Member Info for GingerHippo

Definitely, Washers.

Also considering the value. £16K is the ISA allowance if you've also used up your LISA.

In general terms I think looking at other people's trades is a very bad indicator of news, good or bad.

Well, negative posters...... What ARE the staff doing all day?

If you think AZ lied to us to keep his own salary going, whether I agree with that or not, at least it makes some sense.

But to lie to us so he can keep a bunch of other people's salaries going....? Where is his incentive to do that?

I don't buy it. The staff MUST be doing something.

Ben, we are incredibly, unbelievably, undervalued.

The question isn't why we have bounced, but why the bounce has only been for around £130K mcap when we are progressing on 3 multi-billion dollar deals...

When people are feeling pessimistic they can’t imagine things ever changing. They forget about how we moved from 0.2p to 1.2p in a matter of days when we got the JV with Sheik Ahmed.

If we get a JV with Power China we could easily go from 0.027 to 0.27 extremely fast, possibly beyond. If that’s followed by financial close, the sky’s the limit. And we have 3 major projects going.

Yes, I’m well aware that people will scoff at this post, call me a ramper, delusional etc. that’s ok, we’re all entitled to our opinions aren’t we, and this is mine.

Calling someone a "delicate hot house orchid" and a "Drama queen" is gaslighting. That's all this chat board has become.

I wasn't talking to either of you. You both just popped up to insult me. Thank you both for demonstrating my point so perfectly.

You think he got the CFO role at a company with over $3Bn in assets based on his previous role at the tiny, non-publicly listed Boru Energy do you?

Like I say, clearly he is looked at very favourably with the job he's done at United. You have a question on that. Why not try to leave your preconceived ideas aside for a few minutes, look at the appointment with fresh eyes, and try to answer your own question.

Vista, again, he's gone from CFO of a company with assets of $35M to CFO of a company with assets of over $3Bn.

Clearly he is looked at very favourably with the job he's done at United.

"What has been demonstrated appears to be your resentment"

See, this is textbook gaslighting.

Enjoy the rest of your day.

It's an absolutely massive step up for Peter, who will now be managing a company with assets of over $3Bn, compared to UOG's $35M.

Clearly he is looked at very favourably with the job he's done at United.

Beaub, thanks for demonstrating my post in real time.

Paul,

The chat board has gone quiet because certain posters' incessant negative posting and gaslighting made the forum useless. Shareholders therefore post their research elsewhere. Information is still available to those that look for it.

Ameen, if I had a time machine or a crystal ball I would obviously not have bought in until we were at 0.95p, but alas I can only base my decisions on the information in front of me. I am also not a trader. I believe UOG was undervalued at 3p and is therefore triply so now.

Waiting for:

The BP loan to be fully paid off so we retain more cash

Results of the significant exploration well currently underway

Potential refinancing of AS to fund another acquisition

Jamaica farmout news

Why would we sell it? AS is profitable even at low production.

EG, at 770 bopd and $80 oil, revenue is c $9.4 (including taking off the 57%) , direct costs (including depreciation, so this more or less includes reinvestment) c $7.4M. SO makes about $2M gross profit before admin costs (which we would have anyway). Our forex losses are nowhere near $2M.

If the new well is successful and we have another 10 million barrels, our share would be worth something like $44M:

22% would be 2.2M barrels. times $80 x 43% = $76M revenue.

Costs are c $5M capex drilling costs for various wells and c $12 per barrel = $32M

Gives a value of c $44M just for our share.

Easily a net present value of $16M by itself.

Toffers, I would like to read your posts, but you are currently overwhelming the board with what is essentially the same post written 500 ways, making it almost unreadable. So I'm afraid I'm going to have to filter you.

Please consider posting less. A lot less. Trying so hard to get your point across is actually counterproductive.

Vista, I suspect the farmout deal will include a healthy cash injection. So I think you're way off already on that basis.

Then work out a fair net present value of an asset potentially worth, what $100Bn lets say.... with just 17% CoS. It's a complicated calculation, so I'm not going to do it here, but I think if you get just $20M at the end of it you've definitely done it wrong.

We are well below the radar.

Today's RNS confirms what we previously thought. There were several parties interested in the farmout, and we have chosen the best one and moving forward with it. Brian said ages ago that we would probably need an extension on the drill or drop date so that is no surprise.

Seems like all parties need to get this done, including the Jamaican people who would really benefit form a positive discovery.

Anyone like to guess what our price would be following a successful farmout at Jamaica?

Confidence has been rocked (again), but given that the company is not going to be wound up because of a £100K fee, i don't see any reason that the share price can't get back to 2.7,2.8 in short order.

Not saying it will. Just saying it should.

It's just one of several possibilities off the top of my head. I have no information as to why there has been a WUP, especially since the balance sheet was healthy enough in the interims.

Shareholders in a company can also file a winding-up petition if they believe that the company's affairs are being conducted in a manner unfairly prejudicial to their interests. In such cases, the petition may seek the court's intervention in winding up the company and distributing its assets.

In some cases, stakeholders who have an interest in the financial stability of a company, such as directors or other creditors, may file a winding-up petition if they believe it is in the best interest of the company and its creditors. This can be done as a protective measure.

Some thoughts:

We knew there was a shareholder dispute.

We know there aren't many creditors, see the latest accounts.

It will be up to the court to decide if EUA is insolvent. That process will probably take ages.

If EUA sell the platinum concentrate I don't see why they'd be insolvent.

Maybe this will force their hand to conclude a sale, even at a haircut.

If CS is right about concluding this year, I don't think this is an issue at all.

On the other hand if we can't sell the assets or the concentrate then yes we are indeed screwed.

It's not "Jamaica or game over". We've only got 2 months left of the BP loan, after which we are making c £2.5M a year positive cash flow even after reinvestment in AS.

That leaves us with the potential to refinance at AS and buy another producing asset, and then leverage that oe to buy a third etc...

So even without Jamaica this is undervalued at £6M.

And if Jamaica does come off it's not "game over" but game changer.