Member Info for itsawrap

many thanks, I must admit, I have my doubts about our 600m pipeline being up and running by winter, hopefully EDR will deliver on time.

"Brent oil slipped on Tuesday as concerns of a possible global recession curtailing demand outweighed supply disruption fears..." from Reuters

pboo I havent followed the angus story but I understand they have an 8km gas pipeline, any idea as to how much it cost and how long it took? (I just wondering about our 600m pipeline from Wressle)

micky it's much easier to filter the wannabee "influencer", she never has any serious input, she's nothing more than a sad puppy desperate to be relevant. btw where's our daily pep talk from TAC????

time to wax down the surf board pboo and dust off the Beach Boys vinyl

RBD says "Completion of a Competent Persons Report ("CPR") by RPS Group in Q3 2022"

tac says "in the next three weeks we will have the West Newton CPR"

well, well, well, if tac is right it's not a great leap to wonder if he's an insider

" I am 100% confident the next few months will see some big changes in the market value and then people can find something else to whinge about. "

I agree with tac that the sp should make a very good recovery in the next few months but even if we all turn our losses into profits it doesn't exempt UJO management from criticism, now or in the future. Shareholders have the right to question management and to expect realistic and honest timeframes for all our JVs, unfortunately DB just repeats what the operators' say and rarely expresses his own opinion of timelines. Back in November he said he expected gas2power by year-end, well that never happened. He also said he would keep us informed wrt to the leaks investigation...silence. DB has over 40 years in the oil business but still quotes unrealistic timelines. I have 4 years investing in small oilers, 4 years believing promises and timelines that are rarely met so I now treat RNSs, timelines and interviews with considerable caution. Will Wressle deliver gas2grid in Q4? I really hope so but I have my doubts.

UJO owns 13m shares in EDR currently worth £560k, that's £380k more than the value in the 2021 accounts

I'm finding it really tricky to "value" this company, a lot of debt in a rising interest rate environment is not great, however jdw has a large property portfolio which could be turned to cash. my own experience of spoons is that they are always very busy, many people are saying the same on advn and here, so if most/all spoons are very busy that may leave limited room to increase turnover other than opening new pubs. imo debt is holding back the sp, any thoughts?

https://www.investopedia.com/terms/d/deferredshare.asp
not much info in the annual report so I had to google it, this may help

selfish, it's tac who has been claiming the CPR will be out in July, the Rbd RNS of 21.06 says:

Completion of a Competent Persons Report ("CPR") by RPS Group in Q3 2022

rnst, imo the answer to your question is the long period of over promising & under delivering, the leaks & the unrealistic timings, however as revenue increases positive sentiment will recover quickly as will the sp. I think this is a great time to buy as H2 2022 and H1 2023 are looking very promising

PS it's hard not to conclude that tac is an advocate for DB with his daily pep talks :)

RBD - RNS issued 21.06.22 - West Newton Conceptual Development Plan

'Completion of a Competent Persons Report ("CPR") by RPS Group in Q3 2022'

tac, where does it say July please?

tac we have already had that discussion, you said I was being ridiculous, surely I didnt expect DB to undermine/contradict the operators? You then pointed out an example of what I was asking for! And then went on to say July & Q3 are virtually the same. anyway, that's one tiny example from years of RNS's, imo the problem will continue, I would love to be proved wrong by DB.
tac, we are both big fans of ujo, that's obvious, however viewing ujo through rose tinted glasses and believing what was said in RNSs (and interviews ie "no placing") for the last 4 years has lost me a lot of money, I am now far more cautious.

" the past in this case is not a guide to the future" in many respects tac is correct, however there are some exceptions such as ujo's RNSs simply repeating the same over-promising & under-delivering that EDR, RBD & Rathlin have excelled in. As I said earlier this week, DB answers to the shareholders not EDR or RBD! He could & should therefore be more cautious and honest with the timeframes, especially as he has "40 years experience in the oil industry", who better than DB to rein in the operators' unrealistic timings.

"This is a key milestone for the Wressle project as it transitions from an extended well test to production under an approved field development plan" this is from the RNS of 30th May. I think this means Wressle's production will be included in the monthly oil production stats for June, if so that could put Wressle at no. 2 after Wytch Farm which would be an extraordinary opportunity to big-up UJO

I'm interested to know what you mean by "give DB a chance now to develop the company" when all the ground work is done by EDR, RBD & Rathlin? unless DB is planning on buying more PEDLs or larger shares, is it not a case of UJO sitting back and being patient just like the shareholders?

100% agree, the communication is not great. it's odd that our favorite ramper-holic often says how hard DB works for us, but we all know UJO is not the operator for any of our JVs so what do our execs do all day, it certainly isnt PR

micky I forgot to add the possible divi or buyback, not sure how long the legal process will take, best guess no more than 2 or 3 months so sometime in Q3 perhaps?

micky, sp pretty awful but there should be good news this summer with the Wressle R&R report, hopefully some progress at Keddington, the WN CPR and the Bisc appeal result. I dont expect £1 by Christmas but if all of these events happen this summer/autumn I think 50/60p is possible