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The Rock hopper acquisition was around Feb 2020 and consisted of 115m shares going to Rock hopper with a lock in period of 1 year. After that lock in period those shares were sold to a few other investors (I think 3 in total ) this was about a year ago. I think it's these shares that have been being dumped for a considerable amount of time since. Hence our subdued share price, good news is that these must nearly be gone now due to the time and volumes in this time. Most probably selling down from the 6p highs or around that time. It was a nice profit from the 3ish they acquired them at.
UOG is definitely massively undervalued and there is so much news and things to look forward to for years ahead...patience will provail with this company
Some reasons why a share may not be performing even though the company is doing well.
Shorts.
Naked shorts.
Market makers.
All of the above can hold down or pull down the share price.
Strange one this.
Once again after looking like it would break 3p it now looks like retesting lows next week.
I have no idea why but this does look broken.
Is it just an aim thing or is it something else?
Shareholder value is not exactly blowing the doors off .
You could say that the wheels have fell off .
I would appreciate anyone with an inkling why as I don't have the foggiest idea.
Well the gas price is fixed from Egypt so that race is
nothing UOG is a part of unfortuanely
Don't forget the gas price guys, that's gone ballistic in the last 6 month
The oil price could do it all for us even at 1,750 boepd. BP facility barrels should also be done in 6-9 months. Watching 2p reserves figure
Down again, disappointing as more buying today.
Just have to wait for the end of the month, UOG must have been raking it in with the current oil price.
Future guidance important if SP to recover to 12 month highs.
The Ash well has largely stabilised itself and is still in production those at reduced rates. BL mentioned they may put a pump in to boost the production and the well will produce for years….it won’t be near the previous highs, no exact figure was given on the wells current production. They will target other areas on Ash area in future. Todays RNS said update by the end of the month so not long for guidance.
come on guys...
@Balanced. Steppe Cement is a very quiet board. It's a ghost-town, because it's a stable dividend share. Nobody expected guidance at this stage. They've reported rising revenue/profit for the past 5+ years and nothing exciting ever happens to that share. It's just a boring company that pays an increasing dividend. They are a domestic producer and your comment on exports have not had any impact whatsoever on revenue/profit; it's just a statement of fact. Furthermore, if you understood that share, you would realise that at this time of year (winter) they don't **ever** produce much cement. It's because it's too cold. That is normal and expected. Quite simply, you don't know what you're talking about.
FYI. I am positive about UOG, or else I wouldn't have been the biggest buyer today. Clearly you have not purchased or your purchases are tiny. I like to discuss facts and the fact is that there was a serious water cut issue last year and the published figures suggest a large reduction in daily production in Q4, which would imply a lower guidance for 2022/Q1. That is probably why the share price dropped 66% throughout the year.
You are a ramper and I have filtered you.
@jono: I completely agree. I suspect the water issue has not been resolved, but it has probably stabilised. My guess is that this is a feature of that field. It doesn't worry me too much as I think the market has now factored that in (the share price falling by 2/3...) and they have sufficient cash to drill more wells. I also liked the fact that managemnet have purchased @ 2.95.
If the guidance is better than the figures suggest, then that's great and we'll make loads of money. If not, I'll re-evaluate, but probably hold anyway, as this is ridiculously cheap.
Even at this time, my own small topup is the biggest buy of the day. That's a bit concerning...
You are trying to distort in my view. UOG has not yet provided guidance because that will be provided in due course. You make it sound like they have said there is no guidance.
You have not answered the queries I posed - why aren't you putting up a fair assessment on the Steppe Cement board - how can you value that company when there is no update or guidance on production. On Steppe you can actually say there is no guidance:
"We are in the period of lowest sales of the year, and the directors do not believe they presently have sufficient visibility on economic matters to make an accurate prediction on demand for 2022."
@Balanced; you have no idea what you're talking about.
Guidance has not been provided by UOG. It is a fact, that the volume here is poor. I was the biggest buyer and my purchase was small. Clearly you are not buying...
Atalaya Mining is a totally different company to UOG. ATYM is net cash, paid a 7% divi and has tripled in value in about a year. They just recorded record revenue/profit. It's a share that hardly moves, because it's mostly held by funds and long-term investors. Like every company on the planet, they've reported rising energy costs, but they've already constructed a solar plant to provide their own power, so, given that most of us are heavily in profit, I don't see a few percent decline to be a big issue...
Steppe Cement also produced record figures. Yes, it's in Kazakstan; oh well, but I hold it as a dividend cow. You have no idea what you are talking about, so I 'm going to ignore you.
All I am stating is facts. There is no guidance for 2022. If you were able to calculate an average, you'd have seen the drop yourself, but you're clearly just a ramper rather than an investor.
CT regardless of what other people post or say I want to see exact up to date production net to uog and written in black and white in an official rns.
I'm not convinced that water issues has been resolved completely, but of course I could be wrong.
But until they published their delayed update we are just speculating.
Put it like this if production was stable and increasing with the new well I believe that would have been in today's rns but its not.
Looking at today's trades, yours included, seems like small spike this am and drifting back down.
There still seems to be a seller about keeping the sp down.
GL
CaneToad
You're biased and selective in your interpretation on shares that you hold.
You seem fixated with guidance here but when guidance has not been provided on one of your other shares (Steppe Cement) you state that there is nothing to worry about. By the way the update from Steppe Cement is very poor and worrying yet you say it's a "solid update". Why should anyone pay attention to your comments here and those of your friends trying to always find fault with each production update when you are trying to pump up a poor update elsewhere it shows that you are not posting in good faith imo. Huge decrease in exports as well at Steppe Cement. What is there to like there in the update yet you blindly state it's a solid update and nothing worrying. Lol. Not going well for you there is it! Notice you're trying to put a positive spin on one of your other shares as well Atalaya when the company has provided a troubling update this morning regarding increased energy costs. Don't see you highlighting that there but instead posting what appears to be in desperation on the Atalaya board. So shares that you hold you pump up and those that you appear not to you deramp to buy cheaper imo. Others can see the value here and we will be debt free also by October this year - that's around another £6 million in cashflows to the company. Fundamentals are getting better here all the time.
From STCM LSE board:
"CaneToad
Posts: 2,167
Price: 39.50
No Opinion
Trading UpdateToday 08:38
Unless I'm blind or an idiot (I'm definitely not blind), it was a solid update. I can't spot anything worrying, apart from the minor issue of the attempted coup... but it's seemingly had no impact on the company."
Logical post Canje. However what about price v 2020? 2020 realised price (with production at 2300) was $37.
As long as certified 1p and 2P reserves are still increasing isnt that more important than production fluctuations, and if the achieved price is $84 instead of $37, then massive profit v 2020
I too trying to chip away at 2.60 level but waiting for someone impatient to sell to me.
@jono44: "Doesn't seem right that they haven't just given Q4 20221 production update in this rns."
A few people have mentioned this already, but most don't want to believe it and the response has been to attack the messengers. You can easily work out the implied Q4 production for yourself from the other published results.
Based on the implied Q4 production, I expect 2022 guidance to be significantly lower than 2021, but let's see. Maybe they can massage the figures a bit, now that they have a new well. That explains the 66% sp decline from Mar-Dec 2021 and why this seems so ridiculously cheap. This could explain why they can't pay a divi, even though they'll soon have piles of cash from the divestments.
All up, I see the drop in production as already baked into the price, so I've added more today (£1k + £3k), though I intend to keep my position small until guidance is released. It's a bit disconcerting when my tiny buys are the biggest of the day so far...
Nine months to repay the well costs !!, lets hope it keeps pumping for a long time .
So circa 140/150 boepd added to production.
Uog not operator so praise shoud go to to kuwait energy egypt for getting well into production.
Doesn't seem right that they haven't just given Q4 20221 production update in this rns.
Delayed until end of month with summary of 2021 production.
Why?
Expecting a decent move upwards here with update to follow this month.
No F******* about with this lot ! I am in