Member Info for VistaMan

General Levy, all of the Decom costs etc were factored into the Acquisition Cost of Marathon assets. Remember the acquisition came with $374MM of cash and the number you quoted was pre-tax.
If you don't like those RRE numbers how about I3 Energy acquisition of Gain/Toscana in Canada for $28.5MM. They got 10,000 boepd for that (mostly gas and liquids) and 2P reserves of 58.5 MM boe.

Traditionally acquisition of oil producers are evaluated in a number of ways but 2 of the most commonly used are:
Acquisition price / 2P reserves and Acquisition price divided by flowing barrel per day.
The tailwind acquisition yields $18.6 per 2P barrel and $52k per flowing barrel.
This seems at the expensive end of acquisitions although I make no attempt to place any value on tax losses.
Contrast the RRE Marathon Acquisition numbers of $6.5 / 2P and $17k per flowing barrel. I used RRE as a comparison because I had the numbers available.

GP7, the real issue for me is that the BOD (Larkin) always overstate potential positives and don't like to confront realities / negatives, that's why I as a shareholder am forced to form my own opinion rather than rely on what the BOD communicates.

GP7, every drill carries a risk and therefore predicting outcomes is hazardous and needs to carry a health warning. I think your posts never reflected the downside possibilities.
ASH4 carried additional specific risks:
1. Previous ASH wells have watered out indicating potential limited connected volume
2. This well was targeted based upon new seismic "interpretation" , that was a risk in itself as whilst explorers have to rely on seismic if you look at the success rate for many companies over many wells it's not that high.
As for the upcoming exploration well the, risks are obviously much higher and in my opinion outcomes should be talked about as hopes rather than a guaranteed SP catalyst.

Good point Blaimthrower filtered now, there is nothing worth reading there anyway.

And by the way FFD, I actually was a Technical DIRECTOR in a DOW 30 company before I retired.

FFD, you don't know me or my investments, I post very rarely on a small number of boards and it tends to be the ones with poor management that I post on.
Deplorable investment record? I am invested in 60 shares and made greater than £200k profit last year.

Nobody with any knowledge of oil and gas shares believes the BS that BLather and the BOD put out. They are only interested in drawing inflated salaries and benefits.How can you describe it as growing company when production has dropped from ~3000 booed in mid 2021 to ~1000 booed currently. ASH4 the big hope based upon their "super" New seismic interpretation, not worth the drilling cost it appears. Why would you take for gospel what they say about future wells?
As for FFD and GP2, I hope they are truly embarrassed by the ramping and I hope as few investors were taken in by this BS.
My view is that based upon current production rates the company will struggle to pay overheads and the BP loan. Looks like Abu Sennan is increasingly a busted flush. Hard to see where they go from here. I think Jamaica and Maria are pipe dreams, they will never be able to develop them, they don't have enough capital or ability to raise. Remember. The market ascribed hardly any market value to resources that haven't been drilled / proven.
Really sorry I ever invested here.

Fish, don't forget that the ASH field watered out just a few short months after ASH3.

Folks, I am certainly not an expert on this but I would point you to the KISTOS Circular issued on June 9 prior to the AGM. In particular look at Special Resolutions 14 and 15 and the subsequent section on UK Tax Matters. Reading this every shareholder as 18:00 on October 10 will receive a bonus share for every share held. They will appear to be cancelled 2 days later. The circular appears to suggest to me that a monetary value will be provided upon cancellation of the bonus shares. Why would the Circular refer to income tax if not?What does anyone else think?

DaveTravers1, Yes, being down 97.3% means there is literally no point in selling for me. Not that I expect it to recover in any way, shape form or fashion!

First of all I have been a shareholder here since January 2019. Up until Q3 2021 I was quite positive on UOG even though I thought the BOD were overpaid for the size of the company. What changed my opinion was how the BOD communicated the "watering out" of the ASH field which effectively halved the production rate at Abu Sennan and despite all their "drilling successes" has not increased since. The ASH field decline was a very significant event for the company and should have been communicated by a STANDALONE RNS and not relegated as a post period event in the 2021H1 report. There was no further communication on ASH despite the comment in the 2021H1 report that the water cut and production had stabilised. Stabilised at what?
Likewise I can never understand where the cash generated disappears to? Why did we have to extend the BP loan duration for instance?
I still hold all my shares but will look to exit if the SP gets near my average. If we had a BOD respected by the market I believe we would have a higher SP.
If you want facts then UOG prefer only to highlight positive ones but if you prefer a bit of "rampy blather" then UOG is the share for you.

Rhodi, once again your opinion has been proven wrong. Luckily nobody pays too much attention to them.

I see the ECO Warriors targeted the UKOG AGM on Tuesday and disrupted it requiring a change of rooms and the police to be called.
They can't be too bright otherwise they would have targeted a company that actually produces Hydrocarbons.

Typical report from Sanderson, lots of verbal waffle about "projects" they have no hope of progressing or funding because nobody will ever trust him. Its all about keeping him in a job with a super inflated salary which bears no relationship to his value creation for shareholders. (Should I say value destruction)
Then, hidden at the very bottom, the financials, a miserly £910k revenue for the 6 months where Brent averaged $90 per barrel. That works out at a massive 68 barrels per day although he chose not to report this! And yet some people think UKOG with its £18 MM market cap is undervalued! As a point of comparison UOG which I don't particularly rate have a production rate of ~1500 bpd and a market cap of £11 MM!
Disgusted this man remains in post!

I am not a fan at all of the BOD here but if the SP goes much lower even I will be tempted to average down.

Sent

M.S., Sorry, I hadn't noticed you had taken AM costs into account. I can't help unfortunately in explaining the delta.

M.S., I think you are forgetting that the Aoku Mizu costs have to be paid every month, they don't perform a service for free.

I don't understand the miserable Dividend given the increase in EBITDA and cash holdings.