Member Info for itsawrap

tac you and I are basically on the same page, we both believe UJO is in great shape and has a very good future. However I no longer take DB at his word, nor do I take UJO, EDR & RBD RNSs as gospel. After 4 years investing in small oilers, I have learnt that RNSs are little more than a wish-list when it comes to a company's plans for the coming year and interviews are opportunities to sugar-coat the RNSs. One other difference is that I try to debate with posters, I dont get abusive when they disagree with me.

DaveT1, I'm not sure who that is directed at but I'll take the question. I have a large holding (despite what tac thinks) because UJO is in very good shape with the revenue from Wressle plus a portfolio that holds a lot of potential. However every small oiler has a portfolio with "potential". WN could be fantastic but it's definitely a money-pit until and unless it's successful. Bisc is in limbo without planning, NK is most likely (imo) dead in the water. the sp is being held back by the ridiculous wait for the Wressle report and a lack of trust in DB, plus endless promises of progress with our other JVs with EDR and dont forget the magical Royalty that hasnt paid a penny in income since 2017. Despite these unicorns & rainbows I hold because I feel UJO is significantly undervalued based on Wressle & cash alone, imo now is a great time to buy (but I thought that when the sp was 25p)

"When you look at the state of UKOG and their RNS today, you should he grateful in what we have with UJO. Both with UK onshore assets but only one reeling in the cash, debt free and profitable."

UKOG mcap £18m of which £2m cash vs. UJO mcap £25m of which £9m cash

strip out cash and one can see the market values them equally, not very impressive considering UKOG is a dog

"These BB's are open to abuse and unpleasantness with no respect for each other."

says the poster who called me a dick yesterday when I quoted 2 of his posts that contradicted each other...

btw the negativity on here is mostly frustration at the appalling performance of the sp despite the success of Wressle and £9m cash in the bank, you can sugar-coat it all you want with your constant pep talks but the fact remains the sp is in the toilet

lol, calling me a dick says more about you than me, you do love to give us daily pep talks and to pretend you know more than the rest of us, perhaps you do? perhaps I am right and you are an advocate for UJO, you certainly predicted the leak investigation 2 days before the RNS announcement as well as a couple of other things, so good luck to you tac but do try to engage with people without being rude :)

on the 4th of July you posted "in the next three weeks we will have the West Newton CPR,"
today - "West Newton CPR third quarter so potentially up to two months away, "

what happened, was your briefing changed?

if the sp keeps drifting lower I hope DB steps in with a (modest) buyback as soon as he can,
or how about buying some shares DB???? put your money where your mouth is

eski that's an interesting opinion which appears to be well founded considering one entity owns 46% of EDR and not a single TR1 for ujo

RNS 29.03.22 - Gaffney Cline were originally commissioned to prepare a Competent Persons Report ("CPR").
Over the course of the initial preparation of the CPR, particularly given the receipt of further positive information in respect of downhole pressures and the continued elevated production figures from Wressle-1, the decision was made to expand the scope of work from a CPR to a wider Reserves and Resources Report...

anyone who has worked on big projects will be familiar with the phrase 'paralysis by analysis'

It's about time DB made a decision and said to GC, "that's it, that's all the data you're getting, give me my report"

if Wressle ramps up to 1200-1500bpd plus gas2grid, perhaps UJO will be lending Barclays money :)

morning micky, lbart posted this email response from MA on advn and twitter yesterday

A welcome update from Egdon this morning:
"The Biscathorpe-2z appeal has been validated and the appeal process has begun. The next step is for Lincolnshire Council to submit their case and then Egdon has an opportunity to respond to that. We are uncertain of the precise timings of the decision on this as the Planning Inspectorate currently has a large workload and backlog, however, we are hopeful of a decision around the turn of the year. On North Kelsey we are just in the process of finalising our Statement of Case for submission during July and expect a similar timeline for a decision here albeit that it is a far simpler appeal than Biscthorpe. We are continuing to progress the gas monetisation at Wressle and also the work on the *****tone Flags development and our original timescales as advised on these projects are still valid. We have recently upgraded the flow lines at Wressle and production continues at strong rates..."

wiltshireman, feel free to start a conversation* of interest to investors, I'm sure many of us will be happy to make sensible contributions

*ideally without rudeness such as "the fat man"

H1 RNS was 27th Sept. last year, likely to be the same this year

Did the RNS of 30.05.22 confirm that Wressle is now a production site? If so, what are the practical implications and/or advantages of a well being in production? thx.

sharemeister when looking at a company's cash balance it's wise to also consider contingent liabilities and cashburn, cash alone is not the only story imo

I suspect we are nearing capitulation today/tomorrow, keeping my powder dry for the moment but it's beginning to look like an opportunity imo

"With planning consent already in place, this presents an opportunity to increase production via a development side-track from one of the existing wells. In addition, a near-field exploration opportunity exists at Keddington South (Mean Prospective Resources of 635,000 barrels of oil) and the Louth Prospect (Mean Prospective Resources of 600,000 barrels of oil)."

what the hell is EDR waiting for? the Keddington side-track has been oven-ready for ages, they have the money, little else is moving forward, come on MA, get on with it!

good to see crops in the fields and leaves on the trees this time

"The royalty purchase included the right to accrued income of £124,316 for the years 2017 to 2020, inclusive."

the Royalty has yet to pay out for 2017, 2018, 2019, 2020 & 2021

the Bisc planning appeal was submitted on 12th April, 4 months ago. Does anyone know how long the process is likely to take? thx.