Member Info for Thorpedo

Read all posts, learn that some are just stupid and think thatt they can manipulate the market. You will soon see that most will be gone with a couple of days a week at best.

I am heavily investedf here as my history shows. But for newbies read posts by penguins and Iibug. Penguins, does put a negative slant on stuff (cant believe that it took so long for them to point out that 1087 and grester than 60% weren't the same test) but it it is generally true, it sometimes misses out the positive which I presume are purposeful.

Ibug I find just posts very relevent facts with great oil industry knowledge. Did let themselves down a little by getting into a spat with pboo (who should also be listened to)

I have listened to all sides and am heavily invested here . I believe that I will make a lot of money out of UKOG.

God bless

Ohmetoe
I presume over Christmas.

StrollerB
You are wildly out
You are underestimating price of a barrel of oil by 10%, you have understated UKOGs share by over 5%. You have based the cost of tankering on the full HH amount not UKOGs share and used a ridiculous figure for admin and depreciation.

But by far the worse figure you are using is based on one Well.

This was a buy, YA will be selling in the background providing the shares for the MMs to sell to the buyers. The YA day sells will be shown after the bell.

Mald
Thanks for the calculation I dont know why I didnt do it myself.

I would personally be happy with 745bopd from HH1z over the next 3 months. It would give a revenue of $4.3m

If it does surpass this then I dont think the OGA would have a problem in extending this as they have done numerous other times previously.

Seadoc
There will not be any additional shares shown on the Confirmation Statement as no further shares have been issued as yet.
I would have thought that any issue of new shares in HHDL would have to be RNS'd also any new shares would have to be reported to Companies House on form SH01 - none of these events have happened.

Also Mondays RNS says UKOG have submitted a proposal for a commensurate dilution of Alba's and DOR's holding.

You do have a habit of being wrong whilst waiting for information to be filed at Companies House.

Seadoc
Just download the last Confirmation Statement from Companies House. They are on there.

Seadoc
The the changing of the year end does not effect the date of the Annual Return. Shareholdings are not required to be reported on the Annual Return but so far HHDL has chosen to do so.

No new shares have been issued as yet in HHDL otherwise an SH01 would have been filed and as yet it hasnt.

Penguins
If your method is correct then, UKOG should be suing the solicitor who drafted the agreement.

According to you Alba could have contributed £900K of £6m for their 15% - a fair split.

But if cash calls had come in for £20m, Alba's share of the cash calls would be £3m. If they didnt take them up then an additional 500 shares would have been issued. (£3m/£6K) so Alba would have paid £900K for a now 10% holding (150/1500)

If another initial investor of say 10% had paid all of their cash calls they would have invested £2.6m for their 10% (£600K + £2m)

I think my initial interpretation is correct.

Penguins
I think Alba may have got it wrong.

The £6,000 is for a reason it is the cost of each initial share. Therefore if UKOG have to put in say £6m (your figure) and others dont then they are effectively subscribing for additional shares. Others have the right to do so but seem to have chosen not to. If all subscribed proportionately to their holdings then it is better to classify the contribution as a loan rather than being additional equity.

Or put another way. On your interpretation why would anyone contribute additional funds if they werent going to be diluted by much.

Yes I agree that 35/86 of UKOGs contributions to HH has nothing to do with HHDL.

Any thoughts on the Joint Operating Agreement whereby if HHDL dont contribute then UKOG (137/246) Ltd Can kick out HHDL and therefore letting UKOGs subsidiary own the whole rights to HH. Obviously this would only happen if no one contributed to HHDL.

Penguins
"Number of shares = shareholder loan contributed by the shareholder/£6,000" It "contributed by the shareholder" it doesnt say "not contributed by the shareholder" so the Amount/£6,000 would be what UKOG contributed and not the amount contributed by Alba and DOR.

So using your figure of UKOG contributing £6m against £Nil means that £6m/£6,000 makes an additional 1,000 HHDL shares being issued to UKOG so it would own 1,790 of 2,000 shares.

Or put simply UKOG could own another c.7% of HH as a result of Alba not paying.

If UKOG also refuse to fund UKOGs share of HHDL similarly to Alba and DOR what happens. HHDL dont contribute their 65% and therefore lose their 65% share of HH.

UKOG (137/246) Ltd therefore own the full 100% rights to PEDL 137 and PEDL 246 aka Horse Hill.

mjga786
Todays small raise is enough to pay all of the Directors for the next four years. Their salaries arent big.

I personally presuming that it was for what it says in the RNS.

Qwerty59
Your post is an out and out libulus lie. There isnt anything anywhere saying that SS is getting a Christmas bonus just you making something up for your own agentda.

Only another £2.7m allowed to be converted before 16 February 2020 - read the RNSs, restricted to £3m per quarter. We are now in the second quarter and have converted £300K so far.

SP is up about 25% since the deal was announced some of the conversions were above this SP so more than 25% less shares have been issued than first thought when the deal was announced.

Ibug
Ukog are about to move on to an EWT for HH2z, they may already have started it, they may start it tomorrow, Monday or even in two weeks. Regardless of what you say on here isnt going to stop it.

You cant alter the results of the flow rates they will be what they will be.

If people want to speculate on how much it will flow then let them (they wont change anything either) join them even with a ridiculous low guess or ignore them.

gkb47
UKOG have produced nearly 10 fold of the oil from Kimmeridge alone to cover the annual cash salaries of the directors.

This latest "dilution" relating to the purchase from Tellurian increased the SP. But hey-ho lets ignore the truth for a good de-ramp.

gkb47
5150 barrel of oil sales is enough to pay all of the directors cash salaries for the year. Directors salaries are insignificant in what is hoped to be produced or in fact what has already been produced.

Sachs1
On what basis do you get to 1500bopd. I dont think spouting numbers like that does anyone any favours. Fortunately, I would have thought most lth will disregard your statement.

Personally I will be happy with 700bopd. Anything higher will be a bonus.

KarlovyVary
Obviously you dont understand directors options. They are part of SS's Remuneration package so cost him money that he doesnt get paid as Salary.

He has a far bigger than skin in the game than most (if not all) on here and will benefit in the £millions if the SP rises.