we do not know if it is running full speed all the time, whether they shut it down at night, whether they vary the flow...etc. What we do know is that they are pumping oil and that the RNS will tell us if it is commercial. In the meantime good to see another tanker today.

Cock in the absence of an RNS confirming the precise flow rate no one can answer your question regarding how many tankers are required. You know that so why ask a question that is clearly a stupid one?!

Crocqman, interesting post there are indeed many unanswered questions. FWIW my view is that the oil majors are sitting on a pile of cash as evidenced by recent results and would much rather develop a nice easy onshore oil field than an expensive offshore rig in a hostile environment. If the figures here are good I would expect us to be bought out so I am not bothered about a future capital raise.My focus is 100% on the EWT results. UKOG will need those results to be independently verifiable and the co would not want to destroy future confidence by issuing statements that are not verifiable by an independent source. I am happy to wait. Lots of upside, limited downside due to Portland commerciality.

BAZ they don't give a damn about traders! People who have invested as opposed to taking a punt would be happy to wait for the EWT results! In terms of the SP it is very obvious that we still have institutional selling as predicted. This is identical to yesterday - even the 2m sell early doors.

Master baits it’s just a bit of much needed humour as we Pi’s await the fateful RNS. No I’ll will intended.

Master baits we all know why the Sp is where it is - sellers - solo et al. Angus has not had that pressure , hence the rise over the last month. Personally I am in both as I believe are most posters here. I have used this period to increase my holdings. The 150 days EWT doesn’t finish unitil 24th but as Heid says we may get an update earlier. I don’t know if K3/4 are commercial but Portland is so eventually I should get my money back even if the rest is non commercial. Seems like a good bet to me. Very limited downside, huge upside - just need patience. You rarely get to make a bet where the odds could be as high as 20 to 1 with the bulk of your stake returned if you lose.

It’s Rick spelt with a silent “P”.

If you buy at say 1.90 and sell some at 2.2 the B/E on the remaining holding falls. It follows that we have no way of knowing who is selling! There is however a pattern whereby we see sells early doors as we did today.This is typical of where a broker has sells to fill above a minimum price and just gets on with it, but only sells above that minimum floor. You can then see subsequent sells through the day. It is pretty clear that the selling (from whoever) has yet to abate.

Thanks Oakleak for confirming my thoughts. I don't look at this all the time but it seemed quicker than when I last looked. I don't know what a faster pump rate implies in terms of long term commerciality but for now I am happy that it is pumping oil. I continue to believe that Solo selling and the communication vacuum whilst we await results is an opportunity to buy but 11m shares is enough for me. I also hold Angus and believe that since the are linked UKOG shareholders should want good news for both.

The pump is indeed pumping and a tanker is sitting there. However, what struck me was the speed of the pump. It seems to be going faster than before. Did anyone else notice that? I am not expecting EWT to finish until 24th but there is nothing to prevent an update. For my part visual evidence of the speed of the pump speaks volumes.