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Nidgeyr, I’m looking for some positives here.
You stated ‘this points to positive news over coming days’ can you evidence this statement with some facts or is it just hopeful sentiment from an investor? Look forward to hearing back from you Nidgeyr 👍
Indeed M5Mil, very clever - share price sinking after last raise and with PSC / JV close it was an excellent strategic move by the BOD. This points to positive news over the coming days. Exciting times IMHO
Very strategic suspension request but they have to pull their fingers out and finalise at least a PSC or JV details who they are ..
GLA
Actually the more I think about this suspension the more I like it :))
I wonder if we are going to see Volumetric - JV - PSC all as we come out of suspension or during
:D :D :D :D
If you're right, and I think you are, investors scrambling to buy will force the price up. This coupled with shorters falling over themselves for stock in order to close, should see some rapid escalation in the sp. 🔥
I can see a good possibility that a lot of good news will arrive before the suspension is lifted, and the price moved up considerably the instant it starts trading again, so if anyone has any limit sells set up I'd turn them off, or you may get short changed.
Agree. Schadenfreude.
I hope this stays suspended all the way until we have a PSC/JV and funding terms all agreed so all these folks trying to bring down the company by misrepresenting every RNS can bleat away to no avail.
The RNS states that the auditors have requested additional time, that there are no material audit issues, and that the auditors have informed the company that the audit will be completed in the near term.
StockChecque , your positively is welcomed , lots to be concerned about if invested here . Let’s hope the company delivers on its promises
Personally, I hope they burn
Keep an eye out for some posters on here suspected of being short recently. With suspension in place I suspect they won’t be posting much now as they can’t spread fear and impact the SP daily any more. Unlike Jaknife they are left holding their short and praying no PSC is announced.
With all these twist and turns, I am now accepting this road is a rough and tough one.
If they have any intention of keeping the light on and averting all the vote of no confidence, they have no option now than to release a massive critical news not the empty RNSs we have been receiving inmho
GLA
There have been a large number of suspensions today across the market due to accounts not been completed in time. It's a staffing crisis across the auditors and nothing to worry about. Exacerbated here by our change in reporting.
Yeah.. a few of us previously alluded to the possibility that the psc agreement is dragging on because it might actually include potential jv partner in the final discussions.. or at least thereabouts.. cos if upl and petros agree something then it's kindof useless if a future potential jv partner doesn't join in, because their opinion is that the Gross terms of the psc are not good enough..
Looks like there is a good chance that this 3way process is now underway..
Companies change auditor for a million different reasons. Often it's to make sure that the auditor is not missing anything, as a fresh set of eyes can sometimes alert the company to an issue. Another reason recently that companies are changing is because of the auditors staffing crisis, where the existing auditor says there's no chance they will meet the target date, the company has no real choice but to try a different auditor.
One glimmer of hope is in the last paragraph. It didn't need to be added to the RNS but it was 🤞
" Shareholders should note that we are progressing and finalising work-streams related to licensing arrangements and joint venture discussions. We will be updating the market on these developments in the near-term. "
Are you saying the current auditor is not a reputable firm ?
I do hope you’re right ! I would love to be wrong!!
The last published accounts to 2002 had Crowe U.K. LLP as auditor. One has to pose the question what was the reason to alternate from such a reputable firm as Crowe ?
Somebody posted this yesterday:
‘Definitely starting to feel like we have all been mugged off’
Nothing to do with UPL at all. Read, learn, and then stop posting false information.
https://qxaccounting.com/uk/the-staffing-crisis-in-the-accounting-industry-stats-that-are-a-wake-up-call/
There is a genuine staffing crisis in the auditors sector. Delays everywhere.
https://qxaccounting.com/uk/the-staffing-crisis-in-the-accounting-industry-stats-that-are-a-wake-up-call/
Ask yourself why TW wrote a very public article week telling us all that Jaknife/Evil Banksta has closed his short at a LOSS.
Annoying that these spivs get inside info from Brokers etc etc but also a very telling sign that he didn’t want to be sweating through a lock down period