Member Info for WG818

It made the front page of the Times!

Yep. And that was Tidswell. Only no one actually believed it was a mistake. Rules don’t seem to apply to him!

Lol…they also say this in RNS,s

“At this stage, the Potential Transaction is non-binding and subject to completing due diligence, funding and other material considerations and there is no certainty that it will be completed, and the timing thereof cannot be determined.”

“Shareholders should be aware that there is a risk that admission of the Company's securities could be cancelled if they have been suspended from trading for six months.“

“Disclaimers - this Announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "forecasts", "plans", "prepares", "anticipates", "projects", "expects", "intends", "may", "will", "seeks", "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Announcement and include statements regarding the Company's and the Directors' intentions, beliefs or current expectations concerning, amongst other things, the Company's prospects, growth and strategy. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance, achievements and financial condition may differ materially from those expressed or implied by the forward-looking statements in this Announcement. In addition, even if the Company's results of operations, performance, achievements and financial condition are consistent with the forward-looking statements in this Announcement, those results or developments may not be indicative of results or developments in subsequent periods. Any forward-looking statements that the Company makes in this Announcement speak only as of the date of such statement and (other than in accordance with their legal or regulatory obligations) neither the Company, nor the Bookrunner nor Beaumont Cornish nor any of their respective associates, directors, officers or advisers shall be obliged to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.”

They are going to fall below the hedge amount required in the contract by the end of the year following the decline curve.

What happens then? They have to pay the difference on the hedge shortfall as they did before!…….and that’s only year 1 of the delayed by a year 5 year £20 Million loan. What happens next year and the 3 following?

£10 million plus required for those 2 new wells and the workover required minimum. And that’s into geology that has failed when drilled 9 times before the last £10million plus disaster that was only 1/3 rd successful!

Oofy.

Yes agreed they are a lot quieter than they used to be to be since Mr Herbert took over. That undoubtedly was his decision as the previous management to a man all liked a pork pie.

I can’t recall him ever saying or publishing anything that wasn’t correct or misleading.

Well normally it’s Ocelot who thanks a departed member of the BOD or management fair well for a truly awful job done.

Mr Herbert can slope off into retirement knowing he is the only one in the history of off this Shower of **** who has actually tried to tell it like it is to us mug punter PI,s, with modicum of truth.

Your better off out of it and well done for resigning MR H!

Ocelot …”it does look as if things are coming to a head now.”……just like a boil! Very ugly and painful for those holding shares!

So you are telling us you have insider information Onetomany? ….isn’t that illegal?….but of course you also told us on the other site “you had a man on site at Saltfleetby “ ….that turned out to be total BS didn’t it!

With regards again to JTP.

He was of course the one who bought Lord “melton Mowbray “ Lucan on board. That went well didn’t it!!! It was suspect that JTP was pulling his strings and I strongly suspect that was the case as his lordship was clueless. No denying he often told out right porkies in interviews and Company issued statements, but my guess is he only did as he was asked as he had Zero oil and Gas experience.

Didn’t the paid for mouthpiece Marcy describe Angus as ……

“As close to uninvestable as you can get can get”

At the time of the JTP scandal!

That was of course before he became employed by the company’s PR company.

Rats ships,… deckchairs Titanic, …fat lady, ..Trust throw him, Bowl circling?

The fact Ocelot couldn’t even be bothered to polish this turd, comes a close second!

Jesus. The only decent thing that has happened to the company resigns. Replaced with a man who would be wearing an orange jumpsuit suit suit if we were operating in the Gulf of Mexico. (Americans don’t take kindly to share scandals). Didn’t think it could get any more disastrous for the company, but it just did.

MR Tidswell is very well acquainted with both your suggestions HITS, don’t rule anything out at this point.

He also was going to support AAOG when he put half a million into it. It de-listed and went down the drain within the year.

It’s never been explained how he actually managed to take over from the Russian federation and apparently was given £12 million despite only having £80k showing in Forum energy services at the time! Ancient history now but very interesting reading.

How the OGA now the NSTA gave permission for a one man band to take over a site of “National Importance” from the Russian federation is also going to be answered if this and UKOG go the way it’s looking!

I’m also sure SUFC’s figures are correct if you ask chat GPT, as they obviously did!

HIT,s

Again the CPR gives us figures for actually running the site££4.385 million in 2023.

Costs for the essential new wells to stop the terminal decline rate £5.7 million each.

Accelerator string for SF4 £700k

Then you have Mr Forrest, the 24 month delinquent 8% gross £1.5 million, and the crystallised hedges that they failed to fulfill.

They will probably still break even for 6 months or so, but when the decline rate falls below the required hedge….they are in serious trouble. The only way to stop that is spending millions…..and that’s at all the sites!

*2023 CPR

We do actually have a couple of figures supplied for the cost of the booster compressor.

The 2023 gives a figure of

£2.6 million:P90

£2.3 million:P60

But this was updated in an interview with Mr Zielicki quoting a cost of between £3 and £4 million.

I would strongly suggest all those commenting on the hedges and production actually take the time to read : Note 22 on the company account, regarding the crystalised hedge they failed and are still failing to fulfill.

HITs….the moron is obviously just on a wind up. What he describe as assumptions have all been RNS,d.

Best ignored.

Mmm. So they “didn’t need””to pay? Expect that puts them into default, and the 20% plus Sonia kicks in on that now presumably £23 million loan.

Did they not need to pay The 8% gross either then? Now 14 months delinquent?(about£1.5 million)

Or pay MR Forrest his £1.88 million owed as they stated?

Both those obligations are now liable for a 15% deduction on the 30 day moving average paid in shares……about 2 Billions worth.

As I’ve said before, you can’t argue with stupid so please don’t respond.