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They have not said anything about if the have the funding to do some of all of the things referred to, and they have not said when. Hence treading water and the share price reflects this. Everything seems to depend on finding a partner….and that might not be straightforward or quick… share price reflects exactly this. Board need to say what their priorities are, when and the funding options/ needs required. In the meantime the sp will drift around where it is.
And what’s the priority/ batting order for all this and when? Not aware of that being provided, seems scatter gun……
And how much of this is funded?
Time for this board to stop pu##ying around with share buybacks that achieve nothing and use their now secure income stream to announce a regular long term dividend policy that they will stick to. my opinion that is way more likely to attract the sort of investor type/interest that will sustain a long term drive upwards of the share price. At the moment it’s a ‘bit of this’ and a ‘bit of that’ all of which tells you that when it comes to understanding investors they are amateurs and wasting the opportunity to make a clear and decisive signal to the market about what you will get by buying and holding UJO. Wake up and smell the coffee please board
There is now no clearly articulated strategy here to create value, hence the share price doing s#d all. Muttering about data rooms and potential partners, but nothing on operational stuff. Price will just drift and be knocked by market forces until management comes up with a clear strategy or can make deal announcement/s, which may well be months away. Might end up being one for the 24/25 ISA allowance !
Seems bizarre, company says it has loads of good assets, but instead of using energy and resources finding commercially viable opportunities within the existing shareholders interests, they have gone and diluted further on another. we have not got a clue if we are buying a commercially viable opportunity or not, this reeks of management being seen to be buying some new ‘ toys’ with A VERY IMPORTANT DEAL, to justify their existences. I will be the first to be delighted to be wrong…..but fear I am not…time will tell
And it’s track record explains why, I have lost hugely on this, will need a genuine decent commercial discovery to have any chance of returning to where it was, rather than continual failure and raising cycle, let’s hope they eventually strike something that fits that……but it’s hope not expectation.
In the Wild West of Aim no chance…..just have to sit and wait, delays do make people nervous
Is there a consensus view on the rates in the RNS. Good, average of disappointing. Muted market reaction suggests not good. Thoughts welcome.
It seems like the RNS flow rates are underwhelming, hence the limited sp movement. Is this right/ what’s the view.
Has to be said, this share has been an utter disaster, poor management and execs who just want to bleed it for what they can, will be a miracle ( or just blind luck) if this lot actually turn up anything commercially viable. No doubt more cash raising to come to keep justifying salaries, consultancy fees and keeping drilling holes with ‘visible gold’ (aka fools gold) for those following ecr long enough to know what I mean!,,, Has been by a long distance my most hopeless AIM investment.
no gas to sell yet! Still awaiting first gas information, unless others know better…..
My opinion, they have to run that risk, it’s the only clout they have got, what’s the alternative? Restart pumping oil and never get paid!! This is the only ‘muscle’ they have, can now blame the Turks and iraqi’s for having to do it. This also highlights, looking a yr or two ahead, business needs to reduce divi in short term and find an find/ invest into an alternative area of geographical and political profile for operations and not be 100% Kurdistan. For example 88e or pantheon in Alaska?
this is quite possible imop, very uncertain timing about a resolution, could be weeks or months as it seems to need turkey, Kurds and Iraq to agree something, and that is a utter nightmare. Company might be best to fully mothball operations and not restart them until agreement is reached and outstanding payments for outstanding months oil supply made. Management are crazy if when a deal is eventually done they start pumping without getting the arrears for sept to dec paid. Power play situation and yes I am an existing shareholder and want a sustainable long term solution to stop this happening on and off every yr or two and destroying the credibility and therefore long term value/share price of this business, get confidence for institutional shareholders to come back! It’s now turned into a speculative retail traders play like an exploration co……nightmare.
Once cash is flowing they need to make a lot more market noise about their success, won’t get to those levels on 20 trades a day
Oops, decimal point in wrong place 0.85p
So say 0.085p if 100% of that dcf valuation is reflected in the share price, before any hope value for what may then follow, and assuming no operational or market @#&* ups in the next 6 mths ! Sounds reasonable to me…..
Deliver in the next 6 mths, get the cash flow coming into the bank and then this should have a massive re rating
Feels like a decisive RNS 1 way or the other sometime the week after the Easter weekend.
Could be 0.5p If the flow rates are useless or technical problems encountered, but hopefully not for all concerned