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https://twitter.com/Bradley08756305/status/1294026139422412802?s=19
We do have a debt with BP however remember this was secured at just 800bopd and raised at around 3p. They also had the SP stay above 3p for a while at that bopd level. Since then the oil we pull out the ground is nearing a 300% increace. So if investors thought fair value for 800bopd was around 3p let's say then in theory we should be pushing past 6p easily. This was again before acquiring 100% Jamaica too. A farm down of us even holding 10% free carry and hitting would again multiply SP. We also.have more the 30 drill locations left in egypt with an 80% success rate. If im being honest however I believe the only downside to this share is the fact the drilling campaign was stopped. I suspect one more drill before year end however
Just re-read, I did indeed gkb47. Sorry !
gkb47 - $6.5m sounds about right for the balance now
****wellin - BP loan was just under $8m on deal signing. Payable over 30 months.
All in the readmission docs, presentations, interviews and RNS'
gkb47 - its a secured debt, not a trade creditor
Good to hear Badger, indeed it is too hot. At least we are finally gaining a bit of traction here but still far too many sells. This time next year Rodney........... ;-)
Quite ironic the one saying people should do more research is one of the one's saying we are debt free, may be just another figure of speech lol.
It's all there in the relisting RNS, the debt facility with BP.
Hi Levi - all good mate... its too hot to be reading dross on message boards though
How much debt have they got
Ahhhh Badger, the voice of reason at last. Hope you are well.
Big old twitter ramp from lots of new posters yesterday and today declaring their undying love to UOG too gkb47
Can someone explain to me why i'm reading on here and on the twitter ramp club that we have no debt? ... or is it an 'honest mistake guv'. Always DYOR and don't be a sheep.
Bradley, Where did you get the average P/E ratio of 19.2 from. In my experience oil producers are nowhere near this and that is what UOG are, not a wild catter.
Bradleybear - good post I lifted that and copied it to Twitter for a wider audience to appreciate.
The company is currently valued around £18m. Even if they made a profit of £6m at a P/E ratio of 5 it should be worth around 5p! Oil and gas production and exploration average P/E ratio as of January 2020 was 19.2. So at £6m profit that would make UOG worth nearly £120m or around 20p. Take that as you will but we are currently trading at 3 x if we are making £6m so much more to go!
Its never an exact science you see it when the S.P. goes North, as you say, trade candles looking good, volume and interest is there, near term news flow, Poo increasing, Egypt and Jamaica are stable enough areas .. got to buy in and wait for a session or two then off it goes and everyone loves UOG and wants to buy in .... same old game time after time.
Application has been made for the Warrant Shares to be admitted to trading on the AIM market of the London Stock Exchange ('Admission'). The Warrant Shares will rank pari passu in all respects with the existing issued ordinary shares of £0.01 pence each in the capital of the Company. Admission is expected to occur at 8.00am on 5th August 2020.
Placing shares were 6m ... rule of thumb need 3-4 x that as sell volume to clear and then it is off to the races ....
It won't be long .....