Member Info for itsawrap

mf2017, didn't you know that the troll has a fridge magnet that says "never explain, never apologise" ?

medium term (5 years) Egdon could be the best of the 3, fingers in a lot of O&G pies, unfortunately UJO is at the mercy of the operator, will EDG pull one of its fingers out and crack on with one of our JVs, or will it expedite one of its own pies? Kedd has been over-ready for several years, no progress, Bisc is in limbo for the moment, Penystone is promised for H2 (roflmao) but appears to have no planning permission. EDR seems keen to crack on with Waddock Cross, could be a JV for UJO? Basically UJO is at the mercy of EDR and Rathlin (lmao again). Until we have some serious progress on one of our PEDLs the sp will drift

many investors new to AIM end up having a costly education (I have), RNSs tend to be sugar coated and often play fast and loose with timelines and the "truth", these diagnostic companies are good examples alongside most small oilers. I have learnt to be more financially nimble - buy the rumour sell the fact is a good rule. One company I have come across that seems to be head & shoulders above the rest is Trident Royalties, smart management, very good comms, transparent about investment decisions, imo how an AIM company should conduct itself

John, I have given up trying to understand this company and the sp, fortunately I cashed in most of my holding during the last pump & dump with the intention/hope of buying back in cheaper. However I have not bought back in as this company has nothing going for it other than £90m cash which could disappear in a heartbeat if they lose the DHSC case. If they settle out of court or even win, the sp will soar but this doesnt change the fundamental problems with the way the company is run - PR is ****e, management is ****e, sales are ****e, respect for investors is ****e, what's left? I will buy back in if the sp drops to the low 50s but purely as a trading position.

"...finally accepting there is no climate crisis"

...to quote the great John McEnroe "you cannot be serious!"

my calculation is circa £10.6m

...more predictions than Mystic Meg...and slightly less accurate :)

dont forget the 1400bpd she's been predicting, I have no doubt that will become "I meant boepd"

...I see it slightly differently, imo the reason the sp slips and slides is because Egdon repeatedly issue unrealistic time-frames for everything. DB parrots the time-frames whereas he should have the courage to caveat every EDR time-frame with "this is absolutely the best case scenario, experience shows us that it's far more likely to be Q2/H2/next year".

Most investors have zero confidence that any time-frame will be accurate, therefore why "value" UJO based on rainbows & unicorns? Examples? Keddington, Biscathorpe, Penystone, GTW, GTG, 600m pipeline.....and not forgetting the mother of all promises....yes you guessed correctly, North Kelsey!

UJO is a great little company, lots of cash etc etc but until and unless Egdon crack on with developing Penystone, Kedd and maybe Bisc, it's all about the Ashover Grit. imo investors are valuing the company based on a single income stream and ignoring all the rainbow & unicorn projects because no-one believes the timelines any more...endlessly over-promising and under delivering. I believe the sp will respond very well to the new production data but then we are back to the status quo albeit at a slightly higher sp

one week away from the 2nd anniversary of the share consolidation when the sp was 41p

since then revenue of almost $15m from Wressle & Kedd, plus a dividend and a buyback

....thousands and thousands of posts ramping UJO...and yet the sp has fallen to 27p

How can anyone take the ramping duo seriously?

thx persi, I knew I must have missed something!

https://find-and-update.company-information.service.gov.uk/company/06478035/filing-history

2 documents filed 02.02.23, they seem to indicate that RBD has reduced its ownership to less than 50% - perhaps someone else could read them and see what conclusion they come to.

banksman, EDR has done a great job with Wressle albeit very, very slowly - Wressle has made UJO cash-rich and DB rich, unfortunately for whatever reasons it hasn't made shareholders rich! Currently UJO is a one-trick pony and is totally reliant on EDR & Rathlin to progress our JVs, especially EDR which has several projects of its own. In March 2024 will be still be waiting for drills at Keddington, Penystone, Biscathorpe and WN? ....of course we will. I will take great pleasure in being proved wrong.

from Egdon's recent RNS - 'Waddock Cross is currently shut-in. Given the significant mean in-place oil volume of c. 57 million barrels, this asset has been high graded by Egdon for redevelopment.' and 'Egdon has increased its holding in the Avington oil field to 36.33%. Avington remains shut-in, with work ongoing to redevelop the field during H1 2023.'

It sounds as though these sites have a higher priority than our JVs Keddington and Penystone Flags and possibly Bisc.
Bisc is a great prospect but even if the appeal is granted we may have to wait well beyond 2023.

Actions speak much louder than words - Kedd has been promised "this year" for 3 or 4 years. Penystone Flags appears to have no planning permission as yet. Will we see ANY of our JVs drilled this year? I have my doubts

there was a 380% jump in revenue for the last financial year taking the company nicely into profit. Interims out in about 5 weeks, meanwhile the new production data from Wressle courtesy of the micro-turbines is likely imminent. Egdon says "up to 20%" although from what baseline is not. Plus of course there are advanced plans for a gas-engine allowing a further increase in production. imo an mcap of £12m significantly undervalues the company based on current revenue and makes it look cheap based on the promises of increased production at Wressle. The next 2 years could/should be extraordinary for the company, time will tell.

thanks pboo. I recommend this interview to all UJO shareholders, lots about Wressle

possibly part of the Aurora acquisition although the 20.12.22 RNS does not mention any EDR shares changing hands

...a year ago I would have said she was looking for the UJO sp

more sensible heads are predicting sub 1000bpd based on data posted in RNS's - significantly less than the 1200/1400 fairytales being propagated by the usual suspects. expect circa 960bpd and I doubt you will be disappointed, there is NO basis for 1200/1400 bearing in mind Egdon has stated "up to 20%" increase