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Your target has been reached :-)
http://bbr391.blogspot.co.uk/ Luckily Sac of spuds is my only oil share . Good luck all grumpy Sackees
UGANDA CONFIRMS MORE OIL DEPOSITS Source: Daily Monitor The country’s oil prospects are getting brighter after an additional one billion barrels of oil were recently announced as having been discovered, pushing the figures of commercially viable deposits to at least 3.5 billion barrels. Energy ministry officials revealed the expanded find, which is a significant percentage increase in the proven deposits first announced in 2006. Mr Ernest Rubondo, the commissioner for Petroleum Exploration and Production, Ministry of Energy and Mineral resources , made the announcement last week at a conference organised by the Uganda National Chamber of Commerce. “From about two or three wells we have increased our oil barrels to 3.5 billion,” Mr Rubondo said, answering a question on transparency. He further disclosed that out of 77 wells drilled so far, 70 have been proven to contain oil and gas. Uganda’s oil fields, he said, are showing a comparatively higher level of productivity when measured against the experience in other countries where the chances of oil discovery in an equal number of wells usually hovers at only 10 per cent. “Thus far, $1.5 billion is the amount that has been spent in all the activities leading to the 3.5 billion barrels discovery,” Mr Rubondo said. The even better news, according to the commissioner, is that exploration is still ongoing and more discoveries are expected along the way. Before the discovery of the additional one billion barrels, the country’s exploration efforts in the Albertine Graben shown estimated oil and gas reserves of 2.5b barrels. But, production has been delayed by contractual disagreements, tax disputes and infrastructural setbacks, according to the Energy ministry. Parliament, which is investigating three ministers over allegations of accepting oil bribes, has also criticised the government for hiding information about the budding sector, amid suspicions of high level corruption. Now, the oil companies invested in the sector, particularly Tullow Oil, want commercial exploitation to start immediately, saying it is unfair for them to hold their capital idle. At the same conference, Tullow Oil president in Uganda, Elly Karuhganga, said with neighbouring countries discovering oil in the region, investor attention could turn to them. Mr Karuhanga advised that before this happens Uganda should allow the companies that have invested to start commercial production as exploration continues elsewhere. Block 1, found on the northern tip of Lake Albert, is operated by a local unit of France’s Total SA, while block 2 is operated by, Tullow Oil. Total entered Uganda’s oil industry early this year after it signed onto a joint venture with CNOOC and took up a third each of British explorer Tullow Oil’s exploration assets in the country worth $2.9 billion. According to Reuters, Total expects to drill a total of eight exploration wells in Ug
In other words , youve got no clue !!
Jeez, Thanks for the enquiry Ims . But , I like to keep those to myself . It`s all in the accounts /RNS announcements . Now . if you were offering to reimburse me . I may feel differently. Until that time . Good luck with all your investments.
Jeez , like pulling teeth, what values do you plug into your formula , I'm sure everyone would like to understand the valuation, It allows one to see the true potential , of the company if certain of the assets are revalued. perhaps your equation / formula is the key !!!
I am not an accountant for a living . I just do it for fun . Some have a strange idea of fun . Good luck
Of course , I use my own formula . Doesn`t every accountant ? http://screencast.com/t/u80aKDIl7JTs
I understand what NAV is , I'm just trying to understand how you get to the specific figure of 2.5p . What values are you using for the Assets , Cash , Debts / liabilities in order to arrive at the figure
The net asset value of a company, is calculated by total assets minus intangible assets (patents, goodwill) and liabilities. Of course , in accounting lots of things are subjective . With sacoil ,farm outs etc will be of most importance .Seeing as we rarely get to drill any holes. Good luck
Thanks bbr391 Please , explain how you arrived at the NAV of 2.5p for SAC
Of course momentum is a crazy bird. So , it could go well passed that point. Good luck
Morning , That would be nice .But, that is my actual valuation post rights issue .Of all the land owned by the company etc . Of course, if Total manage to hit oil for us ,this somewhat changes things . Sacoil NAV =2.5p Good luck
2.5p target, is that for closing price tomorrow?
Perhaps , you should average down , before anyone else notices . Except Mr Grumpy . gla sackees
Good luck . Mornington
I would happily take a rise of 17% daily! still a long way to go before I get back my 6p average.
Buys above ask, hopefully the tide has turned here.
Typo, meant to say up over 14%
Another great day here. Up over 7%
Quotes 5-day view End-of-day quote. End-of-day quote Johannesburg Stock Exchange 01/27/2014 01/28/2014 01/29/2014 01/30/2014 01/31/2014 Date 0.33 0.35 0.36 0.38 0.42 Last 4997714 8745991 2990911 3419267 6590106 Volume +13.79% +6.06% +2.86% +5.56% +10.53% Change Company Sector Oil / Gas Exploration / Production Calendar - More about the company Chart SACOIL HOLDINGS LIMITED
why you do half hour updates very boring ?
1.9p finish today. Loads more to come. Good luck all @ The sack of
Promising days ahead. Good luck