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All I see are buy orders. The stock rises for a very short time and then hits the tank, again. UTOG stock must be so diluted that any type of stock purchase is not going to move it until huge orders take up the slack.
No arguement from any of the stand points made on the post. Do you think they are waiting for the IPO first before sharing results about New Miami? Or is it the other way around?
Mr. Smith,
Where is the NEWS?
Investors
ya, Mr. Smith, we need some NEWS of any tyoe- right??????? /Get on that action item!!!!!!! Holloooooo......
waiting on oil Production results on the second well? And maybe some more news on finalizing the new company and listing on Fragfuet? A lot of loose ends still.
Great info, but how did you come across it?
Pat Smith said that the IPO and well rates will be anounced by weeks end or early next week. Maybe so. We'll see. A lot of info we don't know about, but it could be very good news also.
Give us the info. What have you heard?
Thanks for the great info!
Tru dat.
Ya, I know. You posted this before. I confronted Smith on this and he was not happpy. You have merit with your link. I will grant you that.
We are all suckers for investing in this company. Bad management!
Old news. why are you posting this now?
ANY new company is a gamble!!!!! Get over it. From the product to management, it is all legal gambling. We take chances on everything in life and this is no different.
snowcat,
Nice way to put UTOG's current postion in perspective.
Thanks for the links about Pat Smith, flaflysfan.
I could no get Mr. Smith to answer some of this questions because, by law, until the relist - is he able to share this info you us "the stock holders"!
I don't have all the answers. I am sharing what I know.
Any one can pick up the phone and call him or email. He will respond.
Only current stock holders of UTOG will be able to purchase when it relist on the foreign exchange. This info came from Patrick Smith.
One more item.
If the SEC and FINRA have NO intention of upgrading the listing, after UTOG has met all the requirements during the investigation - with not reason given as to why they will not uplist, then why would you release any information on current flow rates, amount of oil shipped etc., until after they newly list with another exchange?
I would do the same as UTOG for maxium impact. Why not! IPO's do the same thing for the listing company. They pump the market with positive energy with possible investors.
LevelE,
Heavy or light crude oil does not matter. If oil body is not under pressure then it will not come up easy and will need additional assistance with steam (steam helps with pressure). UTOG has never hidden the fact that steam is an option and maybe needed.
Horizontal Fracting was developed to recover known oil bodies to flow that are not under pressure. Steam helps with the pumping process even further.
And YES, you can buy stock on any exchange through your current broker. I am with Schwab and trade on oversea floors all the time. The broker completes all funding transactions automatically. It just takes a bit longer for the transaction to complete.
You may not want to sell UTOG just yet! As a large share holder with UTOG, the following is their response to my inquires of the companies future plans.
Dear Sir:
Thank you for your email. The Company has previously announced that it will be listing on a major European exchange such as the London Stock Exchange or Frankfurt Exchange. UnionTown intends to change its accounting procedures to meet the stringent IFRS (International Financial Reporting Standards) as a European reporting company. Once a final decision on the exchange of choice in Europe has been made, the new accounting shall reflect the associated reporting needs for the listing process. As such, the Company will not be filing a year-end report on the North American listed entity; a cost saving of about $30,000.
We are not pleased with the recent share price, but are not surprised by this current volatility. The stock is currently trading on the grey sheet market and there is no bid/ask, making trading skewed. As we move to list on the new exchange, we will have a bid/ask and expect a resumption of normal trading.
We do not intend to re-list back on the OTCBB, as we have hit a myriad of roadblocks that have delayed us for over six months. To this date, we still have not received a reason from the S.E.C. as to the specifics as to why we were halted last year. And, as such, FINRA is unwilling to relist the Company until they know the reason. It’s a myriad of regulation and bureaucracy that seems to have become mainstream in the USA of late; something we look forward to avoiding on our new listing.
We have about $27 million in booked assets, which does not include the oil reserve potential from our four leasehold properties in Montana and Wyoming totalling over 45,000 acres. Our combined EUR reserve currently exceeds 132.8 million barrels of oil equivalent.
These unproven potential reserves are as follows:
1. New Miami 2.4 MM Barrels Light Sweet Crude
2. Musselshell 10.4 MM Barrels Light Sweet Crude
3. Teton TBD Heavy Crude
4. Darby Oil 120 MM Barrels Light Sweet Crude
5. Darby Gas 760 billion cubic feet gas
With the new European listing, we have had expressions of interest of investment from large investment banks and similar-type funds to move forward with our drilling plans. Once we are able to secure additional funding, we intend to move rapidly to develop our exploration and drilling plans to bring in revenues, as well as prove up our reserves which will add to our asset base.
UnionTown Energy remains committed to the oil and gas industry within the United States. There is a push to develop America's untapped energy resources and reduce our dependence on foreign oil. New technologies such as horizontal drilling and hydraulic fracturing have the potential to unlock the wealth in these reserves. Previously, it was common to recover about 20% of a reserve. Today's technology pushes recovery rates to 80% and higher. Further, the current high price of oil adds substantially to the overall opportunity.
Our company sees significant potential in Montana's and Wyoming’s under-developed shale fields, and we're moving swiftly to build our land portfolio in the state. Both States are supportive of oil and gas activity, including the use of the latest technologies for enhancing recovery. We intend to become a solid participant in the American energy sector and a steady oil and gas producer for many years to come.
It's clear that the oil and gas industry will play a pivotal role in supplying the world with energy far into the future. We continue to see oil prices rising possibly making UnionTown's return on investment very attractive and thank you for your continued support.
Regards,
Office of Corporate Relations
UnionTown Energy Inc.
http://www.uniontownenergy.com
Phone: 702.530.3241