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This is actually hilarious. Firstly, I truly don't even understand who would actually buy here. I mean, I'm only here to witnessed the insanity of Heid and those foolish enough to not be able to call a spade, a spade.
Growing the company built on delivering nothing but dilution and shareholder value destruction. Why would any shareholder be pleased what have they gained here but dilution and empty promises those 500 barrels best be worth 500usd per barrel minimum.
In David They foolishly trusted - Sept. 2016.
Union Jack Oil plc an onshore oil and gas production company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector, has given ************* its unaudited results for the half year ended 30 June 2016.
Operational Highlights
-- Field Development Plan progressing to proceed with commercial production from the Wressle discovery expected to commence in late Q4 2016
-- Acquisition of a 7.5% interest in PEDL143 containing the drill-ready Holmwood Prospect on trend with the Horse
Hill-1 discovery
-- Acquisition of an 8.33% interest in PEDL182 containing the Broughton North Prospect
Financial Highlights
-- Cash position in excess of GBP2 million as at 5 September 2016
-- Company remains debt free
-- Company is fully funded for current planned drill programme and Wressle development
So that’s 5 years late on Wressle Commercial Production, and how many fundraises since they were “fully funded for Wressle development” Is it 5 or 6??
Brobberspam's has image of the linear rod pump taken Saturday and getting thrashed with hydrocloric acid. The photo shows the pump but is hydrocloric acid being used is the question? According to DB very little fluids were lost when drilling WNA. The acid is used to remove scale or other deposits from well perforations and well-completion components and to restore natural porosity of the formation.
As I understand things., the Wressle operator declared long ago that any income from the Ashover Grit production is earmarked to fund a production well from the flags formations higher up. So the present production money is committed and will be spent on another risky well. So Big Dave can't pocket the Wressle money and he has to go to the market again to pay for the balls up at WN.
Oh well. I have said my piece.
Bon nuit.
And yet the SP is half what it was before Wressle was disclosed as commercial…..
I’ve been a loyal shareholder long enough to state that this raise does not sit right. As mentioned previously, I was ok with the last 2 as they made sense, if not the way they were conducted. However, I cannot defend DB from the onslaught of many who have had their knives out for him. Fridays news justifies their claims that he is a fat cat charlatan. I like to believe that this is not the case but where is shareholder value. We have decent assets but continuously scoring an own goal. I will wait for WN and hope it’s good news and will want out like many. I know many others feel the same way. Gla who are invested as we will need it for the coming weeks.
I for one can not wait for Wressle official numbers.
I bet that is a show stopper and I am really pleased for David an Mark.
Fantastic achievement after all of the stress and what an asset to own with MEGA potential.
And yet the MC is less than the entire raise with the success of Wressle built in, the Market doesn’t trust UJO end of
I am an insane, paid, ramping man.
Lets get them all in shall we ? Happy.
How do we know what the placing money is being used for ?
'to upgrade certain producing assets to enhance cashflow '
What if this is for Wressle to increase production ?!
What if we are taking a bigger cut of Wressle from Egdon ?!
This would be fantastic news...or something else ?!
Royalties:
Owned by majors and major banks. They are like owning an oil well with no extra costs. They are an investment in UK oil sector and part of a north sea scenario without running costs. Cashflow from another royalty would be material on top of the Wressle income.
David's ambition is for Union Jack to be a mid tier company, not overnight but the asset value is going up annually.
"You are either insane, deeply connected with the company or both."
Probably just the usual - in far too deep.
On his last video outing
You place to grow a company.
When has David ever said he will not be placing ?
"I tell you something that has really annoyed and saddened me..so much for those that have tweeted in the past 'in David Bramhill we trust '"
How many did that other than Heid? Its a ridiculous statement for a PI to make. Trust has to be earned and trust has to be maintained. Generally I quite like the guy, he's a good stock promoter and decent deal maker which is what you need as a speculative AIM oiler CEO, but there is enough in his history of other AIM stocks such as Nighthawk to show that his interests are only minimally aligned with private investors.
Speculative companies doing placings to provide loans to other speculative companies is really nothing short of ridiculous as is a placing now to finance royalty units which have no possibility of the upside needed to cover the dilution for private investors. Its awful management and use of cash, which should have solely been used to develop the assets out, where if they are as good as the company maintains is where the value is going to be realised.
He laughed down the camera lens and said no placing, then he places, diabolical
I tell you something that has really annoyed and saddened me..so much for those that have tweeted in the past 'in David Bramhill we trust '
Some of the abuse that man has taken over the last few days and lack of support for what he believes will grow this company. You should be ashamed.
Good night.