Member Info for ShouldveSold

I am hoping that a second Ruvuma sale payment will be received by April, I think that will be as good as it gets share price wise, before it starts to collapse again due to the evidence that Scirocco isnt capable of being a profitable company with the current business model.

I think I will take that opportunity to crystalize my losses and walk away with something I can invest into Glencore. 4x dividend payments will mean I will see more of a ROI holding Glencore for 12months than holding Scirocco for 14 years lol

If that isn't an investment lesson in itself, I don't know what is.

Oh if I could only go back & do it all again.

To learn that the additional biofertiliser will generate an additional yearly income just to cover T.R's salary is quite funny lol.

Judging the Board's actions/sentiment today, separately from anything associated with Tanzania, evidently it's still a 'raise shareholder money & spend it on costs'. And any money that is generated is purely for the Board and never for shareholders.

Is it any wonder why shareholder have not voted in favour for resolutions.

If Scirocco can only afford 1 new AD plant with the Ruvuma sale funds, then so be it. Get that plant up a running & generating income. If 2 AD plants producing energy & biofertiliser cannot turn Scirocco into a cash flow positive company, then I don't agree with these forecast projections & valuations of £9-10M.

Agreed HM.

To me it's simple. Show the market that the AD plant is profit making & scalable, then issue as many shares as you want.

At the moment the business is still loss making, to them issue shares to pay salaries when the directors haven't generated income enough to keep the company afloat is irresponsible in my opinion.

Ruvuma sales proceeds aside, correct the business which is underpinning the company first. Then talk to shareholders about salaries.

It finally feels like shareholders voices can no longer be ignored by Scirocco & the Board have realised we will vote No to the company being run into the ground financially on fees & salaries rather than funding company progress.

Hopefully a video of the proceedings will be up soon so I can watch it.

I am presuming another shareholder vote will be pending regarding some reworked resolutions.

I think its fair that directors get paid for the work they do. However if their renumeration cripples the company or prevents orange growth then I am against it. I think deferrals based to achieve milestone payments is more acceptable.

But I guess if my employer said this to me, I will tell them where to stick there job lol

By the way ZX, that was satire. I forgot to add lol on the end. It wasn't a serious tangent.

Hmm that quite a lot of negative info there ZX, what's your angle?

For the record, I took a small punt on UKOG when the road to the drill site was completed. I was up, but now I am down. But its not money I couldn't afford to lose. I am sitting on these until news drops. What ever happens & when it happens is out of my control.

I have no affiliation with D.Leni or T.Winni but of course there is no way to prove that so, it's certainly a pickle if me being here is causing waves to the usual folks who are allowed to post an opinion.

So, on the left we have with a 'ramper' opinon and on the right we have a 'advising people to sell' opinion. Lol

Which is it? Who knows. Me deciding to join the conversation won't affect the Turkey outcome Rich.

Hmm I'm seeing a fibonacci sequence here lol.

This is quite a defensive protective chat board.

A few emotionally charged responses rather than pragmatic financial reasoning responses.

Not quite sure what exact comment or comments of mine made me the enemy Ninetails. But I hold nothing personal against you.

Cynderlad, I think when I replied to your comments, ZX & Ninetails decided my reply to you was aimed at them & that's how things got a bit personal.

I'm not concerning myself with Russian Yacht owners or Aladdin playing silly buggers.

My personal opinion is UKOG is worth a punt at the moment. It may find commercial oil or gas, it may not.

In the mean time any money that I could increase my holding in UKOG, I will invest in a dividend paying stock or if I'm feeling saucy I may just give it to Rishi to have a little helicopter ride with.

Maybe the drilling team are playing Cowboys & Indians with the 7 shooters lol.

With the political energy landscape in a high rate of flux in the UK right now, who knows what could happen. The gov might do a U-turn and lift the threshold for fracking, which would transform UKOG into a share all we all thought it could be.

I am not pinning my hopes on any of UKOG's licences producing commercial levels of oil or gas. If one of 2 of them do, great. If Turkey finds & flows commerical, great. But I have learned to not keep on investing into a stock that 'might come good or might find a commercial discovery'. If and when it does, that will change things. In the mean time, there are other stocks to invest in & make a possible return on.

For the record, I am not suggesting or advising you goldbar2 or anyone else to have a balanced portfolio.

Goldbar2, it would be unwise of me to presume that you are frustrated with what you have called a frustrating stock.

For the record, I'm not advising you to seek professional independent financial advice on any investment you chose to make. But if you chose to do that, you may find it beneficial.

The well will eventually get perforated. I'm not going to worry about when that will happen nor am I putting all of my investment hopes into one basket. A balanced portfolio has always proven to offer protection.

ZX, apologies for reading your post as you sounding frustrated with UKOG and if you felt my reply was only speaking to you and not generalising by saying "if anyone".

To be clear, I meant if any feels or felt frustrated or lost faith, then in my opinion, continuing to invest in a stock anyone feels that way about, doesn't make sense to me. That's not to say it may make perfect sense to anyone else.

Ninetails, the full context of that comment was ' if anyone has lost faith in UKOG or SS, then I don't understand why anyone would continue to average down or hold'.

If you are taking that as me advising people to sell then I don't know what to tell you.

Continuing to buy stock of a company that one believes is swindling investors? Lol And buying any dividend paying stock whilst news of Turkey progress. Oh boy

I haven't advised anyone to sell. In fact I said stick it in the bottom drawer and wait it out. To take issue with me suggesting buying a dividend paying stock is categorising is tin foil hat stuff in my opinion. For the record. I am not twisting anyone's arm to buy a dividend paying stock or to stop averaging down.

Apologies if you feel my comments insults your investment decisions.

My UKOG shares are in my bottom drawer and that's where they will stay until a RNS changes things.

Rrrrright Ninetails lol

I will keep my comments stock based.

OK Penguins, so neither AME nor UKOG have done what they said they would do. Why anyone would be motivated to keep averaging down baffles me.

The guns will eventually turn up. The well will eventually be perforated & flow/be a duster , be sidetracked or abandoned. Nothing said on this board will change the outcome. Stick UKOG in the bottom drawer & just wait it out if peoples losses are too much to crystalize, be frustrated with SS & yourselves for throwing good investable money after bad.

Part of this game is knowing when to take a hit & cut your loses.

I'm not saying people shouldn't be allowed to be angry or express their dissatisfaction here. But no one force anyone in gamble on & keep gambling on UKOG. There are other stocks to invest in.