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I dipped into this with pure speculation and curiosity knowing it’s a shale company and just prior to its suspension so I am looking on with interest. A few interesting things that stand out for me:
1. the Company and its auditors have requested additional time 'IN ORDER' to complete an ongoing corporate restructuring with the objective of recapitalising the Company and the elimination of its outstanding liabilities and corporate debt.
2. The Company is targeting the publication of the 2023 Annual Report in May 2024 but this is CONDITIONAL upon the Company completing the Corporate Restructuring
3. The Company further confirms that it has ceased discussions regarding any reverse takeover transaction, as the progression of any such discussions is DEPENDENT on completion of the Corporate Restructuring.
And it kind of summarises the below by saying “The Company will therefore apply for the suspension of trading in its shares to be lifted, FOLLOWING the completion of the Corporate Restructuring, PROVIDED the Company has published its 2023 Annual Report.”
So, there is no dilution to restructure as the restructuring comes first before suspension is lifted. Which will be very much of interest to me how that will be done.
Clearly whoever they have been speaking regarding reverse takeover has told them ‘First get your house in order’ until then we will cease discussion.
I think it will be a hold for me and may even add if it drops on the lifting of suspension. If it goes bust it goes but curiosity will get the better of me. Reading between the lines of their report, I am going to speculate to hold or even dare to add.
And right in the end in simpler terms, it means that even though trading of the company's shares has been paused, the company will still provide updates if there are significant developments related to its restructuring plans. And it adds additionally, the company will continue to follow the rules about sharing important information as required by regulations to ensure transparency and fairness in the market.
This is good. Thanks for sharing,
I think this one is now to be left for the bottom drawer and I will keep a glance on it each day. I have too much on and other shares to trade than to spend time in here trying and defend the company. Thankfully it is now at a stage where it will do its own defending. It may go down a bit over time but I really don't care. Just walk away folks just keeping a regular eye on the price and not the chat messages. I will collect my cash when it decide to ping upwards. It will be double or treble and potentially even more!
It doesn't matter even if it goes to .10. I really don't care right now.... Only sad people will sit and stare at the share price and complain about the where is at. The wise have done their dealings and just sit back and not worry about the shortly volatility. Its the long term goal we're after. In the meantime you can continue your moaning and groaning. You are like a dripping tap. A constant terrible noise in the background. But I will filter you with some good tunes lol
It certainly is great news. I simply do not care about day to day pricing right now. In a few months thos will look much better. If it stays around these prices it simply means more opportunity for top up each month.
Long term holders ignore this time wasting trolls and hold patiently
AREA OFF-3 licence, offshore Uruguay signed and sealed!!
This are the highlights
minimum work obligations on the AREA OFF-3 block are relatively modest, ...... The Company intends to follow a similar strategy to that successfully adopted for the AREA OFF-1 licence (the farm-out of which to Chevron was announced on 6th March 2024), specifically to accelerate its technical work programme including additional discretionary work, with the objective of high-grading existing prospects and identifying new plays and prospects, and ultimately with a view to introducing a strategic partner .......at an early stage.
The block has substantial existing 2D and 3D seismic coverage, with two previously identified material prospects possessing currently estimated gross resource potential of up to 2 billion barrels of oil and up to ~9 trillion cubic feet gas.
Let that sink in....2 billion barrels of oil and up to ~9 trillion cubic feet gas....and with more high grading to come!!
And I love the closing line....
"Therefore, like with AREA OFF-1, our immediate strategy for AREA OFF-3 is to commence accelerated technical work, in support of seeking an early farm-out. We look forward to keeping shareholders informed of our progress".
Excellent article. Thanks for sharing. Slowly it will come to the attention of many. Now is time to load up!!.
This is a no brainer!!
This is going incredibly low under the radar of many investors. The market value of CEG yesterday morning before the news was just above £12m.
Eytan Uliel delivered an unbailable news of 60% participating interest in the AREA OFF-1 block from non other than CHEVRON!! for US$12.5 million cash let that sink in! The paperwork with the Uruguayan government is a formality that will take a couple of month. The £$12.5 mill is for the 60%. Don't forget the 40% is a carry on and you can't put a value on that at the estimated oil in play in the 2 billion +.
Ignore the trolls and just buy and buy! Your patience will be rewarded soon.
As Warren buffet once said the stock market is a way of transferring money from the impatient to the patient.
AREA OFF-3 block is still not in play here yet. It could well be Farmed out too. There is so much positive news here around the corner!
Fatsheep, do you think I am gone sit here and tell you all my investment strategies, I have far better things to do like make money lol.
That is just one dimensions of a much bigger factors at play. I will simply not stop and engage with details.
I do this full time and so I must be doing alright ....in fact much better than alright!
Oilworker1, good question.
I am 100% convinced a number of long term investors had been averaging down and were desperate to get out for personal reasons. I think a very large group of investors or a small group with a very large holding took the opportunity of yesterday's rise to bail out. Maybe they needed the money or want to invest elsewhere etc...
it really does not matter to me nor should it matter to you. look at the short to mid-term. Your investment and patience will be rewarded. the CEO will do share cast soon no doubt and explain a few things. What some investor may have not liked is he said it could take several months before the completion of the Transaction. But he had to say that as to give himself and CEG leverage just in case the Uruguayan government took a long while to ratify the deal.
But I am 100%sure he knows deep down it could be all done within a couple of months. The government know this is huge for Uruguay and Chevron as one guy said on here will also be playing on the political strings to get this concluded much sooner. With the impatient selling on news it has depressed the share price but don't pay to much attention to that for now as it's all about the fundamentals and the fundamentals are GREAT!
This is a great investment do doubt about that. Double your money soon at the very least!
Joe80, you are absolutely spot on.
I am invested here but I am no fool and i am under no illusion that this share price isn't going anywhere fast. But I don't care and I am confident where it will go long term. But some of this muppets on here on get on here day after day telling us it will multi-bag by the weekend, 3p by the end of the day, 100% rise by the afternoon are exactly just that, muppets, who have far too much time on their hands. This will drift down over the next month or two, that is inevitable. Just sit patiently and top-up at low level with money you can afford to lose :)
I re-iterate ..........
This is going incredibly low under the radar of many investors. The market value of CEG yesterday morning before the news was just above £12m.
Eytan Uliel delivered an unbailable news of 60% participating interest in the AREA OFF-1 block from non other than CHEVRON!! for US$12.5 million cash let that sink in! The paperwork with the Uruguayan government is a formality that will take a couple of month. The £$12.5 mill is for the 60%. Don't forget the 40% is a carry on and you can't put a value on that at the estimated oil in play in the 2 billion +.
Ignore the trolls and just buy and buy! Your patience will be rewarded soon.
As Warren buffet once said the stock market is a way of transferring money from the impatient to the patient.
AREA OFF-3 block is still not in play here yet. It could well be Farmed out too. There is so much positive news here around the corner!
Absolutely Pashman! Just keep buying and toping up. Easy money here.
Thanks for sharing. The word may go out slow but it will certainly will soon reverberate.
Great top-up opportunity here for the shrewd investor!
We know we are onto a winner here!
Haha you're a mug Brex222. A troll for sure who want to enter at low price. They have loaded and they know why. If they sell a single share they have to notify the market so we know you are full of garbage. CHEVRON are coming on boards with over $100m to spend and invest....I think I know who I will trust
I noticed I didn't have the right Subject heading when I first posted this....
Reposting for the benefit of even a few that will benefit and thank me soon.....
I have been watching this and a few shares for sometime.
This is easy money here. you are looking at at this doubling at the very least in the next few month.
This is going incredibly low under the radar of many investors. The market value of CEG yesterday morning before the news was just above £12m.
Eytan Uliel delivered an unbailable news of 60% participating interest in the AREA OFF-1 block from non other than CHEVRON!! for US$12.5 million cash let that sink in! The paperwork with the Uruguayan government is a formality that will take a couple of month. The £$12.5 mill is for the 60%. Don't forget the 40% is a carry on and you can't put a value on that at the estimated oil in play in the 2 billion +.
Ignore the trolls and just buy and buy! Your patience will be rewarded soon.
As Warren buffet once said the stock market is a way of transferring money from the impatient to the patient.
AREA OFF-3 block is still not in play here yet. It could well be Farmed out too. There is so much positive news here around the corner!
As for HE1 it's definitely a hold and load (at the right time)...good days are around the corner (a few months Q3/Q4) for those who are patient.
Don't keep coming on here everyday because it will either hover around these prices or go lower. Just keep an eye on the share price and top-up when you can. Just my opinion.
There is no risk here for CEG. The risk is being taken by CHEVRON and they're so confident they are willing to chuck over a $100 million overall at the project.
I am invested here. you can't look at day to day. This is a long term play. I will top up more soon. Believe me I will get not just one but a few more opportunities to top up well below 2p. This is going nowhere soon, they told us that very clearly in the announcement today. Its all about Patience :) And I have it in bucket load! lol
I re-iterate a strong buy. The patient will be rewarded soon! It's an absolute no brainer.