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Totally agree - not even back to where we were 2 weeks ago. Need compelling news for BOD showing demonstrating their commitment to the drilling campaign and they are doing everything possible to bring this company back off its knees
Couldn’t agree more - no point in buying up more acreage when we can’t drill the ones we have got
Maybe the institutional investors have placed some pressure on UKOG to convert to a trading company so their investors can qualify for BPR and IHT benefits. Investment companies don’t qualify for BPR And therefore no IHT relief
Appreciate that it is worth more in our pocket than in the ground but we aren’t seeing the benefit of the money in the bank - once we drill we need to find and add to the reserves. That’s where the real value is. If a football team had a squad of 34 year olds and didn’t invest in the youngsters then the forward looking value doesn’t look attractive. If they invest all the gate sales / tornement fees etc in developing their squad and investing in new players then there is longer term sustainability for the club / business Don’t get me wrong - I have 250k of these and want the very best for the company - drilling results are key. At 7,000 bopd we go through hell our reserves at the rate of 2.5m per year. We have 6 years OIP. If we don’t bank new reserves then in 6 years time to value of AMER is zero. Hyperthetically, this shouldn’t happen as they can acquire proven reserves (which I think will happen) and also get the drill bit turning. This I believe is one of the negatives for the institutions.
Can’t disagree with the comments but investors are maybe questioning the long term sustainability of the business. Reserves have fallen and every barrel out of the ground reduced them further. With the lack of drilling last year and the drill bit now moving as yet, we have no new reserves to grow/sustain the business. If we Hit the oil, bolster our P1 reserves then this is when the real value is added to the company. Until we do this, the companies assets aren’t worth any more - a barrel sold and money in the bank is a barrel reduction in our reserves. Maybe they are just trying to preserve the wells for longer hence production lower. IMO today’s fall is nothing more than some investors using the excuse to sell and perhaps buy in a little cheaper over the coming weeks
If the results are mind blowing good or shockingly bad the MMs will let you know pre-market on Monday. Nothing we PIs can say or do that will influence the share price. Happy to wait until Monday - if everyone was optimistic then volume would certainly be above average which it’s not. Maybe Monday will be as flat as today. Good weekend all
Let’s not get too excited laptop - it’s only back to where it was 10 days ago. Don’t get me wrong I want it to rise but we need solid news showing how the business is going to progress
Stock should show under current assets on the balance sheet so shouldnt have any impact on the P&L. what price however they use to value the BOI on stock is anyone’s guess
Year end account I believe are due by the 10th April - hopefully these will show the financial strength of the company in good light and potentially put the share price back in an acceptable trading range. Surely no more bad news in the accounts?
Don’t think they were all offloads - the ones as the back of 11 maybe bed and ISAs or T20 rollovers Share price would have undoubtedly fallen if they were all sells. My bet is that sales pretty much balanced the buys today - unless that is a large reported my not showing that will appear delayed over the next day or so