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As I occasionally say, I have been an "investor" in UJO since 2013. I was once an "investor" in Nighthawk. I know nothing about oil and gas, I lost a fortune "investing" in such companies. I got out some years back, everything except UJO, and have since had a gamble in Reabold which was stupid. What an idiot I am. I have now got a brilliant portfolio of quarterly dividend paying shares. It is so relaxing. I check up on news every morning and a few times during the day, and I make a few tweaks here and there to maximise the dividends, take a bit of profit to cover occasional losses, and I get around 75 dividends coming in every three months. The spreadsheets a beautiful thing. Covid was fantastic (well for the portfolio) I had some cash available, topped up, dumped some panicking companies, reinvested the money where other people were selling out, and it had a dramatic effect on my yields. More than doubles my pension every month. Meanwhile I want DB and UJO to succeed. If they don't, it is my fault, my loss, at least I'll be able to stop reading comments from the trolls and derampers. In my opinion, if DB thinks raising money is a good idea, then he is the person I invested in. Get the company stabilised and the projects moved forward. Despite all yesterdays games, didn't we finish the week slightly higher than the previous week ? The scandal is purely the fact that someone is leaking the plans to players like TW (etc etc) and they are publicising the "news" (rumours) for their own ends (profit). They are using boards like this which give a free voice to thousands of small investors, non investors, general morons, and work-shy protesters to spread panic. Yes, you lot. Well, most of you. IT NEEDS SORTING. The result is that whatever DB planned will still happen, but the price will be 20p instead of 25p per new share. So the price will drop to 20p instead of dropping to 25p, and there will be 5 new shares per £ raised instead of 4 new shares. Well done everyone. I first came across TW when he brought down one of the companies I was invested in years ago. I was so incensed that I contacted him and tried to put my points across, and he replied with lots of foul language and some advice for me. I must admit I wasn't in a good place at the time and I put a crow bar and lump hammer in my car boot and was ready to go down and put the guy out of his misery. But his advice was so right - the AIM is for gamblers and idiots, not for people "like me". Or you lot, obvs. I do fear for TW though. A lot of unstable people on here. Bless you all.
That's the problem. Price drops on news/rumour of a fund raise. Price for said fund raise may then have to be revisited to get it away at an attract price (possibly an even further discount on what was originally intended).
This looks like the 3rd time in 2 years(?) that possible placing news has leaked and the SP crashed. Previously, it took more than a year to get anywhere close to previous highs before it happened again, and the last time, despite the consolidation we were told would benefit UJO, barely an upward move, . After the last one I contacted DB and, mistakenly, I believed what he said, and others on this board who had also spoken with him directly. And yet, no sign of any action being taken to prevent further leaks More fool me. Zero trust here for me now. Delivery, and on a big scale is needed to warrant the actions of the last 2 years. Why do all these types of AIM companies always try and run before they can walk. Spending millions buying up other 'assets' before actually realising what they have, and shareholders always paying the price for their land grabs and speculative plays in the name of 'maximising potential'. A piddly 500bopd (share of) simply does not cut it, despite how excited some are about the price of oil and reporting every minute movement. It will barely covers costs on all the different sites and fees to brokers and lawyers, as well as salaries, of course. It (500bopd) really is not the answer to the UK's energy needs however some may try spin it, and neither is the constant references to the Humber project, and COP26 being transformational here. It is just reaching to suggest otherwise along with the tenuous references and suggestions that big players are watching and waiting to pounce. Where are the rumoured bids for these exciting assets that all the majors and other interested parties have been casting their eye over since the original EWT from well over 2 years ago, there were multiple bids in the pipeline, no?
And yet some will continue to defend DB saying that some projects are not under his control and call out posters for highlighting their concerns rather than taking a good look at what has actually been delivered in the past 30 months or so. Yes, there have been big challenges, no different elsewhere, but it really has been a poor performance nonetheless.
Rant over from this 'pea brain'. At least my eyes are open. This share is now firmly at the top of my list for a reduction/exit, and at a not insignificant loss too. My decision though, so not blaming anyone else. gla
Not sure they would be screwed. Yes, the share price has already partly dropped in anticipation but by nowhere near as much as it is likely to drop on Monday without an RNS. The best option now is probably a raise if they can away at 20p or above because after Monday's open the raise price will be lower than that I would expect.
Last night's RNS stated 'There is no certainty that the potential fundraising will proceed. A further announcement will be made in due course.'
Market abusers stand to make a great deal of money because of this leak. If David Bramhill releases an RNS first thing Monday morning saying the royalty deal will be funded from existing funds, they'll be screwed. It will be a win for the faithful shareholders, and a lose for the b*stards who constantly manipulate the share price.
Come on David, a bit of pay-back for the shareholders please.