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I appreciate that John, thanks for the comment.

If you work it out via market cap yes valuation would place it there under current outstanding share volume,

PE ratio works out a little lower at 1.8p before it becomes overvalued.

If a farm out is secured the up front cash would be the next factor for SP increase not the potential in Uruguay this would happen almost immediately once announcement is made so no jumping in last minute.

Eytan is trying to change the markets perception but in reality the market is right at this current valuation of Uruguay it is a liability and dead duck currently, basic economics it’s not producing income however is costing the company to maintain which makes it a liability even though the price of maintaining is played down by the ceo it’s still costing a company that is borrowing to survive, market sees this until the gov opens the doors on drilling this is how it will stay and if no farm out is secured game is over.

We seriously need the sale to PRD to happen soon as this cash flow is needed urgently so the terrible funding program recently taken up can be stopped and will drive us up in sp.

But be aware a share consolidation will be on the cards and then further dilutions after the above happens it’s the only option this company has till it can fully support its operations off oil production which may not actually happen for many years all going well.

There is defiantly an opportunity to make money here in my opinion but it will be over very quick when it happens, greedy and green investors will be exit liquidity for those who understand the true condition of this company.

Just answered that in my previous message, do your research willec, and look up these protection zone there is a detailed map online, along with Uruguayan official explaining the rational for letting oil majors into Uruguay acerage.

It’s not mumbling willec it’s an important fact affecting Uruguay exploration which the ceo has failed to highlight at all. Worth investors knowing if they are new to this share.

Regards CEG valuation it has been valued at £198 million in assets which would logically make it undervalued in share price.

I do believe it will go up in SP, I am not a believer that it will have a successful exploration in Uruguay under current conditions even with a farm out, these protection zone are significant and could be a length and costly court battle to fight.

That’s if Uruguay gov even allows drilling to begin.

That’s not being bearish or negative it’s just reality of investing these things happen.

My guess would be a potential deal has been dangled, if the majors invest in proving oil is there they would be given priority in drill permission if it aligns with the governments plans, for developing its own oil reserves. Environmental protection organisations have already petition a marine protection zone which was granted and would need to be challenged through most of shell and CEG acreage before drilling could even be given a green light how long will that take? as we have discussed on this board before.

Because the Uruguayan government has already said so willec, they have not given permission to drill only to see what oil reserves they have in the area.

I am invested willec, I have a interest in this share going up, but you can’t state a farm out will happen, a rise in share price is not evidence of the fact at all, after steep declines rebounds typically happen.

Eytan is very careful in how he words the farm out potential as he could be accused of misleading by stating it will defiantly happen by the end of the year and be sued by investors, he can’t control offers all he can do is choose to accept or decline and show the opportunity in Uruguay to majors.

You also are breaking the board chat rules by stating this kind of thing it’s called inducing people to trade on false information. So I would be careful and keep it factual from now on.

There you go willec, a misleading statement by you, you have absolutely no idea if a deal is being struck nor even offered,

You are falsely stating something is in the pipeline, that’s why investors disregard what you say and call you a paid pumper,

Eytan has used words as expected or hopeful and progressing as well as expected. There is no wording say it is a 100% about to happen. Stop spreading false information and people may just may listen to you.

Firefighter, my guess is willec will be referring to the broker reports that CEG funded when they switched brokers earlier this year, you can find them in the RNS, not at all conflict of interest of course, hope that helps.

Just simple business at the end of the day John, CEG Uruguay license is ground for exploring CEG assets valued around 196 million, major comes in and take up a stake in a small oil company with its stock in the toilet at 3 million market cap, commit a few more hundred million to explore takes up a handsome stock position for pennies hype hype, retail believe the story then off load their positions after the big announcement and high oil prices when everyone is bullish consolidate the stock to make it look a success story and rinse and repeat for another few years. Both parties work out nicely and retail holds the bag as always, Uruguay has been a stomping ground for majors for decades without any real finds but they have committed hundreds of millions pretty much each decade to explore.

It’s a game played many times over in the past we have all seen it before,

With the excessive profits majors have made the last couple of years a few hundred million is walking around money and a tax right off if nothing comes of it.,

Eytan has shown to be a deals man, he is not an oil man his call on production increases proves you can’t plow money into old wells and expect better production, I bet the ground crews working the rigs could have told him that if he asked. He spent like a drunken sailor to increase production without thinking it through risking the companies finances again, buying up more land with old wells was a desperate act to make the company look more viable paper up its asset value. This new funding agreement is terrible like you said death spiral finance, he knows it too but predators delay in handing over the cash for the sale of Cory really nailed that coffin.

I wouldn’t be surprised at a deal being made I have left my position in even though it broke lower than my expectation we can debate as much as we want but none of us are in the board room where the decisions are made, speculation is our game.

What you say burrenboy is actually quite interesting once I read that I recalled Exxonmobile did a farm in with total back 2015 in deep water in Uruguay. I had to check the article and they to jog my memory they were a mystery partner awaiting gov approval at the time and bought a 35% stake in total as apart of the agreement.

I read that too GG, from what I could figure out it is an estimated valuation of production potential of oil fields held but currently aren’t drilled or producing.

A guesstimate!

Nasty nasty decline, feels like a panic sell off is incoming. Retail are jumping ship!

But CEG hasn’t been suspended, it’s called recession we are in it, back in December last year an investor called Jeffery gunlach said in a interview defaults would rise 9 months out from then on higher interest rates. We are smack in the middle of his time frame stocks that rely on debt finance to survive are going to get crushed, assets won’t save them if their liabilities are higher.

Msys was running off financing in its cash flow it was running off borrowed money,

Had more assets then liabilities but basically was a zombie company,

Exact same with dvrg relied on finance to survive in its cash flow. A zombie company.

Seriously burrenboy, you’re overdoing it don’t you think?

Maybe that was my first thought too, but wouldn’t it also be pretty good timing if you just loaded up 60 million shares at the very bottom when no one would question it.

Can’t take nothing on face value here,

Burrenboy - you are concerning me, a bit of a tirade you have had the last week from a silent position for months now. Like an investor who just bet the house on a stock and is panicking.

It’s only money at the end of the day, my opinion, I have watched this stock multiple times get to the point of breaking out and just like magic a rns comes out the same day and clobbers this stock down to flush out retail,

Eytan just caused capitulation of bulls with that last rns and then he bought up shares what! 60 million was it?

We are being played here, the sell pressure since last Friday has been a kill off of retail… why you have to ask?

Burrenboy CEG assets are valued at over 180 million as of December last year.

I noticed mick the interest was taking off any loan amount first paid in advance, I bet the funds are secured one against the stock sale priority in case of default and secondly against assets.

It’s a choke hold deal against the company.

A lender of last resort I am sure.

To me I can’t help but think how incompetent eytan is running this company, he is constantly hanging his hat on a farm out situation to survive, as he wants the cash boost from a deal. He keeps advertising this and the bad situation grows now taking on debt again in the company, why on earth would you do that to secure a good deal for the company and Uruguay put it against a already beaten up stock, is he unaware his potential partner watches his interviews?

He is advertising his vulnerable situation to all… a major just needs to do is wait and let CEG fold due to bankruptcy and take the license for cheap.

It’s really an odd way of doing business, never advertise your weakness he is even giving them a timeline of his desperation.