Member Info for itsawrap

Still happy with your investment gwynwyn? still happy with the extraordinary successes in the US? still happy with the amazing Bramhill?

Calculating fair value is difficult (and subjective) - pre RNS the mcap of £7.5m imo included circa £2m cash based on year-end + revenue less G&A, basically cash-burn was ahead of revenue so imo ujo was overvalued. The fact that a placing was required so soon, suggests to me that my £2m cash estimate was too high, so what are they spending the money on? Assume pre RNS cash was £1m - plus £2m new cash but that's clearly earmarked for Reach capex.

So what's UJO "worth"? assuming £2m cash going to Reach and £1m cash left, I think short-term UJO is worth no more than 4p-5p unless revenue significantly increases. I suspect May production for Wressle will be 270 bpd or less, falling to 240/250 by year end. I'm hoping that Moccasin and Kedd will pick up the slack but I'm doubtful

Counter-arguments to the JRC-EIA opinion of the Abruzzo Region

https://va.mite.gov.it/it-IT/Oggetti/Documentazione/10561/15652?pagina=13

LNe response to a very late submission

My advn post from 21/07

the problem UJO has is that even if May data shows 100 bpd for Moccasin, it wont do much for the sp as we all know that production falls faster than a hookers panties. Bramhill will keep throwing money at Reach until he finally realises they have him bent over the desk or we run out of money - my guess is the latter

Heid I knew a placing was a near certainty in H2 but I expected it to be preceded by a flurry of bullcrap interviews so I was caught napping : (

You're right, we wont win the vote, Bramhill has 40m yes votes locked in

btw re-issuing the Treasury shares at 5p would have raised £315'000 or £441'000 at 7p

...there is so much wrong about this placing.

Why haven't the 6.3m Treasury shares been included in the placing?

Why, when Bramhill has said that our Reach assets our performing really well, he cant fund new ventures from the huge profits? (Is he lying?)

Why did he not secure a £2m loan facility instead of crashing the sp again?

Why did he not offer shareholders a rights issue when the sp was closer to 9p?

Why are the placing shares being included from 29/07 which means Bramhill is guaranteed 40m votes at the GM to pass the warrants resolution?

This may be legal but it certainly isnt fair!

In order to issue the Fundraise Warrants, the Company is preparing a Notice of General Meeting (the "Notice") to seek authority to disapply pre-emption rights of the Fundraise Warrants. The General Meeting date will be communicated to shareholders in the coming days and a further announcement will be made when the Notice has been sent to shareholders.

...let's all vote NO to the warrants and send a big FCUK YOU to Bramhill

Carrott I will offer an apology, you got it right but you posted on 2 previous occasions that placings were underway and they didnt happen, I guess 1 out 3 isnt bad

Biglad, Bramhill isnt up for re-election for another 3 years - several of us on here and advn tried to rally support to vote him out but our efforts were in vain...now we are all paying the price for Bramhill's endless gambling on stripper wells...

Heid pls post the link, thanks.

As I understand it, the Sarah Finch challenge was that UK O&G should take into account Scope 3 emissions, not just emissions from extraction. What that decision fails to address (imo) is the 'level playing field' argument, i.e., if we have to consider Scope 3 for domestic O&G, we should also consider it for imported O&G.

As we have exceptionally high environmental standards and imported O&G has a much higher footprint, the logical conclusion should be that domestic O&G should be embraced not eliminated. Yet the UK has come to the polar opposite conclusion...

Evidence?

Https://www.eia.gov/dnav/ng/hist/n3035ok3m.htm

the price of gas varies enormously in OK, Apr was $4.15, May not yet available

A-1 gas 4772 & A-2 gas 1536 (both up over April)

no oil data posted so far

It didnt take long to find carrot's posts - dont believe a word he says

from 04.01.25

"They are just finalising the placing now, apparently oversubscribed, £2,500,000 at 7p. Maybe they could have tried for a bit higher."

and 02.01.25

"Rumours circulating on telegram of an accelerated bookbuild taking place at 7p a share for working capital."

ignore carrot13, in january he claimed that there was a £2.5m bookbuild, on another occasion he said there was a bookbuild on telegram, he is full of ****e

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

the last few notifications show that RBD is firmly in control and cutting the dead wood, let's hope the WN decision is positive, 6 months is unreasonable imo

As I predicted well over a year ago, Reabold is happy to let Rathlin wither and die so the assets can be acquired for very little. RBD owns 79% and now considers Rathlin a subsidiary (Finals). Recent changes showing on companies house prove RBD is very much in control.

Imo the sp keep falling because investors are aware that Reach capex if far outstripping revenue and all Bramhill's claims are pure fantasy. Moccasin looks good but is likely to fall off as quickly as Andrews. The Royalties are doing quite well and Kedd is back in production but once again investors wont believe anything DB says until we have 3 or 4 months NSTA data. the Q2 2025 drill never happened and hasnt been mentioned again, Diana has been put on the back burner by Reach because Bramhill stupidly took 75% - they have our cash, why hurry? Meanwhile cash is draining faster than revenue so the business model is not sustainable without a placing, especially if Penystone is in play.

Just imagine how much more bullcrap we would be getting if we didn't have ok.gov data?

Again and again Bramhill misleads investors yet the majority voted to keep him in place despite the sp falling month after month for almost 3 years...