Member Info for JohnnySmiths

Also weren't there a trope of individuals here last year saying the farmout was going to happen "next week"? Well, it's been 8 years!! I mean, if that doesn't tell you something, I really don't know what you should use an indication for the lack of interest. This is HIGH level risk, majors aren't going to stump into this playing field, given geographic happenstance; a stone's throw away, Challenger almost filled for Chapter 11 chasing the Bimshire-1, 150 million sunk into exploration and drilling. Do you think a major is going to chance it, given the optics that transpire from chasing shadows, especially given Jamaica's fabled oil history?

@Citylide if you'll notice, information on their sge and pcs have been very piecemealed, in fact a lot of that has been magiced away into the farmout dataset. Finding thermogenic butane and pentane doesn't really mean much, given the prior drillings in the area, all of which found hydrocarbon systems but none of which were commercial. I mean, they basically did a program that validated just about every other of the 11 programs that failed to find economical oil fields. As for the guy questioning my English. It's called immigration :)

Oh I believe so too. Maybe that bb poster, isn't just a bb poster tho? :) Well, we all saw Challenger do the rounds, what major in their right mind. I bring you back to the Barbados 2022 auction, which is perhaps the closest proximity play to UOG. Have you seen the results of that auction? I suggest you actually make an effort to understand whats being said. Coming from someone that actually works for a major in the o&g industry. You'll learn the hard way gents, trust me.

The stock price is where it is, because this has been a recurring theme with this company, in that they promise this and that, but never deliver. Anyone that does have access to the data room, knows full well, as they have for multiple years now, that the data isn't worth a mention. This is contigous to Challenger who spent 150 million $ drilling their Bahamas properties only to strike dirt. The company were in such a bad state post that appocalypse that they were then acquired by Sintana as a distressed asset. You'll also have to look at Barbados' 2022 auction, and how that lot turned out. Its about the quality of the data, not some pump play where a bunch of posters on an LSE forum keep troiping out a bunch of nonsensical hopium induced stories about where this is going, only to catch themselves offside. No one will touch this. Just like the last data room, and the one before that. UOG have absolutely NOTHING!

I am actually invested here, but my position is very small. for the accusation that i do not read, preliminary results will be rudimentary and in no way conclussive. We will have to wait until they finalise these. No major is going to take any of this seriously until they have completed data collection, and have something conclusive.

As for Seasider, UOG are not the only O&G company i am tracking, but it is the only O&G company listed on the LSE. Nice story, but there are glaring holes if you look close enough. Well, we're going to find out one way or another. You have your opinion, and I will keep mine. Mine is backed with conversations with 20+ year experts in the field, yours is an armchair rendition? I think i would rather trust my own sources. But, as with exploration, nothing is ever certain, until its certain.

You guys really crack me up. So first, i am based in North America. UOG is the only company out of N american markets that i looked into, because it just seemed like an interesting story, and hence why i started digging into it, and asking around. My mentor runs an oil and gas company in the city i live in, and we had a discussion about this company. It looks appealing, but as i said, looks can be deceiving.

I rarely ever post on here, as you will notice, i go months and months without posting, whereas each of you including Trollman, post on here every single day. The results should be out late this year, yes, they will be delayed, as always. We will find out who is right once and for all.

I have taken a look at UOGs slide deck City. I think we have all been burnt at some point or another, you learn to be wiser. I work as a field engineer in the O&G space, my specialty is not geology, so i only go by what i am told from people more knowledgeable than myself. But there are a number of reasons why i believe majors have been very reticient to engage with UOG. The very fact that they are being required to conduct a piston core, should be a red flag, as a frontier play with 7.1 bil barrels you would think, would be enough of an enticement to bring someone in. Just read between the lines of what the industry is saying, or not saying in this case. The pitches by UOG are just that, pitches grasping for air.

So, i can mention a few that have been relayed to me, flow rates due to high potential viscosity was the one that was most impressed on me. Impurity of product, and also any potential geological features that might impede extraction. Everyone here is welcome to their own opinions, but i tread very very carefully here. I don't think management are being open and honest about why they can't attract a major. And when you only hear one side of the story, i mean, it is their job to pitch their product after all, but I would suggest caution is all. Something just seems off about WM.

@Thirdtimelucky1 I'm not debating this. But let's keep in my that no results around Jamaica or even north with Challenger have yielded anything worth mentioning. At some point, you just have to face facts and realise the company are on a fishing expedition, and one that like the other 11 times, is unlikely to bear fruit. UOG have been schilling this project for YEARS! I have a small position, but i'm not foolish enough to believe the sales pitch that Larkin has been selling for the past God knows how long.

Have you been following Namibian exploration, they find hydrocarbons and actual oil, and even so, it ends up being uneconomical. With Venezuela now under control for exploitation, any sense of need is whittled away. These results will tell their own story, remember, they are not conclussive one way or another irrespective, but once they drill blanks, it will finally sink in here. I have a very small position here, but the way some on here ramp, just gets me shaking my head. Be careful.

The only results you should expect are the ones where this company fails to deliver an economic prospect, just like the other 11 wells that have been drilled.

The real surprise, is all the hopiums finally having it land that this was a pipedream. I keep my reservations on check. Let's find out who is right. keep the cry blanket close is all i say.

The sad part is that the dissonance within you is so stark, that you accuse another poster of being the same person as me 😒You really must have problems in thinking straight, when the person says they are long, but cautious, and misinterpret their warning. Like, people couldn't possibly be this stupid 🤦‍♂️Well, we should be seeing the final assays come out some time late this year, we can finally put this to bed, and find out who is right. I pray I'm not, but the conversations i've had with mainstays in the o&g field, seems to point otherwise. If this comes out uneconomical, UOG is dead, you'll be lucky to sell at 1 penny because the company really don't have anything worth showing at this point. Their UK activities are a total dudd.

This is probably one of the biggest investment traps in the market. Once you realise that ev erything about this company is inherently fugazi!

I really hope you all understand what the risks are here, because reading through these forums, i rarely see anymore be equanimous enough to suggest at the other side of the coin, namely that piston core sampling returning sub economics. Let me just say it this way, if a major was so enamoured by the prospects at WM, why would they inquest the company to return piston core samplings. One would think they would have the comon sense to lock up the reserve before anyone else and circumvent a bidding war, but uog have now been schilling this project for what 4-5+ years now???? and not a single bite.

People only think with the rose coloured tints of euphoria, rather than see things as they truly are. UOG have said that by middle of this year they will have the results back, when have they ever met a timeline, it will more than likely be fall or christmas, and i believe you are all in for a rude awakening. Be careful is all i say, i've taken a very very small position, but i'm not stupid enough to think that it will amount to anything, in fact i consider this a roll of the dice on a hail mary, with a 80%+ chance of failure.

You're too funny firstmillion. Judging by your stock picks, I doubt you have made a million, because if UOG is any indication, you're out to lunch my friend. UOG do not have a viable oil prospect. There's a reason they've been schilling this project for 4+ years now, and not had a SINGLE major turn up and close on the interest. That should tell you everything. Jamaica has been drilled 11 times, count that 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, and not ONCE has an economic prospect been found. Just north of Jamaica also turned out empty with Challenger i believe. It should be pretty obvious to you by this point.

so your accussation, let me correct. First, UOG is trading range bound, look at the chart. I was not here downplaying the company when it was at 28c, and proceeded to crash. But weren't you and Little D, the ones saying they would have a partner in "next week", all of 1 year ago? How did that turn out?

The reason they are being asked to do piston core sampling is pretty obvious for anyone with a functioning brain cell my friend. Be careful is all, this piston core sampling fails, and you can kiss your money good bye. And judging by past failures, the thinking that this is not possible, well, it will be a rude awakening for everyone lets just say.

??? what is there to be bitter about? You are sitting at all time lows pretty much, the company keep giving out cheap shares and diluting your investor base. All the selling is coming from these warrant holders with new stock. @Citytilidie If that were the case, why wouldn't a major have locked up the land package circumventing a potential bidding war? I have contacts in the space, and from what i hear, that data was passed on by multiple players, one of which is in close proximity to the enterprise i work at. Maybe that icing, is just ice. Try not to slip and fall please.

So, 1 year later, we are still in the same boat. Where are the people who were yelling that a partner would be farmed in "next week", this was all of 1 year ago? Did comon sense finally set in, or are we still ramping a non existent oil play?

Let me ask you guys, if piston core survey comes back negative, and believe me, this is a very high probability, a lot higher than many on here don't seem to have the capacity to appreciate. Well, what then?

There's a reason no major has touched this, and are requesting the piston coring being done. If this was such a certainty, why wouldn't a major have locked up the land package as yet? You would think they would not want to get into a bidding war with potential rivals. And that says it all. Read what I just wrote a second and a third time if you have to. Rampers will ramp. "Next week" everyone! 😂

Them getting these results back, is quite meaningless, because piston core is not conclussive. If it shows negative, you are fuked! If there's a small glimmer of hope, the thinking would then be another 4+ months in the data room while things are analysed. Timelines everyone, check your timelines. Or would you rather we do the "told you so" again :)

Some of us, call that prudence.

I'm just very very skeptical. I am surprised more people aren't. I asked one of the geologists I know, to briefly look over that presentation too. Inconclusive, there are far too many fluvial systems like this with similar data that prove uneconomical, or not even hydrocarbon deposits at all. But possible.

Months delay is backed on industry standard times for farm in. I've seen anywhere from 6-12 months, we are only 2 months into this process. Well, see I don't really understand that, because Tullow just cleared over 600 million in EBIT, making that debt more than serviceable. For a frontier exploration program that touts as being the "next big thing" and akin to Guyana, why would they pass on a paltry 50 mil expenditure spend that could concievably cover the entirety of their debt obligations if it proved successful. Tullow are expecting another 1 billion cleared off the decks this year alone. That's now Gabon, and Kenyan assets they have disposed off. Gabon was only a 36 mil bbl play, vs. the supposed 7 bil bbl touted by UOG. How does that make sense to you? And one of the things you will also notice, is that they are actively scaling into Andorak's operations significantly. When you put this into perspective, alongside the issues UOG have had attracting a partner for this long, doesn't that concern you?

The deal, if one even occurs, is not "close". Certainly not Monday.

I don't think you guys fully understand how this works.

It is going to take 4-5 months to get his deal done. Be a little realistic guys!!

You are just setting yourself up for dissapointment if you think a deal is "close". What I am really confused about, is that Tullow have been supporting and partnered on Andorak's pursuits in Ghana, and Indo Pacific. Why is it that Tullow wouldn't come back to partner with UOG? Seems odd, that they would entirely divest, if there was any potential here at all. Its not like UOG have been crying out for a partner for the past 3 years? And from what I understand, the two still have connections and a great relationship, so why do they continuously choose not to return and partner? I'm sure Larkin has had these discussions too.

Guys, realise its going to take them another 4-5 months to complete this deal, if they can even lure someone. In the meantime markets down with Middle East war. Its not going anywhere. Relax.

Hi Louis. Well that NYMEX Futures contract is essentially the hedge that a oil and gas company will use to derisk a sale on each and every single contractual obligation for oil sales. A company can use ICE to sell crude, but they're going to need to hedge every sale. ICE is mostly used out in the EU and ASIA. Here in North America, it is almost always NYMEX. This is what I understood from the conversations that I've had with the traders where i work. Granted, i am a field engineer, and this really isn't the field of purview for me.

The issue i had here was that exploration spend increased, and it seems like PetroJam are being brought on to act as a stop gap for a lack of interest in the license. Jamaican government backing is great, but the question beggars, what is it that majors are seeing, or not seeing with UOGs data, that makes them this hesitant to want to commit to an exploration program here.

I literally just gave you the quote i was using, and its trading close of day 70.33. MyFirstMillion, its a highly insecure person who doesn't appreciate a contrarian view point because it contradicts their own interests, but then sees fit to insult said person. i have shared my reasons. lets leave it at that.