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Hi all,
Yes BV and hopefully we can make more as you suggest against the summer hedge demands being lower.
I am conscious about Push's comments that although more can be produced that , it would lead to lower pressures from the current wells and then may need a booster to assist with production.
Nobody really knows how much gas remains in the site and I do feel that there maybe a storage solution for the future and then the compressors would be needed for a long time after original gas is used up (assuming any future stored gas doesn't leak away through the swiss cheese drilling going on "Joking !!")
Hi Dan, Yes trust is a wonderful commodity it seems in Aim Directors/CEO's . I am hoping for what seems to be third time lucky with this new drill approach. But putting into the context of drilling with the words of a doctors comments from years ago (Totally different subject). 1 loss is unlucky, 2 losses are suspicious but 3 losses is Murder !! He was proved wrong in the end with a lot of people suffering, lets hope we are suffering on this investment forever.
Hi Robo, cheers a bit of a fishy comment !! maybe my eyes are a bit out of line but it allows me to sometimes see predators whilst hiding in the sandy background. lol
Lets keep smiling and hope we all have a good night tonight with Wife's, Husbands, Girlfriends, Boyfriends or none binary's etc etc or just on your own (sometimes less hassles)
GLA, watch this space and lets hope we don't get diluted into oblivion
I'd love to agree with you Dan and Howey, but as we have seen over the last few weeks, that from Angus talk and tweets are cheap and if they knew the geological structure as they pretend to, then surely they would have drilled the safer path in the first place and saved so much money and time with a strike at the first attempt.
We've heard so much about changing the muds, adding Calcium Carbonate to improve the well wall strength etc etc and losing the BHA along with more excuses.
I do really like what they have achieved with getting the site up and running (although much later than forecast).
I along with others are really not happy about the several dilutions that have occurred and now the bigger players have been stung a bit, although I think they will get their money back much quicker than us (Unless your a lucky trader).
I am really "hoping" for a successful side track, but we must be on the verge of a cash shortage yet again and still no guarantee's of success.
I would imagine if there was success, and the SP rose to above lets say .0125 then no doubt there would be another placing with the spin on Balcombe or a booster compressor etc. to spend it on along with more debt to the rig operator .
I'm trying to be realistic to what is and has happened over the last 12 months plus.
I am considering another buy it to reduce my break even but I am also wary of chucking good money after bad.
If the smaller shareholders trusted GL then it would be easy and just a blip, unfortunately he has lost a lot of credibility and needs to get it back, I'd imagine side track success and an action plan not funded by placings would help.
Anyway GLA etc
You maybe right BV.
I notice a company called Lucas Bollney ltd has a 18.75% stake along with quadrilla with 56.25%. One or both might look to off load a bit or all.
I'm not sure on this but I thought Quadrilla was an american company into fracking. They had a test site near my end of the world in Lancashire that had to be stopped when the fracking ban was first badly finished. Maybe they might want out of UK, but I understand they have more interests than lancashire and balcombe
I suppose time will tell and I'll continue to need my snorkel with Angus as I'm definitely under water now.
I was going to average down again at 0.011 this morning but had an argument with my alarm clock and missed it (thank you alarm clock).
Gla. Etc
Well I didn't expect another fall in SP this morning with the Balcombe news. But this company continues to surprise me in a negative way.
I note that Angus is the operator for Balcombe but only has 25% of the interest. Quadrilla is the main holder with more than 50%, so not sure whats going on here again.
Any constructive thoughts appreciated, I'm thinking as the news seemed to come out late yesterday that it was a surprise as well for the Bod and thats why no RNS at 7am, so maybe later today and with some positive news to spin the SP up a bit for potentially another placing!!
Anyway Gla and fingers crossed for us.
I appreciate the Buy Backs may not have had the desired effects yet, of reducing the week holders and maybe stabilising the share price slightly until the impeding good news comes through.
But what has happened this week? The last RNS was 2nd Feb regarding BB and nothing since, despite some decent turnover in stock.
Surely there would be a couple of hundred thousand shares available to take up.
Maybe there has been some shorting going on after the BB's (I'm not convinced, but maybe from other comments), it's not the first time UJO has issues with the company's broker. I'm not saying they could be guilty of a shorting activity, as K don't really get the possibility.
But why not continue with the Buy Backs this week, they're now cheaper than the previous purchases. What is the plan or hold back ? Any thoughts.
Cheers
Nice find mullins. Australian based company mining Graphite from Africa and manufacturing in America.
If I remember rightly Groc graphite is twice the purity per tonne if not more, so basically cheaper to transport and refine per tonne etc.
Syrah technologies is a company owned by syrah resources who have a market cap of over 1B aus $ they have also put in 170ish M$ into the technology side of the business.
Seems they are a big player, but Groc could well rise massively if they continue to upgrade resources and maybe Groc will be the Europe version.
I'd need to research the scales between the two companies.
Positive news whatever happens.
Gla etc
Nice find mullins. Australian based company mining Graphite from Africa and manufacturing in America.
If I remember rightly Groc graphite is twice the purity per tonne if not more, so basically cheaper to transport and refine per tonne etc.
Syrah technologies is a company owned by syrah resources who have a market cap of over 1B aus $ they have also put in 170ish M$ into the technology side of the business.
Seems they are a big player, but Groc could well rise massively if they continue to upgrade resources and maybe Groc will be the Europe version.
I'd need to research the scales between the two companies.
Positive news whatever happens.
Gla etc
These sales don't make sense, even if they where sold from placing shares at 4.5p then its only peanuts from the 100k -200k sales.
With trading commissions there's hardly a profit, (maybe £90 after costs on £4500).
When there's so much more potential if held for another few months to a couple of years. As nookie suggests at 15p then around £10k profit on 100,000 purchase @ 4.5p ish, then thats worth waiting for.
I think Mr. Bernstein is doing well and updating very regular. I would like to think your news comment Butchers for March will also be great. I'm assuming you mean Thule sands?
Time again to raid the mattress I think.
Gla , Dyor etc
I hope your right Heid,
Positive because of positive results is great and nothing wrong with that.
Positive just on a gut feeling, if explained that way is also great, if that gut feeling has a good track record.
Positive on the grounds of hype or ramping can lead to disrespect of that person being positive, if incorrect.
I really do appreciate your input and research and I do follow your posts to hopefully obtain an edge on UJO/oil in general, so keep smiling and I'm not going to try to change your posts.
I do feel the constructive ones are the best and the defensive returns against pboo and the likes are a waste of your time and unfortunately ours if we accidentally read them.
Good luck whatever you think and don't let the buggers get you down.
Could be right joking, but at least its a change of subject.
Just another thought recently.
Nobody has mentioned the 100k shares purchase yesterday and the late 40k on friday.
Ok ok its not unheard off but recently its only been the company buying back followed by an Rns. To those decent round number's.
So any thoughts? It's not me, I don't think its Heid although she did mention something about stake building recently. Could this be institutional? Maybe its a one/two off and somebody likes round numbers other than DB.
It looks like a good cheap share, covered 1/3 in cash and increasing.
Anyway just a different thought to add to the pot.
Gla, dyor etc etc
Come on, come on.
I'm all for positivity but producing 1000 bopd equivalent was probably just for a short period of time and probably not for a full day.
If the previous bopd average is around 800 and that's burning off a consistent 10 tonnes of gas, then even with gas to the generators and allowing up to 20% more production then thats just towards 960 bopd.
So unless the gas from the well is reducing and therefore letting more oil out/gas out proportion then its not likely to increase to 20% above the 1000 bopd short term flow, to 1200bopd.
Let's keep it calm and cool, it's a great site but the gold at the end of this rainbow is going to take time to produce and words as well as restrictions won't produce it significantly faster (1200) even when the generators are running.
We must be bored and anxious on here whilst waiting for West Newton or Biscathorpe etc.
Great positivity, but let's get real. Cheers all.
I'm surprised to see this drop below the placing price. Accepted its not a quick overnight investment, but a potentially great medium to long term one.
Bluejay seem to be a potential barometer as they are more advanced towards production than Groc and they are down today after more decent survey results.
Maybe they are both staying flat to down as people want instant production and would prefer to take a loss rather than wait (so why invest in the first place).
Are people just chucking money at investments for instant success or what?
Hopefully this is a positive and can be achieved, but not at the expense of the other projects awaiting time to develop further, ie. Wressle & Pen#stone flags as well as biscathorpe if when approval is sorted.
It just seems we are biting off more than we can chew on project development. I notice there is a 6 month option time for sorting the survey assessments etc.
So if this takes up to 6 months, if its bad then we lose £100,000 (so fair risk), if it's good we then sort a 70% operating stake and presumably have to fund the drilling and everything else to 70%.
What about the time scale and can we achieve this with everything else going on ?
or is this another 3-5 year project after surveys?
Well thats a lot better performance than the last Million.
Great news again and back towards the 30 ish days £1M from the Jan report of nearer 50 ish days.
To the critics out there, then obviously the maintenance slows sales down along with probably Christmas slow downs maybe and oil prices.
So not worried here, the site is still a zero water cut producer and with the new gas turbines, things should continue to be great.
Let's just take this as a positive and not put any negative cr#p on it.
Well done team, onwards and upwards.
Your up early today Heid.
You could well be right about Shell. Reabold have the contacts probably from the Victory sale, of which they will have been involved with Corallion as there investee company, (Similar play with Rathlin) but I do think they got a bit bullied and a potentially lower price and time scale delays for the payout.
Maybe as it is more of an offshore and may take longer to develop than potentially West Newton onshore. Then again to Shell its pocket change and they will have the infrastructure to develop much quicker than us etc.
Anyway best wishes and let's hope your right and sometime this year WN gets proved, flows commercially with the new technique and UJO continues with its brighter future.
Gla etc
Well seems another 125,000 buyback potentially and now just under 1.4% bought.
I reckon with my totally gut feeling and magic calculator, double to treble this amount will have sucked up the loose shares and a steady healthy rise should occur.
Basically I feel 3-5 million shares ish or 3-5% ish taken out of the loose day traders should creep the SP up and hold it at a less volatile and steady price, generally increasing with good to great news from obviously Wressle and hopefully 1 or more of the others over the next 12-36 months.
Granted there will be blips up and down, nothing in this game will run smooth and there could well be a big boost in West Newton proves itself if/when it happens and if there's a potential sale to a bigger player to fully develop.
I feel DB is a steady captain of the good ship UJO. I do appreciate he's no spring chicken and may want to chill out one day, maybe many years from now and maybe there could be another MD that can continue the work.
Thats a different post for another year.
Let's support the company, let the loose holders gradually depart over the next few months/weeks and let's get stuck into the next fantastic project that keeps on giving.
Again just my opinion, nothing scientific, I've been around a while and I'm not too bad.
Let's see if I'm anywhere near right. GLA etc
Well Great news and an upgrade on potential value into the High 30's so about 6 times the current SP.
Looks like people are getting to realise the potential although a longer term investment.
A price monitoring stop already this morning from the news being taken in, but that was probably expected with a bit more than usual demand on a tightly held stock with not much fluidity.
I think the fluidity will be quite tight on this stock until at least they get back to the 10p original issue price.
Why would the original holders take a loss just as things are getting better and showing more proved value than a year or so ago ?
So just my opinion, I can see this Share creeping up over the 10p over the next few months as more and more updates are released and more plans are announced.
This share could well be a steady grower and potentially great for people getting in at this level. There will be more opportunity's along the way as developing, costs money so very likely to be more placings as we develop.
Quick message for Dr Stefan Bernstein (if you ever read these boards), Please try again with the placing subscription as and when needed for Private investors. The first one was only taken up by only a few of us, but I do feel with a bit more information out there and the same terms as the main placing, that a lot more private investors will uptake more.
Best of luck anyway and keep up the good work. GLA
Your probably right Mymine.
"Arguing with an idiot just make two !!"
Heid wont leave the board, she loves it on here winding up the negative blokes and I suppose good luck to her.
TAC generally a positive, I just would like new news but I suppose if there isn't any he cant comment on it, but always worth a read.
There's a few other good ones, but just swamped with "Swampies", I just filter the idiots, as life is too short to read their dribble.
Hopefully we can get something to talk about properly like Biscathorpe, the next Million dollars or Wressle increase etc etc. I think West Newton is potentially great, but we haven't enough pull at the moment.
Everything just seems a bit slow at the moment whilst we plod through the recession to get officially started and ended, It could be a slow 18-24 months, But hopefully not.
Yep, look like a nice 200,000 making now 1,350,000.
So nice guess Gwynwin, looks like DB is having a laugh and keeping us guessing.
Also looks like broker maybe saving up the shares from previous days turnover to make the nice round numbers the buybacks are showing.
I don't think it will be long before the weak holders sell up and the SP will creep back over 30p in anticipation of some good news from one or more of the assets.
Hopefully one where Egdon are the operator as I have more confidence in them than the Rathlin/reabold West Newton drilling start.
Still confident in UJO, looking forward to the final results maybe a month or so off and hopefully some news on dividends moving forward, 2 a year would be very nice.