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UKOG has been awarded some licences based upon a promise that they will return drilling sites to the condition they were in before drilling, when they have finished in around 25 years.
The committees who accepted those assurances must surely now be looking at the company's share price and its' shrinking value and wondering how UKOG will ever be able to afford to keep its' promises.
How long before they call time on UKOG's bluff?
I disagree NP.
I traded it and have been rewarded with a v.good outcome (not recently though).
As someone who started, ran, and sold his own business, from nothing, I am still disappointed by what's gone on here and absolutely blame one person.
The buck stops at the top.
SS has made considerably more for himself than the business and therefore his shareholders.
I will concede to you the point that maybe LTH's should have considered their position a long time ago and have suggested myself several times, that they might want to do that or at least reconsider the way they invest here, shedding some light on my own experience with flipping UKOG shares.
Though many have tried to talk my results down (form your own opinions of why), the evidence has been clear all along.
Again I concede that most of the flipping I did, and all of my best results, were achieved before I found this forum.
Btw, the last few years, when I did go for it I think it was only 2 or 3% reward.
Only worth doing if you're in for several thousand at a time and then you have to think of the risk of putting that here.
Risk vs Reward = sod that.
:D
Not me.
I haven't bought any for a couple of years.
Maybe one or two small flutters, but the margins really weren't worth it and neither were the rewards.
I had other things going on recently anyway.
Though there have been some opportunities and I was tempted by this week's.
I still wouldn't want to commit enough to make any return worthwhile.
Not sure why you're singling me out especially as I believe that we have a similar view of UKOG and its' future.
Meh.
I am certainly cheap.
I haven't made as much from the FTSE100 as Aim.
But I did it as an experiment.
The experiment turned into a lot more than I ever intended it to and it turned out that I couldn't handle what it became.
Now I'm back to much more 'regular' investing, which is what I was before I bought my first UKOG share anyway.
There was a 20%+ spread here this morning and it's closed up 30% on its' day low.
Tell me I didn't call it.
I wouldn't have bothered to confirm or deny.
We all know and have already evaluated the people who would say that looooooooong ago.
No real investor would trust their ability to correctly identify a male lion if it was clearly marked, "M A L E L I O N".
The price of UKOG shares is not related to the availability or the price of oil and whether or not the UK has any demand for it.
It is solely about an inept, arguably criminal, management team.
As an investor or a lender, do you have any faith left in UKOG's Board of Directors ability to produce enough product for the business to ever become commercially viable.
Otherwise you're just gambling on other people's sentiment.
That's why there are so many 'rampers' posting so much banal rot on this forum.
Seven years of hype vs seven years of utter failure, constantly predicted by those named "swampies" and "greens" by the con-men.
Who has been proven correct at every turn?