Member Info for Thorpedo

I wont lose if it goes up, I think most even the derampers believe it will be higher than this in the future.

I am never the best at judging the bottom (or top), I will leave the last 3-4% to the experts.

I cant make a profit unless I am invested and I am happy to sit on a small paper loss (should it happen) whilst it rerates to its more realistic current value or when the good news hits and it rerates to its future value happens.

Sorry £286K pm I divided by 12 instead of 6.

Dont let the trolls fool you when they discuss cash burn

The ongoing costs of Running the Company for the 6 months to 31 March 2019 were £1.717 million or £143,000 per month. See the profit and loss account here https://www.ukogplc.com/ul/Unaudited%20results%20for%20the%20six-month%20period%20ended%2031%20March%202019.pdf

The figure that the likes of Penguin are using is the net cash outflow of £5,145m. This includes £3.975 on Expenditures on exploration and Evaluation of assets which are drilling costs and also costs of buying further shares in HHDL, these are one off costs and ones that havent occurred in the period post 31 March so these WILL NOT have depleted cash. These one off items should never be included in ongoing Cash Burn.

The Cashflow statement also shows that UKOG decreased creditors by £1.232m so they paid people for expenses from the previous period again this will not effect Cash Burn.

Looking at the Balance Sheet Trade Debtors has risen to £4.3m (2018: 1,215) so this is effectively more cash to UKOG when collected.

WestCountry
Thought and did.

I have just reviewed my notes and assessed the investment. To me this is on the very cheap side at the moment. I think I will have a £5K top up today.

Sting69 @6:01
Couldnt agree more.

Why anyone spend money on building a house without planning permission in place? then why would UKOG start drilling without the production planning? Especially as the application is in place. A small wait yes but one which mitigates any planning risks.

No Rig means no swampies and nothing sticking up in to the skyline whilst the planning is being considered. During the planning meeting we will be able to say that we have had over 300 tankers and there havent been any disruptions.

Personally I am happy to wait - the Oil isnt going anywhere, or at least not until we have the planning.

Penguin
It cost less than £1.8m to run the Company to run the company in the 6 months to 31 March not £5m and we dont know how much of the £1.8m was one off costs. It also received £1.6m from the sale of test volume.

It did invest a further £3.5m on Exploration and Evaluation assets but these costs arent needed to "run" the company.

Thank you Adrian on Twitter. I am not sure if your pictures encourage people to buy or not but I am certain that they reassure people and influence them to hold especially between RNSs and when the Trolls come on here en mass.

Pboo
"Service" definition = "the action of helping" If you and Adrian, are not helping then what are you doing. I believe that you are but took a different definition of the word.

The tanker count has helped many here, I hope it resumes.

I can see twitter, I am not blocked why would I be? The lack of tanker pics is what I was referring to as a blank screen and yes I know that you dont have to help me and others.

Pboo
I was responding to Free-Money's post and Adrian saying he wasnt counting the Kim tankers. I was trying to point out that this could be perceived as the reason being there werent any. Looking at twitter, yes I can see that there is a lot of noise, but unfortunately a blank screen. When a service is given and then taken away for no explained reason does make people suspicious.

As I did say what Adrian and yourself put up is entirely your prerogative and I thank you for what you have done.

@Adrian - thank you for your kind words to me on twitter.

Free-Money
Unfortunately, FOTH has dragged many in with "Follow Fool News". The tankers rolling out have reassured many and kept them in I am sure. The problem is the last time the Eyes went dark was when BB wasnt flowing and the unreported (on fool news) waste tankers were leaving.

Of course it is Adrian's prerogative, but radio silence will lead people to believe the worst.

Seadoc
The £3.5 million wont show in the accounts as the cash was received after the accounts were made up to. So dont go saying that it isnt in there tomorrow because it wont be because it cant be.

Go on let us know before tomorrows RNS if you are in or out.

Presume you will come on here tomorrow at 8 tomorrow and tell us once you know what is in it.

Kris

A wide load notification would need submitting but there is no register which can be searched. Therefore the swampies nor us can find out when and how the rig will be transported. The authorities do know though.

Hindsight Heid strikes again.

DHC
You dont have any knowledge whether Europa, UJO and Doeiemus unless you are an insider.

What us, on the outside, know is that Europa HAD 25m (about 1/2 of yesterdays volume) and UJO HAD 10m (about 1/2 of todays low volume).

If they still have these insignificant amounts left is unkown.

:)

I think that Alba have got their sums wrong re their dilution according to the Agreement:

"If a shareholder does not provide finance as set out above, each other shareholder shall be issued new ordinary shares in the capital of HHDL based on the following formula:

Number of shares = shareholder loan contributed by the shareholder/£6,000."

£261,000/£6000 is 43.5 shares or 4.35%

@Legalease "Does place a current value of £261 million on HH?"

I agree if 0.1% is £261K then 100% of HHDL = £261m and that is current valuation not future.

Until recently UKOG was an oil investment company, and many including the people on this board invested in to it. It became an Oil operating company and is in the process of extracting oil at the same time as having oil investments.

It has invested £300K at an early stage oil play, one which agreed could end up worth nothing but could equally end up being worth 50-100 times what UKOG paid. It is a de-risked investment because SS has the knowledge of HH and the investment has similar geology.

If you want to invest in an oil company which is producing try BP, if you want an Oil company that doesnt have to raise finance to grow then get off AIM.

As long as the raising of finance is for the growth of the Company then I am happy.