Board Cleanup

[Debug]

I have just removed a couple of categories from the front page that had not been used and seemed redundant anyway.  

I may reintroduce them on request or when things get back in to gear with workover 2 in the next few weeks.  

[dodger]

An area of sensible tranquility right now, well done Debug.
I reckon things will liven up soon, well i bloody well hope something happens to create debate and discussion before too long!!

[Debug]

2013 will be a very different year I feel.
I cannot imagine anyone wanting to revist the goings on of late 2012 and I am sure most will be approaching things in a very critical and rational way now. We are delayed, but still very much moving forward and there will be a lot to discuss once we have news on wo2, however based on the sparse detail of the last RNS that may not happen until the end.

Realisticly I think we aught to get an update once the wo starts in a week or two, then it could be another few weeks for results. In the meantime I suppose we might get a CPR update, but it could be quiet for a little while yet.

The only other things that might provide talking points are the GXG upgrade due on the 14th and ADR's although I have to say I am not holding my breath on either of those ;)

[surfacetoair]

Good work Debug!

Loving this forum. No BS, swiping, spamming or nonsense. All very sensible and methodical thinking/research.

Debug I agree with your sentiments and projections of timeframes for wo2. I optimistically disagree with your feelings about ADRs. ADRs take between 8-12 weeks to facilate. On aug 31st agm brian had hoped they had been online and said to a room full of investors that they were imminent. Weeks went by without news and then the operational side in Nevada took priority (rightly so). Jump forward to the nov 15th RNS. Operation are paused whilst they cheek the data (do you think brian is checking the data??) of course not. Allowing a 10 day break over Christmas. Brian has had 7 weeks to get the ADRs up and running. 8-12 weeks remember. .. How much work had been done before the agm? I have no doubt the well is commercial and the sp will be above £6 come Easter but I'm getting increasingly frustrated with the drip feeding of information and the missing of deadlines. There has also been NO mention of the Idps survey to the rest of the acerage. I would hope that karim and brian we organising this whilst eb1 was drilling and results will be forthcoming. Little to go on. No wonder alot of posters aren't posting and people are getting techy. Roll on the news brian.

[smartbeds]

Good work Debug..

STA .. Well put about we had some concrete news from Brian!

[Debug]

surface, smarts, thanks, sometimes quiet is good :)

surface, Good points on ADRs and they likely are ready to go at any time now.  I have considered that they might be held back until the BoD are confident of the results from EB1.  There is a lot of scepticism in the US regarding Nevada discoveries and ADR's might not generate the local interest we would like without concrete flow/production data.  Introducing them now and seeing a poor take-up might not be good for sentiment. If it were up to me I would still push ahead with them anyway, we are already in a lull with regard to sentiment and having ADR's in place ready for when confirmation arrives would be a good thing imho.

For the survey side of things, I am guessing that is budget related due to this second wo and the focus will be to fund that and EB2 above all else. 

Totally agree about the level of detail. I don't like speculating on things we should know for certain. Lets hope that once the company are confident on the results we are properly updated.

[fightfear]

GXG upgrade can indeed be interesting - can't wait to see what happens but what I'm really waiting for is the options. I think there's a very good chance that once we get that we'll see the SP rocket. They may of course announce some good stuff first so it doesn't look like they've deliberately suppressed the SP to achieve a low strike price. They would still be able to enjoy a very low strike price even if the SP skyrocketed due to various rules (such as 60% discount and 30 day closing average determined price etc). I reckon at that point it would also become clear why all those Iraqi names have suddenly appeared on USOP's website - at the end of the day everyone would want to know who those people that received the options are (and what exactly they've got them for - right?)

With regards to ADR's as I think someone suggested already it may make more sense to introduce them after good news so that the starting point for Americans is already a decent price due to rise on GXG. That way the SP is likely to go up further and the bottom is also likely to be established at a higher level.

[Debug]

It would look pretty bad if a group of unknown "consultants" appeared from nowhere and acquired 6% of our company for next to nothing for their tenuous involvement in a part of our operations that went disastrously wrong whilst all the stressed and beaten down long term investors took a massive haircut. imho.

[Debug]

What I mean is ... If that happens there better be some very, very good news to go with it.

[By The Bay]

Debug, agree that it would leave a bad taste but that is the oil game. We know they are going to be issued so, in the hard light of day, it doesn't matter who they go to. Anyway, for them to take up the options would mean, to me, that there is good news, if not really good news :)

[Debug]

BTB, I do think it matters as we need to trust the company to do the right thing and the options are supposed to be a performance inventive not a free unconditional bonus for new employees. However I did make it sound a bit negative considering it has not happened and one should not pre-judge anything. I also agree that the issuance and take-up of options in general can be a very positive sign in other respects, particularly if the actual strike price is positive wrt to our current position.   It could turn out to be a good indication of the companies confidence in where we are going and a big boost to sentiment if done correctly. I guess we will just have to wait and see what they do.

[By The Bay]

Debug, I totally agree with you but call me an optimistic cynic (is that an oxymoron?) in this game :))

[Mosa]

If that is what happens with the options Brian will have to do some pretty amazing silver tongue talking to the £4 placees if he does not want to see his knees removed.  I still cannot imagine the conversations with those people and what he has said to placate them.  

'Yes, give me £4 a share me old mates and family friends, we are onto a winner'.

AGM we all see £6, woo hoo, everybody happy.

Day after November RNS SP 35p.

'Eeer, hello there Uncle Brian, ******, ******, ******, ***** is gong on, *****, *****, *****, you, ******'

and the next part of the conversation I would LOVE to have heard.  Either 10x more shares, or 10x less money, hmmmmmm.  Whatever he did, I have to assume they are still holding and did not sell into the rise, I believe they are still holding from various posts on various boards so that must have been some good blarny.

Now if an RNS comes out with an options price of x to a bunch of people only just on the drill it's going to be another VERY interesting conversation.  Maybe it's just how my mind works but he would have to be talking some serious things to placate peeps.

[dubian]

Why is this GXG upgrade relevant, sorry if this is a silly question as i have read no ' details' , the description sounds like just that, a website/ webpage being upgraded/improved, how would this change a company's position or stock, and prompt a wave of expectant posts, slightly baffled   

[fightfear]

Mosa - that's why I think we'll probably get very good news first, because then no one will care about the options (too much) - people will be way too busy looking through sunseeker brochures again.

Dubian - because some (including yours truly) speculate that the date of the GXG upgrade could be no coincidence and could be directly connected to USOP's progress.

[Boddi]

How's about raise the dosh via a placing at 4 quid ....and like you said , family and friends....ramp it all up at the agm...then hey a couple of weeks later all the boys in at 4 quid were selling at 6 quid plus....could it be...nah...or really could it be,.....think about it...and you think they are still in up to THAT rns......

[Boddi]

Some serious shares traded each day post agm remember...plenty buying, but plenty selling,...who were selling .....yes you have your answer...all in all,. Regardless of previous weeks in the world of usop have been bull..unless in the know were selling into the rise post agm...but for many others come on bm think of the shareholders and what we know...er not a lot is it...adrs ...nothing...cpr...nothing...contractor....nothing....elbana 1 last rns...well next to nothing....it just ain't good enough .....period.

[Debug]

Additionally the GXG upgrade "should" provide a little more needed visibility on the SP and an interesting window to the occasional manipulation and odd trading that occurs. Bound to be good for the odd debate about the mechanics of GXG which seems to annoy/confuse many.

[Dubian]

Fightfear  - If a specific Usop GXG upgrade was touted then you could be right, hope so, but a GXG upgrade announcement to all 70 company's per say sounds like what it says, a homepage splash of paint, but what do i know

[Trappist]

May I ask if you are the same Boddi from ii.
Thanks in advance.