Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Whilst I agree with sharebels sentiments the way this company is run does not inspire me with confidence. You only have to look at last weeks amateurish RNS to see what sort of people are in charge . I thought we`d reached the bottom at 15 and now our investments are half of what they were last week, whatever way you try to explain that.
I have confidence that the oil is there and that someone will get it out of the ground. The best thing that AM should do is flog the lot so we can get paid out.
After reading all the posts since yesterday and today and the RNS. Its about time after yesterdays ****show that our CEO came and gave a statement , a positive one.
Yesterdays announcement was jumped on by the MM`s to rip off the bedwetters and transfer the shares to their rich mates.
The SP whilst has recovered is still in a s*** position and to be honest a caring and carefully managed set of RNS`s would have this standing at 60p now. As a write thanks God its not 4p but its still half of what it was yesterday which is absolutely unacceptable. There is no need for these heart attack moments if properly managed. Even a child could see that if the statement led with JV conversations are positive, ongoing and we expect to make a positive announcement soon followed by we shut for two days because of bad weather no need to mention that at all followed by we are a bit short of cash but expect to sort that out with jv and and we expect lenders to be keen to lend because of our massive oil reserves. Update on this next in a fortnight.
Even if the £1 buyout arrives and we are all laughing its no way to run a company and treat shareholders !
Don`t often post here and like many have been excessively patient here though frustrated with the waiting. If you read the RNS it specifically mentions the sale when it didn`t have to and mentions it in a positive light. The market seems to believe that some big is imminent which I hope it is a 40% rise. Looks like this is the beginning of the end. To all looking to buy here in the event of a sale now might be a good time rather than buying in the 20`s and 30`s like I did. Hopefully this might back up the old addage of youve not lost until you`ve sold!
Blaim me old mate. We're on the rise , shall I buy in ? What say you ?
Why not RNS that we've found a cheaper envelope supplier, arts car has gone in for a service but to kwik fit not the main dealer, he's now using a company moped. Wait, just wait good news will probably come here in 2023. Anytime anyone normally says for instance we might start drilling in December is motivated buy wishful thinking. When we've drilled is when I'll believe it and more importantly so will the SP. An RNS saying the lorry has arrived on site is not What we're waiting for. Get real bottle merchants !
that's fair enough nailed on but it's as if most people on here expect an rns everyweek. If we got one tomorrow then we'd have what about this, then the week after what about that. To be honest in some ways we d be better protected from ourselves. If the jv turned into a sale, i don't want an rns about we are going into talks about a sale. Suspend the share for 2 months announce the sale price. More money for us lth s that way.
I've read some of the board this afternoon and cant help feel.its full of bottle Merchants and cry babies. Before I get the usual barrage of**** back let me explain.
Wed all love to invest say £5k have someone like art make an announcement a week later and turn it into 20.
We all know ourselves that it rarely works like that. If you want to double, treble etc your money you will more than likely have to put up with a misleading CEO, unnecessary placing, late and very late RNSs , deals not coming off etc etc. When they do good money can be made. If not you can lose the lot. Witness odx over the pandemic a possible 50 to 374 million contract with the govt to produce covid tests. That was what was announced then the BOD sold all their shares at 90p and 6 months later said that the govt was not going to take up the contract . Most people lost 90% of their investments. Here I believe we have a much better chance but I'd be very surprised if there weren't more delays, lack of communication and some wishful thinking on behalf of art. Latest one well be drilling in dec or did I mean jan.oh the parts haven't arrived let's say march. That's why the sp is so low because nobody believes a thing until it happens
I think you've got to look at the whole situation like this. If you believe that AM can get a jv done ,I do, then hold on because the SP will then rise to over a pound.
Do I think this will be done in a timely manner , no. Do I think these new wells will be drilled in December , no chance. Do I think we might have something by end march next year hopefully. My average is 38 so we've along way to go but the sp like the market doesn't really believe yet that a jv with Exxon or whoever is likely. What id like is a full sale of the company for £3 but let's be realistic we are likely to see increases in production on a month by month basis before any financing or JV agreements. Indeed there should be no need for any of the usual rip off placings, crap finance deals in the position we're in but with Arts previous history you never know.
Two important points ~ this time he's recently spent £100,000s on shares out of his own pocket and if you believe that there's going to be a JV (SP through the roof immediately), refinance ( modest increase in SP) or more wells in production on a monthly basis (stepped increase in SP, and obviously ever increasing as more wells come on stream) or a combination of all three then this must be a good punt at this price as the oil is there and it's ours. It's just a matter of whose going to pump it out and for us shareholders how long and by what route AM takes with this. To be honest I'd just rather a straight sale of the lot, it's easier to arrange, manage and more rewarding. AM 's ego like many MD's egos often get in the way of this though as they always want to be involved which they most definitely won't be if a massive oiler does go down a JV route.
Lastly no need to bother about any of the tools on this board of you believe some of the above as that is what your investing in not opinions on this BB!
Just had a look as the update which is simply a holding statement. Yes we're all disappointed that it's not jam today or for that matter tomorrow but maybe in a few months. If you take a month out for Christmas we've probably only got 10 weeks to wait for the JV and finance deal. This is what we are getting on, I don't necessarily believe that these will be achieved (after all its AIM and all the liars and cheats that often run these companies) but think there is every chance plus Art has indeed put his money where his mouth is. Won't be a pound by Christmas but might be end of Feb!
I don`t post much here but am getting pretty sick of the s/s around the sp. On the negative side the SP has been absolutely destroyed by AM over 2022 and we should now be talking about a rising SP from 50p to 60p not f***ing 15p.
Yesterday`s wet your knickers parade was we`ll get permission for flaring and off we`ll go, yer right, down today. All facts ladies and gentlemen.
So, there are two pieces of good news, we seem to be sticking to a plan and be moving forward. (This is indeed rare for an oiler of this size believe me do not underestimate this.) This is not yet reflected in the SP but again there is a massive rider on that in the we came of suspension at 38p are in a better position company wisethan then and the SP instead of doubling has halved. So that is also a big pile of s***.
Next up AM buying of shares excellent news and a substantial amount which must mean is not a fop to the market like buying 20k`s worth and surely must mean that at least he thinks he`s quid`s in!
Lastly and probably most importantly the good news potentially but I actually think most of over the next 9 months has a great possibility of coming through, increased production, JV, new field etc.
Of course we`ve got the usual shadow of the sly and underhand placing but if AM cares anything about PI`s which Ims sure he doesn`t he`ll properly finance the company through a buyout, JV or getting money from a proper lender. And another thing he could do is every month provide us with an update of production and wells. I`d like this to be done in a positive climate like this as most of this can only be good news and keeps companies honest (which is probably why most of them don`t because they can`t keep their promises)
For most of us to break even buying in the 20`s and 30`s there are simply two things that will get us up there one is a mighty RNS about a JV or buyout, SP rockets immediately and continues on a 3 monthly basis as more JV progress is released. Secondly the monthly increases in production which could start adding 20 to 30% per month.
We must be on the verge of big increases here but I`ve been convinced of that before and been sorely disappointed however here there's good news coming slowly but surely which hopefully we will see a few big announcements that relate specifically to income not potential which is all we`ve had so far and that will at last get us back to 40p where we can then all relax and at least know we`ve got our money back. (I`m also hoping for a £3 buyout but thats part of the illogical dream of being a shareholder in companies like this !!)
No logic to this at all a massive RNS`d discovery SP drops ! Takeover CUDA SP lower . We were 38p without all this progress now half that ! I like everyone else wait until the discovery drops will double on that alone soon be a pound. Just a question of holding for another 6 months until the drilling gets going. Shame really because this should now be at 60/70p ish and well on its way. I don`t know much about AM`s shady dealings previously but here he`s done what he said which is a big thing on AIM too say the least. Perhaps the presentation and the imminent drilling actually getting some oil in a barrel will change things ! I`m fairly numb about the whole news today as surely to God at some point this price must move up as things most definately are going in the right direction
Like to reiterate a couple of things here mentioned yesterday. This is all getting deflating now for a number of reasons , the bod comms has been poor to say the least none of the deadlines they have set themselves to issue information shortly have been followed up. Now they've only implicitly admitted after years that things are going to slowly ( you can say that again) they've appointed another director who they hope that can sort it out. You wonder what all these highly paid advisors are doing.
The most important point this is leading to is the sp. Let's say someone was willing to pay 5times the sp. £1.50 From the 30p that it was is massively different from the place that it is now which would only put many holders just above what they bought at. Let's hope the AGM will not just contain the usual boredom about executing a strategy we as owners deserve more
What's the problem here ? The bod tried to convince us that they had a minimum £50 million contract. They didn't in fact they didn't even have a clause that said it there are no orders we will gets as a m inimum. Thought that would be great as did us investors. They new the whole story and we didnt. As time ma rched on they b ecame more and more nervous as not liars but incompetents in any walk of do. The truth will out but what are we going to do. Eventually they had to say that we signed a contract with none of the commercial costs inserted that anyone who knew what they were doing would. We invested at the time on the news that there would be a £50 to 374 million contract . They misled us several times as the clock ticked. Even selling their own shares at the time. To be honest I hope they all lose their jobs and their wives have to go on the game. That I'll teach them!!
Let's be honest here the BOD here have no integrity whatsoever share price sell, misleading info 're the contract, tweets, the salaries they draw, the shares they hold, their comms et c etc.
Why anyone would want to invest now in this needs their heads looking at . They've lost people thousands over the last year why would you want to subsidise their ridiculous and underserved salaries.
he was bang on there was something in the air a terribly bad smell called CTEA.
Hardly any money left now to pay their own wages, no news about the time machine/horse racing system/secret of alchemy
they were working on. Some of the shareholders of the pointless purchase of somebodys` mates company has got annoyed as well . If anyone has any left of these I`d sell the lot before suspension .