Member Info for isdeer

BWM,

When do you think we should expect an update on testing progress?

spike,

I agree, once some test data, hopefully its all good has been reported then i guess we will have some sort of cash call.

spike,

BWM already knows that, he's here to plant seeds of doubt and knock the sp down.

BWM,

Why would coffers be fairly empty and why would they place now?

We already know the cash requirements for current and ongoing well tests have already been addressed per April 26th RNS, why are you trying to place doubt in people's minds?, Is that RNS wrong are they lying?.

If and when they do have to raise capital, I much like you can only guess when, but for me it would be after the well tests, when we would all hope, holders and management alike that the sp will have risen considerably and any dilution will be minimal.

I also don't know the current cash levels but the following was sated in a recent RNS as recently as April 26th.

"The well is fully funded from existing cash resources, and in preparation of success, also funded for any long-term gas production test, plus further technical and initial conceptual commercial studies.

Just a thought, could be Fraser Lang selling his UJO shares, do Humber need cash for the well test etc?
Or does he need to sell for other reasons? merger?

According to the RBD rns who knows it could be more, much more than 189bcf and with the added bonus of oil on a huge license area, let's wait for the well tests to confirm.

Rookie,
I think Lenigas must have been sniffing the fumes from the back of his Lambo.
WN has a net 65-metre substantial hydrocarbon saturated interval from within the Kirkham Abbey formation.
Hydrocarbons are a mix of oil and gas, they just don't say it they expect you to know

Anyone worth their salt will be looking at UJO now and seeing a mega bucks profit. With a current value c£20m, its ripe for the plucking, given the market is currently well and truly plucking UJO over. The major players would probably look to pick up Humber oil in this deal and all of its assets for a combined total of c£100m. Maybe throw in RBD's WN asset as well, this would give them near 60% of the license.
The problem for the majors looking to buy is do they wait until WN test results come in and the price goes up or do they think it's worth the risk now. Could be an interesting few weeks, one sniff of a buyout and the sp will rocket.

Just did a tradeplan all my shares are up for grabs at 0.35. within 90 days, peeps say doing this stops them being used to short shares, who knows?.

Currently RBD have kept their gains, UJO are back to pre RNS as they are easier to manipulate with larger swings because they have a smaller mcap. Those greedy little peeps are just waiting in the wings to grab all those cheap UJO shares to rinse and repeat, if you can wait and don't need the cash a hold is the option as the sp will rebound.

300m valuation, strangely enough UKOG managed this without a buyout

miningqueen,

When you say huge money to extract what comparisons are you making.?

Does anyone know where i can find a copy of the WN A-1 original well discovery report, just to see how it tally's against the latest drill report for WN A-2

boblondon,
When RBD have already added c20m to their MCAP from lows over the last 3 months, how does that make any sense when UJO's current MCAP is 21.5m and RBD's 39.19m.

Oiler,

Why are people going on about (IF) this is commercial, these are huge pay zones and by that definition alone the hydrocarbons can be extracted economically. The tests will only confirm how much they have and by all accounts there is a lot more down than anyone expected. It's a waiting game to firm up what we already know ... its massive.

Happysparrow,
$5 a barrel is more than conservative given its location and the choice of gas&oil companies vying for business who surround it.

The RNS from 26th April states the following:

West Newton is a near term, and potentially high impact project which, if successful would deliver a major UK onshore gas development.The well is fully funded from existing cash resources, and in preparation of success, also funded for any long-term gas production test, plus further technical and initial conceptual commercial studies.

FULLY FUNDED, in any case testing will also throw of some revenue.

In my mind this latest RNS has painted a lovely picture and future for UJO, how it progresses can only deliver value for its shareholders. The options are whether to keep, merge, farm out or sell, if we can believe what the experts are saying this discovery is way beyond everyone's expectations. What many are missing is the value in the sum of all its parts, the current value is cheap as chips, the current SP only covers one corner of this particularly valuable painting.

A buyout is definitely on the cards , there will be a few suitors for sure. The license area alone is huge with Humber going first IMO.