Member Info for wizard125

That rumour does the rounds from time to time.

The question is would I want to sell all our licence interests at such a low oil price & without a CPR without a major premium?

roganjt

The interesting thing to remember although many will dis it was SS's comment that his aim before the coronavirus was to have HH in full production by September 2020 there will be a delay but it will come.

Now it's 3 in today.

https://mobile.twitter.com/WealdOilers/status/1253255615843098631

Gl

https://mobile.twitter.com/Anton13579/status/1253241425816322048

Ohmetoe

Before this finance was announced there was talk of a placing & the share price had already touched 0.88 if I remember correctly although it did shoot up to 1.30p on the announcement of the deal. It had then come down as low 0.55 before touching 0.75 before the coronavirus & the lack of demand for oil.

I think you will find similar stories to UKOG share price on all small & medium oilers at present but personally believe that the extra 35% of the HH licences will be beneficial for shareholders once the financing is cleared despite the short term difficulties & Heid is already looking for a re entry point.

I'm not saying it is perfect but the question is what was the alternative with being the operator & problematic partners?

I also take your point about the water fix but ask you what would have happened to the share price if he had said that & then been able to fix the water. It is still unclear if it required a shortening of the well for the fix but it seems to flow which for me is better than a duster & will provide revenue for future development.

From my observations the last time this financing was used it had a similar effect short term before a bounce back before the HH EWT even when BB did not flow commercially. I expect a bounce & better later in the year as long as the economy starts to move again & Dunsfold & the IOW progress.

Pboo

Ukog As @Adrianwfire has blocked me, I can't see what rubbish he is spouting but I bet he is still deramping big time. Trying to lower the price for his big comeback.

The key question here is if SS stays on at UKOG what reason has FOTH got to buy back in as he has lost all credibility with his ridiculous posts as if he is above the board of directors?

FOTH cried wolf to many times & now has other interests!

Ohmetoe

I can understand your perspective on SS bonus & I have set out many of the reason below why I think that he deserves that bonus but there is one other key reason that I believe in that bonus which is because it is a one off bonus but the benefits of what has been achieved in that period will be with UKOG for it' lifetime in the making of the foundations.

I asked a question on this board during the set up of HHDL where SS was appointed Chairman of HHDL as to how he would be remunerated & if it would be 1 or 2 payments as he was effectively setting up another company & running 2 companies with what was described by some as a small company with only about 4 employees at the time.

I think we have all seen the successes of the HH EWT & IMO. SS has played a blinder ( I say this subject to a successful HH2 EWT, a successful HH1 duel flow & CPR).

The reason that I think the bonus is a great idea is that now that Tellurian's 35% of the HH licences & the HHDL partners & apart from Alba have been bought out HHDL is now a revenue producing subsidiary of UKOG & the subsidiary will now create value & efficiencies within the business that will not require wages to be paid as a separate company or higher wages for SS in the future apart from annual rises or other possible bonus's based on creating additional shareholder value not included here.

This has been quite a difficult period for shareholders taking this business from a start up, but as the cash starts to flow & RBL kicks in it will drive growth without the need for dilution & provide shareholder returns IMO.

Everyone is criticising SS constantly over his salary & bonus & not buying any shares in UKOG especially in such difficult times so I would be interested in posters comments to the board of directors being issued shares in lieu of payment while we are in this Coronavirus period & oil prices being so low.

This would have the effect of reducing outgoings & make the production costs lower & the profits on the cash flow higher.

I think that the directors have the authority to implement this following the vote at the EGM & this would be in the companies interest over the short term despite it creating some dilution.

But as we know SS likes paying with shares so in this instance what is good for the goose should be good for the gander!

nomlungu

If that is the case why have they only converted 1/2 the normal minimum that they can convert. Not the whole £3 per quarter the could?

More rubbish.

Ibug

If you were to read the RNS UKOG are reducing costs to essential workers only working from home which may mean furloughing other non essential employees at this time which will reduce costs as well as developing other oil service contracts to reduce costs further & make UKOG profitable even at low oil prices.

Great videos today of the 3 tankers.

The very interesting thing to note is the new tanker companies enterence to HH in which they do not cross the central white line on access which meets condition 8 of council planning.

https://mobile.twitter.com/Anton13579/status/1252577451575775232

Number 3 on Twitter just now.

Zoom

I think it may be that oil is being stored at HH as well as some shipped out on a daily basis.

If I remember correctly for HH1 there was originally 1900 barrel oil storage & at least 2100 barrel oil storage put in around HH2 so about 4000 barrel storage.

Not huge but it may play a part in better revinues as the price & demand increases as we start to come out of lockdown.

Trump topped up US storage with cheap oil from Saudi which will now of been the expensive option.

A sea of blue.

# Trades 180
Vol. Sold 3,128,377
Sold Value £8,603
Vol. Bought 39,510,981
Bought Value £108.66k

Phil G regarding your twitter comment below with investors following Adrian's advice do you think that now Adrian is ****ging UKOG off that investors who have followed FOTH advice may be able to hold him liable for there loses?

phil g
@philg_pic18f
·
Apr 18
Replying to
@Adrianwfire
and
@WealdOilers
Come on Adrian loosen up, 1000's of pi's have put money into UKOG soley due to you promoting it for the last few years. Should anyone develop depression or commit suicide from there losses will partly blame you. If youve nothing positive to add can I kindly ask you to Shushing face #ukog

Alba fundamentals before there latest fund raise even though they have not layer there share of development for HH.

Non-Current Assets
Intangible Assets 3.05 3.08 1.15 1.38 0.66
Property, Plant and Equipment 0.09 0.09 n/a n/a n/a
Investments 5.44 5.44 3.62 2.29 1.84
Investment Properties n/a n/a n/a n/a n/a
Other Financial Assets n/a n/a n/a n/a n/a
Other Non-Current Assets n/a n/a 0.01 0.06 n/a
n/a n/a n/a n/a n/a

Current Assets
Inventories n/a n/a n/a n/a n/a
Trade and Other Receivables 0.08 0.06 0.04 0.02 0.10
Cash at Bank and in Hand 0.21 0.59 0.63 0.67 0.29
Current Asset Investments n/a n/a n/a n/a n/a
Other Current Assets n/a n/a n/a n/a n/a
0.29 0.65 0.66 0.69 0.39

Other Assets n/a n/a n/a n/a n/a
Total Assets 8.87 9.25 5.44 4.41 2.89

Current Liabilities
Borrowings 0.14 0.29 0.25 0.25 0.25
Other Current Liabilities 0.36 0.49 0.18 0.38 0.08
0.49 0.78 0.43 0.63 0.33

Net Current Assets n/a n/a n/a n/a n/a

Non-Current Liabilities
Borrowings n/a n/a n/a n/a n/a
Provisions n/a n/a n/a n/a n/a
Other Non-Current Liabilities n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a

Net Assets 8.38 8.47 5.01 3.78 2.55

Capital and Reserves
Share Capital 4.58 4.10 3.09 2.65 1.99
Share Premium Account 7.13 6.79 4.66 3.47 2.59
Other Reserves 0.95 1.02 0.63 0.94 0.83
Retained Earnings (4.27) (3.17) (3.10) (3.31) (2.88)
Shareholders Funds 8.39 8.73 5.27 3.75 2.53

Minority Interests / Other Equity 8.39 8.73 5.27 3.75 2.53
Total Equity 8.38 8.47 5.01 3.78 2.55

29 Nov '19 29 Nov '18 29 Nov '17 29 Nov '16 29 Nov '15
Operating Margin n/a n/a n/a n/a n/a
Return on Capital Employed (24.02%) (1.32%) (12.60%) (16.23%) (13.55%)
Dividend Cover n/a n/a n/a n/a n/a
Dividend Yield n/a n/a n/a n/a n/a
PE Ratio n/a n/a n/a n/a n/a
PEG n/a n/a n/a n/a n/a
Dividend per Share Growth n/a n/a n/a n/a n/a
Net Asset Value per Share 0.14p 0.14p 0.10p 0.06p 0.05p

My understanding of UKOG's last cash call from Alba was for £210,000.

What do you see if you look at Alba fundamentals from November 2019 for cash at the bank?

This is only a matter of time & patience.

Watch this space & remember time & price is relative even if it looks & feels painful at the time hold on tight!

Skwizz

Is that thought for a short, medium or long term revinue basis or for a net present value basis which would detemin the level reserve based lending & future growth parameters for UKOG or future buyout value that without a CPR can not be determined?

Sorry that was 23 February 2018 not 2019.