Have you been screwed by UK Oil & Gas & Lyin’ Steve Sanderson: do folks never learn?

To goof on a given share trade once is understandable. It happens to the best of us although never to the savants of Bulletin Board land who always get it right. But to be repeatedly shafted in exactly the same way again and again and again takes a real form of stupidity, a belief that it will be different this time. It never is. Certainly not where UK Oil & Gas (UKOG) and its boss Lyin’ Steve Sanderson are concerned.

UK Oil & Gas (#UKOG) – raises just £248,204 from “retail offer” at 0.05p per share

Lyin’ Steve Sanderson at UK Oil & Gas: more lies with another placing

Once again Lyin’ Steve Sanderson of UK Oil & Gas (UKOG) has ripped down the trousers of gullible bulletin board morons to give them a jolly good financial rogering. A spurious hydrogen RNS of last week saw the shares changing hands at 0.12p at one point on Thursday and they closed Friday at 0.086p. Today, as I predicted,…

UK Oil & Gas (#UKOG) – £1m placing at just 0.05p per share, also intends “retail offer”

UK Oil & Gas, Hydrogen ramp with Lenigas at full hyperbole but the tank is empty

Having ramped Pennpetro (PPP) to get a placing away just as its shares got suspended, Big Dave Lenigas is now turning his attention to UK Oil & Gas (UKOG) another company that is guzzling cash and does not have a cent to its name, that is only still trading by not paying its bills.

UK Oil & Gas bailout placing but its still going to have to place again well before Christmas

£500,000 gross (let’s call it £460,000 net) raised at just 0.015p. How the mighty are fallen. Do you remember the shares trading at 10p+ at peak Horse Hill ramp. But shareholders should be aware that even with this placing, UK Oil & Gas (UKOG) will be technically insolvent within a few months.

UK Oil & Gas (#UKOG) – placing for just £0.5m at 0.015p per share, replacing “convertible funding facility”

UK Oil & Gas, Horse Hill now a dead donkey after shock High Court defeat

Oh dear, oh dear as disgraced former tipster Mike Walters used to say as another one of the stocks he tipped, including BlueJay Mining, went tits up. At UK Oil & Gas (UKOG) a member of the minus 99.9% club, this goes from bad to worse.

UK Oil & Gas – after the pump well guess what?

There was a desperate attempt to pump shares in UK Oil & Gas (UKOG) last week with a spooftastic announcement as I noted in bearcast HERE. It was all a spoof but it worked. Lyin’ Steve Sanderson knows that those who own shares in his company, which are down by 99.9% from peak ramp, are morons and he plays to the crowd. Some morons were paying more than 0.033p for the shares last week and guess who was selling?

UK Oil & Gas (#UKOG) – further shares confetti issuance for £55,000 loan repayment

UK Oil & Gas (#UKOG) – “Loan Reduction Update” = more shares confetti issuance

UK Oil & Gas (#UKOG) – “Loan Reduction Update” = more confetti-like shares issuance

UK Oil & Gas: Death Spiral + need for bailout placing = terminal share price decline, ouzo on ice

You cannot short UK Oil & Gas (UKOG) any more. Its shares are now more than 99.99% down from peak ramp and, at 0.029p the market cap is only just £1 million – there being almost 3.7 billion shares in issue, post one consolidation. But the final death throes are going to be interesting.

UK Oil & Gas – Think the unthinkable, might its bailout placing fail?

On April 2 shares in UK Oil & Gas (UKOG) had plunged to 0.065p after the publication of annual results and an explicit warning from the auditors. Today the shares are just 0.0375p and falling rapidly.

UK Oil & Gas annual report – the warning is explicit!

Perma dog UK Oil & Gas (UKOG) starts its annual report thus: "UK Oil & Gas Plc aims to build a sustainable oil and gas production base that can help deliver its new UK hydrogen storage business as part of the UK's transition to Net Zero and which will act as a springboard to further worldwide growth opportunities in the hydrogen space." I aim to shag Cheryl Cole in an environmentally friendly way. Like UK, my aim has been constant for 11 years. My delivery to date, pitiful. Today’s annual report is dire.

UK Oil & Gas (#UKOG) – FY £4m loss on revenue down to £1.5m and swing to net debt

All the talents in one room, proven losers swap ideas

The subject was green energy. And those in the meeting were a man who has destroyed 99.99% of shareholder value and a woman whose party will get wiped out at the next election. All the winners in one place.

BREAKING: UK Oil & Gas, Oh Dear, Oh Dear – the shareholders are revolting, 0p here we come!

Earlier today I pondered at what price UK Oil & Gas (UKOG) could get away the bailout placing it needs as it is running on vapours as its shareholders voted on a share consolidation. But, as Mike Walters would have said as another of his share tips (did he tip this POS, it is right up his street?) went tits up, oh dear, oh dear.

UK Oil & Gas – as we await share consolidation what price the next bailout placing? And where does this leave Dave Lenigas and Pennpetro?

I write as UK Oil & Gas (UKOG) holds aa GM to approve a share consolidation. Like so many penny dreadfuls its shares have collapsed below par value of just 0.01p and it must therefore undertake a capital reorganization slashing par to just 0.0001p to allow it to issue even more worthless confetti. And boy does it need to issue shares.

On David Lenigas day, his UKOG baby takes a Turkish bath and is now minus 99.99% - worse will follow

Andrew Bell reckons that David Lenigas knows how to create value. Hmmmm. On the day that Bell appointed Lenigas to drive the “new phase of growth” at Red Rock Resources (RRR), after a last phase of growth that has seen shareholders lost 92% in three years, Lenigas created UK Oil & Gas (UKOG) had yet more disastrous news and its shares are now minus 99.99% down from peak ramp. And you know what? It is going to get even worse.