Member Info for ZYX098

Rocky's wife claims that DL is somehow "in the know", despite being an ordinary share-holder.

And since DL is in Australia and therefore at least eight hours ahead (if he's in Perth), DL will be able to sell his shares long before Rocky's Wife.....

In cased anyone is interested;

https://en.wikipedia.org/wiki/David_Lenigas

I especially like the last paragraph, where he brought a libel case and lost....

Just to show I can copy and paste as well as Rocky's Wife;

From DL's Wiki page:

Corporate Governance Related Criticisms
He has been accused of frequently "promoting a company, pushing up the (price of its) shares, then raising cash by placing new shares — and (thus) diluting the holdings of the early investors",[14] described as "a familiar tale with most companies he promotes".[15] His defence has been that "You can’t build a business on bottle tops.".[16] Furthermore, he has argued that it's not accurate to claim that "all his ventures have turned sour".[17] Although finance commentators have noted that most of the "hundreds" of companies he has been involved in, and "stock promoted" for, have failed to generate any successful shareholder returns.[18]

In 2009 he was one of a group of claimants, claiming that he had been libelled when an investment publication in South Africa had described the group of executives of one of Lenigas' ventures as "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders."[19] The High Court of Justice of the United Kingdom rejected Lenigas', and the other claimants' libel claim, and found in favour of the publisher.[20]

Still not filtered me then ;)

Just a reminder, I posted this about Finch....

Fact:
UKOG have had all the permissions they need for months - they just haven't done anything and it will make no difference to UKOG's plans when she looses (which, thankfully, she will).

Still not filtered me then!

DL is a hemp grower, not an O&G man.

He can't own that many shares, as a TR-1 is required, or he's being economical with the truth - which of course he's never, never, ever, ever done in the past...........

Remind me why he had to sell up all his Directorships and return to Aus again?

In the meantime, I'll just leave this excerpt from his Wiki entry....

Corporate Governance Related Criticisms
He has been accused of frequently "promoting a company, pushing up the (price of its) shares, then raising cash by placing new shares — and (thus) diluting the holdings of the early investors",[14] described as "a familiar tale with most companies he promotes".[15] His defence has been that "You can’t build a business on bottle tops.".[16] Furthermore, he has argued that it's not accurate to claim that "all his ventures have turned sour".[17] Although finance commentators have noted that most of the "hundreds" of companies he has been involved in, and "stock promoted" for, have failed to generate any successful shareholder returns.[18]

In 2009 he was one of a group of claimants, claiming that he had been libelled when an investment publication in South Africa had described the group of executives of one of Lenigas' ventures as "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders."[19] The High Court of Justice of the United Kingdom rejected Lenigas', and the other claimants' libel claim, and found in favour of the publisher.[20]

~~~~~~~~~~~~~~~~~~~~~~~
Right, time for breakfast.

And yes, I'm not in the UK at the moment - you were probably so self absorbed posting your own BS to notice that I disappeared for a couple of weeks. That was because we ran into problems on the Rank WildCat Exploration Well we are drilling, and I had to fly out and lend an hand.

But don't worry, I'll be back around the 18th :)

Nope, you still haven't filtered me, because you've replied to me on other threads.

Still resorting to cheap insults.

Still no cogent thought in your replies.

I've (and others) posted several times the hard numbers (and their annual reports!) as to how UKOG are not making money.

And you have never responded with anything other than cheap insults.

So do you really think that posting a tweet from another UKOG shareholder is going to change that?

Remember, he gave up his Directorship several years ago, so has no more information that the rest of the general public.

See, told you you hadn't filtered me.

I notice you aren't denying what I said - because you can't.

And yes, unlike you, I actually work in the oil industry, which is why it's so easy to call out your BS.

It's supremely ironic that you are the one who uses fake ID's over and over again to relentlessly spam this board with rubbish, even answering your own posts (very, very weird that...), yet you call others "pathetic trouble makers"?

Oh, and since DL holds less than 3% of UKOG, he isn't classified as a 'major' shareholder, otherwise a TR-1 would have to be issued, hotshot.

But then again, facts and your reality very rarely meet, do they?

Oh, and you won't have filtered me.

That's just your excuse to run and hide because you can't stand it when you are called out on your BS and you have no answers.

So exactly what disgusting lies have I posted about others?

Go on, point them out.

And yet again you resort to the trope that anybody who disagrees with you is a green - even me who has worked in the industry for over 30 years.

Pathetic.

"Maybe drill another low cost Turkey well if flow rates are good to pay for the new Kimmeridge well in September"

Just shows how clueless you are.

It's a huge leap to go from a shot hole that produced oil AND water, to producing the c. £7 Million needed to drill a Kimmeridge Well.

Even presuming zero cost of production and no taxes to be paid, they'd still need to average over 1,300 BOPD between now and then to raise that cash.

Oh, and they wouldn't be able to move the money out of Turkey anyway - have to wait until they'd submitted at least one set of annual accounts before the cash could be re-patriated back to the UK.

Besides, if they really were doing that well in Turkey, why would they want to send cash back to the UK to drill a Well into a formation that they have already said is uneconomic.

So in other words, yet another hopeless BS ramp from Rocky's Wife.

Annnnddd, as usual, no reasoned, logical, well thought out point by point rebuttal, just resorting to cheap insults.

So predictable.

Using old, discredited data to promote the share - tick

Relentless ramping from Rocky's Wife - tick
(BTW, answering his own posts? How very very weird...)

Sudden appearance of posters with unduly optimistic outlooks, who don't normally post here - tick

Fiction from Rocky's Wife:
Sanderson might not be buying shares in UKOG any more because they are in a closed period.

Fact:
If UKOG went into a closed period, they'd have to announce it to comply with market regulations. They have made no such announcement, so the reason Sanderson has stopped buying is he doesn't believe in the Company.

Fiction from Rocky's Wife:
DL is a "major" shareholder in UKOG.

Fact:
He must hold less than 3%, otherwise it would have to be announced to comply with market regulations, so he can't be a "major" shareholder.

Fiction from Rocky's Wife:
DL has the inside track because he used to be a Director of UKOG and knows how they work

Fact:
DL is now an ordinary shareholder, no more, no less. If he has insider knowledge, then he (and whoever in UKOG told him) are breaking market regulations. BTW, remember DL's knowledge was so hazy, he continually referred to the "Kimbridge reservoir" in interviews.

Fiction from Rocky's Wife:
Sarah Finches Supreme Court case is holding up UKOG's work program.

Fact:
UKOG have had all the permissions they need for months - they just haven't done anything and it will make no difference to UKOG's plans when she looses (which, thankfully, she will).

Fiction from Rocky's Wife:
Finch's Court case being thrown out will allow UKOG to unleash the potential of the Kimmeridge at HH and BB

Fact:
UKOG themselves have stated that the Kimmeridge at HH & BB is uneconomic in their submissions to SCC.

Fiction from Rocky's Wife:
There are Billions of BBLs of recoverable oil in the Kimmeridge under UKOG's licences.

Fact:
I refer you to my last point, and the complete lack of any CPR that UKOG have issued attributing reserves to anything other than the Portland.

His tells give him away.

Every.

Single.

Time.

I wonder how long this particular nom-de-plume will last?

Probably long enough for him to spam the board with pointless posts, insult other posters and generally make a nuisance of himself, I suppose.

And yet he accuses other posters of very very weird behaviour?

Justbe,

Maybe he has finally been tossed, hence the new ID?

I got put on the naughty step for 24hrs for "disruptive posts", and if I got 24 hrs for what I posted yesterday, he should have racked up enough for several lifetime bans.

Oh, wait, he already has a lifetime ban from LSE...

Penguins,

Roughly translated it means that the NSTA are fed up with UKOG's continual delays in their announced work programs (have they ever done anything when they said they would?), so this is the NTSA way of giving UKOG a last chance to drill, or they will indeed loose the licence.

After all, UKOG put up four RNS's which show;

A) They can't reach the Basur target from the current location - if indeed the structure really still exists now they have the processed seismic.

B) They don't have enough money to build a new pad and drill a new Well on Basur, so are trying to deflect attention by drilling a post hole to tap into an oil seep - and as any G&G type will tell you, drilling a surface oil seep is pointless, as the seep shows the main trap has already been breached.

C) The shot hole produced a mixture of oil and water. On a reasonable well with a decent structure, you could claim that you have drilled through the OWC and are producing from both. But from a shot hole only a few m deep? It means that any oil leg is very small indeed and clearly cannot be produced economically. So why bother? Because they can drill a cheap Well and issue a very carefully worded RNS claiming a new oil discovery, when it will never produce - a bit like the Kimmeridge at HH and BB, apparently (still waiting for UKOG to tell us why the Kimm is uneconomic at HH after such good initial results)...

C) Turn a 10 min meeting with the Energy Minister into a very carefully worded RNS which doesn't actually say the EM endorsed their H2 plans. After all, why would said EM support a Company who has a spectacular track record of failure?

D) Again calls Loxley a "gas discovery", when there is very little evidence to back this up - even their own pet Reservoir Analysis people wouldn't issue a CPR or even guess a reserves estimate as UKOG just don't have the hard data to back up their figures. In the meantime, the RNS makes it clear that they've been given a kick up the backside from the NSTA to either get on with actually doing some work, or give up the licence. As for the 'pre-planned farmout' - clearly not as advanced as certain posters would have had you believe, otherwise it would have happened by now. In fact, having to issue such an RNS is a good indicator that they've had no interest from anyone in farming in and now have to either give up the license or issue a shed-load of confetti to raise the funds - and oil industry costs are rising steeply at the moment - the spread rate for the project I'm doing has gone up by 20% in just the last eight months. Tangibles also up by 20%, while some consumables (especially mud products) have gone up by almost 40%.

So why is Sanderson a friggin' genius?
Not just because of the fact he continues to pay himself almost £1,000pd.
Or that he stopped buying UKOG shares with his own cash as soon as he could with little comment from the gallery.
But he managed to produce 4 RNS's which show what a dismal failure UKOG has and continues to be under his stewardship, yet some posters still believe that he is the Messiah!

BTW, any word from Adrian as to why his prediction of the November production figures was so far out?
Or has he gone quiet and hoped that we'd forget?
The latter?
Thought so.

He'll be gone in the morning - he categorically gave the game away with respect to his true identity in a post he made last night.

I must apologise to the rest of the board for not reading it sooner, so he was able to spend today spamming it with more absolute rubbish.