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Exactly. Candy from kids , what ? All the way down to 0.14, really ? .02 drop, wow that's a lot of Candy !!!!!
It’s called “Cut & Paste” from posts made over 2 months ago
Keep up Teamster, stop tickling my ribs !!
Jack
Hang on , you might be interested at sub 0.14 , have I got that right ????
Jack. You seem to be missing out the fact that this could potentially be the biggest oil an gas find in the Uk for many years.
Calm down with your calculator and let us do the drill and see where we stand.
Gracious me. You do seem a stressed one.
It’s called foresight.
RE: Share Spike15 Jul 2020 23:14
Comments were made over two months before the raise.
Your expensive (for some) Hindsight Is now correct. c£10M in the bank. £2M for Wressle first Oil. £x to get Wressle up and running. £x for Bisca side track. £x WN B2, C1 & D1. £x for G&A.
..........with c20 Billion shares currently in issue any positive news flow would have to stretch across this enlarged Share Cap.
I might be interested sub .14
Jack
Jack must have spent hours typing all that out, poor old boy.
Should stick to the Sound of Oil. .. Much more fun.
Bet you can't read that without singing it Teamster !?
https://twitter.com/Heid_oil/status/1310972409898565632?s=20
A funding crisis with all that money in the bank. ?
Agenda Bender.
AIM O&G is an expensive game, G&A could and should surely be reduced. However £11 Mill in the bank, probable drilling and production near term.
PS Jack, I have a very good idea who you are.
Go chill. x
My name is Heid. Can you not spell Jack ?
Moving on.
Rig looks like she is going up nicely.
My spud prediction RNS is 6th October, could be earlier though.
Very exciting time for all holders.
I do wish David would do an interview so as we can hear HIM speak .
And another one........to you no less x
RE: Share Spike15 Jul 2020 23:14
Hide
Far from it. What part of ......
“Our portfolio has grown from strength to strength, fully funded and Cash in the bank..”
Do you not understand? The statement is totally misleading. UJO are NOT fully funded with cash in the bank. Let’s be absolutely clear on this point.
The cash in the bank will struggle to fund the next 12 months work program and if Wressle does not come on line in Oct UJO will have a funding crisis.
I find it bizarre that an advocate of UJO like yourself is not questioning the large pink elephant in the room.
Choose to ignore at your peril.
It’s obvious to me that punters on here don’t have the capacity to articulate any perceived shortcomings in the UJO strategy. Even an acknowledgement would be a good start.
I’m looking forward to the next few months here....as it looks like easy money taking candy from kids.
Jack
I'm sorry but don't you go on.
Jeeze.
And another one.......
RE: For clarity17 Jul 2020 15:01
Mixster
For Clarity......very interesting.
I seem to remember that the £5M fund raise was done on 27 Nov 19. On Page 41 of the Annual Accounts issued on the 11 May 20, the cash as at 31 Dec 19 was £6.6M.
On Page 2 of the same report, we were informed that the Cash balance was in excess of £5.5 million as at 1 May 2020 and the Company remained debt free.
These are facts and can be easily referenced :
http://unionjackoil.com/wp-content/uploads/2020/05/AnnRep2019_FA84.pdf
So a reduction of cash of £1.1M from 31 Dec 19 to 01 May 20. I think the G&A takes up roughly half of this figure. G&A for the 12 months to Dec 19 was £1,343k. As the prior year was £871k, their would have been a gradual increase through 2019, so it would be reasonable to assume the current G&A monthly run rate is @ £130k+.
Dec 19..............................................£6.6M
4 x G&A............................................(£0.5k)
Mar 20 - Terrain Energy..................(£0.2k)
Apr 20 - 5M Egdon shares..............(£0.1k)
Max spent on CAPEX......................(£0.3k)
01 May 20........................................£5.5M
So we then have your assessment of costs for WN and Biscathorp. No cost in for Wressle ?
And then in June 20 £500k was paid for the 12.5% in Wressle, with a further £1.04M payable on first oil.
Hmmmm.......its not adding up to me.
Jack
And another one........
RE: UJO vs. RBD14 Jul 2020 20:39
SecretBlueprint,
You are wrong. Once RBD get O&G approval both UJO & RBD will hold a 16.66% direct interest. So both would get exact the same cash on a sale.
The difference is RBD also hold an indirect interest in the License via its holding in Rathlin. In fact, they hold an overall controlling interest in the license and also have the upper hand in any negotiations with a potential purchaser.
To be honest I see UJOs interest getting dragged along or there is a risk of their 16.6% getting hammer by cash calls with a fast development plan.
UJO SP is way above current intrinsic value and is bubbling along with hyped investor interest. Many punters will lose cash to the gang festering here and elsewhere.
Our friend Joe dipped his toe in with £25k and it’s whopees all round.
I will be shorting this shortly, as it’s presenting itself as a gift.
Jack
“I mean who saw this placing coming ? No one.“
Come on, I made a number of warning posts in July as UJO SP was rising on fresh air, with troubled cash reserves.
It was obvious to me, that a raise was imminent. Remember “Candy from kids”, well I can confirm that the setup made a mint.
At least it was posted in the public domain !!!
I think you do a complete disservice to your followers, as logic is definitely out the window.
Jack
RE: RE: Biscathorpe & WN Reserves11 Jul 2020 11:44
No problems Jacklevi
At least your civil about it, unlike the two morons last night calling me an idiot lol
Of course it pays to research either side of the fence. I got similar abuse on 08 Oct 19 Regarding the UJO cash position I posted and seven weeks later UJO raise £5M @ 15p.
It was a racing certainty, and a few quid was made in the run up to the 27 Nov raise I can tell you. I have no problems with this as my POV was in the public domain and few wanted to listen, unlike some of the characters on here blatantly leading average joe to lose cash.
Be careful who you listen to
A one liner from me......good luck with this one
Jack
RE: Stop it!08 Oct 2019 00:50
Gonzalez5000,
Yes further fund raises will be required to keep up!!
UJO confirmed the last fund raise of £2.25M was for, “The proceeds will be used principally for the planned Q3 2019 extended well test following the successful West Newton A-2 appraisal well and to provide additional working capital.”
That last raise was at .17 and judging by the comments tonight, this SP looks like going one way for the foreseeable further.
I’ve looked at 100’s of Licensee contracts over the years and getting good PR from someone else’s forward plan don’t cut it.
I think we are in for a much larger rollercoaster here as UJO will be cash constrained by Xmas and will need to show their cards to continue an aggressive licence play.
Jack
Personally I want nothing to do with UKOG
Yeah, well I remember a few getting rattled when I mentioned us buying some of Egdon out.
Now .. imo ... it looks a strong contender to happen.
I mean who saw this placing coming ? No one.
So don't necessarily diss my thought.
Sorry Chitty chitty bang bang ? Wheres my apology from earlier. ? .. she's off out for the evening.
I dissed UKOG as a thought after selling at 7 Pence. Shortly after Lenigas and Sanderson were going on about a Sea of Oil under the South of England and before the Death Spiral Finance. I will never want to invest in UKOG again. UJO is my only Oily . I am focussed on Gold, PM,s and clean energy stocks mainly now
The last thing we want on here and for UJO is for Dave to go sloshing the placing money out in a extravaganza buying up this that and the other, he used money from a earlier placing to do that to increase is percentage share. Yes he probably had good reason but surely he needs to focus on what he has and get oil flowing not squandering money on percentage increases and buyouts.
I happen to think this is why he had this placing because he had used money from the last to increase share of other fields . Its all very well but none of them are producing as yet. He needs to draw his horns in so we dont need yet another placing further down the road as a result. that last one was at a heavy price for the SP and shareholders and we need to see production for it without diversions onto others useing up placing moneyBut as i said recently he doesnt seem to give a monkeys for shareholders, thats the impression i get
I didn't want to be at 0.155 p. Did you ?
UKOG are producing. They may need funding. Don't diss it as a thought.
Yep that was about £110000 wasted on UKOG shares. I don't want UJO to have anything to do with UKOG thanks
Excuse my cynicism, but why would anybody now believe something said by UKOG about one of their projects? Even if it's backed by a study from a reputedly competent third party such Xodus, I'd still be very nervous about taking it on trust .
"With Dave's very clever building of the company, if he has the money, why would he not take a slice of this pie ?
because it's run by your old "uncle" Heid - and their estimates no longer inspire confidence
Right . Leave it there. Off to do some knitting.