Member Info for wizard125

Adrian

You have reported yourself many time that was under free flow not pumped or under OGA restrictions apart from maximum amount flowed with the only restriction on his much not in how long.

The key question is in production with a 100% HH licence holding & production targets to achieve what will the results be.

That is why as a share holder with many million shares well underwater believe that the remuneration committee is key.

Brighteye

You seem to have bought shares at this ultra low level unlike myself but also don't seem to have understood my words below.

I do not personally support further dilution for new licences without a CPR but I personally believe that if it is in the companies & shareholders interest to dilute further to attain 100% of the HH licence the the directors should have the authority to make that call.

Brighteye

You may or may not be Adrian & as I have stated below FOTH & I have out current differences, but many times I have appreciated his posts over the years but do not appreciate his current attitude to the directors, the company & it's reputation especially in the current unprecedented difficult times for all.

I look forward to getting out of my current paper loss as better time come with improved fundamentals from this start up company & hope to be here when the dividends start to roll in for many years to come.

I have no intention of reporting you.

Brighteye

I give you my personal assurance that I am nothing but a shareholder in UKOG with a current paper loss but try to to take a objective view having been a manager in companies for many years & had to try & understand how thing's work or leave due to corporate governance or company rules & structures which I have tried to encapsulate the ethics below.

The reality is that that larger UKOG becomes the more structure & decision that can occur.

FOTH while we have our different perspectives at the moment & your current anger I
think that the reasons are more likely corporate issues & the reactions to them as stated below & a major imbalance that needs redressing which is a issue for the renumeration committee unless SS overrules it & repays his bonus arbitrarily.

Unfortunately his achievements over the last 16 months from May 18 - 11 September 2019 can not be denied.

https://mobile.twitter.com/Adrianwfire/status/1272277018156171264

The CFO Kiran will not either.

I suppose a key question regarding the 2 bonuses for the CEO & CFO is was there a conflict of interests?

I appreciate this may not be the case with SS allowing share options to lapse after the 35% purchase of the Tellurian stake which was stated to bring a 69% increase in UKOG reserves at HH.

The problem is that until the CPR is published & the debt is repaid we as shareholders will not feel any benefit.

While everyone is complaining about SS receiving his bonus last year & personally feeling the justification on many grounds which I have previously posted.

The big question's that I have in my mind despite not knowing the criteria for bonus allocation & why did Kiran (UKOK's finance director & the only other Executive director) also not receive a bonus & the relationship of the companies finances due to payment of the CEO's bonus with non production cash flow which has required funds raised against equity.

The results of these actions with the effects of the purchase of Tellurian 35% stake through a CLN rather than a raising at the mooted 0.85p fundraising & Covid 19 have resulted in severe share price depression despite being in 2 different financial years which I believe that the BOD should bring financial security to the company & it's share price by issuing a HH CPR following a 2 year EWT, permanent permission at HH for 25 years & 6 well permission & production licence from the OGA especially before more dilution for other licences incurred against shareholders & the reunmeration committee & CEO can ensure this.

I think that the renumeration committee should take these considerations into account & look to redress this balance which at the present time seems to be working against share holders interests & give to directors targets that bring the promised value to shareholders which will also incentivise directors to take up the provided share options provided by the company & renumeration committee rather than eat cash that the company currently does not have as it has no cash flow. This cash would have been far better spent on the HH site upgrades rather than the current dilution.

The targets for bonuses are set not by SS or Kiran but by the renumeration committee which comprises of 2 non executive directors who are Nicolas Mardon Taylor who is the chairman of the renumeration committee & the company chairman.

Nicolas Mardon Taylor as a non executive director is up for relection this year & the fact that Kiran has not received a bonus last year says he has not met his set targets so I support his relection.

I probably like many other shareholders here are unaware of the length of service before relection the Chairman, CFO & CEO have to prevent a boy's club taking hold.

Can anyone please advise me when be relection is due for all directors & if Executive director targets are not met on a regular basis why they should be retained as a executive director?

I have tried to find contact details for Nicolas Mardon Taylor of UKOG to find answers to these questions but have not been able to find any.

Could anyone please provide his details or will the company have to provide them if requested as I have never yet received a response to a email enquiry to them which I am sure is a breach of their corporate governance rules?

https://publicaccess.iow.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=Q7DSVFIQ07V00&filterType=documentType&documentType=Public%20Comment&resetFilter=false

Can anyone tell me where the link is to put questions forward for the AGM. as it doesn't appear to be on the website.

Maybe we are not meant to find it or ask questions.

I think my first question is when will you add the promised net present value to the company through a new HH CPR covering all levels?

Is it not holding back price sensitive information from shareholders not to release the CPR after completing the EWT & now being in production?

After two years of testing of the Portland & Kimmeridge there should be enough data available & there is the ability to extract & ship it out as licences are now in place?

The directors want continued support to continue the future projects.

We as shareholders now need to the results of the support you the directors have received so far & that the commitments that you have made to us & been rewarded for are genuine & that this current dip in value is only temporary.

lonely_shooter

Can you smell something burning?

https://mobile.twitter.com/Anton13579/status/1271342038685024256

Thanks guys great work.

Great picture thanks to the eyes for your update.

I'm looking forward to the increased flow rates.

Thorpedo

UKOG shares issued to Tellurian for it's 35% of the HH licences.

275,988,960 on 11 September 2019
331,125828 on 2 January 2020
255,102,041 on 1 April 2020

Total shares of 862,216,829.

8 April 2020 TR1 Tellurian holding 514,102,129 with a 6.61% holding.

That leaves Tellurian share sales of 348,114,700 since 11 September 2019 on the 8 April 2020.

Thorpedo

You need to count the Number of shares issued September 19, January 20 & 31 March & then do the calculation.

hex314

Is that your prediction for HH1 Portland & Kimmeridge & HH2.

I meant 3500 with more wells drilled & producing as this is site equipment & assume it will cover more wells than currently in place.

Cardinal3

That excert was from UKOG RNS on 4 June below & yes as much as it may pain them I'm sure that they follow the posts on here.

I would go as far to say that I believe that there have probably been more replies from directors here than may have been received in sending a email to the company.

https://www.lse.co.uk/rns/UKOG/convertible-loan-opex-update-and-placing-f8ybxrf4z9ebgdd.html

All in my own opinion of course.

Brighteye

Having witnessed Adrian's conduct & treatment of his so called friends & colleagues nothing would surprise me but I am not beholdant to the troll so as so many have previously stated good luck to you while you are flavour of the month but beware the knives in your back!

Brighteye

With your 1st post is that the new FOTH ID.

None trust FOTH as he is a ramping turncoat in the same vein as DHC.

Fool news is not to be trusted as it lies against RNS's provided by the company for it's own agenda.

hex314

The key question is if the investment was justified.

If the 3500BOPD from the HH site is acieved & processed by the purchased equipment with a material reduction in the $13 Opex as stated the answer will be a definite yes & it would be great to see this repaid in cash not shares.

The question will be can leopards change their spots?