Member Info for Taxistoohigh

Done

This where I disagree, we were offered £1 a share as part of the deal with S&G. 10p was kept in an Escrow account for any future settlement relating to the deal. This was due to be paid one year after the deal. S&G managed to convince a judge that they had a claim to the Escrow monies and he agreed that they could have and the planned pay-out was held over. This has now been settled and the monies that paid for the fund came from the deal, need to be paid in the same way the 90p was distributed. This my belief and as you say we will find out in due time what will happen with it.

The meaning of an Escrow account:

escrow account

(1) A separate bank account for keeping money that is the property of others.

If it was an asset of the current company it would not need to be in an escrow account.

The escrow account is not an asset of the current company it is held in trust, paid for by the QPP shareholders to cover any further costs. These are now settled and will be paid to the shareholders that were shareholders at the time.

Dividend payments are paid out of current profits. The Escrow was created with proceeds from the sale to S&G, keep up.

Thanks, just confirms that 10p was used to fund the Escrow. So the QPP shareholders who received the 90p own the Escrow and are entitled to the 50m - 11m + investment income.

Agreed 90p was paid out then, but 10p of the £1 total was used to fund the Escrow, which was due to be paid out, but stopped by S&G. All the original holders at the time are entitled to the remain Escrow after the settlement and any interest not the current shareholders.

I’ll go for 4.56

All these sale reversals are odd. Perhaps YA have been overstepping the agreement and told to calm it down. Good luck all LTHs

I think the 275m went earlier by my humble calcs.

I thought YA were limited to 15% of volume per day. Where are all the other round number sales coming from. I think they are being allowed to get out ASAP. Which is why the SP is under pressure but good for LTH in the end.

Here we go. A transformational month in the companies history. Go UKOG, well done to all LTH who stayed on the journey. Good luck all.

Overhang not overhand.

Need to burn through the rest of 300m overhand from the deal before it starts to pick up much. Should be done by Friday close if the volumes of the last 2 days holds. IMHO.

They are certainly getting through them at this rate, be done by Friday close.

DHC you can sell at 1.09 and butyat 1.11 where is the 10% spread? Making it up again, I see.

2.75

No, it will be checked out first. But we have 1 well to be drilled anew and one side tracked, for optimum oil recovery. Happy days are coming back to UKOG and thanks to the eyes we will know when.

Why do HHDL need another approx 1m cash when they already have 3m from the oil extracted.