1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Dear Guest, we realise advertising is annoying, it is however necessary to help us be a sustainable resource for all, if you want to go advert free then please use the following link to subscribe for £5 a month: Click here
    Dismiss Notice

(UKOG) UK Oil & Gas Share Chat

Discussion in 'General Share Chat (UKOG)' started by Bristol87, Jul 7, 2015.

  1. JJ15

    JJ15 Member

    Messages:
    579
    Reputation:
    482
    An interesting (I'm having a boring day at work, so this suddenly seems interesting!:rolleyes:) Holding RNS:

    https://www.hl.co.uk/shares/shares-search-results/u/uk-oil-and-gas-plc-ord-shares-0.01p

    - Pursuant to the SPA between UKOG and Tellurian Investments LLC, on 10 September 2019 Tellurian Investments LLC was allotted ordinary shares of UKOG and crossed a threshold of 4% with a holding of 275,988,960 ordinary shares, representing approximately 4.3% of total voting rights. No TR-1 notification was submitted on behalf of Tellurian Investments LLC at that time.

    - On 21 November 2019 Tellurian Investments LLC crossed below a threshold of 3% with a resulting holding of approximately 200 million ordinary shares held on that date representing less than 3% of total voting rights. No TR-1 notification was submitted on behalf of Tellurian Investments LLC at that time.

    - On 31 December 2019 Tellurian Investments LLC crossed above a threshold of 4% with a resulting holding of 331,125,828 ordinary shares representing approximately 4.5% of total voting rights. The present TR-1 notification is being submitted on behalf of Tellurian Investments LLC in relation to this crossing.

    - On December 31, 2019, prior to the allotment of the second tranche of consideration shares issued by UKOG to Tellurian Investments LLC as described herein, Tellurian Investments LLC held 132,322,260 shares of UKOG representing on that date approximately 1.9% of the total shares outstanding of UKOG listed on AIM. So after the December 31, 2019 allotement, Tellurian Investments LLC held a total of 463,448,088 ordinary shares representing approximately 6.4% of the total voting rights.

    They are now saying their holding is 331,125,828, so they have shifted the 132,322,260 shares they held at 31st December in the last week....i.e. just about all the shares sold this year.

    Certainly this and the fact they sold their earlier allocation helps to partly explain the current low price. Assuming they are going to sell this new allocation fairly rapidly as well, along with the loan conversions the pressure is still going to keep downward pressure. At least they may issue holding RNS's as they sell down so we can monitor it (or maybe they won't - they didn't until today!).
     
    MCJK, Powerteam and Keith Mullins like this.
  2. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
    Powerteam and MCJK like this.
  3. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
  4. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
  5. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
  6. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
    MCJK likes this.
  7. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
    MCJK likes this.
  8. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
  9. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
    JJ15 and MCJK like this.
  10. MCJK

    MCJK A Legendary Member

    Messages:
    206
    Reputation:
    83
  11. JJ15

    JJ15 Member

    Messages:
    579
    Reputation:
    482
    It isn't making good reading at the moment!
     
    MCJK, Powerteam and Keith Mullins like this.
  12. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
    Drifting on no news at the moment.
     
    MCJK, Powerteam and JJ15 like this.
  13. JJ15

    JJ15 Member

    Messages:
    579
    Reputation:
    482
    Afraid so.

    I am assuming the pressure from the selling by Tellurian and the loan conversion is forcing it slowly down.

    Hopefully, there will be positive news on the water ingress to reverse the decline.
     
    Keith Mullins and MCJK like this.
  14. strollerb

    strollerb Growing older but not ready to surrender

    Messages:
    661
    Reputation:
    357
    Riverfort last conversion was at 0.71p so them cannot see them selling at today's prices unless they know something we don't. Not sure about Tellurian.
     
    Keith Mullins, MCJK and Powerteam like this.
  15. JJ15

    JJ15 Member

    Messages:
    579
    Reputation:
    482
    My view is that Riverfort forward sell their shares before the conversion, somehow getting round the "never holding a short position" rule. We haven't had another holding RNS from Tellurian, so don't know what they are doing....although their idea of reporting leaves a lot to be desired, judging by their last report.

    Someone is certainly happy to sell at these low rates.

    Roll on some news, hopefully good.
     
    Keith Mullins and MCJK like this.
  16. strollerb

    strollerb Growing older but not ready to surrender

    Messages:
    661
    Reputation:
    357
    I cannot get my head round the concept of forward selling in these circumstances.
    Converting loans for shares is by its nature market price sensitive. Selling shares you don't currently have and in advance of the market being notified of price sensitive information is surely insider trading. ? am I missing something or is the FCA ?
     
  17. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
    Powerteam and MCJK like this.
  18. Keith Mullins

    Keith Mullins Mullins58

    Messages:
    3,527
    Reputation:
    418
  19. TwitterPost

    TwitterPost Demi God of BlueShare

    Messages:
    10,549
    Reputation:
    22
  20. TwitterPost

    TwitterPost Demi God of BlueShare

    Messages:
    10,549
    Reputation:
    22

Share This Page