Firering Strategic Minerals: From explorer to producer. Watch the video here.
The previous 2 weeks there were numerous ramps on Twitter from the usual suspects and followers. I didn't see it mentioned over the weekend at all, they probably took their profit and ran. It might be difficult to get back momentum again. Loxley was never going to be feeding into cash flow before 2025 anyway if UKOG get the capital to develop it.
Folks, sorry for LTHs here, but there is a lesson to be learned. Many bought in the 0.18-0.25 price range in the previous few weeks. There was an opportunity to sell out with a very good profit in the 0.35-0.40 range but GREED and some fantasy SP projections here probably prevented people from pressing the button. I am still learning that lesson myself despite being bit several times. (on other stocks)
GLA
Ohmetoe, they would need about ~40,000 bpd at a $30 per barrel margin to achieve a £1.2bn market cap. (Based on NAV10 and usual oiler discount to NAV) And that assumes a lot of FREE capital to expand the production. Please send me some of the stuff you lot are drinking!
Daft,
Have to disagree with you there having lived in Geneva for 4 years. Best years of my life!
The '6' well flowed at 14,700 barrels per day previously with minimal water content. With the '7' well off we should be able to achieve that.
Jones, no its not enough for me, when they eventually release a production number that they can sustain I will then check how it stacks against other oilers I own then. For instance its already valued at double another oiler I own which is producing at 3,000 bpd and growing.
Too much ramping here for me, I think a lot of people will be left with a loss.
MJFMSG, at 12p that would be a £1.3bn company, FFS wise up. RRE producing 20,000 per day is a £141MM company, HUR producing 12,000 per day is a £116MM company, UOG producing 3,000 per day is a £18MM market cap. I could give lots of other comparators. What should UKOG be valued at 300 barrels per day? Certainly not £38MM.
Get real!
Look at the market cap of other oilers, even if they ever get to 3000 bpd the market cap will never get to equivalent of 5p! Please do some research and run comparisons and then think of a suitable target.
Tymers,
I would be very interested on what basis you see 1p coming in a few weeks. Oil companies are compared / valued using 2 well known metrics:
EV/2p Lets just use market cap instead of EV here for UKOG
EV/Flowing Barrel
Its easy to use the market cap at 1p but what 2P reserves and flowing barrel would you use?
Very interested to hear these expressed based upon market cap at 1p.
Then I can benchmark versus other junior oilers
Pilgrim, been on twitter a while myself, got caught out a few times by the rampers but wise to them now, research before investing! There are a couple of blatant rampers who have a significant following who can move a small companies share price when acting together. Unfortunately they'll drop the share as soon as the have made their target %, leaving others to hold the can.