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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.
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.
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
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)"
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.
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.
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.