Uk Oil & Gas Share Discussion Threads

[datait] 09/5/2017 15:00

Why would this be leaked before the fund raise has been complete ? The reason for this is that the share price will fall back dramatically and the purchaser will buy considerably less taking the share price well below 1p.

Watch this space this is now in free fall till news is confirmed.

[datait] 09/5/2017 14:59

UKOG notes the recent media speculation regarding a proposed fundraise and can confirm that the Company is currently meeting with potential new institutional investors, to fund the Company's stated growth strategy, with a target of achieving significant stable oil production by the end of 2018.

The potential funding would be utilised to carry out the exploration and appraisal drilling plus long flow testing activities, which is expected to begin by the end of Q2 2017 on Broadford Bridge.

To fulfil this part of the Company's strategy, this will require a fundraise of a minimum of GBP6.5 million. At this point, the pricing has not been finalised with any potential investors, but the Company expects pricing to be determined using typical market practices.

To date the Company has received positive feedback from its roadshow nonetheless there can be no assurance that the proposed placing will be successful. A further announcement will be made in due course.



Why would this be leaked before the fund raise has been complete ? The reason for this is that the share price will fall back dramatically and the purchaser will buy considerably less taking the share price well below 1p.

Watch this space this is now in free fall till news is confirmed.

[markycrispy] 09/5/2017 14:57

Just relax if you aren't over committed then this is part of a small companies strategy to get where they need to be.I take no notice of people on here who don't have inside info so let's see where we are in 3 months.

[funkmasterp12] 09/5/2017 14:54

Plenty of cash to see them through to production, eh moneymunch?

Inevitable. Why are they not using the loan facility on offer to them though? I suppose it's easier to farm out shares to be sold on.

[datait] 09/5/2017 14:46

There you go as I thought confirmed will go under 1p. I also said SOLO is the best option at this stage as they have fallen already and levelled out and now due to rise again and they have more news to come.

[datait] 09/5/2017 13:51

I think SOLO is the best bet at the moment as it has alot more going for it and there will be a placing here so I expect this to fall under 1p were as solo has already fallen a good bit and now started to level out and now due to move on back up.

[datait] 09/5/2017 13:34

A placing is due for UKOG

[datait] 09/5/2017 11:34

Think mm's will drop this under 1p before any news to take out stop losses hold tight tho.

[markycrispy] 08/5/2017 09:35

Famous last words !

[broncowarrior] 05/5/2017 11:27

Starting to look cheap?

[activeservo] 03/5/2017 16:33

-2%..AIM surprised me today, especially for an oiler. A share price response that was consistent with the news.

[rayrac] 03/5/2017 08:27

If you want to be unpopular, try drilling on-shore in the UK. That's why the BP's of this world leave all the hassle to the little uns. Then should they ever make a large find..take them out.

Easy peasy?

[markycrispy] 03/5/2017 08:11

It's broken a key support level so we need some sort of a bounce to avoid it going to under 1p - I am not over exposed so not a problem and will be seeing it out for the long term

[activeservo] 03/5/2017 08:00

It's nothing. Happens all the time with planning. Much better news than a refusal!

[markycrispy] 03/5/2017 07:56

Shame he didn't mention the delay - probably going to tank today but will top up if it does

[mikeygit] 02/5/2017 20:21

Had a very interesting response from Mr Sanderson to an e-mail I sent him. Good that CEO´s do respond to shareholders correspondence.Again he confirmed their intention to have oil in production by end of 2018--a little more patience!!

[top tips] 28/4/2017 12:15

Not forgetting:

- Two Kimmeridge Limestone wells to be drilled in H2 2017 (Broadford Bridge-1 + Holmwood-1). Both are Horse Hill-1 geological look-alikes, which is their recent discovery that flowed at a record rate for any UK onshore discovery well. All planning permissions are in place.

- Drill further Kimmeridge Limestone well in H1 2018.

- Achieve full commerciality in 2018 (in addition to their ongoing investment income from other producing wells).

"Our portfolio also provides a solid underpinning of undeveloped oil discoveries, which along with our Kimmeridge Limestone projects, are economically robust at current Brent crude prices. We have a clear business plan, and the technical and operational expertise to make UKOG into a significant onshore producing oil company by end 2018...

...We have built a portfolio that has the potential to generate significant returns for the Company and its shareholders." Feb 2017

[activeservo] 28/4/2017 09:55

Should ride up on speculation over gov decision in July. That's what I'm hoping anyway.

[spandy83] 21/4/2017 18:34

Thanks for the honesty and responses guys... the point about the long term is a fair one, but I think I'll hold back a little while and see what happens... will keep watch :)

[funkmasterp12] 21/4/2017 17:11

They already have a debt facility they can draw from, but it means issuing a hell of a lot of shares.

[activeservo] 21/4/2017 17:10

My view is there's no point speculating over funding. Every AIM share needs it! Unless you have inside knowledge, we only find out once the deal is done...

Best to take a view on the company's potential growth and revenue stream.

Note, nowadays operators are starting to obtain more reserves based lending from banks (they also want in on the action), so this is just another funding method which UKOG may seek which avoids issuing shares...

[funkmasterp12] 21/4/2017 15:57

Spandy - that's the golden question. They are low on cash. They have a debt facility open to them of (from memory) c. $7m but they've preferred placings in the past. Hence why I think more dilution is inevitable and now is not the optimum buying point, IMO.

[stefaniasb] 21/4/2017 15:21

VIDEO CEO Andrew Bell on the spot + talking on HH MUST WATCH

[spandy83] 21/4/2017 14:14

Hey guys, considering going dipping my toe in here (although may wait til after general election just in case the Greens win lol)Been reading through stuff but wondering if anyone can tell me how UKOG are going to find the upcoming Drilling? Cash was $2m at end Sep 2016? Was there a capital or debt raising that I'm missing?