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The trades are all buys at the moment - it's 3.2249p to buy and 3.05p to sell............

With the right farm-out GBP could be getting the 3D seismic and an initial drill for very little or no dilution.

That's probably a bit long-winded for some here but the gist of my post is that the CPR is just the start of the action here - which is what others have posted while I was working on my post. Everything starts from what is likely to be a huge independent prospect update.

The Petrel Resources RNS of 2012 (which I admit I did first post about a few weeks ago) was actually only a Technical Update and not an independent or Competent Persons Report and was only for a 1 billion barrel potential prospect on their Irish Atlantic Margin licences. Other prospects were mentioned but none were exceeding 1 billion barrels. The SP still rose from 6p to just over 30p though and interestingly in terms of wonderer's post at 10.38am the SP then settled at between 15p and 22p for many months after the RNS even without any further news or progress on the prospect. Here we have been told the initial CPR will be used to acquire a farm-out partner and so even though the SP will probably spike hugely on the day the CPR comes out the expectation of a JV partner (which should lead to completion of the 3D seismic and plans for an initial well) should keep the SP at a much higher level than it is at today. Then there will be further rises as things progress. The CPR should be seen as just the start of what could be huge upside - and that is even without the taking into account actually hitting oil. Tower's unsuccessful Namibian drill saw a m/cap of �170M pre-spud. If GBP were to hit oil on the Gemsbok prospect the m/cap would be more like �500M - �1Billion. Also of note if that both ECO and Pancontinental have managed to attract more than one major oil company to farm-in which further reduces the risk and should have the effect of speeding things up. I feel if the GBP management finally get off their asses and get past living off the sale of their Eagle Ford assets all those years ago and apply themselves to the task in hand then they should attract the necessary partner(s) at attractive rates very easily. ATB

My guess - and it is purely a guess - is that we would have had a RNS if the CPR is going to be late (as most companies tend to inform the market if important newsflow isn't going to be issued within an expected timescale) and so as things stand it is imminent. There is a need for GBP to start to get a move on with the business end at the moment with the price of oil rising to levels that will see more wildcat drilling and with the renewed interest in Namibian prospects. This needs a prompt CPR, followed by a speedy farm-out, 3D seismic and then some provisional drill plans.

Looks like ASX is following AIM (at last!). Currently up 27% at AU$0..46c/0.48c which is roughly 2.7p/2.8p.

Good volume. Mainly buys. No big sells so far. Re-rate is on. This could 2/3 bag from here.

Might be a bit bumpy for a while but the rise had definitely started. Huge volume today. Just wasn't expecting the selling. Once that is out of the way this will rise very quickly with only 6.5 million shares in free float. ATB

Not to forget that although their drill was an unfortunate fail Tower managed to hit a m/cap of �170 million prior to spudding. As I personally never hold any shares during a wildcat drill a rise like that would be a result in itself.

Well other companies - Pancontinental (ASX) and ECO (Atlantic) on AIM for example - have managed to attract big partners at attractive terms to include at least one drill so if GBP put their mind to it it should be relatively straightforward. Now is the time to go for it as the previous disappointments of Chariot and Tower and others have been forgotten in favour of the renewed interest in drilling.

The MM's have just got hold of some at 2.33p and they are offering them at 2.80p. In the meantime the sell price is now 2.50p

Over 510,000 shares traded today compared with total trades of only 10,085 combined over the last 4 trading days.

This could easily rise by 200%, 300% or even 400% on the day the CPR is released if the figures are huge (as expected).

Some signs of life here at last. It would be great to see this rise before the CPR comes out. I'm afraid this suffers a bit from being dual-listed as the ASX market is never as keen on speculation as AIM.

I think we can safely assume that this has bottomed out for now. Last year's rise from the equivalent of 40p to �1.60 was over 4 or 5 months so it would be nice to get a rise like that going now with a �1.80 to �2.40 target.

It will be nice if we do get a post year end trading update, maybe with the CPR, as volume has increased and revenue/EBITA has substantially increased with the recovering price of oil. I just don't get this seller - 4 x 25,000 now, 1 x 15,000 and 2 x 10,000. Without those sells the SP might be 75p/80p by now.

I'm expecting a very good rise here if this volume continues (as long as the seller disappears quickly). Just over year ago the SP hit a low of the old 0.02p which is 40p today and then after a post year end trading update, etc the SP rose by up to 4 times to 0.08p or �1.60p today. We may/may not get a post year end trading update as it looks like UEN do not always issue one but we will definitely get the CPR out sometime soon. A rise to �2.00+ is easily possible. UEN also paid a maiden dividend last year so they are trading profitably. ATB

I just can't believe a big seller has turned up to hold back this long overdue rise. 3 x 25,000 and 2 x 10,000 sells so far. Shame as there hasn't been a placing for years and why sell at 62p when there is clearly so much upside.

Looks like there's some volume and movement here at last. I'll repeat a couple of my posts from November even though they are still readable on this same page. "12.6 million shares in issue of which 6.22M or 49.3% are not in public hands." Despite UEN doing a 20 for 1 consolidation last year there has been no dilution for many years. "I can't quite believe it but there are exactly the same number of shares in issue now as there were back in October 2014 when the SP spiked to 0.12p/0.13p. Just the figure is different now to allow for the 20 for 1 consolidation. 0.12p/0.13p then is the same as 240p/260p now. 252 million shares in 2014 and the same 252 million in May 2017 at the time of the consolidation. 252million divided by 20 gives the current 12.6 million shares, 49% of which are held by management." CPR due soon. This was due by the end of the year but the RNS of 21st December said this would now be "available in the early part of 2018". The last CPR was released in October 2014 and caused the shareprice to rise by up to 300% on the day from the old 0.03p to a high of 0.12p/0.13p. The number of share in issue are the same now except for the 20 for 1 consolidation but the main difference is that UEN have significantly increased their portfolio of assets in the last 2 years. Production is around 2000 bopd and UEN own 100% of one producing licence and 98.56% of the other plus 100% of the 2/3 newly acquired licences plus most of the infastructure which includes at least one refinery. There are also now 2 shipments a year rather than the previous just one. Link to the latest presentation: http://www.uralsenergy.com/archive/presentations/Urals_Inv_Presentation_20_11_2017.pdf?v=231117

I was just worried by the slow progress at Dempsey but it looks very much like California Resources Corporation who are the operators at Tulainyo and the largest producer of oil and gas in California are going to go about it in much the same way. Just a waiting game now really.