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Sageman, totally agree and respect your comments. Share price is a function of:
1. Sentiment - we have seen that this past few weeks, it can turn both ways.
2. Current performance - UKOG don't rate too highly here (Production & Financials)
3. Future Prospects / Forecasts - This is where you need a plan, track record and credibility...mmmmm
Sageman, to get to 2p UKOG (£216MM market cap) would need 3800 pbpd at $50 oil price and $20 all in cost. This is without applying a discount to NPV10 which all oilers have and with UKOGs record a rather large discount would be applied. Also doesn't take into raising capital/equity to fund the new wells!
Now, given where UKOG are, do you really believe this can happen in a 2 year period?
Troll, still trying to mislead people. What the hell has the chart of 2017 got to do with today other than provide a salutory lesson for folks of how people were mislead by SS / BOD then and how that turned out. There are no economics for a higher share price currently. This board fixates with the planning status of Loxley when the most useful thing it could do is engender support for an EGM to remove the board for non delivery over years! How many failures can they get away with? An honorable CEO would have walked. No chance for SS to do that as long as he can keep his snout in the trough. To me that is the only hope for UKOG, a new board.
If MOU was in place a listed company would have to disclose this.
Skwizz, you are taking 2 and 2 and making 22. How many small UK Oil and Gas players are there? IT didn't say UKOG. It said ~UK Oil and Gas.
nhawan, you are dreaming my friend. Please post some numbers to substantiate why a rise would occur. The rise was purely sentiment driven and that has now disappeared.
Give us financial reasons to buy not waffle.
Basil, that's very comforting when your 93% down! That fact and a fiver will get you a pint.
Penguins, couldn't agree more. Why people would read anything positive in a statement like that when the BOD have mislead / deceived / hidden consistently is beyond me. If it had reached 400 bpd you can be sure they would have stated that.
Interesting statistic, since production started on September 10 2018, Horse Hill has averaged 171.7 barrels per day as per UKOG RNS.
Dean, 1P reserves are based on producing assets, so based on 300 bpd. Wonder what a Competent Person will assign significant reserves to that?
To get 2P reserves they would need sanctioned and funded development.
Again who is going to assign reserves to that?
Dreamland.
I would have thought a complaint to the FCA that Sanderson was sitting on material share price sensitive information without releasing it to the market in a timely manner would be more appropriate. To some extent the Loxley decision is irrelevant currently, UKOG have no ways of currently funding the appraisal well.
Troll, at least you had the balls to reappear on here. I quote from your last post of yesterday:
"Turn up HH-1 and start up HH-2 Mr Sanderson...... show them what UKOG can do now."
Not embarrassed? No apology? Everyone can see through this ramping without facts.
Folks, now that we actually have some numbers from the BOD we can calculate a 10 year NAV10. I use $50 oil price, all-in UKOG costs of $20 and the 300bpd.
NAV10 is $21.4MM or £17.5MM which equates to 0.16p, but wait, oilers are usually valued at ~50% of NAV10, so 0.08p.
For those shamelessly ramping falsehoods and unsubstantiated garbage here this last few weeks hang your head in shame, thats if you even care about the thousands of PIs mugged here. Haven't seen any of you since 07:57!
Only sensible course of action is the removal of the BOD, its certainly not buying more UKOG shares with even more dilution coming for shareholders.
Sorry for all LTH here, including myself!!
Free-Money, most of the £4 million raised was to pay off the CLNs and buy the rented wellhead equipment. Can't be used twice. They need to generate cash at Horse Hill or there will be no drilling!
The previous 2 weeks there were numerous ramps on Twitter from the usual suspects and followers. I didn't see it mentioned over the weekend at all, they probably took their profit and ran. It might be difficult to get back momentum again. Loxley was never going to be feeding into cash flow before 2025 anyway if UKOG get the capital to develop it.
Folks, sorry for LTHs here, but there is a lesson to be learned. Many bought in the 0.18-0.25 price range in the previous few weeks. There was an opportunity to sell out with a very good profit in the 0.35-0.40 range but GREED and some fantasy SP projections here probably prevented people from pressing the button. I am still learning that lesson myself despite being bit several times. (on other stocks)
GLA