Member Info for jono44

More big delayed sells published after hours last night, £72,000 sold.

Someone knows something.

Loads

Jonathan Leather stated a while back that egypt had a decline rate of 15%-30% .

Production will not increase.

Also

'After producing for a number of months at rates in excess of 2,800 bopd (616 bopd net), production from the ASH-8 well is now declining. This is in line with expectations and the performance of the other production wells in the ASH Field'

Loads,

There isn't plenty of revenue coming in, why do you think they only had 550k at end of june( 1.4m end dec)

How are they going to pay $1m for the new well.

Production falling, uog are telling you that.

How much of that 550k is left, 3 months down the line.

They only survived because of the $5m they got from divestments last year revenue from egypt was no where near enough.

Funny how you never mention the money received from divestments last year $$$$$$$$$$$$$$

Chinch,

Think you should get your tr1 if holder that's selling follows the rules and the nomad does their job.

Doesn't look good.

£90k sale yesterday and a £65k sale last week obvious someone not happy.

If Maria doesn't sell then they might need to do a placing to fund the next exploration well that is expected to spud this week!!

Just speculation of course but something must be brewing and the big sell explains why the sp has fallen recently.

Oily don't think he can explain and In fairness he never used the $ sign so probably meant 7.5 billion rials.

But all might be clearer on Thursday when United publish their half year results.

Expect updates on Maria, Jamaica,cash balance,current production and news on the next well that is 'expected' to spud in September.

Thirdtimelucky1.

I don't think so as it's quite a large trade for uog.

Just my opinion but I would say it's a sell order that's been executed but just my opinion so don't take it as gospel.

Maybe see a tr1 as chinch suggested might happen.

That's a good point chinch but it depends on a few things.

The trade was less than 1% so in that respect if the person selling only had that amount then no need to tr1 or if they held up to 3%.

If they had more than 3% then yes they would have to tr1 because regardless of their holding they would have crossed a % barrier I.e say 5.6% to 4.6% so they crossed 4% so in that scenario they would have to tr1.

Another example would be if they had a sell order in for a certain amount then probably wouldn't tr1 until it was complete.

Also it's Aim which is so badly regulated they might not tr1 for months, or maybe never.

Bid was 1.05p and ask was 1.10p at time of trade and as the trade price was 1.06p it certainly looks like a sell.

Big delayed sell trade from yesterday just published, £63k.

Think it's fairly obvious someone wants out.

Blaim Thrower, totally agree.

Quattro/ Jesmond deal was supposed to be completed by last Friday 15th September it hasn't happened as far as I know as there has been no update by Jesmond on TMX.

This deal needs to give thru so uog can complete the deal with Quattro on Maria.

They need the cash from the Maria deal to just like they needed the cash from divestments last year.

Holders are right to be concerned about the Company's cash position.

That's better was getting worried.

Kwik fit !!

That's a new one.

What about Halfords, do they get nothing.

Thanks scored.

Rob00012 ,

This stock will get traded if sp falls, think a lot of traders are waiting to see what happens to sp over next few weeks.

Thanks scored glad you didn't mind me replying.

Just out of interest have you a price in mind and are you going to wait until after 24th oct to buy.

Don't think I'll wait that long but interested in others plans.

Cheers.

Very quiet here lately.

Did notice a big increase in UT's in the days just after JL resignation rns and now nothing.

Did JL sell up, no longer a director so no rns but just wondered why all the UT's kinda added up to his holding.

Maybe nothing.

News on Jesmond/Quattro maybe friday/ Monday.

Latest North Sea licence round results this month, Quattro applied for some, any well researched posters here know if United applied for any?

Around 46m warrants left to be exercised until 24th Oct at 9p a pop.

Think scoredagainsteps and others are expecting sp to fall as warrant holders sell existing shares to make an easy profit and replace those shares with 9p warrants.

It could happen and maybe explains why the sp has fallen lately.

If it does fall it could be a great buying opportunity for everyone, existing as well as new holders.

Think the sp will recover whatever happens but many will be watching from the sidelines each with their own price while others might also be selling hoping to get back in lower.

Just business as usual.

I'll be buying at some point that's for sure.

Loads your post definately implies that ash8 production for 75 days in h1 wasn't included in h1 revenue, doesn't it.

So let's put and end to the discussion.

Was production from ash8 and the revenue from Ash 8 from 16th March missing from reported h1 revenue, just a simple yes or no thanks.

Loads

Maybe I'm drinking to much pop just noticed you referred to 4th well not asm so apologise on that one.

Loads

Not sure you read my post but I asked why you said ash8 production wasn't included in h1 production figures when it's seems they were.

Ash 8 is not producing 616bpb but is declining as everyone who reads the rns's knows full well.

Also ASM is not near Ash but lies to the south of ASD!

Think your drinking to much pop!

Loads,

Let's post the full facts, from Operations update rns

"After producing for a number of months at rates in excess of 2,800 bopd (616 bopd net), production from the ASH-8 well is now declining. This is in line with expectations and the performance of the other production wells in the ASH Field. Based on our previous experience of the field, the impact of the decline is expected to be partially mitigated by the installation of artificial lift in the well during H2, and by continued production-enhancing workover activity across the Abu Sennan Licence."

Ash is production isn't gushing, its declining and no matter how they try to mitigate the decline it will continue to do so.

That's always been the way with wells in Abu sennan and the reason why new wells need to be drilled continually. Historically no matter how many new wells they drill production only decreases over time.

Can I ask why you state ash8 production wasn't included in h1 figures as it came onstream on 16th March and this was stated I the rns on 21st March

"ASH-8 well commenced production on 16 March at an initial stabilised rate of c. 2,980 bopd and 2.64 mmscf/d gross (c. 656 bopd and 0.58 mmscf/d net)"