UK Oil & Gas (LSE:UKOG)

Discussion in 'OT (OFF Topic) Forums' started by Red C220, Jul 15, 2017.

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  1. Red C220

    Red C220 Hardcore MB Enthusiast

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    I play at stocks and shares, it isn't an income for me as such, more a hobby.

    For those of you that like to dabble and may not have come across this one, it's an AIM share. Basically that means it's a bet (gamble) rather than an investment, but that's what I like, I do this as an alternative to poker etc. If investing in sure things is your bag, look away now, this isn't for you.

    However, if you like a punt, potentially (that's a very big IF) this could be one of the largest onshore oil finds in Europe and it happens to be in the South East of England. UKOG is best placed due to market cap and the fact it owns 100% of the drill site it's currently developing plus other sites.

    This has the potential to be a game changer for UK PLC (in tax revenue alone) if it turns out to be anything close to what is being speculated.

    I'm in for quite a lot of this one and next week could be big news.

    Disclaimer:- Do your own research, don't trust a random bloke on a car forum on the interweb.
     
  2. grober

    grober MB Club Veteran

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  3. neilrr

    neilrr MB Club Veteran

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    Mark Twain said the definition of a mine is "a hole in the ground with a liar standing next to it."

    Same applies to oilers, ESPECIALLY those that have had Dave Lenigas involved.
     
  4. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    Indeed, that's why I described this as a bet as opposed to an investment.

    Lenigas is no longer CEO of UKOG, but he is undoubtedly involved in the discovery via associated other companies. He's now championing Doriemus.

    Flow testing starts next week I understand from the RNS yesterday.

    I bought the following:-

    605131 shares @ an average of 1.2287p
    549502 shares @ an average of 2.8999p

    Lets see what happens, it will either be worthless or it won't. But this is one pie I'd prefer to have a chubby finger in rather than watching from the sidelines. Short term I'm looking for 6p at which point I'll top slice my original buy in and free roll the remaining.
     
  5. french

    french Hardcore MB Enthusiast

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    Hmmm all this makes LadBROKE & William Hill seem like benevolent charities...buy a new toy instead...
    On AIM..."Nothing is real ....ask xel shareholders what fun they are having ...I'll take Dodgey Donkey in the 3:30 @ Southall...

    ...XEL(xcite energy Ltd),
    https://www.shareprophets.com/views...ation-another-one-bites-the-dust-next-up-igas

    Afren,
    Failed oil producer Afren, which collapsed into administration last year with debts of £1.3bn, being investigated by Serious Fraud Office | This is Money


    Gulf Keystone Petroleum Limited
    https://www.shareprophets.com/views/25304/gulf-keystone-kicking-small-shareholders-in-the-********
     
    Last edited: Jul 15, 2017
  6. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    ^ Like I said, it's a bet it's not a sure thing. Sure things come with a 1.5% return.

    Bet's come with bigger returns or total losses. That's the gamble.
     
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  7. 190

    190 Hardcore MB Enthusiast

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    A few years back I thought the world was always going to need oil and gas so I bought into BP just before the Deepwater Horizon spill :doh:

    I still have them though as a long term investment for the dividends. My best long term investments over 20 years have been National grid and and L&G. My portfolio overall has beaten the market which is a result I'm happy with. These days I rarely trade and only in the big dips. Perhaps I should set a sum aside to play with.
     
  8. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    This describes what I do, I have a sum set aside which I play with. I'll never be rich, I'll never go broke. If I get lucky it'll clear my mortgage and some, if I pick a bad one I lose less than the depreciation on either of the cars I currently own.

    That's my comfort zone.

    Just don't play with sums of money that can effect your life or health and it isn't a problem.

    This is effectively an alternative to poker for me.
     
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  9. french

    french Hardcore MB Enthusiast

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    "Living is easy with eyes closed." >>Let me take you down as I'm going to...Lol
     
  10. markjay

    markjay MB Club Veteran

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    I bought lastminute.com shares just before the .com bubble burst in March 2001....... luckily for me they were over-subscribed when going public so I got a much smaller share allocation than what I originally made an offer for. Phew.
     
  11. neilrr

    neilrr MB Club Veteran

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    https://www.shareprophets.com/views/30382/deja-vu-at-uk-oil-gas-a-sell

    Déjà Vu at UK Oil & Gas: A Sell


    By Lucian Miers | Monday 17 July 2017

    In April 2015, at Waterloo station I looked up and saw, on a giant television screen streaming live Sky News, the portly figure of colourful Australian share promotor David Lenigas making wild and, as it turned out, unsubstantiated claims about the ‘Gatwick Gusher’, the voguish oil play situated on the Sussex Weald. Instinctively, I reached for my phone and shorted UK Oil & Gas (UKOG) which had trebled to 3p on the excitement.

    Since then I have made reasonable amounts selling short Lenigas ramps much beloved by the retail investor (Leni Gas & Oil, Rare Earth Minerals and Inspirit spring to mind).

    Shortly after, Lenigas resigned from the board and assumed a role as consultant. On July 6th this year the company announced that 55 million warrants had been exercised at an average of 0.85p. As the company had only 13 million warrants outstanding at the year end and had not announced any further issuance, this seemed a bit odd.

    Enquiries to the feckless NOMAD, WH Ireland, naturally went unanswered. The assumption must be that some or all of these warrants were in fact insider options which have been issued like confetti to directors, former directors and 'consultants' in recent years. Most of these have a fair bit of time value left and the only rational reason to exercise them is to then dump in the market. Lenigas’ protestations on Twitter that he is providing funds here for drilling coffers sounds to me like nonsense.

    The good news is that the UK retail investor has a memory span of around two years and is hot to trot again here with claims of great things at the Broadford Bridge licence, near to Horse Hill on the Weald (the ‘Gatwick Gusher’). The shares have trebled again back to over 3p and there is plenty of borrow. I have sold short at 3.1p and expect the shares to revert swiftly to mean just like last time.
     
  12. Steveml63

    Steveml63 Hardcore MB Enthusiast

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  13. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    Will this be the same Lucian Miers that called a short position on Sirius Minerals at under 10p and it's now trading at 30p as a FTSE250 company?
     
  14. Dryce

    Dryce MB Club Veteran

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    While no doubt well intended I think your original post at the start of this thread was ill advised.

    The stock market can be treated several different ways. My perspective is that with some stocks it is subject to speculation such that pricing is too often detached from underlying value - basically the prices are set by anticipated demand which is set by people speculating on what the price will be in the short to near term - which is a price set by speculation.

    So it's not poker and it's not a horse race.

    It's punters betting on other punters as to the outcome of something - where that something may not even actually have the substance of a race or match or game. The hot air of discussion stokes demand because some people make decisions based on that talk and hot air. That's possibly quite fine for those who get in early and ride the curve and know when to jump off - not so great for those who get drawn in later and get out too late.

    So think for a moment. You post what is in effect a tip. To be fair you openly declare your position. While the aim may be to alert others to the benefit of the tip - it can also look like you are using social media as an avenue to talk up the share.

    I think it would be prudent if the mods added share tips however expressed - explained, qualified, blatant scam, or genuinely best thing since sliced bread - to the list of stuff that should forbidden.
     
  15. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    ^ I've been pretty transparent about my position and it's pretty binary in one sense, I'll be right or I'll be wrong. I have no idea which but time will tell. Knowing when to get out is the $64,000 question. I think it's a genuine prospect enough to put my own money on it. Others think this decision is daft.

    If I sell now I'm £17.5K up. I'd like to hang on a bit longer and see how it goes, cash out my initial buy in and free roll the rest.

    I'm also equally happy if the mods consider the post inappropriate to see it deleted.

    I'm easy either way.

    No offence is intended or taken.
     
    Last edited: Jul 17, 2017
  16. DrFeelgood

    DrFeelgood MB Club Veteran

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    I find this kind of thread vulgar.
     
  17. JattAmg

    JattAmg Hardcore MB Enthusiast

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    Well done sir you are sitting on a healthy profit, I also purchased a few :0)
     
  18. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    Don't read it then.

    Is it any more vulgar than people posting videos of themselves taking delivery of their £120,000 AMG's?
     
  19. DrFeelgood

    DrFeelgood MB Club Veteran

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    On a Mercedes site, yes it is, on a share tips site, no it's not.
     
  20. OP
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    Red C220

    Red C220 Hardcore MB Enthusiast

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    You are a delicate flower aren't you.
     
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