Member Info for itsawrap

thanks casino, I'm actually even more optimistic, although current production was stated as being worth $100k per week, I think Wressle will be closer to 1000bpd, if I'm right a lot of people will be eating humble pie

feels like capitulation by many, time to buy?

casino, just one small correction, Wressle income stated as $100k net per week not £100k, although who knows perhaps you're right!

"Wressle oil production, following successful proppant squeeze of the Ashover Grit reservoir, significantly exceeding initial expectations of the 500 barrels of oil per day well deliverability projections. From 19 August 2021 to 9 September 2021, Wressle has contributed approximately US$300,000 net to Union Jack from test production during this short period"

forget WN for the moment, all being well Wressle transforms the finances of ujo, $100k per week, that's $1.9m by 31.12.21

ninetails we finally have jam at Wressle, $300k in 3 weeks and it looks like the jam-pot is much bigger than we all expected, imho the flow rates will surprise on the upside. if the sp drops tomorrow I'm happy to fill my boots at this price.

I dont know about WN but I have absolutely no doubt that Wressle is a fantastic asset, I predict well in excess of 500bpd - sp will be 40p-60p by Christmas 2021

DB bought the Royalty mid March 2021, in mid March 2022 - just 6 months from now - we should all demand to know if the Royalty has paid for itself within the 12 months as promised (or is the cash still held in escrow).

the Royalty may or may not be a good deal, it's hard to tell from the limited information given by DB, usually high-risk means high reward but DB is selling this to shareholders as low-risk / very-high-reward. Why would Cambridge petroleum sell 2.5% of a Royalty so cheaply? DB says "...payback of the original investment, including working capital adjustments, is estimated to be less than 12 months". Another 25%, another low-risk high-reward purchase? What's the catch?

lends money to another oiler, buys an investment product (Royalty), wants to buy another huge chunk of the investment product, it seems to me that Bramhill is aspiring to be a first class banker...

could it be that one of TW's contacts has fed him a FALSE rumour knowing that TW will tweet the rumour! (aforementioned contact then buys in cheap ahead of the Wressle flow rates)

just curious, why does Wressle need an updated CPR? Is it simply to increase the book value? thx.

not only am I relaxed, I am very optimistic, today's RNS seems to draw a line under the dispute, so apart from a tree shake today/tomorrow, I think we finally have a line in the sand for the sp circa 320p, this company has a very rosy future

this is my post from 3 months ago (see below). if they had made a more realistic provision back in H1, the sp would be recovering by now, instead they drip feed the bad news, that's daft.

" The Board’s best estimate of the cost to replace is up to a maximum of £19.8m..."
"If the resolution of the claim is materially different from the Board’s determination of replacing the product, the
financial statements with regard to revenue and the provision for product warranty could be significantly impacted."

What I find interesting is the potential disconnect between the provision and the worst case scenario alluded to in the RNS, this may explain why the sp is struggling. If there is a possibility that the cost to nyct could be "MATERIALLY DIFFERENT" i.e., greater than the 2020 provision, why haven't they put a number on it?

at first glance the numbers dont stack up, but I assume the previous notification was at a time when there were fewer shares in issue

"An upstream oil & gas investment company that does things differently.
Focused on generating returns through investment in low-risk oil and gas projects with high potential upside."

Laurel & Hardy paid themselves £220k each in 2020 yet they have delivered zero shareholder value, I guess that's what the website means when it says "generating returns"

feel free to sell all your shares, justbe, I am very happy to buy sub 30p

https://oguk.org.uk/product/economic-report/

this is the report the article refers to

it's amazing how much crap disappears when you filter heid, it's a shame she posts so much nonsense because she does sometimes post interesting stuff

'Authorise repurchase of up to 10% of issued share capital'
is this a standard resolution in any AGM or something to look forward to?

I am surprised by the lack of movement but not worried, in fact I'm going to buy some more as this will moving up by the end of the week imo