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I have seen a couple of AIM stocks have the same issue with india in the past, India is corrupt to the core and they will not be going for a settlement this easy, This will drag on for years, Anyone think India will just roll over and pay us money is very naive indeed, follow the rns's does india look like they are playing ball or actually fking off PAT,
Come on guys stop this sillyness this aint going no where but the arbitration courts which will again take about a year to get to and then probably last 18 months and then hang on for about 12 months before decision is made, I have seen this with other shares here which folded at the end
Was going to get in for a trade at this price but charts showing a massive fall to 0.55, the fund raise could actually kill this now, and depending on how the flippers have this could go on for a month,
What a shambles,
Multiple Majors interested
share price too low 0.12p
target share price anything between 1p to 1.5p depending who farms out with CEG
Targeting huge oil
Fully expecting this to come through as the license is great and right near shell and totals discovery's, wouldn't be surprised if SHELL or TOTAL are the ones in the farm out process,
Good luck to all invested here
A. Volumetric Assessment
A volumetric assessment of the the three primary prospects identified on the AREA OFF-1 block (Teru Teru, Anapero and Lenteja) has now been completed. This assessment has indicated:
a total Oil in Place (OIP) of ~ 6.5 billion barrels of oil equivalent (BBOE) across all three prospects (Pmean, unrisked), and over 16 BBOE in an upside case (P10, unrisked)
a total Estimated Ultimate Recoverable resource (EUR) of ~ 2.0 billion BBOE across all three prospects (Pmean, unrisked), and over 4.9 BBOE in an upside case (P10, unrisked).
Https://energycouncil.com/articles/uruguay-focused-independent-upbeat-on-farm-in-deal/
Uliel attributed much of the interest in the licence to ongoing exploration success offshore Namibia, where the geology is the direct conjugate of that off the coast of Uruguay. Additionally, there is “a body of technical work” that “adds quite a bit of value” to the licence, he continued. Challenger accelerated its work programme earlier this year, which included the reprocessing of existing 2D seismic data and AVO analysis, with the result that “we have identified three very sizeable prospects on the licence… two of which are supported by AVO”. Preliminary estimates suggest there is “around 2bn bl of resource potential across those three prospects”, continued the CEO. “We wanted to establish that these prospects are globally relevant… [the resource potential is] of interest not just to us, but to all of the major companies out there,” said Uliel.
All surrounding licenses taken up by majors, thats your clue that majors will be all over CEG's AREA OFF - 1 license which has potential multi billion barrels and maybe one of the most attractive licenses, If succesful they have AREA OFF - 3 for added bonus
Will a major FARM in here, Yes 100%, Will the FARM out happen yes 100%
Current market CAP is basically given away these shares, some people holding on to simon potters BPC, you will never succeed in everything or fail on everything,
This has got nothing to do with management or luck this has the license that all majors will want simple maths, do your own research, This will now start moving
The clue is there, Strange time to call an AGM, and at short notice,
Believe we maybe getting Drill rig news with possible drill dates attached
or the volumetrics way over then expected
Something big enough is about to land
10p next RNS
Farm out next month -worst case gets delayed by month or so, but its happening, Wouldn't be surprised if SHELL or TOTAL have run to them after their giant finds in NAMIBIA, knowing this is connected,
Excuse the typo on last thread,
Seen alot of talk on how much this is worth, I can say this is clearly worth right now 0.40-0.50 4 bags from here knowing what CEG has on its license and the fact the surrounding licenses have been snapped up by giants, and farm out process has been running for 6 months now,
Once deal is done its worth 1p thats 100m MCAP which is not even alot for what the target is 2b plus oil, could be a bigger find, Majors are looking at this, That alone says alot,
Go round some of the oil stock on AIM and they are sitting way way more then their MCAP and what they are worth,
Dont be surprised to see large rises from now on, As people start to look into this and realise how big the prize is compared to the current share price,
If the directors get ousted which is probably for the best as they have properly fddd this company to the ground and probably will end of delisting,
New directors will come in and consolidate and raise serious cash here and will dilute everyone to a new low, Nothing is going to get better here but once this all happens then it maybe a good buy depending where they plan to take this company
anyone holding on is crackers
Shamballs89 one for you from rns 30 oct
Bolhassan Di, Upland Chairman and CEO commented:
"The Company's full focus is on the SK334 PSC and developing the asset. The Upland team have spent many years working to progress Block SK334 in Sarawak
So end of year easy 6p on drill rig secured, easy money cant see why this aint 4p already peeps start buying lol, But imagine once they start drilling away making discoveries next year, this is one crazy share not to be in