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oh ho wakey wakey
Is UKOG still a thing?
"Remember the West Newton swampies are all over this."
as are the rampers like Heid - who played similar games over on UKOG a year or so back..............
Also, the swampies , ie Hull Pete , do know their stuff on technicals.
All very strange really.
They drive cars with oil leaks an set up caravans and ****e along the road but complain about dust from the rig.
With such instant access an knowledge of West Newton it makes me wonder if they trade this themselves.
Hypocrites.
Remember the West Newton swampies are all over this.
Check out all the likes on Facebook for swampy Hull Pete's posts.
Use your imagination for all of the recommends of posts that Jack does.
The swampies know this is getting close now.
Their manipulated videos an commentary aren't going to work soon.
Jack wants his 0.14 entry still.
Poor Jack.
When Jack was born they never put the word 'Gas' in the dictionary or 'infrastructure.'
Genghis15,
You are spot on. Let’s be honest, even after “the placing” UJO are not rolling in cash.
Always worth another look at the RNS
https://www.lse.co.uk/rns/UJO/placing-and-subscription-to-raise-1637-million-91mrm5rks1qydil.html
“The Company has raised £7 million before expenses”
AKA £6.5M net as previous fund raises cost c7.2%
See Page 45 - Statement of Cash Flow
http://unionjackoil.com/wp-content/uploads/2020/05/AnnRep2019_FA84.pdf
Then we are told :
“The Company is already funded for the imminent drilling at West Newton and for the associated Extended Well Test activities, and the cost to first oil production at the Wressle development that is expected to come onstream in Q4 2020. “
AKA - All cash pre placing was fully allocated on the above., but what about Wressle being 2/3 months late, say a further £0.2M and no mention of WN C1 and WN D1
So the remaining £6.3M:
“pay the deferred cash consideration due on first oil production at the Wressle development on-track in Q4 2020 as a result of past acquisitions that have resulted in the Company holding a 40% licence interest;”
AKA - £2.1M to shell out once Wressle finally gets to first oil. Remaining ££4.2M
· drill a side-track well at the Biscathorpe discovery planned for 2021;
AKA - £0.75M to £1M. Remaining say £3.5M being optimistic
· ongoing investment for growth in the Company's other conventional onshore drill-ready projects including a proposed low-cost, side-track well at the producing Keddington oilfield and a proposed conventional well at North Kelsey;
AKA - we increased out share in North Kelsey to 50%, by shelling out £0.1M and we are now gonna farm out.....
Side track at Keddington £0.5M Remaining £2.9M
· the costs to maintain its licence and project obligations across its portfolio; and
AKA that’s anyone’s guess Remaining £2.8M
· working capital.
AKA paying the wages £1.5M (See page 41 in above)
Remaining £1.3M
The net proceeds of the Fundraising will also allow the Company to take advantage of attractive acquisition opportunities that it believes will become available from the ongoing fallout resulting from COVID, energy prices and BREXIT.
Yeah OK
So £11M to £1.3M. AKA short of cash again. Maybe add on 200 bopd @ Net $45-€17.82 = £4K income pd ?
No worries coz we can raise again
“The Board is delighted with the result of this oversubscribed fundraising and thanks existing shareholders for their ongoing support “
Yeah those in the know sold out from .3 down, whilst promoting the stock leaving the PI high and dry. Those folks were falling over themselves to rinse and repeat.
Fool you once
Fool you twice
..........and sounds like Fool you again
Good luck 20 Bn and counting
Jack
DYOR
darientaylor
"what am I your ******* pupil in your classroom... do your own calculations"
1 out of 10 for plucking $40k a day out of of thin air and trying to pass it of as yr maths homework! naughty boy :)x
what am I your ****ing pupil in your classroom... do your own calculations
"by march April they will have $40k a day coming in thats why..no need to raise money"
Substitute "October" for "march/April" nd that's exactly what everyone was saying here in july/Aug/Sept.
As I said, there's always something else tp spend it on, it's always an "earnings enhancing buy", and it always collapses the SP.
Of course, if WN comes good we should be well north of here and mb beyond caring. But don't think the revenue [position will finace all DB's ambitions. It won't.
$40k = Could you kindly post those calculations?
by march April they will have $40k a day coming in thats why..no need to raise money unless its a earnings enhancing buy
Lunus et al
Yes, we know it is fully funded as you say. But every time it is fully funded Bramhill finds something else tp spend it on, and there's another raise. I'm not suggesting one is imminent - that would be ridiculous - but who's to say, given the track record, that March/April, or even b4, wont see another one?
DB has shot his credibility on this score, that's the problem.
London investor you are the weakest link.
GOODBYE!!!
Londoninvestor is the person who uses google to quote real time oil prices. so make what you will of the idea of a placing...as always talks out of the whole in his/her arse
Hi LondonInvestor. I think you are wrong about a placing, so what makes you think it's likely? In my opinion another placing is not on the cards for probably another year. They've only just raised £7 million, so why would they need to do it again?
I respect most people’s opinions on here but all you do Heid is ramp, ramp and ramp.
I could be wrong but I strongly expect a placing.
As I said DYOR, I have.
Are you thick or what ?
I’d wait until the placing is announced, you will probably get a lower buy in.
DYOR
Yeah mate. However, a sidetrack from an established well site will still be MUCH quicker and cheaper.
Further info on the Equinor 'Blue Hydrogen' Development at Saltend:
https://www.equinor.com/en/news/plan-for-world-leading-clean-hydrogen-plant-in-the-uk.html
This is 9 MILES by road from the West Newton A site and closer to the West Newton B site.
There's already a hell of a lot of gas infrastructure landing North Sea gas within that 9 mile Radius too.
Many thanks Rib.
You seem to know your stuff/
May well get in tomorrow
Bob
g) Directors own shares in the company showing confidence and have options available to take.
Forgot to add.....
From a political perspective this is:
a) Tax generating activity through TAX
b) Jobs in the North
c) Improved UK energy security - no dodgy Arab/Russian influence brough to bear.
d) WAY above average from a carbon and environmental point of view as its onshore and near the refinery
e) The local council took a battering in the courts for impeding Wressle arbitrarily. Lower risk of a local authority trying to **** with us in the future.
f) Supports the existence of the refinery and petrochemical plants in the area (major source of jobs and revenue).