Member Info for pijoe1212

wellwell & aduk the mcap of hur is now far above a value that (in my view) will be moved significantly by pi's by themselves. dont forget hur was a BBC news item (was it back last year?). i am sure it will be again "in the mainstream news" at some point. your are correct (in my view) about the "speculation aspect" - in effect i would suggest this can be measured by the value / bl 2C. 2C is inherently not going to earn an income ..until it moves into 2P (or of course a sale at 2C stage). i keep referring to the "market value" per 2C bl as this is a direct indicator of how much speculation is being priced in by the market. (one can have a view on the true value of 2C, but getting at least a good feel for what the market is currently pricing in has to be a key investment factor) regarding moving to main market - has to be good. many II's can not buy aim and given it would get some II 250 tracker fund money then an upward mcap movement would be expected (in my view!).

of course you can breakdown the numbers in several ways..but if one looks at the 2018 ye likely cash position and take the edison EPS nav/ bl and assume 6 yrs not 10 years..then one can readily calculate the current market value of the 2C. that enables comparison to other oily's. interesting why they took 10 years not 6...so far as i know all such research now has to be paid for by the co if put into the public domain as this has been. the cynic in me says they took the 10 years and the 2017 ye cash, as based on 6 yrs & forward cash the numbers would look massively weighted to the 2C. but i would also say the start date / cost over-run etc looks conservative.

interesting they use the 10yr EPS not 6 yr to get to core NAV

i have read the ii rkh bb for some years. often better posts than on here, but some carp also (cue borgo...)...welcome to all.

rbd has some interesting stuff on the go. coulter is the one i am most interested in. appraisal drill in effect next to wytch farm field..for as long as i can recall there has always been the view that big fields (which wytch is) tend not to occur in isolation..several ways to play this drill - i rate rbd as the best..

gerry..do you not find it interesting the placing has not been sorted? i says to me they are having trouble finding anyone to take the shares (or getting YA consent?)..

And rbd

Not all turkeys!!! I hold a few of them also( prd/ char) 😀

why is it SS fault? the mcap has been far to high..that is not his fault..its the fault of pi deluded dreamers.

for some reason i can not understand (other than PI rainbow chasing hope) ukog is still "worth" (MCap) �39.5M ....based on what?

i have been calling this one right for 3 years - rather than twice a day!..but not to say some peeps have made lots of money on the pumps...

do you recall telling me some months back they would do a placing / raise cash soon? you were rather rude. anyway..GL

To answer your question ( what have I bought into) . Answer is simple - a few bls of oil that can be reported as reserves. A few mil bls of resource ( which may or may not be recoverable reserves in due course) and a concept about oil in the Kim being recoverable. At this stage for concept read �hope�.

To answer the last part of your post. On an ev/flowing bls or 2p&2c asset value the answer is very over. Normally you would have a stack of prospective oil to risk value - Ukog do not have that. So what assets underpin the mcap - very little even on a risked basis.

You have questioned today several times that the cpr was incomplete/ defective etc. You are very wrong - it is a professional doc completed to proper standards with the scope dictated by Ukog.

Now who thinks -suspension/ equity issue and share consolidation is on the cards. What to do about outstanding loan notes? Do when price is low so equity can be placed or after a pump when takers will require much larger discount...

i think inner harmony has posted the reason i sometimes have issue with tidd83..(but there are far worse than him on these BB's!)

Was it clear in my post that the cost only covers wells not the power gen kit itself?

IJWT. pies.. big.. small ..increasing..no more...

i have passed comment about the "cancer" comments against GG being totally wrong. i note most have accepted this was totally wrong also. good. now i think panr will need funding prior to june 30th to get a clean audit report. this was always the case. as many state - what has changed?