Member Info for itsawrap

Obviously bigeye will as he's a big fan(nie)

...the sad truth is that Bramhill doesn't need UJO to succeed, he simply needs it to exist to keep drawing his outrageous salary

Will Bramhill retire soon? I doubt it, he will milk every last drop out of this company. Brent falling actually works in his favour because it means the Kedd side-track remains uneconomic as does the Penystone development so he can continue as normal without having to raise millions

2025 full year revenue will be grim as is a likely circa £1.3m full year loss, grim grim grim...yet the fat-cat gets fatter

Financially strong??? ongoing capex for WN, NK, Bisc and the current Wressle upgrades, falling revenue especially taking into consideration major downtime for Wressle in Q3. imo UJO is very low on cash ...the fat-cat's reckless gambles in OK are killing this company

Don't forget to vote but when you do please remember that this Special Resolution is exceptionally generous to placing participants.

- placing share sold get 1 warrant

- placing shares held get 1.25 warrants

- regular shareholders get just 0.25 warrants per share

A weakening oil price makes the cash dilemma more acute. Our liquid assets are few imo, maybe the Royalties are the best bet for a quick sale or an RSA on Wressle like Europa (I hope not). Egdon's 2024 accounts were released earlier this month, they show a loss of £3.8m so I doubt Heyco will buyback any of our JVs. So what's left? a loan facility looks likely.

Tick tock Bramhill ...your days are numbered.

You're out at the June AGM after incredible incompetence, even diehard shareholders won't support you after this placing debacle

30.06.25 Cash and cash equivalents £1,414,149

Fundraise £2m gross probably £1.75m net

Wressle offline for big part of Q3

Outgoings - $3m for latest gambles in OK, £50k pm on salaries, unknown capex for Bisc & NK & WN

..the fat-cat has a problem, out of cash within 3 months or maybe even by Christmas???

I'm surprised by how well the sp is holding up, I was expecting the low 30s by Xmas so I sold my (modest) holding. Perhaps people can see a glimmer of hope in the results, ie cashburn not as bad as earlier this year and revenue holding steady

I remember an interview a few years ago, Bramhill said he was going to make UJO a £100m company "I've done it before" he claimed

...only £93m to go

I'm voting against the special resolution because it unfairly rewards placing participants over regular shareholders

- placing shares sold get 1 warrant

- placing shares held get 1.25 warrants

- the rest of us get 0.25 of a warrant for each share

This is incredibly unfair to shareholders who weren't given a chance to participate, a rights issue would have been fairer and more cost effective and would have raised the approx. £1.8m net that the placing raised

However the elephant in the room is that UJO needs cash sooner rather than later due to falling revenue, ongoing costs from NK & Bisc, Q1 capex for WN and possible capex for Penystone next year...plus of course the big fat salary for the fat-cat who appears to be making no effort to cut costs.

"Management and shareholders alike deserve such rewards, UJO is in great shape in the UK and the US " - what complete crap

ujo have a looming cash crisis in the next few months due to falling revenue, capex requirements and zero evidence of cost cutting

Q3/H2 revenue significantly down due to downtime at Wressle, weakening poo, a disappointing 35 bpd at Kedd, Moccasin falling off - possibly as low as 50 bpd already, Andrews laughable, Taylor non existent, Diana fallen off the radar, and last but not least, unjustifiable salaries

malcy needs to wake up and smell the Slimfast

Proposed authority to disapply pre-emption rights in connection with the issue of 40,000,000 Fundraise Warrants and up to 36,641,474 Bonus Warrants to subscribe in aggregate for up to 76,641,474 ordinary shares

- there are 146m shares in issue (ex Treasury), the 146m includes the 40m placing shares.

- these 146m shares will be entitled to 1 warrant for every 4 shares (36.6m warrants)

- the placing participants will receive 40m warrants

- so any placing shares still owned by placing participants will receive 1 warrant per share plus 1 warrant per 4 shares, i.e. 1.25 warrants per share

- I estimate that most (maybe 30m based on daily volumes) placing shares are still in the hands of the participants

It would be much fairer if all 146m shares were granted warrants on a 1 for 2 basis, ie 73m warrants

Sark appears to be another Taylor, lots of costs and Plan B's but no oil. Curiously Bramhill stated in the Interims "The Cromwell was perforated and returned

oil which has been sold to market. " which is not confirmed by ok.gov so the amount must be tiny.

Antler accounts now visible

This deal means RBD puts up £750k cash for the BCE placing in the hope that CS is granted permission and that BCE raises the cash required to bring it into production - if RBD is so confident in the gas flowing, why sell our stake in LNe?

UJO interims

KEDDINGTON OILFIELD - PEDL005(R) (55%)

The Keddington Oilfield is located along the highly prospective East Barkwith Ridge, an east-west structural high on the southern margin of the Humber Basin. During 2024 and the early part of 2025, a major upgrade of the site's production infrastructure was undertaken. Production recommenced during June 2025 and to date, over 3,000 barrels of high-quality oil have been produced and sold from Keddington. The newly installed equipment and facilities are working well and continue to be fine-tuned to optimise production. A technical review by the Operator has confirmed that there remains an undrained oil resource located on the eastern side of the Keddington field. Planning consent for further drilling is already in place, presenting an opportunity to increase production via a development side-track from one of the existing wells. To facilitate confirmation of the target definition and well design planning, re-processing of legacy 3D seismic data has been completed. The Operator's modelling indicates that infill drilling is forecast to improve recovery from the Keddington field by between 113,000 to 183,000 barrels of oil, depending on the reservoir permeability model selected and the combination of infill targets.

The sub-surface target of a step-out well has been identified and it is planned to drill the well, where planning consent is already granted, when macro-economic conditions are favourable.

Impairment of £649k re Keddington "The Keddington 6 well is not an immediate priority for investment for the group, so to be prudent, the NPV has been calculated assuming no further action for improvement will be made." - does this refer to upgrades which did in fact take place this summer, or does this mean the side-track has been cancelled?

Having followed Colle Santo closely since RBD first got involved I would recommend people look beyond today's RNS to understand what's promised, what's possible and what's likely... and why RBD is selling a hugely ramped asset when funding has been agreed in principle with Gunvor