Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
As I have already stated. What I posted was the below. Which is factually correct. I questioned it was around 1.7k when 'acquired'. When 'acquired' is was over 1.7kboepd. I never said anything about when they announced the intent to acquire. Even then though. 345 extra on production for 3 years work and millions spent will never be seen as good value and this is reflected in the value of the company dropping, even when oil price is $20more then it was 3 years ago.
Other oil fields have decline too. This is correct. Not at the rate of abu though and those oil companies often jave multiple assets producing. UOG have 1. 1 in steep decline.
"Wasn't it about 1.7k bopd being produced (net to rockhopper) when they acquired the egypt asset"
UOG acquired rockhopper over a month after ASH2 came online. So my post was accurate.
While we are talking about letting the crowd decide why don't we let then decide the value of UOG. Oh wait. They have. They have decided its worth less and less as each year goes by.
The crowd dont need to decide. Its already been decided. 'Exact words' has a specific meaning. Its not open to interpretation.
Yep. So not what you claimed to be my exact words. If you were honest you would admit you're not highly intelligent either. Not many people are highly intelligent. Or are you a member of mensa and you've not mentioned it.
I know you like to think of me as stupid but I'm not. I posted
"Wasn't it about 1.7k bopd being produced (net to rockhopper) when they acquired the egypt asset"
UOG acquired rockhopper over a month after ASH2 came online. So my post was accurate.
If you want to be super picky and say that the rate was lower when they first agreed to buy Abu then it was 1100boepd when they announced they were going to acquire RH. Its 1445boepd now after 3 years of drilling new wells at a cost of millions of pounds. Overall the production is in decline of you were to plot points on a graph and look at a trend line. Even with the measly 345boepd increase, the value of Abu is surely less as there is a proven decline issue without constant drilling. Drilling which costs lots of money and time.
Youre splitting hairs here. We're talking a month difference but you're wrong anyway.
ASH2 came on stream on the 2nd of Jan 2020. The acquisition completed on the 23rd Feb.
The point I'm making is that the asset is actually producing less even after 3 years of fairly heavy investment in it. Thats why UOG is stuck where it is.
"You are not very intelligent.
Your exact words. And well done for being brutally honest with us all."
Thats a lie. They weren't my exact words.
This non holder thing you like throwing at me and Jono is just silly. Someone's status as a holder has no reflection on their understanding of a stock. You could even argue a holder of a stock will more likely see it with rose tinted glasses because they desperately want it to succeed.
From January 2020 RNS, just after the acquisition of Egypt was about to go through.
"Since ASH-2 came on stream, gross production from the Abu Sennan licence has averaged c. 8,000 boepd, which equates to c. 1,760 boepd net to Rockhopper's 22% interest."
I'm glad you agree with me hippo. I might say you're not highly intelligent either. With you still posting about how great UOG looks after years of it falling in both market value and oil production figures.
Its funny how people only ask where jono is when there's been a good RNS. No one was asking where he was after some of the recent stinkers.
Re-rate. How many times has this been said about UOG. It's never going to re-rate until they show real progress.
Yes, they are paying off debts slowly and selling assets but in terms of growing revenue, UOG just aren't doing it. Lots of posters singing and dancing about the latest RNS but there's no significant progress there. Jamacia is just a pipe dream still. Year after year they state they are in talks of various levels to develop it but nothing has happened.
Wasn't it about 1.7k bopd being produced (net to rockhopper) when they acquired the egypt asset. So its gone backwards after years and millions spent on drilling how many Wells? Until this decline is addressed UOG won't be going far. The odd good well result just slows the decline but overall its still declining. Lets see what production is like in 6 months. Probably (imo) back in the low 1k's or maybe even below and UOG will avoid giving up to date total production figures again.
Classic Guy
Thanks for the input, Guy.
You might want to look at the links between these companies Terry. Guy is essentially paying himself with that contract.
Oh yea, the very genuine Zak Mir who has an excellent record for predicting stocks.
Sharepoint following the crowd? Surely not? It's not like the last 3 stocks they have been posting about are VAST, ITS and CORO
Back with both feet in the 30's today
Let's not be silly now. This is not a short squeeze.
Sorry for not replying earlier biglad. I was dropping all my money because I was in such a rush to get it out of my pocket to buy CTEA shares. NCTrade is big on this so it must surely be coming off. NC tells us COVID is back. That's great news for CTEA. They made loads of money the last time the world shut down for COVID didn't they?
...Wait. Did they make loads of money?
Hang on. They lost money. Oh yea. Now I remember.
I got out a long time ago fish. I made a small profit on UOG but it was mainly down to luck that I bought when it was at a low (at the time) and then gained some momentum. It was posts on here about the decline and the shifty way they used multiple currencies in RNS' to hide the level of director salaries increasing that led me to decide to sell.
I notice FFD have deleted their account now. A sure sign of someone who is just a ramper and not a proper investor who has made a bad call.
Why exactly shouldn't it be dropping? Production is in decline. Every well that doesn't deliver is another nail in the UOG profit coffin, meaning that they may struggle to fund new drills and have to start raising cash somehow.
Every well that doesn't significantly increase production is a further sign that this field isn't all it's made out to be. They can't get along with wells producing 200bopd and under with the cost of the wells and also the massive salaries the BOD are paying themselves despite the company underperforming.
If we are talking about being things being priced in then what about the decline. Is that priced in? Jamacia is just a pipe dream and Maria will be years down the line if it does even get off the starting block. The only thing fairly certain to make money for UOG currently is a fast declining bopd figure from Abu and the hibiscus payment that is due.
I notice The Earl, jonesrichard and other people have stopped posting. It's almost as if they were here for some reason other than to provide opinions on CORO as a potential investment.
I'd say if would be good if the FCA would do what the SEC in the states has done and investigate these people but they're probably making about £500 a year so I doubt the FCA would be interested. They do little harm apart from clutter up boards like this , twitter and drag in the very occasional new investor into their web of lies.
You post on a public board to remind yourself? Shall we all chip in and buy earl a notepad and biro so he can remind himself of things somewhere else?
I agree 28. Some bad names there. Just look at their posting history. Dross stock after dross stock that do placing after placing. I had a small punt of £3k here at 0.349 and I dont like the look of the people involved here. Daniel Levi with a article just speculating. I'm looking to get out if this spikes because I dont like the characters involved. As you have pointed out, they usually only get involved with companies that go nowhere.
They do. Earl posting 7 times between midnight and 00:30. The clue is that they start multiple threads and basically talk to themselves.
"Thats an amazing sign isn't it earl?"
"Yes it is earl. I agree"