Member Info for isdeer

selfish, we have already seen 10m wiped of the map for a few million placing, the wressle news was exceptional and its been ignored, when the money comes in the positivity will return, these chancers already have a 30% discount when they sold out to buy back in at circa 23p.

looks like we are around placing price 23p ish
I'm thinking we will have a few buys late on as this will cruise back up when peeps see how little it is.

direct me to this 1.04m payment to Humber in the annual report.

The RBD is also 100% sell its showing 4.4% up.

From RNS 8th June 2020, if it’s changed there is no update I can find.

It was 500k keep up

They already paid Humber, keep up.

I’ve been invested on the aim market for a good few years, I’ve seen a few things in my time, I still remember the oil that turned to water in the Falklands and The huge price drop that stole millions from Investors who had set low stop losses.
Think sp dropped to 30p within seconds and spiked back up to 80p, maybe someone remembers that better or was stung from thousands, luckily I hadn’t set one up.
This to my mind is just as bad, price manipulated for the few to screw the many.

Yep, it’s drawing out the pain for many long term holders, it needs to be completed ASAP.
The price has dropped by 10m, long term holders have been shafted once again, now do they bite the bullet and sell as many have done, do they top up, do they wait and watch the car crash in SLO mo. One thing for sure as happened last time their support will dwindle, buyers will dry up and negativity will blight this share, something needs done now whether it’s good or bad, we need an end to this price manipulation.

If we agree there will be a placing, even for a company earning over 100ka month.

Let’s look at the financials

Cash in hand latest 4.67m
Trade other receivables 489k
Loan receivables 1.027m
Inventory 15k
Total of 6.2m in assets.

Liabilities 2.38m.
These will be drilling costs paid in advance, wages etc
Also 1.04m due to Calmar LP for wressle 12.5%.
Not included will be the 10 weeks overrun on WN testing costs at 16.6% of total outlay. Let’s add another 500k, and let’s round up to c3m in liabilities.

I am of the opinion UJO still have a few million, somewhere between 2>3m available to them.
I believe they are being prudent and covering all bases, I also think they will be looking for quick wins on any assets they buy.
First up is the investment in NS royalty, I’m guessing this 25% will cost circa 1m to 1.25m.
What I would like to know is what’s the expected return on the 27.5% in total, the yearly numbers and cash flow without the jargon and a maths degree to figure it out.
If they are going ahead and buying I would expect they have to place given they would be down to circa 1 -2m left in the coffers with further expense due on WN.
The placing will also have to cover one of the other licences, where will UJO go next
Biscathorpe side-track, Keddington or North Kelsey?.
They will need cash to progress any one of these ventures, I’m guessing the raise will be circa £5m and they will be completing side-track and one other along with progressing WN, I’m also guessing RBD will also have to raise some cash, difference is it will be done in advance of a world news broadcast.

The aim casino,

its 1.04m, they owe calmar Lp on wressle production, where did you get the £2m figure from.
The 1m loan to be paid back from EDR on wressle production also needs to be included along with the 400k for wressle oil.

Good stuff ribeye.
EOG is also an option for merger if you want to go down that route

wressle latest estimate is 2.15m stock tank barrels of oil from egdon

The market also knows UJO still has a repayment to make for its extra 12.5% stake in Humber’s 12.5% interest in licences PEDL180 and 182, under a sale and purchase agreement for £500,000.
There is also a “deferred consideration” of £1,040,000, payable to Calmar LP, appointed by Celtique Energie Petroleum Limited, which originally sold its stake to Humber. This will be paid once commercial oil production is established.
So 2 - 3 months oil production from wressle will cover the repayment that’s now due.

That’s 3 times it’s been leaked, can’t recall that ever happening with any other company, that’s 3 times circa 10m of shareholder value being wiped of the mcap before the RNS was published. That’s 3 times this source has stopped UJO raising at a higher price so they and their friends could profit from ujo shareholder losses.
It’s time this practice is stopped and those involved are jailed.

If there is a placing it can’t be just for the royalties.
Ujo only paid 125k for 2.5%, this equates to 1.25m for 25%.
Why would Ujo consider 10m loss off their mcap a fair return for a circa £2m raise.
I’m off the opinion the raise is two fold, it’s a big raise and it’s for a larger slice of WN.
Along with the royalty stream increase to 27.5%, they also want another circa 10% of WN.
They will require extra cash to pay for increased WN drilling and testing costs and also provide partners with ability to pay for their own, IMO.

Next RNS I’m guessing will contain following words “ujo do not need to raise cash at this time we are absolutely minted, all those deramping aholes can gtf” or something like that.

I would guess it was a ruse by a few to drop the price and buy in cheap, if they were aware of the placing, they were also aware of wressle flow rates.
I’ve no idea why they would place given 2.5% was valued at 125k, I’m guessing 25% must be c1.25m. While WN may have cost a lot more than expected UJO were only paying 17.7% of the costs, so a dent in their cash but not significant enough for a raise IMO.

Wow, flow rates well beyond expectation, massive earner for EOG and its partners at wressle.

Off top of head £5.6m plus owed amount £1m from Egdon, WN project costs already paid for.
In any case for every £10m spent at WN, UJO costs are £1.66m.