Member Info for itsawrap

yes, I'm aware of all that, my point is a 10% increase in production of O&G equates to about 50k cubit feet of gas per day for 175mw which appears to be far more than the site requires so why would site only power increase production by 10% this month?

"It should increase by about 10% from January as site gas power is switched on." I hope you are right but imo with no obvious groundworks outside the site (roofers photos), I'm not convinced the Capstone turbines have been connected to a 'local private grid'. Perhaps on-site power is what we'll get this month with GTW for the private grid later this year once the off-site infrastructure is in place. I'm happy for my assumptions to be proved wrong.

has anyone found the job spec for the new ceo? are they actively looking?

Hi valju you say "being prepped for takeover or merger ", just wondering what you see that management is doing (or not doing) to prep the company for a corporate event? I cant see evidence of this other than perhaps not spending the cash pile but I put that down to either not finding a takeover target at the right price and/or keeping cash in case they lose the litigation and/or inertia.

with regard to Wressle, back in November EDR said they were going to commission a new CPR (in 2016 they used ERCE whereas UJO used GC in 2022), they didnt give a time-frame but Q1 looks likely

well said stas. ujo bought back another 100k shares yesterday, depending on eog's cash balance and likely 2023 cash-burn, I would like to see a modest buy-back as 1.10 appears to greatly undervalue the company. if eog were to consider a capital reduction, would investors prefer a buy-back at this low price or a modest dividend?

tovoc, like you I suspect EOG has a very healthy cash position, that plus a very good revenue stream adds up to a company that is significantly undervalued imo, hence my TP of 3p-3.5p by the end of 2023.

"Maybe caution and planning take longer than a lot of us may think." I think that is very likely, however I wish EDR would be more conservative with timing and not constantly deliver late, the latest example being the micro-turbine

persi, it feels as though the next couple of WN drills could be the last roll of the dice for the Chuckle Bros., on the plus side if RBD goes tits up at least UJO can close the cheque book on this money pit.

HDT, I suspect EDR will be happy with on-site power and exporting 175mw, this upgrade appears to have cost the JV £625k so not a cheap undertaking. It should also be noted that the price of wholesale gas is less now than 1 year ago so the incentive is not as strong imo

they cannot increase production to 1000bpd based on using gas for on-site power and export of 175kw, the maths simply dont support an increase of that magnitude, the only way to reach 1000bpd is GTG or full GTW

justbe the time to reach $1m is determined by production and poo which was (relatively) weak throughout December

once the 3 Capstone beauties come online we could see a 10% or more increase in production (1000bpd is completely unrealistic imo)

...we have a PR Team?

Hi serif, here is my post from the UJO thread today, the $12m milestone represents $9m for EOG & EDR. My opinion of the Wressle JV partners is that EOG will be the best performer by far in 2023 because I see it as significantly undervalued with a lot of catching up to do (unless soddie does something risky).

morning micky, this month should bring us news on several fronts, the $12m milestone, the gas monetisation update with a possible increase in bpd and the Bisc result, so good news just around the corner. UJO should have a good year, my TP is 45p-55p this year. Of the JV partners, my favourites for 2023 are EOG (TP 3p-3.5p) & RBD as a wild card. all in my opinion of course

copper3, these are from 24/12, note 3 new Capstone C65 units for gas to power...just waiting for an RNS from Egdon to confirm - more info on advn Ujo-thread

https://twitter.com/Roofershound/status/1606717942535970816/photo/1

micky, a very interesting post on advn suggesting the 3 Capstone turbines would burn about 10%-15% of the current gas therefore allowing a corresponding 10% increase in production - this ties in nicely with a link I posted last month suggesting a 10%-12% increase in production, if we are just a week or two away from an RNS we should see a strong rebound for the sp

https://drillordrop.com/2023/01/03/latest-onshore-oil-production-october-2022/

excellent summary of UK onshore as always (for October)

morning micky, this month should bring us news on several fronts, the $12m milestone, the gas monetistion update with a possible increase in bpd and the Bisc result, so good news just around the corner. UJO should have a good year, my TP is 45p-55p this year. Of the JV partners, my favourites for 2023 are EOG (TP 3p-3.5p) & RBD as a wild card. all in my opinion of course

it's a very strange buy-back, the broker has bought a small number of shares between 29.15p and 33p but appears unwilling to buy more despite the sp having fallen bellow 28p. As I have said previously, if the broker isnt willing to buy sub 29p, why should investors?

2022 performance (mid)
UJO 13.5 close 27.25 +102% (plus 0.8p divi worth 6%)
EDR 1.425 close 2.7 +90%
EOG 1.20 close 1.10 -8%
RBD 0.14 close 0.205 +46%

Wressle JV - change since 24.08.21 after successful coiled tube operation (a more relevant starting point imo)
UJO 33.0 close 27.25 -17% (inc. divi only -15%)
EDR 1.35 close 2.7 +100%
EOG 1.40 close 1.10 -21%