Member Info for Thorpedo

The planning is based around Portland and not Kimmeridge and definitely not K4, additional planning will go in for it once it has being officially declared commercial.

Crocman
I think that Fund Managers are generally a bit more wise than some of the posters on here. They will understand that SS has skin in the game and has a material interest in seeing the SP increase. They will understand that his options are part of his Remuneration package.

Options granted are better for incentivising as they depend on future SP shares granted are like giving cash, a liquid asset.

This share is not about whether the CEO has skin in the game or not. It is if there is Commercially extractable oil in the ground and how much. We know it is commercial we just need to see how much.

The title of this thread is "CEO has big skin in UKOG" the simple answer is yes he does via options. Does he hold shares, no not currently but that isnt what the title of this thread.

*Vonk bloody autocorrect

Claret
Bonjour hasn't invested any of his own money in to Angus but your mate Scandic likes to quote him as having skin in the game.

Somebody really wants these shares paying a premium to ask:

396,155 bought at 3.5 when ask was 3.4

If this carries on much longer I might end up in profit. Only another 0.65 to go.

Scandic
How did Vonk get his shares? I dont think he paid for them. It looks like it was for services rendered. Not much different to SS except Vonk got his early and without having to put his hand in his pocket.

Everytime you bring this up which is almost daily. I ask can you name another AIM director which has taken up their options early and you have not managed to find one yet.

Scandic
Name one AIM Director who has converted their options early.

SS's dont expire until 31 December 2019 so why would he do something different than any other Director?

Are we going to have another 364 days of you spouting this rubbish.

Just wanted a different heading than the negative ones the Trolls start.

Trolls out in force this morning one claiming that there are 3 Companies which are pumping oil on what must be PE's of less than 1, please can anyone give me the names of these so that I can invest.

Other claiming cash call coming with no evidence despite SS saying that there isnt a need for cash plus 100 tankers providing funds.

Looks like its going to be a long troll fest day(:

Remuneration Committee (RC): We paid the last bloke £600K pa, you can be paid the same or a lesser amount with options to compensate.
SS: I'll take to take lower amount and options.
RC & SS: Agreed £240Kpa and millions of share options.

Scandic
If you dont call the loss of £360K salary per year skin in the game then your definition is different than mine.

Off to the pub, looking forward to Christmas.

Final thought before I shut down. There is plenty of great news out there already that we know which hasnt been RNS'd wouldnt it be great if it came after close on Monday say a 1pm.

I usually wish glad tidings to all but there is one group of people I dont like. Those that drag down good companies in order to personally benefit. Companies which could have made it without them shorting and restricting finance. Lost jobs and lost opportunities.

Fortunately, they cant do it to UKOG as it is already declared Commercial

Seadoc
Yes they were extended at the end of the close period. I dont understand what you dont understand. You have just provided the links which shows that everything is OK.

Seadoc
You cant read a set of accounts because you say earlier that they were filed March 2018 and suggest that the options should therefore show as expired. They are "as at" so they dont change depending on filing date or if you read them today or in 10 years time. Or more simply put 2017 accounts do not show up to date info.

Accounts need auditing, you will not find many companies filing in less than 3 months, for comparison BP took 5 months last year just one month early.

Funny you say that if he took up his options you would close your down bet. I would actually sell some of my shares and derisk because the only reason SS would take up options prior to their expiry date would be to sell them.

You seem to have a lot of time on your hands go and find any AIM or full listed company where the directors have taken up their options early. If your belief is different than all the AIM and full listed company directors who do you think is wrong?

Seadoc
You obviously dont know how to read a set of accounts or understand options.
The options were due to expire in December 2017 but were extended to December 2019, what is the problem with that? Weather the company as reported being in a closed period or because they wanted to reward SS by extending them then there is no issue for me.
The Accounts for 2017 are "as at" 30 September 2017 and as at 30 September the options had an expiry date of 31 December 2017. Therefore they were correctly recorded in the accounts.

The 2018 accounts are not in Llimbo, they are not due until 31 March 2019, and I agree with you they will probably be filed on or around 31 March 2019, their due date.

I also agree with you that SS will not take up his options before or immediately after then, because as discussed previously it wouldnt make sense to unless he wanted to cash them in to make a quick buck.

Seadoc
Correct he would have to pay out 0.4pps so unless he is going to sell them immediately why would he. He can just sit on the options until he needs them. That is the beauty of options.

It would be more of a worry if he did take them up early as that would signal that he was about to sell them to make the profit.

Bernieinspain

Surely that would be stay in it if you dont believe in it.

Be a man sell up and take the loss.

Although you probably cant as you never owned any in the first place.

Why is Scandic's "Report" button greyed out so that he cant be reported. Does he have special privileges on LSE for some reason??

Just waiting for the market to catch up.

Interims give the company a PE ratio of less than 4.5, it also has a long term contract over several years.

Profits up 391% :)

Expect a "sorry wrong board"