Member Info for isdeer

Ah, farm outs and JV’s great stuff, that’s it sorted then.

Tshipi is the only thing that has worked, pity it wasn’t Bell’s deal.

Briar, nope I’m not surprised as I bought into this lifestyle company many years ago, I like many before me have lost money as they moved from one fantasy money maker to the next.

Zumore,

Nice find, it proves all that nonsense that speculative miners and their board are in the markets mainly to line their own pockets as the mining costs alone are prohibitive, how often do we read fantastic exploration rns’s across aim and their sp shoots up, while the mugs are buying into the nonsense about the vast riches to be had, the market is selling into the rise as they know it’s fantasy land for these small aim companies to raise the amount of cash required to build a mine and deliver any profits.
Where do companies like RRR raise 50m not 500k from. This gravy train only runs on its boards lifestyle tracks, anyone with sense jumps off early and doesn’t hang around until the last station. When it’s hot it’s hot, this company’s so cold, you could stoat it off a brick wall.

Where rgm and batteries are concerned I don’t expect a + positive outcome.

Monetise through rathlin, maybe sell that part of the business and keep WN direct interest through to end game as a cash generator. Who knows what the plan will be if all goes well, they may have many options.

Rubey, maybe they were, but this close to production I have my doubts.
I would also expect more cash rich companies other than RBD would be interested.
Longboat or even Deltic who knows.

In regard to Wressle, initially 500bopd up to and tested at 700bopd, this is only for 1 well. If the UK requires its own onshore oil and the govt incentivise who knows.

Bramhill provides some insight into Biscathorpe (750k) for a side-track
https://www.youtube.com/watch?v=WXy5rucHlFU

I agree Dave, what I don’t agree with is some people on here insinuating UJO are somehow deficient in funds for this drill programme while RBD who just paid Humber cash and are now picking up their drill costs are somehow immune.
For info I am an investor in both UJO and RBD.

Bisc will be a side-track from suspended well so not as costly.

Cash call was made, Humber paid it then sold to RBD, don’t think so.

RBD now have to support their direct interest WN so will have to pick up 16.66% of drill costs, same as UJO. Rathlin with their 16m in cash from RBD will need to pick up the rest, 3 x the costs of the others.

Best case x 20, worst case only gas production at WN and depends how much.

It’s done it’s own deramping, it’s neither produced or sold anything ever.
It’s a shell of a share with nothing but wind and bluster promoting it, it would do well as a best seller in a book shop for the most consistently dark fairy tales and those pots of gold at the end of the rainbow, keep watching as the ship sails it soon stops as the wind dies down and then there’s a new story of further riches with the next big hyped thing, it just needs lots of mugs to buy in, the big buyers are already in, they just need mugs to buy so they can sell. If you time it you could do alright, if you don’t hard luck, just don’t be greedy sell early it’s not a share worth holding.

If that’s the case only the strong will survive, not those sitting on their hands and stealing a wage.

Rubey, the problem with that is it won’t be cheap given wressle will be producing this year, Humber sold because as we now know now, they were selling down all their assets. I would also imagine there would be other interested parties if either company wanted to sell their 30%.
I’m not sure regarding each companies cash position either, do they want or need the money for other ventures in the short term or would they see this as a catalyst for currently low SP.
A point to note Lang was also on the UJO board and he knows David Bramhill well, they had a working partnership with Humber where he is the executive director.

Mobilisation within next 10 days, camp on way back.
Wide load travelling from Hull and expected at WN on Tuesday, confirmed by East Riding council.

Rob, I use IG, I also have a BOS share account which I use rarely as I prefer IG.

GP,
At WN A they will soon be starting the extended well test, the cost to UJO, lets say for arguments sake is 500k or a 6th of the (guesstimated £3m ongoing costs.)
WN B-1 is a new drill, lets say for arguments sake UJO's share is £1m or circa a 6th of the £6m costs for drilling and testing. The costs to RBD on these assumptions is £4.5m or 3 X UJO's outlay, UJO have over £5m in cash, their costs for an extended well test , new drill and testing at WN B-1 is circa £1.5m, therefore imo its not a money issue for either company as RBD have over £5m in the kitty with access to a further £5m if req.

Cluffs to Deltic, not the other way round