Mid-morning update today which is reassuring regarding production and prospective production figures. Also re-assures us that the fire damage recently reported has been assessed and will be resolved without too much disruption. Not much response in terms of sp as yet. - GLA
If you compare the sp with brent, UEN has not been effected by the drop in oil prices. Over a 6 month period, UEN is down 6.5% and brent is down circa 55%... Even the big boys like RDSA and BP are down 15-20%. UEN is outperforming BP!!! The biggest concern is the Rouble devaluation and the impact on Russian spending. Once the Rouble begins to recover (which will take time - firstly Ukraine war must end, sanctions be dropped, and oil price needs to recover...). It is a long road ahead but IMHO we are over the worst and I can only see upside from here. Thanks for your time x
The reason for my exit price is that when the price went down to early 3p, i made a decision that iv been here since 2010, so all or nothing. I tend not to cut my losses when i invest, which some may think its silly, but thats me, i take a chance!! GLA
Actually I was in 2 minds whether to disclose my exit price (didnt want to be accused of ramping), but hey each to their own. My initial exit price was 50p (asset value +20% uplift), following the reserves report i extended to £1.50 - £1.60. Now since the litigation has been settled i'v uped it further to £2 - £2.20. Yes, £4 can stil be possible but i dont think i'l hold onto til then.
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