Member Info for Thorpedo

Think tanker is at Brockham

still this hour for me. Looking forward to the results and the market waking up to them.

Private1
SS takes the majority of his salary in share based remuneration. He has options of 85million shares, I wish I was a million behind him.

He takes a lesser salary for these options. Do you believe enough in your firm to say pay me less and give me options instead?

I am happy with Portland and KL3 and think the current SP is undervalued on those results alone.

I am concerned about KL4 and the lack of news and tankers. It does remind me of BB.

Wish I never joined twitter as the lack of news/tankers does become a concern and imo does bring the SP down. Not that bothered about day to day SP as I am here long term and generally happy to wait for SP to correctly re-rate. Just occasionally I have a negative day, need to re-read my notes to cheer me up and understand the reason I am invested.

Typo should be 4.3p

any RNS due imminently. Next 2 hours for me.

Willow
Just my opinion. Buys 1.49 sells 1.47 trades either side suggest sells to me.

Why would you do a dummy 1m sell? I'd be to scared in case i pressed accept by accident.

Rodders
On my reading the 1m + trades are still sells. I have no idea why someone would be selling so much at these levels or who has that many to sell.

We know it is this week, the last two interims have been on Thursdays. Both during trading hours and in the morning. I have been here for a while but think I will move some money here quickly for a trade. We know it is going to be great results, fortunately the rest of the market doesnt yet.

I have fair value at 3.4p, but with any additional news that could easily be raised.

Marlborough Nano Cap was one of the two IIs as part of the 4.5m placing in July. They sold all but 38m shares within the first week.

I presumed they recovered their initial outlay and the 38m is their profit which they are happy to keep invested.

Norwegian Continental Shelf (offshore) are bought at $12.14 per barrel of P2 reserves. Once Portland CPR comes in at 11m P2 reserves then the value of UKOGs share is 48,679,737 (11m*12.14*.78*46.74)

Or put another way Portland alone is worth 0.88p per share. HH Portland was and is only a minor side play for UKOG.

Scandic
If you care to read the RNS, there is no closed period, the options dates have been extended because they were in a closed period when they were due.

Boyzee
The majority of SS's emoluments over the last 2 reported years have been in share based payments. Or to put it more simply he gets paid more in shares than he does in cash.

The options are not in a closed period the date has been extended due to the last expiry date been in a closed period.

Scandic
UKOG dont have the full production licence atm because they dont need one atm. They are still testing, they are doing a well test and then they will do a production test. Following that they will get the Production Licence, they have got most of the permissions already in place and need to finalise the planning, which they cant do yet as it depends on the tests.

Penguin
Sorry, yes he does also say 1mmbbl per well at around 8:56. You didnt pluck this figure out of thin air. This doesn't tie in with what else he was saying.

I will listen to it all again in the morning.

Penguin
I was correcting the 1mmbbls per well statement. Which was a low figure made up by you with no reference to anything.

Penguin
you said 1m per well I corrected you and said 3 per well. 3x3 = 9m. Although SS says 10-12.

I am glad we now agree 9mbo EUR from Portland using simple maths 10-12m as quoted by SS. Using SSs valuation of £15-18 per barrel that gives Portland alone a value of £150m-£200m.

Penguin

He said 30m from Portland 10m per well and 30% recoverable. It does equal 9m EUR rather than the 10-12m SS said but he may have rounded so that people could understand. Unfortunately you couldnt. Or deliberately couldnt.

Penguins
He said 10m per Portland well, at 30% recoverable is 3m EUR. Three times the amount stated in your post.

Vulcan you are missing the NPV the percentage when working this out is usually excessive at 10%pa so 1 in one year would be worth only 90p today using NPV 1 in two years would be worth 81p today 3 years = 73p etc etc

Sagem
£240K is not a big fat salary.