I agree, sub two pence is a good value punt considering the position of UEN. Trades going through at 1.5p today and without any news for the rest of the year this is likely to be sustained or broken - great buy and hold opportunity.
Nothing unexpected, cash flow decent and debt leverage reasonable. Shrager right to play it safe and keep the company in hibernation, letting it tick over for the rest of year and into 2017. As Shrager has stated, if the oil price can get into the 70s, the ruble is kept advantageously weak and the Russian government reduces taxes then drilling will recommence. When these factors will align is unknown, hopefully 2017/2018 and it will all come together and UEN gets some drilling luck in the new acreage.
This petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016. The FCA have finally replied, saying its nothing to do with them as they only deal with market abuse & insider dealing, now is your chance to have your say.
If you hate seeing buys reported as sells etc!!!!!! Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog.
My local MP supported this petition by writing to the petitions committee to help un-stall it. There’s 650 MP’s in Westminster, So have you written to your MP? 649 to go! If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. ONLY 8 weeks to go !!!
So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so.
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