Member Info for Thorpedo

Chudders
Go on have your wager, it can be done easily on IG. Let us know how much you put on.

I think the money raised is for more HH and that is why it was raised now.

If a good CPR is released then the cost of HH will go up in a higher proportion than UKOG share price so it would cost more UKOG shares later than it would today. Also a cash offer is better than a cash and share offer for the seller.

https://www.ogauthority.co.uk/licensing-consents/licensing-rounds/ the RNS and the accounts state that we are looking at offshore as well as onshore.

OGA need to see capital behind a company to issue licenses.

Penguins

As a LTH (some may say ramper) I dont disagree with your £63m valuation of Portland (although it could be on the slight high side). Your £63m covers the current SP more or less. Portland has always been said to be a bonus.

The potential of the other assets is massive it is currently like a bookmakers initial offering guaranteeing money back if your bet loses. So a 40-1 shot with plenty of opportunities to cash out along the way with a money back guarantee imo.

Cyan2

You havent quoted this bit for some reason "The prospect of free cash flow and associated proven and probable reserves from Horse Hill in the next financial year, places the Company in a strong position to deliver its ambitious 2020 drilling plans and the associated growth."

They couldnt have ruled out the need to issue more shares, the auditor wouldnt have allowed it.

Zoom/Penguins
Losses can be carried forward until there is profit to offset them against. There is no time limit.
Zoom
How can losses only be used in the year of loss, as there is a loss there cannot be a profit to use them against.

Penguins
Fair enough, 36.6 does refer to shareholders agreement though and we dont know what is in that. Without seeing it we dont know, but I no longer say that they have to sell UKOG as it is impossible for me to know.

Penguins
37.2

Penguins

DOR and ALBA cannot sell to anyone they like, so the only buyers are DOR, ALBA and UKOG. Therefore they can be forced out at bargain prices.

Read the Article of Association

JofHoggit
Are you for real? DYO very basic research.

Nothing wrong with shorting as a whole, the petition is for banning shorting on AIM which I agree should happen.

That said I have for fun placed my first ever downbet against a company which has shot up twice over last couple of days. I will only win/lose £50 so just for fun. I will not be going over to that board to slag it off.

@Seathestars
I dont mind shorting as a whole but do agree it should be banned on AIM. AIM is a fledgling market helping get companies off the ground. They need finance. Shorting restricts this finance and stops potential good companies growing.
UK Plc would make more money by allowing new companies to grow rather than allowing a few shorters line their own pockets.

Per Xodus which has been RNS'd there are 7-11m at a recoverable rate of up to 45% on Portland alone so between 3.15m & 4.95m barrels * 18 gives a HHDL "Portland" valuation of 56m-89m.

3m recoverable at 18 = 54m

If BP bought out/merged with Total and had to issue more shares to do so would that be dilution - simple answer is no and nor is UKOG buying out a greater percentage of HHDL.

Yes 3m 1P reserves.

An oil company is not valued on Barrels per day but Reserves.

I hope no one was taken in by Cheryl's deramping on 22 January when the price was 1.18. I am glad I didnt head her warnings.

UKOG now have to pay 71.9% of future drills, but now as HH is generating cash the amount it needs to call from its shareholders (UKOG 71.9%) will be less.

UKOG (a different company than HHDL) is fully funded to meet its commitments in 2019 so therefore any money HHDL receives means that it will not require this amount from its shareholder and therefore UKOG will have to fork out less. UKOG is better off by 71.9% of cash received in the EWT.

There is also over £7m owed to shareholder which will need to be repaid before Telluran get any of the cash.

In my Commercial Opinion

SlowRoll
{Timing} Not my skillset nor where my research is based. I am a LTH and my research is based around if it is likely to happen in a positive manner or not.

I am happy to be holding. Despite like many others being underwater presently.

Penguins

I will entertain your post.

SS is of course correct. Oil Producers are valued on there reserves, and currently UKOG is overvalued on its currently declared reserves.

But if the OIP and P50 reserves turn in to P2 or P1 reserves then the SP will be many many multiples of where it is now.

UKOG currently doesnt have P1 or P2 reserves nor a Production Licence to get the oil out if it did. You make your own call of what they will be and invest/trade accordingly.

If all goes very well for all the PEDL's that UKOG own, then £1 party is possible, if they are all dusters except HH and HH's rates then Seadoc's 0.55p is possible.

Will there be plenty of opportunities to trade this on the way up/down of course there will, especially before the P1 reserves are declared which will bring in the IIs