The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
CT UOG are still growing and comparing them to I3e is unfair. As a previous holder of I3e they really screwed up liberator and then diluted to buy the Canadian asset which fair play to them was a good move. My point being that asset purchase heavily diluted holders at a rock bottom price. UOG are growing and not being careless while taking this path. Patience is key and as your a shareholder we all want the same thing. The BoD have said there will be NO raises unless there is a fantastic deal but at the current share price they wouldn’t do it as they are holders as well. GL to us all
They are being cautious in their guidance for H1. The business is fully funded with absolutely zero chance of a raise unless it’s to buy another asset. There’s 4 maybe 5 drills this year including two exploration wells. Production will increase as will revenue and fingers crossed the divestments complete soon. The market cap is £14m.
I think they jumped the gun with their pay rises to be honest. I have to agree that the wages are excessive for where we are currently, thankfully they aren’t going to take any bonuses until the SP performance is a lot better. Only way to do that is to increase production and cash flow and properly grow the company. I think they need to look at other assets to grow. The 2 big exploration targets will hopefully make a difference to our production on a success case.
Decent update and with oil prices expected to continue to rise will help out. Not going to auger coat the face I’m not impressed with being told the daily production figure and now guidance. From now on unless it’s in the RNS I’m discounting it.
His comment seemed like a slip to be honest rather than an announcement. You are correct they don’t officially announce daily production figures and give average quarterly figures…..however straight from the horses mouth as it were which is encouraging.
BL stated their current production was over 2000 back in November in a shareholder call. The company have said they are on target for their average production figures so water cut issue is resolved. The ash well has stabilised itself largely and is still producing though at a reduced rate. The well will continue to produce for years with a little help from the partners.
As I said Brian mentioned current production was about 2200 but that can vary day to day but shows they have stabilised the ash well. The Ash well will continue on production for years though at a reduced rate. Note no pumps have been fitted yet to the well as far as I know so it’s very positive to see it back in production.
Batch this is part of a message you put on here, I won’t post your number as you have asked for it to not be reposted. Can you please provide the link to the brokers that have said UOG need to raise or they will go burst as this is completely untrue and needs to be addressed?
RE: This stock....20 Jul 2021 17:10
It is though, many brokers have major warning signs and some project bankruptcy within 2 years without further capital raising. So yes, this is a trash stock.
I would agree that UOG are interested in another licence in Egypt given Brian’s previous comments and actions (flying out during the pandemic to show they are here for the long term).
I’m hoping that our enviable relationship with BP will provide us with some divestment opportunities as they move into renewables.
I would agree, there would only go to the market to buy a producing asset that’s huge compared to our current production. Let the cash build then see what happens, H2 should fill the bank account nicely with the extra production coming online from Egypt. Still have another exploration drill too.
I would agree, there would only go to the market to buy a producing asset that’s huge compared to our current production. Let the cash build then see what happens, H2 should fill the bank account nicely with the extra production coming online from Egypt. Still have another exploration drill too.