Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Heidi, read the blogs closely and a certain prolific poster here (TAC) and you’ll soon realise they’re the same person. Blogs then recirculated by UJO’s twitter page which is no doubt run by the co.
Be careful folks, the same people are trying their hardest to ramp this, yes it’s good to see the co diversify but a few barrels of oil in the US are hardly going to move the needle. It’s a side-screen whilst the BOD keep earning their salaries……(and DBs wife of course)
TAC, in salaries I think you’ll find that David Bramhill (£287k) is earning more than EOG’s Will Holland (£270k)
Will Holland buys shares in EOG, David Bramhill doesn’t buy shares in UJO.
Also, is David Bramhill’s wife still on UJO’s payroll? Nice little arrangement there….
No need to be Rudey, Rubey….
TAC, Peni3tone Flags EA permit not expected until Q4 and they haven’t even applied for it yet. EA are (as always) working at a snails pace.
Will Holland explains the process here during the beginning and Q&A’s:
https://youtu.be/rXE2Rn9mv9U?si=gGmvgIFlM6MJNq8H
EOG are basically running Wressle now, I would take their word for it over DBs l
I guess it’s an Aim Casino.
IMO EOG’s share price will perform better this year than UJO’s. EOG have 30% of Wressle and trading at circa half UJO’s market cap, EOG have a superior more dynamic management team.
If/when EOG announce a farmout in either of their huge gas assets: Equatorial Guinea (1.3 TCF) and Ireland (1.4 TCF) both of which are close to existing infrastructure which majors are seeking, then expect a very substantial re rate in their share price.
UJO simply does not have this level of risk/reward with their assets. Time will tell, no need to be Rudey or Rubey ;)
Caesar, It really depends on different factors, sentiment (currently terrible), what the SP is trading at the time of farmout (prior positive news on ROI and NS projects would make a big difference), the terms of the deal (who had farmed in, % retained, drill timeframes, any previous costs to be back paid etc). With such a high COS, any farmout with relatively short time frame drill will have a very positive impact.
For me, anywhere between 3-6p on announcement depending on the above.
Confidently increased my holding over the last couple of weeks, risk/reward is stacked hugely in favour. Sentiment across all sectors is down, however it’s always the time to buy.
Buy, increase and hold to see how EG plays out this year for large gains. Anything positive in Ireland or NS is a bonus, Wressle is a bill payer (perhaps a little more).
Clear chart support below around 1p.
“The prospects are covered with 3D seismic and lie in approximately 80m of water with the reservoir targets at around 2800m which is drillable with a jack-up rig. The three prospects on EG-08 have been defined using standard Amplitude Variation with Offset (AVO) techniques and, within this area nine exploration wells have been drilled using the AVO techniques since 2005, of which eight are discoveries.”
EOG deserve huge credit here in landing this project at Equatorial Guinea and also refreshing their board (albeit from shareholder pressure).
At an investment of just circa £2.4million from existing cash (no placing required).
Prospects are next to existing production infrastructure (Chevron), have been AVO analysed with 17 wells drilled in the area with only 1 dry.
Extremely high COS in a sought after location.
Broker valuation of 28pps on a discovery (post farm-down), even if this is halved to 14pps it’s absolutely huge upside (without any value placed on Inishkea, NS or Cloughton assets).
Wressle is a great bill paying asset, however it’s not going to move the needle like Equatorial Guinea will.
Buy, add and hold this one to see how it pans out over the coming months. The risk/reward is an absolute no brainier with downside supported by existing production revenues.
What is it that the market doesn't like about ujo?
Everything I’ve been saying for many years, which however created many opportunities to trade and the only way to make money from the stock:
Stale board, without any new blood added with new ideas to add value.
Lack of strategy.
Poor decision making with shareholders cash (buying shares for treasury, investing in royalties, beacon energy, elephant oil).
Poor portfolio of prospects, i.e West Newton, Bisc etc (pretty much everything apart from Wressle).
History of leaks and other issues i.e placing for the exact same reason many times over.
Rampers who have set ridiculous expectations for the share price that were always impossible.
Shareholders desperately need (and deserve) new blood on the board (current board approaching an average age of 80) and new exciting projects to create interest and drive the share price.
Otherwise it’s business as usual….
Kawasaki, I’ve been quite vocal here over the years that the bod needs strengthening with new blood. You have to ask why they don’t and why DB does not buy shares. I’ve also been vocal with the need for new projects, there are deals out there. For example, read about EOG today for what can be acquired (coincidentally their CEO bought shares today and a few months ago).
Market likes the news and it’s something that I’ve previously mentioned the company was crying out for, allowing a new change in direction than the previous assets.
There is no dilution required and creatively acquired using a Subscription payment plan, absolutely huge rewards at stake if they can land a quick partner to drill.
I’m a buyer here
Https://www.europaoil.com/operations/equatorial-guinea/
“The AVO story is very compelling and, accordingly, we estimate the chance of success is estimated at 60-70% for the three prospects. Volumes across the three identified prospects are estimated at mean prospective resources of 1.3 TCFE (this figure includes the gas and liquids). Together, these three prospects when combined provide over a 90% chance of finding a commercial discovery and, as such, this is a high quality, low risk and high reward asset in shallow water with modest well costs.”
This is a real positive step forward for the company IMO, a very high COS, no funding required (farm out for free carry), next to infrastructure in a proven play / active pro O&G environment where the majors are.
Yet most on this bulletin board can not see it
Tony, PB would have been aware of the issue with nominees prior to submitting the EGM - but went ahead anyway.
Also, on another point, the "Requisitioning Shareholders” own a combined shareholding of approximately 5.24%, which is a relatively small % when you consider what PB holds. Which tells me he simply does not have the backing required