Member Info for ZYX098

To be fair, buying £1 of shares does show a level of commitment and confidence in the future of UKOG....

Fantastical,

Yet those that have been on here for several years have been proved correct time and again, because we don't ignore the basic facts that go against the narrative - unlike the ramptastic crew who turn up on here for every P&D.

Usually it's the same players with new ID's, but they always have the same message "Look over here! Jam tomorrow guaranteed! No, ignore the naysayers, we are right this time - promise!"

Like now.

The Company is loosing money, and has been for years. Anyone who reads the annual reports can see that.

It's also why placings are required at regular intervals - intervals that are becoming shorter as the continuing fall in share price means less money is raised each time.

"JV news soon" has been used as a "nailed on" promise several times before. For many, many Moons, it was going to be BP or Shell, because HH was such a good deal.

Of course, the JV never materialised.

As has been clearly explained several times, UKOG can only apply for funding from the Govt if they satisfy criteria clearly laid out in the strategy documents - and UKOG will not be able to satisfy those criteria for the first round - if ever.

The LOS aren't worth the paper they are written on, as they don't give any binding or contractual commitments to UKOG.

Actually, the one LOS they do need, but have kept suspiciously quiet on, is from the landowner(s) of the proposed sites.

Even if the Govt decided to back UKOG (and the reasons why they shouldn't have also been explained), the cash would not be forthcoming until Q4 2025 - by which time UKOG will have long run out of money and needed to get at least one placing away just to keep the lights on.

Ignored by the ramptastic crew, the least three months released production figures show that UKOG's major asset - HH - has seen a step change in water production, along with a significant decrease in Oil production. If that trend continues, it won't be long before the operational costs exceed the revenue.

Of course, that would have been less of an issue if UKOG had converted HH-2 to water injection, like they have permission for and stated they would do.

Also ignored is the estimated £1.1 Million in liabilities for the P&A and site restoration of BB-1.

Something they may be forced to commence the planning for within six months if they don't appeal the Sussex CC ruling and UKOG don't have the money for it.

Skwizz,

Let's be honest - they never were the sharpest tools in the shed, were they?

Fantastical,

Do any of the LOS's provide any sort of binding agreement with UKOG? No.

Do any of the LOS's provide any sort of contractual commitment to UKOG? No.

Do any of the LOS's provide any sort of guaranteed financial support to UKOG? No.

The reality is that the LOS’s aren’t worth the paper they were written on.

An LOS written by anyone posting on this board would be just as ‘valuable’.

Why on Earth would Shell be interested in forming a JV with a Company that's a serial failure, has no money, whose MCap is c. 0.002% of Shells and has no expertise in H2?

GW71,

He's already started the attempt at bullying, by threatening Lawsuits on another thread.

Straight out of his past playbook(s)....

YeeYee,

The phrase "Pot, meet Kettle" comes to mind.

Actually, your claim of others manipulating the market and threatening lawsuits sounds remarkably like a previously banned poster......

yeeyee,

if (and it's a huge if) they get govt funding, it won't be until h2 2025 and it won't be the £1 billion needed to fund the construction costs.

nothing about their (admittedly sp****) plans indicates that the surface facilities will be modular - and why would they significantly increase costs to go that route?

ukog might have enough from the recent placings to keep the lights on until then - but only if hh somehow gets back to it's previous performance.

if hh continues as it has for the last three months notified production, the increasing water cut will spell the death knell for the field.

you are still grasping at straws.

buddy....

YeeYee.

Nonsense.

The Restaurant claim they are in discussions to convert to a hydrogen outlet ten years from now - if they get 200 times what the Company is currently worth in backing.

In the meantime, they'll still be serving the same food for years to come - unless they go bankrupt first.

1vilan,

Looking forward and not back is commendable.

But looking at the history should also be part of your evaluation.

After all, if you went to a Restaurant six times, and six times the food was awful, wouldn't you take that into account if someone suggests meeting there?

Or would you keep going back on the premise that "well they've brought in a new dish, so maybe this time will be better."?

Maidit,

While they were irritations, the slow walking was nothing more than that.

Even the recent absurd SC decision hasn't actually stopped them from producing or doing anything else - we are still waiting for the conversion of HH-2 to a water injector.

What had far more effect on the UKOG share price was the serial and continuing failure of UKOG to meet the expatiations they set out in RNS's, either in the field performance or the time-lines they laid out in which certain milestones would occur. .

HH as a field has performed poorly, now down to less than 30 BOPD, never getting close to being able to achieve the promised 3,500 BOPD.

The Kimm production has failed to materialise at all - although UKOG have never said why despite misleadingly good results on test as reported in the RNS's and saying that they would recomplete HH-1 as a dual Portland / Kimm producer.

A catastrophic CPR put paid to any hope of Loxley being farmed out (now over 2 years since their "pre-planned farm out" was initiated.

The failure of Turkey - which several of us pointed out was a huge mistake when it was announced, as they should have concentrated their limited resources on HH. It was never going to contribute significantly to their bottom line, as examination of offset information showed. It certainly wasn't going to be the game changer UKOG stated when they tried to imply that the area was analogous to the huge Kurdistan fields.

The Board & Executive Directors have not shown any faith in UKOG by either buying shares, or taking some of their salaries in shares. The only Board Member to ever voluntarily buy shares in UKOG was KM - and he has taken a real bath on them.

SS only bought a minimal amount when he needed to save his skin, when the "SS out" campaign was beginning to get u some steam - and he has taken a bath on them too - although being able to continue to draw his £300+k annual salary more than compensated for the £12k it cost him.

It should be a big red flag that a Company with a producing asset still needs to raise money with placings (i.e. it's Overheads were so high they outweigh the profit from production), but that hasn't stopped the ramptastic crew from sucking in the unwary PI's with P&D's on a regular basis - the last one based on the fantasy that UKOG will get Govt money for an H2 project that in any case won't be cash generative for a decade being the latest excuse.

Considering the number of times you claim that you can't get a quote to buy - when everyone else can - suggests that either;

A) You have a lousy broker

or;

B) You are lying.

Given how 'accurate' your other claims and forecasts have been, I know which my money is on....

I suspect that they'll get far less of a subscription than they are hoping for.

Last time I think it was around 10% of the amount of shares on offer, and judging by the comments some have made, several of the large Nominee outfits (including HL) aren't taking part anyway.

You missed a couple of important points - if your diesel or petrol tank leaks, then the fuel and fumes will be there for hours until the leak is discovered. During this period, the fumes will flow downhill (heavier than air) and if they find an ignition source, will ignite the whole fume trail.

This is why there have been cases where someone drops a cigarette on the ground and a garage half a mile away blows up.

Also, the hydrogen tanks on H2 powered vehicles have specifically designed safety systems, such that if even a small leak is detected, the entire tank is immediately vented to atmosphere.

Because it is so light, H2 will disperse in seconds - even in a nominally 'closed' environment of a garage.

This is also why H2 powered vehicles in an accident are actually much safer from a fire perspective - because the potential source of fuel for a fire is immediately vented and dispersed in a few seconds. Not the case with diesel, petrol or even battery powered EV's.

There have been H2 fuel cell powered vehicles on our roads for years - including buses and lorries. H2 powered trains are currently on trial in Scotland.

Jaffy,

According to rampers, posting negatively is 'deramping', so by the same logic, posting positively is ramping.

More than a little ironic that you claim it's a pointless accusation - and then promptly make a pointless accusation yourself.

Logic not your forte, is it?

Jaffy,

So you first accuse someone of being a manipulative shorter - basically saying they are affecting the share price - and then later you claim they aren't important - basically saying they can't be affecting the share price.

So which is it?

Jaffy,

Accusing someone of being a manipulative shorter comes under the "Libellous / Defamatory" category

if a post is reported - so you shouldn't be surprised if it gets taken down.

And I see you haven't answered my post.

Typical behaviour for the ramptastic crew - try and cast aspersions on the character of some posters and ignore those posts that they can't answer...

Maidit308,

If the time and date stamp on those trades is correct, then it looks like they are more likely to be sells at those prices?

Irrespective, since 'ordinary' buys and sells are reported more or less in real time, you have to wonder why such large transactions are not reported promptly unless it's deliberate attempt to manipulate the market by someone (Shore Capital dumping?).

Not sure that drawing Ed's attention that you've just needed to do a placing of £1 Million, when you'll be asking for money for a £1 Billion project is a good idea.

Jaffy,

Perhaps you could instead describe why you think Penguins is an "unscrupulous shorter"?

Writing factual posts about what is (or is not) happening with UKOG isn't shorting.

Those of us who have being pointing out the difference between what UKOG say and reality (or what they say they will do - and then don't..) have been proved to be correct on virtually every occasion over several years - even though we get quite vitriolic abuse for doing so when the ramptastic crew turn up in yet another organised P&D.

After all, at least one of the "derampers" was posting last week that there would be a placing in the near future and why a placing was needed...