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Needs a share consolidation along with the placing.
OP
Interesting sitting seems to be blocked as a rude word or was it my typing? JB
I don’t disagree about the .1 placing, but if you had asked me a week or 2 ago about a placing at 0.15 I would have laugh at you then and said no chance. If DB keeps ****ting on his hands and the share price keeps falling 5% or so per day then anything is possible! I hope he acts soon! JB
Crocqman earlier post sums it up for me...repost...egardless of how we end up raising any cash here, and regardless of the assets and what we all think/know is 'down there', this past week or so will have done a lot of damage to the company, sentiment and trust for many here.
A lot of the goodwill LTH's had towards DB and the company will have been lost through the debacle of silence and confusion which I fear will take a considerable time to repair.
Not a deramp, just frustration.
It will take much longer (imo) for the SP to recover back to the levels that have seen to have been lost in such a short space of time.
If no update on the situation is released prior to the weekend, whether that be a 'holding' statement as suggested by one poster earleir, or a fund-raise announcement along with any additional price sensitive updates, I can see an even bigger sell off happening next week.
Sad to see, but hanging in for now.
gla
Jadam I'm afraid you don't seem to understand my point. You talk about buying at this price 5 months ago but that was when Biscathorpe was considered a dud, Wressle had been refused and to all intents and purposes we were going to have to battle it out with the council at a public enquiry and we didn't know that we had a load of oil at West Newton. Of course you could have bought at this price 5 months ago. My point is that you shouldn't be able to buy at this price now.
Don't worry Fairview, something will be done about it and I am already on the case............stealth is the key!
It's just terrible the way things can be manipulated on AIM. I think there has been illegal leaking of information, illegal trading on inside information. What's the betting that nothing is done about it.
Yes a big opportunity BWM but for who? A lot of people who didn't deserve to get in at these prices will now make a very good return. Meanwhile those that invested way back and have stuck with the company are shafted.
A real shame what is happening here. All the day traders have descended on UJO. This farcical fundraise has given them all the perfect opportunity to talk rubbish about UJO. They are all waiting for the right time to buy in to these "terrible" assets because they know UJO is way undervalued.
BWM - maybe you ought to check out how many corporate scandals and frauds Deloitte has been fined for recently . . .
That’s in doing what they’re specifically regulated to do - auditing and accounting.
CPR preparation is not even a sub-service for them realistically. Why didn’t this go to schlumberger or any other specialist firm?
gkb47
If it’s OK with you I’ll stick around. At least until I’m proven right and the SP hits 0.1p.
Don’t worry it won’t be too long. Not at this rate anyhow.
Not being altruistic. Just pointed a few things out.
BWM - yes sorry there is a CPR but it’s so weak, issued by Deloitte, old and basically useless that there may as well not be one. Basis of preparation is a bare as it can be, level of assurance is as low as it can be.
UJO needs and updated CPR, proven commercial viability and all permissions for long term production before a major would even raise an eye brow at WN.
Cheers
Red
I mean redheadrager or whatever he's called. A deramper pure and simple. Loads of them are coming out of the woodwork now looking to make a killing when our sp is driven in to the ground.
RHT is a blatant deramper. Anyone that says UJO aren't undervalued at this price is a blatant deramper.
He also thinks UKOG will be at 6p by xmas. Mad is the word.
JonnyRanger??
Icemanzag ??
gbk47
Not being disingenuous - I’ve been quite clear that I think UJO is a classic pump and dump based on nothing more that hyped up social media statements from certain people with only one intention - to line their pockets directly from market manipulation. It’s a boiler room scam. There may well be commercial assets in place and they do look potentially very promising but quite frankly they do not currently support the SP.
Cheers
Red
BWM
“ Contingent Resources are potentially recoverable volumes associated with a development plan that targets discovered (by drilling) volumes but is not (or not yet) “commercial”; and. - Prospective Resources are potentially recoverable volumes associated with a development plan that targets as yet undiscovered volumes.”
That is we think that it’s there and recoverable, but we’re not sure.
It’s not proven to be flowing in commercially viable amounts.
UJO are a long way off from that.
Cheers
Red
This is a little like the Monty Python "Dead Parrot" sketch:
"I'll tell you what's wrong with this share my lad, it's dead, that's what's wrong with it"
"Oh no, it's, er, resting"
"Look matey, I know a dead share when I see one and I'm looking at one right now!"
"No, no it's not dead, it's er, resting. Remarkable potential UJO, lots of oil and gas"
"The oil and gas don't enter into it. It's stone dead!"
"No, no, no no it's resting"
"All right then, if it's resting, I'll wake it up: Hello Mr Bramhill, I've got a lovely positive RNS for you to release!!"
"There, it nudged up a couple of percent"
"No it didn't, that was you manipulating the MMs"
"I never"
"Yes you did"
"'Allo, Mr Bramhill, wakey, wakey, wakey, this is one of your long term holders giving you an alarm call!!!!"
"Well, he's probably pining for the majors to call"
........and so on.......
:)
Regardless of how we end up raising any cash here, and regardless of the assets and what we all think/know is 'down there', this past week or so will have done a lot of damage to the company, sentiment and trust for many here.
A lot of the goodwill LTH's had towards DB and the company will have been lost through the debacle of silence and confusion which I fear will take a considerable time to repair.
Not a deramp, just frustration.
It will take much longer (imo) for the SP to recover back to the levels that have seen to have been lost in such a short space of time.
If no update on the situation is released prior to the weekend, whether that be a 'holding' statement as suggested by one poster earleir, or a fund-raise announcement along with any additional price sensitive updates, I can see an even bigger sell off happening next week.
Sad to see, but hanging in for now.
gla
VanVan
But the asset isn’t proven. Only have UJOs word for it. No CPR. No major would take that gamble. Although it is nice to dream.
Cheers
Red
Is it not feasible for one of the Majors to say we fancy lending you the £5m, in fact we could lend you more or just acquire you lock stock & barrel. £5m to get say 25% of UJO's interest in West Newton (25% of the current Market Cap) seems an incredible deal. Perhaps RBD would like a bigger slice of the cake. Could it be that D.B. has a whole table of options open to him; not just a simple Placement and as a consequence it is taking longer to evaluate them takes and some careful D.D. & in consequence time. I could genuinely see the Placement at a premium as buyers fight over the spoils. The potential returns on this once in a lifetime sale of the century. Might be wrong of course. Only time will tell!
gkb47
I don’t agree.
If planning is approved. So it’s not a certainty then is it?
When is that decision slated to be made? Is that for testing or full scale production? Are all other approvals in place OGA, EA, HSE, etc., etc.?
Too many uncertainties and all the time the cash pile is dwindling as salaries are drawn, expenses are paid, etc.
Placement - ugly - discount to today’s closing SP of probably 0.15p of at least 12.5% but more likely to be higher to accommodate MMs opening the jaws to swallow that volume into the market.
Open offer - uglier with a larger discount as people will know that UJO couldn’t get it away to the normal crowd as they haven’t got the appetite
CLN - ugliest given no revenue to return the loan, continued pressure on the SP and it drifting lower increasing dilutive effect with each tranche (and there will be many tranches with almost 33% of the shares in issue)
Not good.
Not good at all.
Sorry.
Cheers
Red
It’s worse with a CLN because unlike investors they’re after getting their 10-15% gain or return as quickly as possible. Acting like a giant weight on the SP performance if there is no immediate prose or of revenues. Which is the case for UJO.
Here’s hoping for a placement or open market offer rather than a CLN for everyone’s sakes . . .
Cheers
Red
Any loan would be Paid back with conversions to shares at a discounted price. So Much of a muchness imo