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The fortunes of our company are not going to be decided in the short term & that has been clear for some time, even if some of us were hoping that things could be short circuited & a lovely big price could be put on our business for a takeover tomorrow. When Brad said back in January, face to face with a few of us at the London presentation, that he saw no need to carry out excessive numbers of drills & that his focus was on selling the business after raising its value, he was setting out his stall. More land purchases were mooted as feasible & he lauded our increasing specialist drilling know-how with our specific conditions as pivotal. These limited numbers of carefully chosen drills can increase potential value as surely as producing oil out of the ground. We'll be paid on the basis of what we can prove up, leaving it to others to extract the bulk of the oil. If we aren't going to drill this year, it doesn't seem like a lack of funds is the cause? Hmmmmmm? Could we have some decent news ahead? We are all very frustrated & feeling sore no doubt at the ups & downs of the sp, given what we regard as the huge potential with this company. I'm resigned to awaiting news in the hope that it will signal a way forward to greater things. Perhaps my timescale has lengthened, but even the lower price of oil isn't causing me too much concern. GLA
it would be hard to fault Brad's achievements over the last few years in turning our company into a profitable oil producing company. Timescale is the key here as we have the land, the targets, the finance, the income & the knowledge to get the job done. That 'job' was defined back in January, when some of us met Brad, as preparing the company for sale. Not many expected a sale before next year & that is still entirely feasible. He didn't expect us to have to do inordinate amounts of drilling but was concerned to prove up land whilst possibly acquiring more, all to get to the point of a successful deal to sell the company. All about timescale, but we'd still like positive official news soon.
Interesting comments made here recently about what we might do with 17m dollars? Brad had suggested back in January that there was no need to raise more money or to drill excessively, & that the sale of the company was the goal. The new loan money could signal that we need to get more drills completed in the short term to get over the financial 'hump' to be producing a decent cash surplus month on month, all whilst proving up more ground to raise company value based on the CPR continually rising. It seems unlikely that buying a rig would be the way to go, but land acquisition was another he specifically mentioned. So I'd imagine news of a bigger drilling campaign is imminent with the possibility of an announcement of additional land purchases. I seem to remember that we were told of something like 150 identified targets? Interesting times.
I'd be interested to know more as it is a real disgrace over on USPU. Tim Huckle emailed me yesterday ..."Anyone posting USOP related content on it will be banned from posting.".... so I was hoping to see some action. I'd rather see quite a few bans handed out and the board kept with some kind of sensible rules applied, allowing critical debate. However, since USOP was removed by iii saying they don't cover GXG then to be consistent USPU would have to go.
We are where we are, and at just over a quid it is all 'handbags' with barely a market, and even then those very few selling take us down........ however, just a few words in a nice RNS and we could be well over two quid pretty quick. Makes you think?
We are where we are, and at just over a quid it is all 'handbags' with barely a market, and even then those very, very few actually selling take us down........ however, just a few words in a nice RNS and we could be well over two quid pretty quick. Makes you think?
This link gives the clearest picture of trades when buying or selling https://skydrive.live.com/?cid=8d22967e08885d13&id=8D22967E08885D13%21105
Those wishing to hide behind multiple avatars to post libellous statements, quote themselves incessantly under another guise, repeatedly misquote official news releases, acting in co-ordination with others for malicious purpose and generally seeking to cause actual loss to investors through spreading falsehoods, need to read the following RNS very carefully and contact their legal advisor.. http://uk.advfn.com/news/UKREG/2012/article/55222502?xref=newsalert Those wishing to 'fearlessly' post run of the mill bile, mild innuendo and generally misleading personal opinions, based on their own independent point of view, can of course continue to post. Intelligent, insightful, constructive criticism is naturally preferred. Enjoy.
£175 paid whoops! Hope that wasn't a T20?
145 paid - nice!
It is natural for folks invested here to reference their buys rather than their sells. After grabbing well over 20k cheap shares I sold a few back last week, and duly posted the fact after the event. I know those little 'beauties' all went to good homes and someone else has started to benefit from their ownership. By the by, are you in or out these days?
Oh dear! Looking back, it now appears that disciples of the 'Winifred' were the likely sellers in the modest brief 'sale' that took place, and it was those true USPOPIANs fortunate enough to be able to act quickly who snaffled up those cheap shares. The sp climbs 30% and with only minutes to go a mere 64k shares have been traded. It makes one proud to be invested here. Rather making the point that this share has always been for forward looking investors.
Those of us fortunate enough to have been in funds and able act managed to buy up a chunk of the 70k shares that went for under 40p - but to sell now would be quite premature. The sp dropped on a very modest bout of selling and it is going to rise further on confident buying. Believe!
It is rather tiresome when someone chooses to hide under one avatar whilst posting about another that would appear to be indisputably themselves. To talk to oneself is hardly conducive to good health. More importantly though, to pass off one's own comments as those of another, to quote them, critique them, praise them and generally pass them off as fair comment in the public domain, it is not just narcissistic and contemptible, but it is misrepresentation of a kind that has to question the very integrity of the poster. Since the 'quotes' being posted have been removed from the iii site and are no longer available to even the original poster, it is therefore inconceivable that the two posters aren't one and the same. The avatar in question has had posts recently removed here seemingly for misquoting officially published company news, so one would even have reason to doubt the accuracy of these re-posted quotes. Simply removing all posts where the avatar is in effect quoting themselves is insufficient since the act of misrepresentation is so serious. One hopes that action will be taken swiftly to ban the poster permanently from this site for the protection of all the investors here.
A few 'testy' comments there from the 'goalie' I feel when really we would all be better off looking at the facts as known. Where a well has flowed briefly from an identified column of oil over 150ft thick, one might feel confident that an imminent flow test would be highly likely to succeed, especially when one reads the comments of the CEO from his recent Q&Q session. I've reposted some of those comments below from Investor Primes's very helpful recent post. If our CEO is so confident, then perhaps we should be. Negative talk at this stage rather smacks of someone cheekily wanting to get in a bit 'cheaper' than the going rate. It is unfortunate for any inattentive newcomer who has just missed out on the brief sale but at around about £1 USOP are a real bargain. Worth reading the full Q&A of course. http://www.proactiveinvestors.co.uk/companies/stocktube/1446/us-oil-gas-ceo-remains-confident-1446.html http://www.iii.co.uk/articles/61003/view-top-us-oil-and-gas From the Q & A: - The fundamentals of this company are better than they have ever been. From having "potential" oil bearing zones, we have proven productive zones, including a very large one. - We are in the middle of the work-over programme. We have every confidence that we will be able to flow this well. I won't predict a flow rate, but the signs are very good indeed. - We have a confirmed discovery, and it looks large. We just want to get on with the next part of the programme. - The wax is an obstruction forming at the well because of formation clogging up. Local opening of the pores close to the perforations is all that's required. - We have lots of oil.
Higgs - I think you are spot on there about our sp rising and it is really quite exciting to see the confidence returning. Some posted about making a quick profit on cheap shares they 'say' they bought, as fantasy traders tend to do. Those of us who 'actually' snaffled up those bargains aren't about to sell them anytime soon. With the rise in volume this morning based on confidence, one can't imagine these prices holding for long. GLA