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Sachs1
The YA three months period for £3m ends on 16th November after which they are free to sell the remaining £4.2m at will.
The bigger question for me about YA is why have they only sold £1.3 when they could have sold £3m. I have seen YA operate in other shares and their MO seems to get as much of their cash back as quickly as possible. I have seen them delay final conversions before but not on this scale. Could it be that they believe the SP will rise and they have a maximum purchase price of 1.37 so the profit is potentially huge. They have an almost guaranteed 15% but they can delay for potentially 10 times that.
Scallywag3
Whilst I dont usually agree with Penguins I do on this point. I think my calculation (which I dont have to hand) was the maximum conversion price is 1.37.
I am happy with this as the SP was 0.85 when the deal was announced. With the 10% discount YA could have got then the conversion price was 0.76.
Or put another way the £5.5m loan could only cost £3m of dilution as at the deal date price.
Seadoc
You still havent explained what you could have gleamed from a copy of HHDL's micro-company accounts from 31 December 2018 that would be relevant as of now over 9 months later. They provide a snapshot of the balance sheet as of that date. For reference a copy of the 2017 accounts can be found here. https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/Y2SPis4wWfZdNEx8pHO4nK15UTMZLhoS0uQjubQ_Zg0/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=ASIAWRGBDBV3OTWE56HW%2F20191025%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20191025T153725Z&X-Amz-Expires=60&X-Amz-Security-Token=AgoJb3JpZ2luX2VjEDwaCWV1LXdlc3QtMiJHMEUCICI97aKomOVbzfxDFoYDSVKfF46UKWoS%2FfGcVytnYqWTAiEA5WtRP5tQ1zqL3ApocXEqTXhnanHpMg0QLM%2FyjxumrXYq2gMIRRACGgw0NDkyMjkwMzI4MjIiDDK6TCzSy%2BuWmD06Riq3A1EptlWyW9lnTVQHtk8%2B0%2F1lAxY%2B3y3EYO8c9bA%2FKOBNzl8sL7JZmlBT9X%2BOL%2BwaJiNIVEXQHe%2B4pGFn857PqQu8Zvs996ceq7qj%2Fd4aWVAxSDW%2BaLCW1p1p%2FWvAgGKJIRoQm2NSHrgmbbQKaCOBrzLVr0SduANKCArqoEs955VJbK796MxAahdOzetf1KMACSGlQrwti8uc4uoEnnyT7wzUMREGQzzXjqcG260zTHpHViufYegRrb10WrMoPMnN25ccx9xmEFvo1aXnKQQREuo%2FRsbAD%2FFRDmNa18LL8ETSDAuEWjnAXSsQYOG7gMjv68VukOGHOhQI377xhKvgzGYJ0SArSiDdRZK%2BQgXdSqWxPrzDRWhAYIAhxJNZTSQlJC15S1O2L%2BesfEEyZ1kPfknngkuXAaDu1ISqq9FZGUrcnTHOHzziD65eoKIgQJXpfxrrpje29BnutU4tEL4hibMU9WjnXkjIzwgOqJy6tmUcvK6Rch8vnIddbGC%2BtzAKjzLUxlq%2FFg77YSZDKgp5O9XD%2FYBzaG123y0351V9d6cShn9Xk6tQ5oRbptVEWx8%2FrGLsl1uh%2FDcwmLfL7QU6tAGszUc9mjujuwR29c%2BOgVphqMBfZfR80mFfoMW2stnmcj7Idmr0K4JEqwTUwrZcShLSJV5wsQEdCoeIb8Budh49YnRaGR5s2muH5Wotx7bmHCMzR12NqbrSKtitlyww8ZNIHx6arkCxS5seb4nn8J1Evg%2Bzsu4N6CLk%2B0EGZFI3225owQoRBU%2Fbf9VzE%2BtXwPck2n3y4VEU7zraIVGk6A13mU2TSRlzobxqqKR4xZX77d0rUJg%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=16e5351ca0893c3a26041798e6ed7220dcd52c920edee5a2ed49a1d20792f924 you will see there isnt much you can gleam from them.
Also HHDL posted the Consolidated accounts on Companies House just for you.
JayKay
"To suggest I'm 'deliberately misleading by ignoring relevant facts' just isn't on, and you know it..."
I think we both know that you are.
Good luck in your stratagy whatever it may be. Mine is to wait for success or otherwise of HH, IOW, BB and see what happens. Short term dips wouldn't normally bother me but with the YA issue they do. The lesser shares they get the lesser money I get when the value is correctly realised.
That said every conversion to date is well above the 0.85 price when the deal was done. So the £12m is more like £10m for " Bleeding profusely" I am happy. xx
JayKay
The BPs have a higher P/E because they have a higher percentage of plays in production than development. The younger Companies are developing wells and therefore the costs of the development reduces the profits and therefore the P/E.
Or for example let's say UKOG HH make profits of £40m pa and get the market P/E of 12.5 that would give a Mcap of £500m. If they spent £20m of that on say developing Godley Bridge then the profits would be £20m but the Mcap would still be £500m giving a P/E of 6.25 similar to the P/E you state.
Penguins
There was a Kimmeridge update on 30 September. I, as someone who is invested, dont need a daily update.
This drill is mainly about getting Portland to production this year. The progress of this is what is and should be RNS'd.
As you have said previously to others stick to the facts what has been RNS'd and dont speculate about what hasnt.
YA operate on the basis of getting their cash back as quickly as possible so they can lend it again and also to reduce risk.
That said I have seen them pull back before on other shares once they have received a good chunk of their money back but not all of it.
Their maximum price is c. 1.375 so the rewards are there should they wait for a CPR to me it is a no lose gamble for them to wait but as said above that is not how they generally operate.
CaptainStanley
UKOG probably do know the average flow rates etc but cant let us know as currently they are on a EWT not in production, production flow rates will follow once in production.
The OGA restrict the amount that can be produced during EWT however it appears that UKOG keep going back the them and getting this increased.
All the speculation is pointless, its somewhere between 150 and 350bopd. I am more interested in the CPR because more wells can always be added if it is large.
Serial Shorter Seadoc (Not just a minor downbet Sedoc)
So you were short £11K on SXX but dont post on there!!!
You are short on 8 shares per your posts tonight and this is 2% of your positions.
Lets ignore all of your other shorts other than SXX short of £11K and this is 2% then your then your portfoilo is £550K this is not the persona you have been putting out.
Lets say your SXX short of £11K is typical of your other 7 shorts and this £88K short position is 2% then your then your portfoilo is £4.4m this is not the persona you have been putting out.