Member Info for Crocqman

ocelot,
Putting the amount of funding required aside (compared to original estimates), we were led to beleive by GL that we would get an answer before the end of Jan (comfortably within the 90 day exclusivity period). on this requirement
On the 25th Jan (RNS) we were then told it was expected to be completed in 2-3 weeks.
This was quickly followed by a placing, which for some reason excluded a TR1 holder, so we had another one to allow them some 'cheap' shares too.
Then on 22/02 (RNS), we were told there was an 'expression of interest', also with an exclusivity period until 5th April. and GL was advising on the call (from memory) that he 'hoped' all would be in place by the end of March.

Of course the funding will take the time it takes, but to keep giving the investors 'achievable' time frames, which then keep moving ever further down the line, does not look good.

5th April, btw is Easter Monday, so I sincerely 'hope' that GL will be pulling an Easter bunny out of the hat on this.
Sorry to say, but I can see the SP dropping even further from where it is now if this latest funding deadline is missed - 50% down on the SP high 5 weeks ago with added dilution too.

Hard to see how this aspect (finance) can be defended tbh, especially as the timeline here is having a huge impact on the timeline for first gas, which I was conservatively expecting to be end December, Jan 2021 at the latest (on Angus guidance).

I am sure we will have to agree to disagree though

Can't disagree with your summary, Gallifreyam, or Yanis' viewpoint.

I asked a question on the call that was not answered, although GL pretty much acknowledged it on his 'summing up' speech.

It was asking how shareholders could have confidence that Angus would deliver on the current timescale and budget, given we have had 4 or more different timescales given for 'first gas' over almost 2 years that SB has been on the radar, the latest being around 1 year from the original timeframe, and ever-spiralling costs related to this specific project compared to initial estimates.
Not surprised it was not covered.

Too much fluff about stuff that is 18 months to 2 years away minimum. Deflection for me.
I see 6 months minimum to SF now, even with funding in the next couple of weeks. Their Q3 estimate is going to be late Q3 (September) for sure imo, but I would not be at all surprised to see it slip into Q4 either.
Not a deramp, just a big shift in expectations from me given the news and updates seen over the past 5 weeks or so.
gla

I would say that your 40k price is probably the low on the buy side currently today, and anything priced higher than the few earlier 8.30p trades showing will be buys too.
My small trade reflected as a sell too.
I don't put too much store by the buy/sell indicator (I am aware it is an best efforts thing, as the direction of any trade is never reported), it is the volume that is more imprtant for me (and any large trades)
gla

Good post, Alcoops.
Always good to have a reminder of what is on the horizon.
I was at my target weight here, and not intending to add further, but have added a small trade in my ISA today from a sell elsewhere whilst taking a few new positions too.
Part of my holding is outside of my ISA, so I can be flexible with this position now, as and when news lands.
The ISA holding will stay for the long term - my average is 2p and EQT is now 12% of my share portfoio now.
gla

Thanks for posting this BD.
Still have some more reading/research to do here, but have taken a small initial position today at just under 56p.
Seems to be a good entry price close to that of the placces.
From the RNS, it would appear that much of the placing may have gone to the existing TR1's to maintain their weightings post share issuance, should see in the coming days.
gla

Have bought in today as my provider finally got round to setting this up on their system, it only took them 2 weeks!
At least I was adding at sub-8.5p instead of 10p when I was trying to on first trading here, but have taken a smaller position than originally intended to start with here with a view to adding on news.
gla

James,
It's all in the 24/02 RNS

Brocal,
You posted on 1st Feb: "RE CONSOLIDATION---I know for a fact that ATM consolidation is not on UJO agenda--cannot say more!"

And now you are saying you spoke to DB a few weeks ago and he said they would only consolidate for GOOD reasons.

Were these 2 different conversations, or different interpretations (by you) of the same conversation (one after the event)?
If these were different conversations, why the change of viewpoint in what seems such a short space of time?
Doesn't really make sense tbh

I have stated many times that my prefernce would always be a share buy-back when income allows rather than consolidation.

Disagree that this decision was priced in, there was always going to be an SP move one way, or the other on the decision.

Unsurprised, but as others have said, concentrate all efforts on SF.
Not interested in any of these side shows for the next 6 months (never have been anyway tbf).
Get funding sorted as the priority and push hard to get SF finished and producing ON TIME (well, the new schedule, at least).

If GL has not got the message now on what should be the priority, then I don't know how he will.
Let's hope the 'new' projects do not become a distraction, runnng before they can walk again.
Hopefully the TR1's are here for the right reason, and this is not a concern for them.

gla

I agree to a certain extent on the UJO assets, Ricardo, however there is a similar pattern emerging of additional land-grabs, very good potential but (so far) delivery not in the quantities suggested, unexpected and damaging placings, and long delays/silence - how long since original EWT at WN (August 2019!), first oil at Wressle was due in H2 2020 and we have been fully funded twice over the past 20 months or so, only to place twice, each leaked ahead and both very damaging to the SP which took months to recover each time (almost a year the first time, if memory serves, only for the next placing to dump ot straight back down again).

Really not trying to scaremonger, as I see a good return here, but this is not progressing to plan no matter what anyone tries to say (covid aside).

For the record, I bailed out of ukog recently, after 2 years of pretty much nothing happening, as you say, but have stuck with ANGS, although the financing delays there currently are costing the board trust and credibility (I took some good profits at 12p, but still down currently on the remaining balance, and only staying for the Saltfleetby project).

Enough of those other shares though, as I said before UJO need to start delivering, not only to reduce the doubts and concerns that are creeping in, and the next few months are key for them to do so, imo.
I have set my own timeline here now for this to start happening before I look to take action.
gla

Harra,
Don't worry about what others say, just do your own thing regarding your investments and strategy (unless it is unnecessary and unsubstantiated ramping/deramping).
Agree with RiskIsReward, alternative opinions regardless of their supporting views are often not welcome on most boards. Not too surprising really as investors prefer to concentrate on the positives (of which there are many here), than consider the negatives.
That's why there is always talk of MM games, etc when the SP drops rather than considering other reasons why this may be (often outside factors like general market conditions, or news impacting the sector, etc will be ignored).

I would ignore Officemanager too. Their post history shows that every post is calling out other posters and (not so) clever put-downs.
Absolutely nothing on-topic or relevant to any share, and yet everyone they comment about is supposedly a troll.
Over 5,600 posts too, proving that some people say a lot, yet have nothing actually worthwhile to say. Filtered for me now

Good post itsawrap, agree with everything there.

Ity is ONLY about delivery now.
The SP will not make any significant moves without confirmed numbers and cash in-flow.
We will see some peaks and dips on any other news (good for traders), but it is hardline numbers that are needed to move the SP North (ignoring the consolidation affect - mcap aside).

I sincerely hope this is the end of any new additions. Too many AIM companies get caught stakebuilding and moving onto the next 'big' project before delivering anything meaningful on the existing assets.
This MUST be the aim now for DB, stick to giving shareholders a long-awaited retun on what we have now.
Any new projects can then come from existing cashflow and a sounder financial footing which would open doors to alternative (and better) funding options, if needed.

I too am cautious, optimistic yes, but still cautious.
Deliver, deliver, deliver
gla

Why would they mention it?
They have already RNS'd full details on 19/02 to outline the details, vote, timeline, etc, and today's RNS has no bearing on the consolidation proposal

This exact question was asked on 1st Feb when they also issues a TVR RNS.
The answer is exactly the same too - They issued this RNS because there was a change in shares with voting rights during the month, and so they are obliged to notify the market via a RNS per FCA rules (DTR 5.6) at the end of the calendar month.

What we don't know, is the reason for the small change.

01/02 - 63,282,548 shares with voting rights
01/03 - 63,310,048 shares with voting rights

Test post as new posts not showing

Surprised to see the mooted special dividend on the cards so soon.
I think the pay-off is having to wait an extra month or so compared to last year for the AGM for this to be approved.
Not had time to work through the figures just yet, but the headline figures look promising, just disappointing that this continues to sit under the 300p level.
In profit here having bought in various tranches from around 350 down to around 220 over the past 18 months or so, but considering selling now as I will need funds for a project soon. Would look to buy back again in the future though as I have always done well holding this

I have no doubt that they can increase the flow with the actions stated, but with a current rate of 100-150bopd, some 1/3 higher than when first tested (not checked if this is the case), is it feasible that this could increase by more than 3-fold to the 500bopd that was RNS'd as an anticipated, constrained amount?
Don't forget that several posters here have suggested that without the consraints that Wressle would flow around 700-1k bopd.
I think some people are perhaps being over-confident with expectations here.
UJO's share was an anticiapted 200bopd, considerably higher than the current reported rates.
Whilst the income is great, and to get this far is a good effort all round, these 'reported' figures seem disappointng given the previous RNS declarations of potential.
Hopefully, we will have firm figures released in due course - perhaps it is still too early to make an informed judgement here?
The market will want some certainty before we see any real impact to the SP, imo.
Good weekend all

Tbb,
Results are always published at 7am in my experience.
Not sure if there are exceptions, but I can't recall ever seeing anything not released at 7am - it makes sense to be in the public domain prior to market open

To be fair, I feel the posts are pretty accurate regarding the current situation here, although I understand the more zealous here will fee thatl I am deramping too now, given my change of stance on the bod and their actions over recenr weeks.
Any serious re-rate, much like for the last 6 months or so will only happen with firm results/cashflow now (first gas), imo, as we have lost all of the previous SP momentum.
News on other fronts is more likely to result in a few spikes and subesquent drops, albeit with a potentially upwards trajectory as we head towards end Q2/Q3.
It will provide some with a decent trading opportunity, but a longer wait for the majority.
As always, hope I am proved wrong on this more downbeat view.
gla

Talkng about testing now