Member Info for StarBright

jptop7 - have a star from me for your observation that you have to get in before the herd arrives. Also for your tacit recognition that this share is far from "de-risked".

The odds are being tilted favourably by the combination of steady good news from the EWT against a stable share price. UKOG is a better investment proposition at 2p today than ever before for precisely this reason. Still very much all to play for however!

Much of the noise here seems to come from those attached to the idea that UKOG will deliver life-changing returns for limited risk with non life-changing sums of money, and over a short timescale. As always, these people will be disappointed.

It is not possible to determine empirically the current worth of the company, and this will be the case until predictable free cashflow is being generated. That may be some time.

Until that point we are limited to consideration of the potential future value of the company. There are clearly many hypotheses here. The stock market allows us all to back our judgement on future value; it is a crowd-sourced discounting mechanism.

I believe that the current SP is a true reflection of the aggregate of market participants views. It reflects disparate perceptions of future value, as does what passes for discussion on this board. But it is likely that UKOG is today either substantially over- or under-valued...!

I don't agree Rodders. I don't see anything that requires an explanation featuring skulduggery in the way you suggest. The commerciality announcement was so well signposted I was surprised they bothered to RNS it, and the 10th Oct EWT update was - again - largely confirmatory. Big news stories for all of us close followers, but evidently not the material NEW news required to attract new investors and their capital. Only when this happens will see the sp re-rated. In the meantime, holding is a decent strategy.

Its without the apostrophe is the possessive form Boyzee....

"Ukog, its key characters..." not "Ukog, it's key characters..." let alone "Ukog, it.s key characters..."

;)

Especially where you put a full stop instead of an apostrophe where there shouldn't have been an apostrophe in the first place... ;>

I think you may have mistaken me for someone else..! I've never suggested that Solo know anything heinous.

The gold star was for getting one layer deeper and understanding that Solo are finding it difficult to sell because buying pressure is weak. As you imply the general view here that the price is being held down by Solo lacks nuance. What we are seeing is a little more complex than that.

Gold star for fatJock.

Late in the day, JiffyBag reported a rare verified (ie not made up) spotting of an institutional investor - the Marlborough Nano Cap Growth fund run by the well respected Giles Hargreave and others. As at July 1st they held 31m shares - see page 56:

http://funds.marlboroughfunds.com/uploads/documents/15384687878857f73b0f63f528de5d107771725f162ba.pdf

JB - it's normal for funds only to disclose their top 10 holdings in regular factsheets, and UKOG is way outside the top 10 holdings of this fund. The full portfolio you'll find in the annual reports - the July 2018 version of which is the source of the %'s etc in my earlier post.

http://funds.marlboroughfunds.com/uploads/documents/15384687878857f73b0f63f528de5d107771725f162ba.pdf

Page 56

Actually it's a "Morningstar Rating" not a "Morningstar Analysts Rating". The former is a numeric assessment of past performance (ie it is churned out by Morningstars computers) whereas the latter involves a formal research process including interviews with the fund management team, and is a forward-looking assessment of a fund’s ability to outperform.

Now that IS interesting. Great find.

Giles Hargreave who is the highest profile named manager on that fund is an industry veteran. He's run the well-known Marlborough Special Sits for many years and is well regarded in the fund management industry.

The Marlborough Nano-cap fund invests in companies with market cap <£100m at the time of purchase. Looking at the holdings, I think that can be interpreted as at the time of initial purchase. Fund aum are reported as £205m. The fund has Morningstar's 5* rating, which is only awarded after significant research (ask me...) and is a recognised indicator of quality. It's very much a diversified portfolio with almost 160 names (holdings) according to the latest factsheet. This is a high number of holdings in comparison to most funds. The declared strategy is to take initial positions of less than 1% (that's as a % of the fund) and then to add as the company delivers on its strategy.

At the time of the funds July 18 annual report, it held 31m UKOG shares then valued at £589k. The position had a portfolio weight of 0.29%. If the Morningstar data is correct (it's not always reliable...) it looks as though this might have been trimmed a little since to 0.22%. Interestingly they also own(ed) a sliver (0.08% weight) of Angus Energy.

For me this is a positive sign.

Just two noteworthy developments today as far as I can see. The suggestion that “..recoveries of up to 45% of connected Oil in Place could be attained..” was new news; not expressed with great conviction but interesting nonetheless as higher than previous indications. The use of the word “commercial” in an otherwise vapid RNS provoked a decent uptick in volume albeit within a tight price range. 168m traded is the 3rd highest daily volume in the last 30 days, and helpful for a single-minded seller with a vwap target…

The usual folk were up in arms this morning as another confirmatory RNS and film of the 31st tanker leaving HH failed to send the share price to the moon. The “if it’s widely expected then it’s in the price” lesson is being repeated to exhaustion, but uptake levels clearly aren’t high. The full repertoire of usual suspects - MM’s/the EU/shorters/FCA/TW etc were duly blamed and excoriated by the mob. Further unrest was provoked later in the day when a random analyst successfully trolled the lower quartile of the village with a less than favourable opinion in a lightweight Daily Telegraph article.

Seriously - despite the noise the company appears to be progressing its plans methodically. All of the results from the EWT so far have been positive, and UKOG - whilst not yet de-risked - is a far better investment proposition at 2p today than it has ever been previously.

Dodgemeister. Hilarious post, made me smile..!

I'll say that again... Sorry - LSE server issues not me!

Interesting. When you say "free shares are issued in return for debt", could you explain what you mean? Who is borrowing from who?

Interesting. When you say "free shares are issued in return for debt", could you explain what you mean? Who is borrowing from who?

Interesting. When you say "free shares are issued in return for debt", could you explain what you mean? Who is borrowing from who?

Moving on...

Rodders74 - do you think we might still see an old-fashioned 2017-stylee run-up in the SP on news..? What would be required for that..? Or is the story now too jaded, such that we are reliant on slowly grinding through the gears to scale production..?

Old topics dragged up again are a good sign for existing investors! They show that new investors are looking. We are going to need new investors and their capital to move the sp when the stars align...

Yep. Pizza time is coming....