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I agree, positives versus negatives have got to be a consideration. it seems to only be the negatives with the loudest voices .
has anybody got a link to the consultation site for us please.
Hi Ocelot,
Lets hope they are all buys, ideally from the BOD, that would be a good advert for the future.
It's hard to judge weather they are Buys or sells as right at mid price (end of day), but they may well have been orders from this morning as the SP was around 10.5 then.
Who knows and lets just hope it's a positive and GF, MA etc are getting in before the VOX interview and before the consultation meeting in 3 weeks time.
I'm assuming this is NOT a closed period at this stage and they are allowed to buy in extra shares? its well after the Final results and AGM and after the GreenRoc interview with SB.
So I cant see there being a problem buying in !! any other thoughts. ?
Nice idea ScotAlba, I think a nice cold beer would go down nicely and fingers crossed for an RNS with good positive news from any source.
GLA and have a great weekend all.
If your out there ScotAlba
Is there any news from your man and his dog team?
appreciated for your regular updates either way.
Cheers HDT
Nice one Lodes, Looks like updates are happening. Lets hope the reports actually mean something more and we can get started sometime soon.
Well a bit less than hoped for.
A late trade buy yesterday and a few midday trade buys today.
I do feel this could be about time for an announcement/update.
We have waited ages, we have sent additional replies in for extra questions asked.
It must be time for news, appreciate there will be a public consultation off which I hope any potential questions and concerns have and can be answered positively.
Hoping for and RNS now maybe 4.30pm after market closes then we can cheer up over the long weekend for a potential stampede on Tuesday. !!
Hopefully I'm not being too optimistic.
GLA etc
I'm guessing any movement is a positive !!
Sometime I wonder if anybody is working at NRW ( sorry for the sarcasm)
I think we are all so desperate for anything positive, other than rumours that we are hoping this is a movement out of the the void of nothingness.
I'd imagine if there is anything in this there maybe a few late trades today and hopefully tomorrow with an RNS saying "lets get stuck in".
Wishful thinking, but I remember last time something really good happened and the SP almost doubled. I think it was a directors purchase GF.
Fingers crossed and watch out for the early morning RNS.
GLA DYOR
Re: Reabold
I believe, 417,663,644 shares that were dumped on the market yesterday !!
Not sure who by, but maybe an institution or the previous lot trying to take over the company? (somebody just fed up with waiting)
Not sure, I just wish that lot got sorted with rathlin and actually made some progress with West Newton.
Its a bit frustrating to say the least that with all the potential that UJO has, it just keeps getting held back by red tape and JV companies.
I do like DB, but we need a bit more of a plan actually taking shape, with some dates/timescales and actually achieving them. Maybe it is behind the scenes as you suggest and us meagre shareholders will find out sooner or later.
Hope so, anyway GLA etc
Its a bit too much of a risk I'd suggest.
Roulette Red or Black, massive potential for the company, but could also kill it dead if it failed.
Wressle is a good asset, but it ain't £40M and that's what people with better experience than me suggest Inishkea might cost for a single drill program.
I worry slightly that they wont get a farm out partner and that they might eventually lose/give up the license (as in morocco), but all sorts could well be going on behind the scenes and there maybe an RNS out of the blue saying its all sorted and drilling asap etc etc. Fingers crossed but going alone I don't think is an option realistically, but I like your confidence.
I've just listened to the VOX interview again and it does sound pretty good and without saying or committing himself to say its in the bag, it's as pretty close as you can get without waving the permit in the camera !!
Better vibes on this than recently and a good end to the days trading I see.
Not the big 10M shares being bought a few weeks ago, but there are rumblings.
GLA DYOR etc etc and have a great Weekend all.
I reckon Alba might be giving the new King & Queen some Welsh Gold with a Dragon type emblem embossed on it sometime within the next 12-24 months hopefully.
"Was the Prince of Wales, now the King of the United Kingdom"
Now that would be a nice tribute and plenty of TV time.
I appreciate the head office is in London, but it would be quite easy to have the AGM in Wales, even in the Alba office or a town hall (Big Pub!!) near the Mine site.
I am sure if the site is safe enough for the MP's etc to visit a few months ago then I for one would love to visit the mine if possible and get a more one to group shareholders meeting with GF and MA.
That could well be fantastic and could also encourage direct investment if any of us have where inclined to further invest, similar to the public placing that GROC did, but with more success and takers.
Hopefully your reading this George and I really think this would be good PR for the future.
I agree Heid, Your contact with Mark Abbott is an advantage to us genuine shareholders.
Keep it up.
ps I do not wish to offend you with regards The Royalty issue, so please do not take it that way.
I feel a bit more information would have been better "If not as sensitive as it may have been"
Cynderlad,
Ok I'll bite, why do you suggest the true price of UJO should be 14p/share ?
To date there is no water cut.
There still doing probably $8-10M / year from Wressle alone.
There's £10.5M approx. in the bank.
your suggesting 14p price with around 10p share in cash already.
so in about 7 months ish the other 4p difference should be in the bank in cash.
(Ok Ok, there's going to be some capex and tax and wages etc to pay) But why so negative?
Do you know something we do not ? (Includes DB, Malcy and others)
Enlighten me(Us) on your assessment please.
Looks like I've missed something here. What has happened to push2?
I never had a problem with him, but it seems he has vanished.
Fair enough comment Grey Panther and rational reasoning as to a lack of potential information from the RNS.
I hope you are right and as you say we may find out at a later date that it is a good move.
Facts are facts when we have them, everything else is just speculation with a bit of smoke and mirrors added in to suit peoples objectives.
Thank you.
YES the information on how much it has been sold for DOES matter.
The Royalty asset had a purchase price it had an income value that I beleive we couldn't actually get because of whatever B.S .wouldn't release the money to us and it then has a sold price.
Did we actually ever get the Royalty income we should have had?
What is the actually price we received !! If we actually have received it in cash or promise or another value?
What therefore is the final price !! We hopefully obtained minus the purchase price divided by the years oh having the asset!!
I'm sure we all have calculators and can work out ourselves if this was a good deal or not.
Come on DB treat us with some respect and actually tell us the numbers. It's an RNS so the numbers are allowed.
I suggest the numbers are extremely poor and thats why we are being treated like mushrooms.
TAC and Heid, I have great respect for you both, but writing this up as a blind positive is really just adding to what appears to be a con job on this Royalty investment.
You can be honest and negative sometimes it then adds to your credibility.
Best wishes all HDT
Thanks Tonynorstrom and Grey Panther. The information you've both given is as usual great. I didn't realise there would be so much difference in such a relatively short distance from each others drill sites (Few hundred miles). I also presume because its around UK its also more expensive at least for health and safety and environmental safety issues. I have shares in other oil companies and one recently has been drilling several wells in quick succession in Columbia, they are shallower and quite low volume compared to what I would expect Inishkea to hopefully produce.
Fair enough and explains the slow process of finding a farm out partner. (It's not every O&G company that would take that risk), I'm guessing I3e wouldn't touch it now? Not confident on the big boys Shell, BP, harbour etc. Although Shell are involved with Angus kind of on a smaller gas field/storage and have bought the Victory prospect from Corallion/Reabold so they could well be stitching up Gas assets around the UK/Ireland for the future.
Fingers crossed and thanks again.
Cheers HDT
Hi Tony, just a quick question. Why is the estimated drill cost for Inishkea $40M ?
I'm assuming this must be for multiple drill sites and not just a single location in the license area. If Serenity's original planned appraisal cost was around £8.5M, then I'd presume that the $40M is for maybe between 4-6 drill sites ? Or is Irish sea so geographically different to the north sea.?
Thank you in advance.
Cheers HDT
David Bramhill has done a fine job and should keep his position (or similar) for as long as he wants and is able to do so. Agreed he's getting on a bit, but if it ain't broke don't fix it.
I think a lot depends on the short/medium/long term plans of the company by the BOD and the shareholders current and future.
Its fine with a steady income, but 1 main producing asset is not safe enough for ever. If thats all we have then a building society we might as well be in.
We do need several producing assets and a plan for continuous growth from there onwards.
Ok we've got potential, but potential is not now!!
We are NOT operator's and that seems to be one of the main probkems. Yes we have other issues as well (red tape permissions, operators with restrictive finances operators with restrictive workloads, lack of other viable options, etc).
So what are we going to do about it?
Wait for West Newton with Rathlin/Reabold maybe with a few plans brewing "but don't hold our breaths"
Wait for more from Wressle, or get Keddington, Biscathorpe, or one of the others going properly assuming red tape gets sorted. Again maybe, but all others are operated by Egdon with various % invested by UJO.
Egdon is the preferred operator it seems by Ujo, but just seem to promise more than they can deliver. Presumably workload over commitments and shortage of staff, rigs and probably a bit of cash shortage to get them all going just from the Wressle income.
So again, what do we do?
Looks like our only option to develop as fast as numerous shareholders would like is a Merger with Egdon.
Probably 2 good management teams that could integrate quite well. Then as some board members from both businesses go through natural wastage etc, we would still have a solid team of experience and a lower average age.
Then the combined company could well have the joint cash to develop more assets together faster and with the income of Wressle and then also the next income from either Keddington or Biscathorpe could well get the 3rd producing soon (6-12 months after). Thereby 3 producers, now we are looking like an ambitious company with a strong foundation.
A takeover is unlikely as Egdon has several big holders unlikely to want to be taken out by UJO.
The similar boat UJO maybe to high a MC for a realistic take over by Egdon without juggling a lot of paper. Neither has enough cash for a proper takeover, so I think a merger might answer most of the problems and ambitions.
Gla etc and thats just my opinion.
Keep David Bramhill and Mark Abbott.
So just an observation and thought.
From Company accounts to 31/7/2022. Directors’ emoluments and a bit of info from interims
Maybe around 20% increase in wages? (Guess)
Directors’ salaries and fees – Company & Group 2023? v 2022 v 2021 in 000's
CW Ahlefeldt-Laurvig ? 10 26 18
P Greenhalgh (to 14 October 2020) 32
BJ O’Cathain ? 50 41 28
SG Oddie ? 310 258 146
S Williams ? 37 31 21
W Holland (App 1/6/2022) ? 55+ 27
Alastair Stuart (App 3/4/2023) ?
Totals ? 462+ 383 245
On 15 March 2023, the Company announced the retirement, with immediate effect, of Simon
Oddie and the appointment of William Holland as Chief Executive Officer of the Company.
William Holland previously held the office of Chief Financial Officer. Simon Oddie remains on
the Board of the Company as a non-executive director.
On 3 April 2023, the Company appointed Alastair Stuart as Chief Operating Officer and Executive Director of the Company.
So how much would S.Oddie have been paid to 15/3/23 and how much as non exec ongoing?
How much will W.Holland be on now as CEO (Hopefully with no Morocco & Serenity stalled quite a bit less but a fair enough wage?)
How much will A.Stuart be paid?
How much saving now on Mr William Ahlefeldt ? £26-£30K/Year
Just a few thoughts and I would really appreciate a reduction in wages for this full year to 31/12/2023 and maybe a bonus based on average SP increase over the year from 1/1/2023 if down then NO BONUS.
Busy de-ramper day today !!
I presume the lack of news = Idle Hands Are the Devil's Workshop
So filtered a few today already, they've already been spotted by the alert BV and Push. Cheers
Why are these de-ramper fools so obvious ? Maybe because they are fools !!
I appreciate the impatience of people and the lack of trust in the board, but as push says, the work has been done, the initial gas flow is proved and its maybe a mistake not sorting the fixed pipework out earlier but the gas, it will still be there in a few weeks and then sometime then in the gas network.
Remember also its kind off summer so maybe the powers that be are not desperate to accept a new supply of gas when they might not need it urgently (For storage or use)!
( Probably not this as its only small scale, compared to the other national supply.)
Patience I suggest, frustration is par for the course and as they say "It will be alright on the night"
Enjoy your break Push and I'm sure your right Cheers.
ps I thought you were on about me putting pen to paper at 8.23, it wasn't obviously just similar name to "Richard Herbert on the BOD" lol. This is what happens when I read things whilst half a sleep.
GLA and the more intelligent people keep up the good work.