Quite right Heart, this is ramped on any news and then SP drops like a stone within a few days. UEN have just announced the purchase of a new licence for a couple of million and admit they will need a loan to develop it, all because they now have cause to question the viability of an already paid for and semi-developed area, and this is considers good news - a huge new outlay simply to maintain current production! Then it is announced that a much higher oil price, a much lower tax burden and a much better exchange rate is required just to ffound capex and people buy in off that? Dictionary definition of mug amateur investors.
Gambier and Heart10_5 is the same poster. Get a grip of yourself Gambier, and i wudn't worry too much that u didn't managed to deramp it dowm to your 1p buy in price. I'm sure you wil manage yo sniff out another share to deramp.
Gambler , you certainly know your onions and I would say you are correct , like I have said until the mkt sees them drilling a new well and finds tbe mother of all loads this will stay around this area of .2p long term holders like myself have a freakung long wait until we see 10p + again
How on earth are you reading this as a positive statement? Well 109 has a water cut problem that suggests further development of the field might not be economic - that is very bad news. They have only acquired the South Dagi licence so the PSK refinery can survive, the acquisition is a corner they been forced into. They cannot develop their fields at $50 oil price which means a very long wait indeed. Has anybody even studied the latest tax manoeuvre and its affects on companies such as Urals? Unless UEN gets some sort of MET exemption and oil price goes north of $60, there will be no UEN capex. Do you have idea what that actually means? This RNS is everything I have been dreading, which complete morons are buying on a very negative RNS. The only positive is that the chairman is being brutally honest and clear and keeping people informed, as he has done over recent times. This time last year we had a thirty percent spike before the RNS just on hope. This is a slam dunk sub 2 pence, bring it on.
Hopefully CPR will give us a re-rate later in the year. EU referendum may have an effect. Things are definitely looking on the up side though. Oil is still creeping up slowly. Wish I had spare funds for a further top up...
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