Member Info for itsawrap

Https://find-and-update.company-information.service.gov.uk/company/12192744/filing-history

2024 accounts filed - post period comments could be interesting

2024 Finals available shortly - hopefully it will shed some light on our JVs

https://find-and-update.company-information.service.gov.uk/company/06409716/filing-history

Miln the latest QCA (Quoted Companies Alliance) Code 2023 states that “all directors should submit themselves for election / re-election on an annual basis" so I believe we will get another chance to vote him out next June despite the UJO Articles of Assoc which require re-election every 3 years.

Unfortunately Bramhill's reckless investments in stripper wells mean that the company is in poor financial shape (despite what DB says) and that's before any cash calls for WN or Wressle capex...troubled waters ahead imo

Keddington - 35.3 bpd (slightly up from June 33.1 bpd)

Wressle - 231.2 bpd (down from 266 bpd in June)

Cash position at 30 June 2025 was £23.7m, and the Group remains debt free. Cash at the end of August 2025 was £22.5m

...cashburn for July/Aug was £1.2m so £0.6m pm, not great but better than £1m pm

Gwywin, throwing millions at Oklahoma strippers and getting back "10 cents on the dollar" in the hope of hitting the big one, is not investing, it's gambling. The promised H2 trio of drills (now 2 drills in H2), is unlikely to be any different to the first 4 drills, very limited success and simply not worth it. At least we dont have to worry about any more Reach jv's, we simply dont have the cash so our Oklahoma dream is almost at an end (thank goodness)

Heid tomorrow we will have July nsta data for wressle & kedd, plus we know that Moccasin production for Jul & Aug was about 3300 barrels (11000-7711), we also know Royalties revenue in H1 was £69k, Taylor is a bust and Andrews' are insignificant. Using all this information and a month's downtime for Wressle we should be able to predict approximate revenue for H2. I'll let you know what I come up with - it wont be pretty!

Https://find-and-update.company-information.service.gov.uk/company/06478035/filing-history

see page 4 for RBD/Rathlin loan details

Rathlin's 2024 accounts state that RBD & Rathlin executed "a short term debt facility" on 30.04.25 under which RBD will lend up to £2.5m to Rathlin.

I have had a quick look but I cant see any reference to this loan in RBD's Interims. If it has been repaid that means Rathlin has successfully sourced a "longer-term corporate financing solution". If it hasn't been repaid, where is it reflected in RBD's accounts?

Reabold anticipates re-entering and recompleting an existing West Newton well in Q1 2026 in order to establish sustained gas flow. The gross cost to re-enter and re-complete is expected to be c.£1.4 million (c.£1.2 million net cost for the consolidated Group).

...so our 1/6 should be about £235k ( we could pay our share if Bramhill and Co take pay cuts )

Re WN

As part of the work programme for PEDL 183, the JV is required to re-enter and recomplete or sidetrack one of the currently suspended wells on or before 30 June 2026. The JV partnership for PEDL 183 plans to re-enter and recomplete the West Newton A-2 well in order to establish sustained gas flow. The JV partnership believes this is a low risk and low cost approach to derisk the project. For the recompletion of the West Newton A-2 well to proceed, Rathlin is required to obtain the NSTA's consent and receive a permit from the Environment Agency ("EA"). In July 2025, the EA issued a draft permit and its decision document for the public to view and comment upon. The consultation will run until 6 October 2025.

The JV expects to commence operations in Q1 2026.

"there is nothing that we dont already know." complete bollux

- we dont know why the warrants resolution was withdrawn

- we dont know why Bramhill keeps saying Taylor oil has been sold but ok.gov shows no sales

- we dont know why Diana was due to be drilled in in Q3 2024 then Q4 2024, then dropped off the radar

- we dont know why the RNS of 23.07.25 said Union Jack "remains profitable" but H1 reported a net loss £489,674

- we dont know why 6.3m Treasury shares were excluded from the placing

- we dont know what Bramhill is going to do in 3 or 4 months when we run out of money

- we dont know how we will fund our share of Penystone or WN

- we dont know why the company is NOT cutting costs

- we dont know why ELEP has a book value of over £100k when it's bust

- we dont know how long Wressle will be off-line for upgrades

3p would mean an mcap of £4.5m which may be generous considering we could be looking at a full year loss of £1m and no cash in the bank and no way to top-up, this is a disaster and there's only one person responsible...

Moccasin - 'To date, over 11,000 barrels of oil have been produced'

according to ok.gov 7'711 barrels were sold to the end of June, so it's likely the "to date" is 31/08 which gives an average of 53 bpd over 62 days for July and August. Moccasin July data is imminent

Unfortunately there is nothing in the Interims to indicate that cost-cutting is underway or even being considered.

The fat-cat is going to milk the cash-cow to the last drop...

DB owns just 716,646 shares or 0.47% of the shares in issue - this doesn't come close to reflecting all the ramping in the RNSs.

Bramhill, if you believe your own words, put your money where your mouth is, invest in the company you endlessly ramp.

Poor H1 with H2 likely to be worse due to significant downtime at Wressle - I guess beerhunter is wearing beer-googles

UJO could run out of cash within 6 months imo - time for Dave "the stripper" Bramhill to take a big pay cut

Royalty income not too bad, only slightly down on H2

2024 H1 - £120'268

2024 H2 - £ 76'469

2025 H1 - £ 69'438

Https://find-and-update.company-information.service.gov.uk/company/13650179/filing-history

"My view is that she is another geologist-turned-CEO who inspires initial optimism but lacks the financial toolkit to steer HE1 out of this dilution spiral."

well said, a bit like a chef who thinks he can be a great restauranteur because he can cook