Member Info for jono44

Loads,

Remember oil is priced in the future so the price qouted today is for contracts in October.

So July. August prices would have been below $80 and hence my so far reference.

Granted October contracts are now hitting $88 and are predicted to go higher.

But also in my post I referred to falling production, which never received a response, not surprised at that.

Next drill will be ASM which is an exploration well which might come in good or not, last 2 exploration wells didn't work out as hoped. No definitive date for spud yet, just expected in September, or who the rig contact has been awarded to, need to get drilling to offset the natural decline in production and take advantage of the future oil price.

September will be an interesting time for uog.

Next exploration drill ASM, date, contractor.

Jesmond/Quattro deal deadline 15th Sept.

Uog /Quattro deal deadline 30th Sept.

Half year results in Sept.(27th Sept in 2022)

Possible update on Jamaica.

Loads,

Brent average price so far in H2 is less than average in H1.

Production declining everyday, stated in rns

'production from the ASH-8 well is now declining'.

As is every other well.

Revenue in H2 most likely to be less than H1.

No word on rig contract or spud date for next well.

Jonathan Leather gone so that will save about £25 a month.

But guess what it is 1st of September today so you can get somethings right, well done.

So if it's not the warrant holders selling existing shares that they can then buy back at 9p, then what is causing the sp to drift lower after all the good news recently?

What other possibilities have you explored..

It's so obvious that it the warrant holders selling that is dragging the sp down.

Cn 2 results due soon and it might give the sp a bit of a shortlived boost but warrant holders will stifle any rise.

Can't blame them, it's what they do and everybody here would do the same given the chance.

How low will it go that's the 64 million dollar question.

Loads I've answered that very clearly in previous posts but it doesn't seem to register, maybe one day.

Big red flag been waved today but doubt you'll see it.

Doesn't look good does it.

Jonathan Leather has been here since the start, he was always upfront and honest with any communication to shareholders.

Why would he leave now before any decisions on Maria or more importantly the Jamaican farmout are expected shortly, after all these years.

I think it's a big Hint but not in the way GH is implying.

Also Sharan Dhami's name and email address is missing from the enquiries list and she's been replaced by Peter Dunne.

For years she's been noted as the contact for enquiries on rns's.

Is she still head of Investor Relations or has she also left.

All imo, dyor.

If the trade is below the mid price it gets reported as a sell above mid price it gets reported as a buy its as simple as that.

I suppose you think the later trade of 750,000 above the mid price was a sell and the mm's were playing games with the reporting of that trade as well.

VistaMan was right.

Don't think the 'shorting crew' need worry about posts on this bb.

Just because Vistaman called you a fool in one of the deleted posts didn't mean you had to go and report his post and get it deleted, he was just being honest.

I said I wasn't shorting so I have no idea what you talking about now and think you probably have no idea either.

I already answered, in fact you answered it.

You've already explained it many times.

"Jono buys at 5p sells at 2p and makes a profit ?"

Don't see that trade yet, press the buy button, £8000 worth of shares in uog, go on do it.

Not shorting but if I was I wouldn't it be telling you to buy, would I.

Go on buy them, put you money where your mouth is.

But like I said, I don't blame you if you don't.

You beginning to sound like FormerFD and TheDogFarther.

Loads,

Stop talking about it just do it.

Buy these 670,000 shares somebody just sold with your £8,000.

You won't will you, don't blame you if you don't.

Loads, for the record, not embittered at all.

Also I've come to the conclusion that you don't really grasp simple arithmetic.

You keep saying over and over that H1 revenue was 6.4m, well e.g.add that to start of year cash of 1.4m that gives 7.8m.

But uog only had just 0.55m cash on June 30th.

So they must have spent about 7.25m in 6 months but the revenue was only 6.4m, as you've repeated over and over, so is that not a loss of .85m, do you agree.

Yes or no.

By the way H1 revenue in 2022 was $10m, $3.6m more than H1 2023!

No jackanory.

Well done chinch.

Loads,

While I can see why you are happy that there has not been a placing for 4 years maybe it's time for one.

Last placing was when sp was 4p and placing done at 3p.

Egypt has failed miserably and uog are no better off, well the shareholders aren't but management have been provided with a very comfortable lifestyle!

You keep quoting the revenue from H1 but that just goes out the door as quick as it comes in.

Cash at June 30th 2023 £550,000 cash at June 30th 2022 £3.8m, Yep revenue going out the door faster than it comes in.

OK loads see where you got your info, just thought you had a definitive time for next drill.

Just note that Larkin says that he expects drilling to commence in Sept just can't see how he's going to pay for it.

Chinch,

Jesmond released a news article on 30th May (tsx under ticker jes.p) which included this statement

'Quattro has also made an application as "Operator" on a 100% basis for certain blocks that have been made available within the UK 33rd License Round, considered by Quattro as strategic in nature. Should any potential block awards be made to Quattro by the UK regulatory body, it would be expected that they would be awarded in Q3 2023.'

Hope that answers your query.

Atb

Loads,

You need to take a good hard look at uog's finances.

They had $550,000 on June 30th, last year they had $3.8m.

Production continues to fall, no money this year from divestments.

If Maria goes ahead it will be after sept before they get the initial payments , now reduced by £1m to £1.4m less the £100k they have just received so will only get £1.35m instead of £2.4m, better for Quattro Imo.

Believe Larkin if you want but the imo the lack of funds is the real reason they haven't committed to a new drill yet and I certainly wouldn't rule out a placing or as he has already alluded to they might refinance the bp deal but that wouldn't be good.

Questions for you, what makes you say that next drill will be in sept, next month?

Think it was obvious this was going to be extended to Sept as Jesmond and Quattro had already agreed to extend their deal to Sept.

The UK 33rd License Round results should be made public in sept and Quattro are in for some blocks, if they are awarded any blocks it might make them think again about Maria.

Todays news which included revised payments doesn't bode well for United as if the deal does go ahead they will get £1m less in the initial payments which they really could do with, need money to drill next well and need to get it somewhere as it won't from egypt.

Contingent bonus payments will go up by £1m but they are years away if at all.

Certainly looks like quattro are in charge.

Big delayed sell reported after hours, I can understand why.