Member Info for Vernony

I think it would be more reassuring if SS would bring to fruition what he has, he can expand the company once it is on a solid footing . Perhaps when at least 10 tankers are leaving UKOG gates per day might be a good time to eye up the potentials

Doesn't matter to him how many shares on issue because when he consolidates he will end up with perhaps just one billion or less

I just said much the same in UJO . The Shell news is bound to cause jitters in oil shares but albeit the market in oil will decline it will be gradual and the large oilies have a complex and expensive organisations to run. In the end it must favour onshore oil fields located in the same country as their major market. In fact can't help but wonder if the big fish may look longingly at home produced oil and come hunting for the companies producing it ?

I think the Shell announcement will cause a few jitters in oil prices today, but in a declining market where cost cutting is severe then onshore companies located where their markets are, will be in the best position

And some times out and out optimism even when they are even running out of storage space to keep cheap oil. The truth is for the I told you so people, This was a damn good share and one that would even profit from unrest in the Middle East .Bit of sadness that the BoD seemed to be issuing shares as if they were going out of fashion leading to large dilution. But despite the clever clogs on here nobody could have predicted Covid 19 and the effect it would have on UKOG . To all intents and purposes this was virtually a licence to print money, well as far as most shares go that is. Assuming a viable vaccine then this should start to advance, profit based, modestly so in a year or so, but we cannot rule out . Of course there is also the possibility of it becoming a fashionable share to own , that could give us an unexpected blip. As for comments often seen and I often call into question about rampers and derampers . Unless a person is dealing in millions of these shares and also has access to the media they are unlikely to be able to ramp or deramp

Would have thought that this is cheap enough to attract a big buyer, and one that can afford to wait it out

I know that they can produce it pretty cheaply but there are shipping costs involved, so how much do these add to a a cargo ?
Given that oil it certainly set to fall dramatically , will this work in favour of UKOG because it is home produced ? (I hasten to say that they will have to cut their profit margin but if they are selling in the UK, but will their main be better than imported oil)

Although I am concerned about these shares I feel that today is stock market jitters, nothing has changed company-wise

I think all of UKOG oil fields, with perhaps the exception of one, are all contingent upon the predictions being accurate,and therein lies the

Anyone any idea just how many shares would have to be sold to raise the sp just 1 penny ? I have a feeling that the PIs have done their bit and bankrolled the company during the lean years but it is a different ball game now . I mean what would it matter if 100,000,000 shares were brought on Monday , that is a just a minute drop in the ocean when there are nearly 8 billion shares on issue

Not so sure that it has anything to do with water it is only at the tail end and they may be able either block it, or go off in another direction. I believe it is the shares in issue seven billion of them. You have got to buy an awful lot of shares to raise 7, 000,000,000 even one tenth of a percent

Yes Steptoes and the price plummeted today. Terribly inconvenient to your theory . The problem being that if everybody is talking drivel and you consider that you are not, then it is you that has the problem. (and there are over 7 billion shares on issue not 780 000) Unfortunately you could buy an 100 millions shares and make no real difference when there are 7 billion of them on offer and even if it lifted the sp a percent or two then it would attract sellers . They are just too far down now for good news to make much difference because the market skimmers will be in there like a shot. The only thing that can really cure this now is a consolidation or a buy out . I wouldn't think a buy out would need to over more than 2 pps . Left to its own devices it could just
possibly seesaw up and down for a year or two gradually edging upwards after each round time but no company wants 7
billion shares unless they have world wide holdings.So the ultimate slap in the face for the PI is a consolidation and the will come when it is supported by production increases . So I suggest that you run your calculator through the number of shares that you have have . Ir is not that a consolidation will reduce your present cash holding but it damps down the swings in pps . That is nowhere near as good when you have 2000 shares instead of 100,000.... Trivial facts are a,***** aren't they ?

Oh dear I think now that SS has made a mess of it in taking on convertible debt to shares . IMO he had no need to do that because the expectations of profitability outweighed company borrowing by a long chalk. Now it can never move forward and his creditors will convert at any time that suits them and we could end up with 10,000,000,000 pretty worthless shares on issue . We really need a big player to weigh in and start swabbing up and holding shares by the millions (no make that hundreds of millions) or to just buy ukog out of the market altogether . As it stands the company would probably aim at about 1,000,000,000 shares on issue . Sorry all I think that the PIs have been taken for a ride

Corporate safe maybe, but PI safe not at all . Up until now the company has been largely kept afloat by PIs but time after time he has kicked them in the face by covering loans into shares. For him it doesn't matter at all because he can and will consolidated the shares and that would mean that the present 100.000 share owners with perhaps as little as 2000 shares . Fair enough they will still be of the same value but many PIs will have brought in higher the scale and they may have to wait for a long time before they can recover their losses. No I don't think that SS is PI friendly at all, even though they have paid his and his staff's salary when nobody much in the corporate world would have much to do with UKOG . What we want now is a hostile take over perhaps at up to 2 to 3 pps

Bit of a silly reply isn't it ? All companies have overheads, I have been speaking about gross take and anyone with a modicum of sense knows that from gross take you have to pay tax, and rents and wages and equipment etc etc... So I hope the revelation was not suddenly new to you ! On present indications, just on the two wells, HH1z and HH2z UKOG will be pulling in c. (mind you the c mean circa ie not exact, as I doubt you would understand that word) Rule of thumb not exact mathematics . they will be pumping about 1300 barrels combined from the two wells. A ball park figure suggests a safe $54 dollars per barrel. Although at the moment Brent is nearer $68) You will find the calculations too big for your fingers but ask somebody who has a calculator to work it out for you . Once you have done that suggest go to the Oxford dictionary and look up the word 'footling'. There is no charge for the education

Rough mathematics assuming oil at $54 per barrel . HH1 and HH2z will sella little short of half a million $ of oil per week, less just over 14% of which is owned by others. HH1 is already on EWT until it gets the final go ahead as a production well but the difference between EWT and production amounts to nothing at all . After a few adjustments HH2z is also to continue as an EWT up until it is licensed as a production well . Of course various taxes have to be paid but it does seem to indicate that this is a company that has no further money worries

Possibly people shoring up their positions before Christmas, but there will be a reciprocal anticipation of an upbeat RNS tomorrow or before Christmas

I think you will find that the SP is in ratio to demand. Market manipulation is an offence and they wouldn't be an MM for very long if it were found out

Yes, but they have multiple wells in several areas with billions of oil still in place . UKOG will with planning permission be eventually permitted, perhaps, to employ up to 25 tankers per day. IE. 5000 barrels per day but a Saudi pipeline to the well heads may be shifting 15000 barrels and there are several pipelines involved. I don't think that you can really compare the present operation in the Weald with the Saudi - ARAMCO which is producing up to 10 million barrels per day . What we want to hear but have not yet, is that the Weald and IoW basins contain a billion or two barrels . A hundred billion would be even nicer

As I understand it the EWT permit has already been issued and it does not require anything more. If it is the same as the HH1 then it is a very long standing permit which in time will migrate into a production permit . They are in no rush for the production permit because they can still sell the results of the EWT, which will probably be no less than what will be produced with a production permit