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I am quite surprised that UKOG has decided to go exploring in an area that has for centuries been torn apart by ethnic and religious differences.
Anyway that's enough about Dunsfold/Loxely. What do we think about the prospects in Turkey?
0.0p and it will remain there until the inevitable consolidation and placing that is coming. IMHO
Even then it will remain at 0.0p unless they can come up with a convincing case for the placing. Paying over-inflated bonuses doesn't count
The lack of news from HH probably means that in the not too distant future Sharecoin Steve will have to dip into the PIs pockets with another placing just to keep the lights on and the bonuses flowing.
Regular readers will recall that I called the last placing correctly and I was nearly spot on with the price.
I am tempted to try another forecast for the placing that IMHO is going to come. However, the decline in the SP mitigates against attempting an estimate of the placing price. Indeed at this rate, before long, there won't be enough room to apply a discount so a placing would be almost impossible.
Of course, there is a tool available to UKOG to give themselves a bit of room for manoeuver.....Consolidation. So that is my next call. Consolidation followed by a placing.
Well Done CynderLad for your 13:41 post. That is it in a nutshell. There is an awful lot riding on the workover at HH and Turkey.
On the 10 Sep 2020 at 11:36 I posted,
".......... All sensible folk with even a rudimentary knowledge of UKOG, such as myself, know that a placing is coming. Maybe even more than one placing because Turkeys don't grow on trees. They have to be explored first. So the aim of the game is to guess the price of the next placing......."
I also made a prediction for the placing price at 0.17p. Looks like I got a bit lucky there LOL.
Anyway my temerity at even suggesting such a thing caused our very own TollesburyStu to consign me to the filter bin, encouraging his followers to do the same.
Is this the very same TollesburyStu who has just posted, "Do people not understand that companies on AIM generally need to raise money to progress with their plans, particularly in these difficult times?"
Well if he really did filter me I won't be seeing a reply to this post. Will I?
Positi only yesterday you said, "This one isn't(sic) though its one of the darling 0.30p see you there, may have to ride out current ramping storm but when reality finally clicks in we get there.. Heard it here first positive energy... I hate deramping so will not(sic) post again till we are there."
Yet here you are again. Not only are you a troll you are not a very good troll.
positiveenergy Posted in: ALBA
Posts: 1,064 Price: 0.54
Strong Sell RE: SP28 Sep 2020 13:38
"......This one isnt though its one of the darling 0.30p............. I hate deramping so willnot(sic) post again till we are there."
It has posted 11 times since then. It is a troll. It has been found. Just ignore it and it will go away.
The significance of Thursday? Well it was on Thursday the 23rd July that UKOG dropped the RNS about the great UKOG Turkey Shoot. Looking at the timeline given for the Turkish Government's approval of the project, UKOG may well have to get a placing away in the next few weeks.
It was also a Thursday when I made my humourous suggestion about the placing price for the fundraise for the Turkey Shoot. Mind you at the time 0.17p looked a bit cheeky. This seemed to upset a few people and to misquote the great man himself, 'Never in the course of human history were so many teddies thrown in to so many corners in so short a period of time'.
However given that the RNS updating us on Loxley seems to have had a negative effect and given that the latest Covid precautions will probably be used by SCC to kick the can further down the road, my prediction is now probably overly optimistic.
Of course some momentous news from HH has the potential to lift the SP and get the placing away at a sensible price. I have been carefully monitoring the radio for news on this front but all I am hearing at the moment is the hiss and crackle of static.
Mdumba - So you are using my comment about the placing that must come to finance the Turkey shoot to make a point about UKOG Kimmeridge changing its name. No wonder I am confused.
It might make things a little clearer if you reply to the relevant subject heading.
Mdumba when you say, "Why on earth does anyone give a fig about a dormant company changing its name? That company has always been dormant. Why bother going through the time and pain of creating a new subsidiary for the group......."
Are you sure you are posting on the correct BB?
The significance of Thursday? Well it was on Thursday the 23rd July that the RNS about the great UKOG Turkey Shoot dropped. So we are 8 weeks down the line.
The timeline in the RNS was given as a few weeks (submitting application) plus 2 months (Turkish Government approval process). So are we just a few Thursdays away from the point at which UKOG need to raise multi-millions of pounds?
Last week I caused some residents of the BB to throw a hissy fit when I said that my guess for the placing price for the death spiral finance was 0.17p. Given that the SP is still in the doldrums and that there is unlikely to be any news anytime soon, that is likely to raise the SP, I am sticking with my guess.
On the plus side, all those throwing the hissy fits last week did say that they were going to filter me so I shouldn't receive any hate mail this time around.
NoviceInvest Today 08:07 Bid price 87p
'It hasn’t started drifting down yet, just you wait.'
As I post this the bid price is 88p.
Is this some new use of the phrase 'drifting down' that has escaped the rest of us mere mortals?
Simmo - Here you go. These should answer the basics for you.
https://www.lse.co.uk/rns/NCYT/launch-of-two-gene-covid-19-test-5vqc0fa8uf9ezjc.html
https://www.lse.co.uk/rns/NCYT/launch-of-respiratory-test-panel-d8es90tp0ji6os3.html
https://www.lse.co.uk/rns/NCYT/three-new-products-to-support-covid-19-testing-7eisl1ak3upipuw.html
troublesome - I understand the idiom 'The thin end of the wedge' and its implication for society. However, the 'Thick end of the wedge' escapes me.
Toller's old chap, I doubt very much that you have binned me. However, you could prove the point by not replying to this reply.
I am led to believe that deramping can be likened to libel. In the case of libel if what you are saying is the truth then, no matter how unpalatable what you are saying may be, it is not libel.
The same criteria applies to deramping. No matter how much PIs dislike placings the sad fact of the matter is that Turkey will require millions of pounds of new money, as detailed in the RNS. That is the truth and not a deramp. Unless of course the is some new source of funds that someone could identify for the benefit of us all.
Mind you UKOG is just one big guessing game so maybe I should have thought a bit more about the subject heading.
Anyway down to business. All sensible folk with even a rudimentary knowledge of UKOG, such as myself, know that a placing is coming. Maybe even more than one placing because Turkeys don't grow on trees. They have to be explored first. So the aim of the game is to guess the price of the next placing. There will be a magnificent prize for anyone who correctly forecasts the placing price. Namely a deep down warm glow akin to wetting your pants and no one noticing.
For what its worth my guess is 0.17p. This is based on the current bid price minus the customary 15%.
Don't tell me I have found them all. What will I do now?
Thu, 23rd Jul 2020 07:00
RNS Number: 8205T
'The assignment of the 50% interest from AME to UKOG is subject to Turkish governmental approval, which is expected to take around 2 months from submittal of the necessary standard documentation. It is expected that these documents will be submitted over the next few weeks whilst the formal agreements between UKOG and AME are finalised.'
Tomorrow will mark 6 weeks since this RNS was published. UKOG is known for playing fast and loose with terms such as 'a few weeks' so most people will not be surprised at this. Of course, the 2 months required by the Turkish government may also be a bit flexible so this may be dragged out for a bit longer.
Of course, all of this may not be too much of a problem but from the same RNS we have:
'The first commitment well, currently planned to appraise and flow test the Basur oil discovery, must commence drilling before 27 June 2021. Drilling and seismic are therefore expected to commence before the end of this year, Covid, weather and Turkish governmental transaction approval permitting.'
So a deadline in June next year and we are just drifting along. On the plus side it does mean that the impending placing can be put off until, hopefully, the SP has recovered a bit. So not as much confetti will be required. Although, apart from a pump and dump around the upcoming planning decision, I don't see where the price rise will come from.
"With Ukog's share of its Horndean oilfield production that should create around $2,000,000 of revenue, to date."
Well, that's a relief. At least the BOD's bonuses are secure this year. Now all that is needed is $5-7m to get Turkey to the point where it might be self-funding. The funding for IOW and Loxley will probably be found down the back of the sofa.
Just joshing LOL but on a more serious note there has got to be a placing at some point.
oilriches when you say of my earlier post, "That’s a deramp if I have ever seen it. I have spoke(sic) to the company. Finance won’t be an issue and they hope to get an institution involved"
I am so glad to hear that an institutional investor is going to get involved. Of course, it would have been nice if they could have let all their other investors know about this but you obviously have some special insider connection to UKOG so I will stand corrected.
in my defense, I will say that I was reading a certain RNS and was assuming that they were talking about CLNs or death spiral finance as it is known.
Thu, 23rd Jul 2020 07:00
RNS Number : 8205T
Whilst the Company believes that at current oil prices a successful initial programme can likely self-fund further production drilling, it may be necessary at some stage for the Company to raise future working capital to bring the project to fruition.