Member Info for Vernony

There is something sinister going on it is either market skimmers out in force, or it is being manipulated downwards by a predator out there

This share with its huge potential but no production is ripe for manipulation by skimmers and that, I believe is happening, as the PIs push it up on news, the skimmers take it back down . It is probably one of the best shares around for them to do that

Well journalists have to sell newspapers and bad news sells better than good news. There is no shortage of oil in the world at all, there is a glut, but OPEC are limiting the amount produced also Mr Trump has turned off a few oil taps in the argument with Iran... I suspect the quote may have come from an FT journalist. No matter what is doing well the FT will always say; yes but, so for example if the UK GDP goes up this year, they will not applaud, they will probably point to the fact that it was better in the year 2003, and we must wait until next year to see the Brexit effect. So if UKOG starts to pump I suspect the FT will come out with something like 'that UKOG are up against established oil companies, and a blub about countries phasing out oil for renewables :)) I don't think that I have ever seen a UK financial journalist be it FT, or otherwise, actually talk up the country, they always try to cap it by making a gloomy prediction

It certainly seems to being managed now. Best thing to do is to let it slide and they will shift their money out of UKOG to play elsewhere

Hi Lee, I am not too sure about that, I wonder if it would be economical to wait until UKOG sp rises. It would cost them an awful lot more if they did. But, as you say the oil being sold now makes this drill operation cost neutral, and that is the best position that UKOG has ever been up until now.
For some reason, like the missing punters, business seem to gloss over this. It is almost as if they don't want to believe it, and wish to continue making very expensive holes in the sea bed, which are the first to become profit marginal if the oil price goes down. An on line well, or two, would be a bank against that. I really can't believe that there is not an oil company somewhere who is not interested in this and if they leave it until after the EWT results it will cost them millions more to buy it

Bit alarmist, there is nothing to stop OPEC countries investing in oil exploration and production in Texas ! The problem though as far as OPEC is concerned is that America once imported 25% of all of the oil sold in the world. With the advent of Shale oil America has reduced its imports of crude dramatically, but that does not assume that OPEC are not taking profits from the production of shale oil in the USA

Not in AIM, but there does seem to be the possibility of preset sells going on, which pegs the SP ever getting to a realistic price. This could explain why having had all the good news that a SP requires, yet the SP seesaws between 1.67 and 1.95

What's the betting that it will be 1.925, it has been there so often, it suggests a dump at price on a skimmer computer somewhere

Make it hard to rise because it fell so swiftly but now with a rise of 15.25% it means profit taking will hamper its progress. I don't know how (IMO) that many investors are put off home grown oil by Brexit, it seems to be a safe house and one not affected by the fortunes of the country

If ever you read the posts on here SS (should read)

If you ever read the posts on here BB. Do not go back to BB before you are in stable production at HH. The company is awash with rubbishy shares v/v income already. Please just get on with the job and get HH into production and once you have a viable cash-flow you can go back to BB and try to get it to flow

Well said

Multiple wells ok, but as long as they are not held up so that they can be launched cascades style. Production must start decade, as each well produces it goes into production, the others to be added as they come on stream. If they try it cascade style it will hold up the flow of profits and lead to more Mickey Mouse shares dumped on the market to raise capital to carry on . Play this right and they could be in production with a single well in 2019, otherwise we are looking at 2022

Could always explain it by having a bad case of the bends :))

The only logic one can see in this SP is ninnies worrying about Brexit. I would imagine Brexit will do more for home produced oil not less

Yes but the less than committed are all worrying themselves about Brexit, when - if anything,
Brexit will favour home produced oil

Well said . The troubles with UKOG began with BB and the apparent desire of SS to prove that there was one big oilfield. (HH to BB) This has caused the company to be short of cash to develop where the real oil was known to be. At the moment there is a suggestion that at least the oil being recovered from the operation is supporting the activity at HH. To get rid of wash of shares UKOG will undoubtedly consolidate as soon as they have a SP which supports it. I don't think at the moment that the present low price is at all warrented. Today the SP is so low that it must be tempting to a major oilie. or any company that fancies a dabble in oil. A bid from China, the US, or even and OPEC country cannot be ruled out

Currently the news couldn't be better, but conversely the SP couldn't be lower ! ?

Is it possible that there is an offer in the back ground and they are keeping the sp low. I am not so sure that would be legal to do that because it would be suppression the true worth of the company and therefore contrary to the interests of the shareholders. But, here has to be a reason why those, such as EDR and Angus are higher with no better prospects than UKOG

Chances are that it will rise to resistance point today of 1.925