Member Info for StarBright

Is it more risky to short a share trading at 1.95p than it would be to short one trading at (say) 15p?

L2 access for PI’s should be taken away. Or restricted to those able to pass some sort of basic competence test. The bandwidth wasted here every day with pointless posts prompted by half-understood L2 data is beyond belief.

I am going to add “Anything L2 related” to the list of drivel topics that can be safely ignored.

Judging by his last video appearance I’d say he’s gone out for lunch, and may not be back for a while. If the Kimmeridge oil is under as much pressure as his trouser button we’ll all be millionaires by Christmas...

We don’t know exactly the scope of any expected report. Here’s a good general background piece of CPR’s though: http://gaffney-cline-focus.com/the-competent-persons-report

New, materially positive news is going to be needed for the share price to re-rate. It is quite possible that any Xodus report re the Portland layer will provide no more than confirmation of information that is already “in the price”, although surprises are always possible. Positive news on connected volume would be great! Commerciality is an internal declaration (eg it is determined and made by the company), although a good CPR will help win over any sceptics.

We believe that testing of the deeper Kimmeridge layers is taking place at present. There is perhaps greater uncertainty over results here. If previous results can be confirmed over longer test intervals that will be very good news.

Here’s a repost of my list (plus additions suggested when last posted) of topics that can be safely ignored...

- 1-codes
- the absolute number of shares in issue
- Brexit
- National significance
- Viewing platforms
- Brass bands
- Pipelines
- UKOG petrol stations
- FTSE100 inclusion
- Mudskippers
- Shorters
- Tree shakes
- Tankers
- MM's "holding" the price
- Mates rates
- Buybacks
- Buys showing as sells
- Algos
- Iceberg orders
- Hunting stops
- Lambos, Rolexes, £1 parties etc
- The French, BP, Esso
- Big boys
- Earthquakes
- Strokes per minute
- MACD/RSI/Fibonacci
- The price today will be closed at...
- LIFT OFF/BOOM/RRROOOOCCCCKKKETTTTTTTTT/
- The Kraken
- The $Aussie conspiracy
- Tom Winnifrith / BMD
- Surprise RNS timed to "burn the shorts"
- 10% per day
- Walked-up / down
- Weak hands
- imo
- Three sleeps
- Production company status
- Golden tickets
- wouldn't want to be out over the weekend
- fishing
- flamenco dancing
- ...

Bennib07:

1. The most reliable source of info is the company itself via RNS’s and its website, and even that content has proved questionable at times. The social media stuff can be safely ignored.
2. Further info from the company regarding ongoing testing is eagerly awaited. As is some form of independent report from Xodus. No-one knows for sure when either of these will be forthcoming.
3. CPR’s can take weeks, even months to compile and sign off. There is - at best - an uneven distribution of oil industry and investment knowledge on this board.

At £3.20, mcap would be just short of £6bn. That’s comfortably in the FTSE100 alongside the likes of SJP, Morrisons, ITV.

Those “...contracts that we are potentially sitting on...” must be very very special indeed...!

These conversations don’t belong here.

The irony of the thread title should be lost on no-one...

lynthip - a seller of HHDL shares - or anyone taking UKOG stock as consideration would require a warranty (that's an express legal declaration) from HHDL/UKOG as appropriate that no price sensitive information was withheld. Draft status for a report might be a valid reason to delay an RNS (this happens) but it wouldn't hold water in a transaction situation.

The idea that UKOG/HHDL could hold back information in order to transact on better terms is a recurring one here. In practice it would be highly risky for the directors involved, all of whom have their professional status and reputations to protect. If a deal was done, and it later transpired that information had been withheld, the injured party would have a clear course of action. They would have a high chance of success because it is likely that documentary / discoverable evidence would exist.

The "mates rates" thing again...

jerseyjohnnie - what stops or stopped you buying shares at the quoted prices?

If a price is available to all, then it's not "mates rates" is it?

My wife said she was leaving me because of my obsession with The Monkees, I thought she was joking.

And then I saw her face...

@DadsPuns

Yard - that will depend upon the company’s capital requirements. If UKOG is to drill and operate multiple wells across its Weald licences with the latest Octopus pads etc this will likely require more capital than they have today, and more than can be generated quickly from HH production. In these circumstance some combination of debt and equity capital will be raised.

If the productive capacity of the licence areas is more limited then it is possible that existing funds + operating cash flows might be enough for a more limited commercial operation.

Matteth14 - I completely agree on capital raising for exploration/resource companies; it is a necessary fact of life. However, the YA deal may have seen UKOG's management turned over by some sharp(er) operators. I suspect they were perhaps naive with respect to assurances given over selling etc., and possibly wouldn't enter into a similar deal again...

Part of the skill of running a company like this is the artful raising of capital! This requires judgements on how, when, where etc. I think that UKOG has made mistakes along the way. Shareholders should always ask questions of management to ensure that lessons have been learned.

I agree. Not management's finest moment, even if they were somewhat "backs to the wall". Hard questions are entirely legitimate.

Subsequent placings seem to have had better timing and terms.

I agree.

This is a better investment proposition (following the Portland RNS) than it was when it traded at this level previously. It is far from de-risked, but a reasonable candidate for a punt with the last couple of % of a diversified portfolio...

In your case Dropzone, I agree.

argus1 - you've made over 30+ posts in the last week alone about the price rising, large buys, confident buying, tick up etc. You have more words for buying than the eskimos have for snow...

And yet the price has fallen each day: 2.08p, 2.05p, 2.03p, 2.00p, 1.93p

Seriously - I know that you are a true supporter and (like me) a holder. The summary you posted over the weekend about UKOG's sp performance over time was well constructed. If you moderated your breathless minute-by-minute reports of every tick up, recognised that even holders can have critical views and stopped shooting at everyone you suspect of not being a holder/supporter I think you would find that people would take more notice of your posts.

Post histories reveal the truth, and readers of this board can and will form their own opinions on the contributions made by regular posters.

Your contribution seems to consist largely of pointless spam about "large buys", "strong buying", "another tick up" etc together with frequent attacks on posters not drinking the KoolAid.

Yes I am.

I am equally disappointed by both rampers and de-rampers. Far too many of both groups here, interested only in using this board to influence others. Neither group has any claim to moral high ground.

I am interested in sharing information and insights on UKOG in order that we can all improve our understanding and make better decisions as a result.

AIM Oiler(s) down 3% is hardly noteworthy! It's well within the usual noise range. Interesting to traders perhaps, but essentially irrelevant to investors with horizons not measured in hours and minutes...