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The UOG glass is half full and ready to be filled some more, that is my view.
The question with this sp is why are there so few IIs interested.
Is it a matter of trust and knowledge in the BoD or the issue of no likely ROI divi in the near future.
Other O & G companies have higher Mcaps without having produced anything.
The BoD could be underselling UOG for a reason or perhaps they do not have the right City Inst Investor financial connections.
But they are accountants. (Probably needing a lesson in City investment banking?).
Jamaica will now show their mind set and ability. Drill or drop...
Sitting back and being patient as this Mcap is just too low......
Compare it to its peers.
C.
People knocking Jamaica should bear in mind that the possibility of success there is not being priced in at all atm*. Plus, we barely spent anything on it. It would be a huge plus if we got it, but not much of anything if we don't. it's all about Abu Sennan for now.
*(Brian reckons there's more than a 20% of going ahead and if we do it's worth $1.6Bn. So if it was priced in, it would add £200M to our mcap).
Ask yourself why does this rarely gain any traction in the face of good news?
Only retail investors seem interested. Why?
One reason could be that market O & G sentiment is flat and IIs want to be seen investing in a 'greener planet' environment.
Retail Investors also look forward to a future dividend return and do not want to see BoD helping themselves to lifestyle free bonus shares. Hence could be losing interest?
The BoD shot themselves in the foot and now need to walk the talk in Jamaica.
Can they do it or will they lose it? Tullows previous $26m investment is there for the taking.
They certainly have increased their salary bill nicely during a period of the pandemic lockdown.
(Who has been working extra hard from home?).
But look at the lowly Mcap of just around £26m. It is as cheap as chips and only 644.8m shares on the register
Held at the starting post for a reason that is probably linked to shares issued and that RKH deal.
Is this being set up, so someone can to take this out on the cheap?
A merge and acquire pay off deal?
By just investing in Egypt by June 2022 they could be holding over $10m in the bank as the oil price heads up.
Do not forget the Hibiscus payment.
Sitting tight and just being patient as the story unfolds.
C.
This isn't a share that will catapult us to space in a day, that appears to be what most people are seeking, a quick in and out if you like. For me the money here is Egypt, at least for now and we are actually now a profitable, self funded company with no reason to come back to the market (like many are). That in itself is a landmark and where we need to concentrate, Jamaica is a nice to have but potentially a huge waste of time...develop EGYPT and lets grow together....UOG wasn't built in a day ;-)
I hope it does for all you holders, Hippo.
The Jamaica farm-out is in process, if a supermajority does not pick it up then there are plenty of majors, nearly majors and mid-caps. No way that UOG would really ever go it alone, not sure where that rumour came from - they could not. Jamaica a nice kicker for the company but really see the upside coming from Egypt, the value for Jamaica would be yet to come with a farm in partner. All today a storm in teacup, keep drilling Egypt for growth.
Hi HalfSovereign. At the moment from where I stand I would be happy for any positive outcome on Jamaica in whatever form that may be (except dilution of course) because I think the chances of a decent farm out are slim, getting slimmer by the day and slimmer after each climate related incident of which of late there has been far too many.
That said be safe in the mind that Uog would not go it alone, it is potential suicide, and therefore will not dilute to drill there.
I see a farm out , relinquishment, or some kind of fire sale to try to return some back costs.
I have always thought it would be a stretch and have said so many times so I have discounted it in my head. I am far more bothered about why this rarely gains any traction in the face of good news.
We have had the news that we expected to drive this forward .
The reaction today said all we needed to know.
Once again I can't help thinking that Jamaica getting closer to 5 months away and funding for that could be hard to find .
So where does it come from if no farm out ?
Some will say of course there will be .
You don't know though .
You are only hopeful.
It should be a concern.
The bod will not lose if they place a lot of shares .
We all will lose and not them.
Aligned with shareholders ?
Hmmm I don't think so.
Blaim, that is true and was talked about in the call.
The true value will win out in the end. It always does.
No way we're still at 3-4p in a year when we have £10M in the bank and nearly £10M annual net profit. Not a chance.
We will have bagged by then or I'm not a real hippo.
I agree hippo but 99% people invest in a company to make money off the share. Seeing the company perform is all well and good but without the share price going up all you have is a form of savings thats not really growing. Dividends would change that but there is none here and it doesn't sound like there will be any soon.
Post of the day HalfSovereign. Here here.
Derampers on every share point to the share price instead of the underlying company.
The share price doesn't prove anything at all about the company.
"The stock is not the company" Jeff Bezos.
The market can be irrational for sure.
The constant selling of uog has to be for a reason .
Something is off with this but I personally can't put my finger on it.
I get the impression though that some people know why.
Maybe one day it will all become apparent.
The vast pay rises here compared to ' shareholder value seem miles apart and getting wider all the time.
The cheer leaders can cheer all they like but the proof is on the top off this page with a falling share price ....again!