UMC Energy Share Discussion Threads

[saud2237] 26/3/2012 12:10

I can see this going up to 15p to 20p levels on the back of this news. This is absolutely huge news - CNOOC are a multi billion oil company and they have done well to sign agreement with them.

[ducatiman] 26/3/2012 12:09

saud, I would be disappointed at anything less than 100% gain but it is illiquid and mms may struggle to find stock so there will be shenanigans. Next few days will be interesting.

[saud2237] 26/3/2012 11:59

duc - Where do you see this ending today?

[saud2237] 26/3/2012 11:58

Not sure what you mean - 30% up?

[ducatiman] 26/3/2012 11:58

actually it is going down but agree it will go up

[saud2237] 26/3/2012 11:56

wow this is going up

[ducatiman] 26/3/2012 11:38

hmmmm, to chase or not to chase?

[bandflex] 26/3/2012 11:37

They are big hitters.

[ducatiman] 26/3/2012 11:17

Also band I don`t think cnooc will experience any beaurocratic delays from the PNG govt!!

[bandflex] 26/3/2012 11:11

At least its progress, and CNOOC will not be selling into any rise. Lets hope UEP release a report showing what they think they may have in those license areas, it must have impressed CNOOC.

[ducatiman] 26/3/2012 10:51

What a stunning rns! Any other stock would be up 100% on that news surely?
UMC Energy Plc Announcement
PrintAlert
TIDMNSN TIDMUEP
RNS Number : 0471A
Natasa Mining Limited
26 March 2012
26 March 2012
Natasa Mining Limited
("Natasa" or the "Company")
UMC Energy Plc Announcement
Natasa, the investment company with a focus on the mining finance industry notes an announcement released today by UMC Energy plc, in which Natasa holds 205,351,879 fully paid ordinary shares, representing 42.39% of the entire issued share capital.
Announcement re Subscription Agreement
Further to the announcement of 12 September 2011, regarding the acquisition by the Company of three granted Petroleum Prospecting Licences ("PPLs") in Papua New Guinea, namely, offshore PPLs 374 and 375 and onshore PPL 378 (together, the "Petroleum Titles"), the directors of UMC are pleased to advise that on 26 March 2012 the Company entered agreements with CNOOC Australia Limited ("CNOOC"), a subsidiary of CNOOC Limited, the Chinese multi-national oil and gas company listed on the New York and Hong Kong Stock Exchanges, whereby CNOOC will subscribe for a 70% equity interest in PNG Energy Limited ("PNG Energy"), presently a wholly owned subsidiary of the Company, which owns, through its wholly owned subsidiary Gini Energy Limited ("Gini Energy"), the Petroleum Titles and UMC Energy will retain a 30% equity interest (the "Agreements").
Pursuant to the Agreements, and in consideration for the share subscription, CNOOC will be responsible for funding all expenditure in respect of the Petroleum Titles required to comply with the minimum work obligations during the exploration phase. Such expenditure will be repaid to CNOOC out of production revenues and off take of oil and gas once the assets of Gini Energy enter production, should such production occur. If exploration and appraisal work indicates the probable existence of commercial reservoirs of oil or gas in any part of the Petroleum Titles at the end of the exploration phase,the parties must each finance their pro-rata share of all expenditure required in respect of the development plan either themselves or by procuring sufficient finance from a third party.
In addition, the Agreements entitle CNOOC to appoint two directors to the boards of each PNG Energy and Gini Energy, with the Company entitled to appoint one director to each board.

[tigluck] 26/3/2012 10:43

Excellent news re oil assets.

[mcbull] 20/1/2012 12:07

Price has held up well considering the dilution

[b2l] 13/1/2012 07:57

news out .... :(

[crimeprotection1] 02/11/2011 12:57

Is this for real, a company capped at 50 million drops 4% on one sell valued at £156!!

[b2l] 29/10/2011 13:11

28 October 2011

UMC ENERGY PLC

("UMC Energy" or "the Company")

Holding in Company

UMC Energy has received notification from Natasa Mining Ltd ("Natasa") that it is now interested in 205,351,879 ordinary shares in the Company, representing approximately 84 per cent. of the Company's entire issued Ordinary Share capital.

[tomboyb] 27/10/2011 23:17

1.28p to be precise - Fantastic rise and i hope they give details to the potential of those PNG licences - In all holding with NSN.

How they have done it is something that is worthy - PNG licences for an equity swap in UEP. That effectively means any PNG value is in UEP equity and in-line with shareholders interest as well.

[induna123] 27/10/2011 21:15

Damn, these were 1.5p when fairdeal brought them to my attention.

10 bagger since then. Well done holders.

[sideshowbull] 27/10/2011 19:38

Gardenarc as one of the URA boys, a bit of help: read my june post(sideshowbull - 9 Jun'11 - 16:27 - 1481 of 1525) , may make some sense, I think I bought near the lows here pity I did not throw in the kitchen sink. Lets hope URA can do the same, think more given the chance BWTFDIK DYOR.
Side

[tomboyb] 27/10/2011 13:27

I think the market cap has risen too sharply - we don't know the prospective PNG licences - But they've got to be pretty good at these levels -

[kiwimonk] 27/10/2011 13:23

Pretty amazing performance considering we don't yet know the information on the resources in PNG. Must be some serious barrel-age.

Interesting to compare this with GBP.
Compare UEP with a Mk Cap of £58m @12 BOE unknown

GBP Mk Cap £24m @ 14p - 7.51 Billion Barrels under Namibian sea! and £16m of CASH.

Great to see what happens with UEP.

Rgrds
KM

[tomboyb] 27/10/2011 13:11

UEP has risen significantly - I would imagine time to update on those licences - Consequently - NSN's stake in UEP is worth more than big brothers entire cap - Come on UEP.

[lyonst5] 27/10/2011 13:00

tomboyb, So it's 484million as we do go along with PNG thing ?

[gardenarc] 27/10/2011 12:56

Interesting shall watch for an entry point.

[lyonst5] 27/10/2011 12:54

Well i guess that people in the know are of the opinion that these PNG licences are worth a few bob it seems.