Rocketing this morning on a superb upgrade !...

Starting to perk up again.....

Another lurch downwards!

StockMarketWire.com
UK Oil & Gas Investments has entered into a £10m loan agreement with Cuart Investments, a consortium arranged by Riverfort Global Capital.

A first tranche of £7.5m has been drawn down by the company, with a second tranche of £2.5m due to be drawn down on 31 December.

The first and second tranches are repayable on 13 November 2019 and 31 December 2019, respectively.

The loan attracts 0% interest and may, at the sole discretion of the investors, be converted into new ordinary shares in the company.

The conversion price is the lower of either a share price of 8p, or 90% of the lowest daily volume weighted average price during the five days prior to the conversion date.

The problem is drilling costs money !...crucial this second well.....market in general not good at the moment doesn't help.....

without delving deeply into this rather strange funding, it looks to me that someone is setting things up for debt/equity swap further down the line
note the terms - eg no interest charge and terms fro exchanging

They need to release some info on how this testing is performing.....at a guess anything around 1000 barrels a day would be excellent....a gamble this share and the rewards could be staggering for this company....a lot of ifs and buts though.....and sp disappointing at the mo even with crude rising....perhaps a sharp turnaround is coming...perhaps...fingers crossed...

Gone to sleep here but we might be close to flowing results.....sp would double if successful !....

like PRV?

Soon we shall have the results......hopefully good ones...

Could we have some positivity for a change Cynic ?....

I'd be disappointed if the sp crashes I have to say......

The lack of news has been sending me to sleep...zzzzzzzz.......

3p Cynic...time to buy or to avoid ?.....

has yet to hit 3p, but i can't imagine i'll buy even then

I think you got away with that quite lightly rf! I was expecting a minimum of two or three expletives with a bit of a toilet reference thrown in!
Wait for 2p and then have another look!

Yes H, cynic's not his old self maybe he's sickening for something, or perhaps he's just mellowing in his later years.

Hmmm...can't make my mind up if the sp is too cheap or......too euhhh...........expensive....

>>> expensive?
Market decides the price, but at the moment is the Loan Conversion by YA, since the 1s Conversion a 25% drop on share price.
" After today's conversion, the Par Value outstanding on the first GBP7.5 million tranche of the Loan is GBP6 million. The second and final GBP2.5 million tranche will be paid to the Company on 31 December 2017."

so plenty more to fall yet, till the last of the loan is converted.

"YA" normaly sells ahead of the conversion.

All this depends on how much oil is really down there...still a mystery......

if there's all this oil, how come it's taking so long for it to be sung from the rooftops?
don't tell me it's all a load of bollocks - yet again?

Well, the first well flowed 1300 barrels....and apparently there is light oil in the current one....so.....the sp will end up on crutches if the flow rates disappoint.....