Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Phoenix, you can be assured that TDF and FormerFD are one and the same. Former FD disappeared after an embarrassing fail from UOG on one of their drills after his excessive ramping in advance about it. The other poster you refered to was likely GregPeck7.
TDF never denied he was FormerFD when he was "discovered" some months ago. The posting styles are identical although to be fair recently he has mellowed somewhat compared to FormerFD.
Most days this board is just an echo chamber for TDF.
Antelope, You might disagree with Rhodi but he has a right to post his opinion. Perhaps you can give us some positive reasons why we should re-elect Sisto rather than "it will cause chaos". CEOs have been replaced before and will be again in the future. The large multinational I worked in replced it's CEO's several times for non-performance and non-compliance, it didn't fall apart. I attach a message on the subject I posted several weeks ago.
Antelope, can you explain why he should keep his job? He hasn't delivered any shareholder value after 8 years, current market cap or NAV isn't higher than the sum of all the raises and he hasn't executed any shareholder accretive exits. I have heard from other shareholders who would be concerned about potential downside of him being replaced but with the current SP any potential downside has largely already happened. And what about the potential upside of bringing in a new, energetic CEO who actually might share meaningful numbers with us, the current owners?
Vista.
Disappointing as the announcement of a fundraise was it certainly goes a long way to explain the recent SP performance. With Montara back on-line I took the opportunity to add a couple of lots today as I believe the decline is overdone. Both purchases were marked as sells, hopefully we will get a small bounce over the coming days.purchased
Undoubtedly cash outgoings could have been better managed by the BOD but fundamentally it's a good company with a positive future. (Assuming oil price and developments deliver!)
Antelope, can you explain why he should keep his job? He hasn't delivered any shareholder value after 8 years, current market cap or NAV isn't higher than the sum of all the raises and he hasn't executed any shareholder accretive exits. I have heard from other shareholders who would be concerned about potential downside of him being replaced but with the current SP any potential downside has largely already happened. And what about the potential upside of bringing in a new, energetic CEO who actually might share meaningful numbers with us, the current owners?
Loadsamoneeeey, no disputing your 2.3million barrels 2P figure. Looking at the CPR the 10% discounted 1P has a value of $9.6 million (in other words if they spend no future capital) The 10% discounted 2P has a value of $29 million BUT I wonder how much capital would be required to achieve this as not all wells are 100% successful?
When trying to use this data to put a market value on UOG, the traditional ways are a multiple of flowing barrel or a multiple of 2P reserves. The flowing barrel is very hard to predict for Abu Sennan but using the 2P figure a maximum multiplier of 5 might be used, ie $11 million.If you don't believe me look at recent acquisitions or current market caps of producing small/medium O&G companies.
Vista
Well, it looks like Jono was right on this one.
Perhaps there is a lesson here for many of the posters to take a "risk-adjusted" view of potential outcomes rather than simply repeat whst BL says/tweets.
At least the latest RNS has been forced to with "there can be no guarantee that this new process will succeed or that the sale will be completed" !
DogFarther / FormerFD, I know Tullow had a cash issue in 2000 like lots of other O&G companies and while they had to make disposals to raise cash, they raised a "nominal fee" from UOG for the 80% of Walton Mourant so it wasn't released to raise cash or save cash as the requirements of the license were also modest.
As regards my holding here, I have posted many times that I have been holding since 2019. I don't engage in or enjoy falsehoods or blatant ramping that dominates this board!
They just report the headline loss and don't make any effort to explain the non-cash charge for accounting reasons of the "mark to market" for the hedges! They probably won't explain them next year when the mark to market probably shows a significant profit given hedges are much higher that Henry Hub prices this year.
Vista
BBB, I am sure if anyone has read Simply Wall Street articles in the past they will have seen they are riddled with inaccuracy and sloppy investigation. I have written to them several times complaining about misleading and inaccurate articles and could give many examples. One that sticks to mind was an article saying that they had doubts Hurricane could pay their bond debt, This was after Hurricane had repaid all the bonds and had a significant cash position. Their excuse when contacted was they work with annual reports which in this case was almost 12 months ago and their "data provider" showed the bonds as outstanding. They don't even check RNSs typically.
I won't be loosing any sleep over the article.
I received the following reply from Hargreaves Lansdown regarding this matter. Other platforms may not respect the tax treaty and you may end up actually loosing 25% tax.
Thank you for getting in contact with us.
I can confirm that having a valid W8BEN form on file will result in a treaty tax rate of 15% WHT applied on dividends due to your ISA. As for the SIPP, this will also benefit from the treaty rate but not to 0% like US taxed dividends. As this is a Canadian domiciled stock, it is subject to Canadian tax treaty rates. Therefore your dividend received for shares due into the SIPP will also be taxed at 15% treaty WHT for Petrotal.
If you have any other questions, please get back to me.
Kind regards, HL.