Uk Oil & Gas Share Discussion Threads

[hans christian andersen] 28/6/2021 13:49

I have 3 criteria for putting on filter;

mad as a hatter
worst pundits ever
children

Some fall into all 3 groups

[bionicdog] 28/6/2021 13:43

JC says 0.4p , watch and learn.

[hans christian andersen] 28/6/2021 13:36

Cheers HITS

My daughter has just messaged me about pop ups on her phone saying she is sitting on a geothermal goldmine!!! LMFAO

SS. Was he a failed double glazing salesman?

edit
PS Closed on Friday at 0.21p. What do you reckon it will close at today? I'm going for 0.21p.

[headinthesand] 28/6/2021 13:27

HCA, I worked the maximum possible figures out re the UKOG directors' share purchase scheme.

The combined total of those salaries on a monthly basis, nett of tax and employee NI contribution is around £28k per month between the four of them (with the majority of course going to Sharecoin Sando).

So, presuming that none of the four directors makes any voluntary monthly pension contributions (staggeringly unlikely, but let's run with that) and that none have anything like private health cover part or fully funded by the company (who knows?), the absolute maximum value of shares to be bought in total by the gang of four per month (presuming they all went for the ceiling level of 10% of nett salary) would be...

£2,800 worth of shares between them per month. At today's pre-placement/dilution price, that'd be roughly 1.3 million shares in total, or a ten thousandth of the shares in issue today...

I'm actually expecting it to be around half that value. The directors have very clearly never wanted to buy in (they're not that stupid) and they've only come up with this paltry skin in the game scheme because they've been forced into doing the barest minimum by shareholder pressure.

Well under 3 grand a month in total? That really isn't going to change the price of cocoa.

[cyan] 28/6/2021 12:26

Good afternoon HCA

The one thing you can guarantee with UKOG is that they are rather selective with the information they release; some might categorize their news management as less than entirely frank or timely.

The drilling result RNS will need a very careful read. Its almost certainly going to commence with the line 'UKOG is pleased to announce'. UKOG use the word 'discovery' VERY liberally as evidenced at BB.

The longer and more technical the RNS; the more likely it is to have buried bad news, imo.

Sanderson really needs Basur result to be/appear positive.

Its incredible that AME & UKOG were less than 6 hours from the drilling dead line.

I wonder if UKOG are having difficulty placing more shares.

How long before AME starts to lose patience and resort to legal of other penalty actions for UKOG's failure to comply with contractual commitments to fully fund the drill?

21st May 2021

"In order to deliver the Company's stated strategy and growth objectives, it will require further funds in the near future for, amongst other things, its funding obligations under the agreed work programme for the Resan Licence and any of the new Application Blocks should they be awarded to the Company and its partner."


The last resort remains; death spiral

[hans christian andersen] 28/6/2021 12:14

Gross
Stephen Sanderson £298k
Kiran Morzaria £115k
Allen D Howard £54k
Nicholas Mardon Taylor £49k

These are last years salaries. Anyone got any idea what deductions they get. I can think of tax, NHI, pension and WPS but have no idea what they are likely to be apart the pension which is listed in the annual return. Just trying to get a feel for what we can expect next week when the BoD declare how many shares they have bought.

[hans christian andersen] 28/6/2021 11:52

cyan
They have neglected to say when the other 11 wells were drilled in the licence area apart for Basur-1 (1964) and Konakli-1 (2014 so quite modern).

[bionicdog] 28/6/2021 11:30

Looking forward to JC apologising later.

[cyan] 28/6/2021 11:03

On 21st June UKOG tweeted;

"Basur-3 will be the first modern well designed to properly appraise and assess commercial viability of the Basur-Resan oil pool."



We know there were a number of historical drills in the area but UKOG only give partial details of one test.

Common sense tells you that if the area was an obvious hugely valuable prospect; others would have been prepared to stump up the cash and drill again, years ago.

The 'commercial viability' remains in doubt; its not quite the likely massive oil asset some like to present; its a calculated 'roll of the dice' as Sanderson himself put it.

In a few weeks we will have a pretty good idea IF the gamble was worth it.

[johncasey] 28/6/2021 10:25

only because of crooked j boys lehmans and contrived 2008 crash

[bionicdog] 28/6/2021 10:20

JC believes that the commencement of something that we knew was going to happen leads to a 100% rise. Mind you , he did lose his house and end up living in a car. Watch and learn.

[iammrweald] 28/6/2021 09:46

Ssshhhhh! he he
Kurdymummy..like your style...

[hans christian andersen] 28/6/2021 09:45

The more the merrier. We should be encouraging the muppets to buy now. Drill should have reached touchdown in January so it will only be 7 months late. Not bad for UK standards.

[bionicdog] 28/6/2021 09:43

They are hoping to strike a new rich seam of idiots.

[cyan] 28/6/2021 09:38

Good morning bionicdog

You wrote; "As predicted , just in time to keep the license."

They really did pull all the stops out at the last minute so the 27th was a deadline of serious concern. The drill should have actually started months ago; it should not have come to this last minute panic. UKOG's financial weakness appears to have been an impediment.

I remain convinced that AME have been forced to offer support to UKOG who still have 'near term' working capital issues that do not cover the drilling. If AME did not offer effective bridging support they risked the whole licence.

UKOG must have hoped that a significant spike on spud news would make getting the placing away easier.

Guessing the timing of the placing has been challenging, but it really can not be too far away now.

[kenbos] 28/6/2021 09:29

What is happening at hh that was supposed to be the big one now it's not mentioned

[bionicdog] 28/6/2021 09:00

Can we hold you to that?
Can we hold you to the ice age predictions?

[johncasey] 28/6/2021 08:58

delayed reaction ..0.4p by this afternoon

[bionicdog] 28/6/2021 08:55

Huge oil company?

[kurdmam63] 28/6/2021 08:45

I am TONY. TONY.

I talk regularly with all past and present UKOG directors,and they are all my friends.

They know I post here, and are still more than willing to divulge market sensitive information to me, so that I can trade on it, and dob them in at a later date should it suit me to do so.

They are so clueless, yet they somehow have managed to be directors of a huge oil company!!!

What a laugh, I'm streets ahead of all you suckers.

[iammrweald] 28/6/2021 08:11

That's the ticket!