Member Info for itsawrap

04.03.25 - Union Jack and Reach are currently planning to test a further 3D seismic supported structure which appears very similar to the Moccasin feature. Details of this potentially high-impact well, planned to be drilled in Q2 2025 and funded from the Company's existing cash resources will be announced when confirmed.

I was hoping that DB was referring to Diana but so far it hasn't appeared on the 'Intent to Drill' list on ok.gov, however today...

https://oklahoma.gov/occ/divisions/oil-gas/oil-gas-data.html (select 'Intent to drill - last 7 days'

Young 1-13 in Lincoln County - is this one of ours?

Https://find-and-update.company-information.service.gov.uk/company/11545912

deadline for Finals is 30th June

Sorry - of course I meant to say that if May production was the same as March ie 313 bpd

Brent averaged about $63 in May x 313 x 31 x 4.5% = $27'500 RSA payment (having just received $500k)

Europa received about $145'500 net based on $50 net (guesstimate)

...what a crappy deal for Europa

...even if they have found more funding I have doubts about management's ability to run a successful business - they must sell more product, cut costs and improve transparency (and maybe sack a Director or two) - otherwise they are kicking the bankruptcy can down the road for a few months

Jan 273, Feb 333, Mar 318 bpd

02.10.24 "This contract win takes the potential order book for Celadon up to c.£40.7 million when combined with the Group's £26 million European contract announced in November 2023, and the two UK contracts worth £4.2m announced in May and September 2023. "

...potential orders of £41m, revenue of £63k...it just doesn't make sense so I sold all my shares. The tragedy is, Celdaon could be a successful company with the right funding and proper financial discipline. Someone will pick up the remains for next to nothing...

Elephant Oil ? the list is long

...surely not worse than Reabold?

There's too much uncertainty and too little cash imo so I'm down to just 200k shares - enough to avoid fomo but not enough to lose my shirt

30.06.24 cash & cash equiv. £7.6m

20.08.24 investment in LNe £205k

24.10.24 conversion of loan notes £510k

12.12.24 purchase Rathlin shares £700k

08.05.25 conversion of £500k of undisclosed Loan Notes

other - 11 months G&A - maybe £1m? ...best guess circa £4m cash as of now so mcap tracking cash

Morning Mickey, if I didnt think there was significant upside I wouldn't be invested

"you can't polish a turd but you can roll it in glitter (to fool the shareholders)"

- this saying is in the boardroom of every AIM oiler, some take it more seriously than others

...imo there is a good chance that Kedd and/or Moccasin news will be very good for the sp. my Q3 TP is 14p/15p unless a placing screws us

Still no Finals - possibly tomorrow or Monday or an announcement saying there is a delay

Jabez, let's look at our portfolio...

W-1 producing merrily - no action required by UJO

Penystone - capex required but everything else is in the hands of the operator

WN - capex required but everything else is in the hands of the operator that may not exist in 2 or 3 years

Kedd - capex will be required if Heyco ever drill a side-track (roflmao), everything else is in the hands of an operator that's works at glacial speed

Bisc - capex MAY be required at some point but everything else is in the hands of the operator

NK - back on the table but unlikely to ever happen with an indecisive operator in charge

US Royalties - nothing to do except sit back and relax

US wells - nothing for UJO to do except provide cash

...in summary, UJO is an O&G investment company, they raise cash to invest in O&G opportunities and appear to have little say in what happens or when it happens, eg NK, Kedd side-track, WN & Diana.

So could UJO continue without DB? absolutely, maybe with Crag at the helm either temporarily or permanently.

Absolutely shocking state of affairs - just dumped another 5m as I expect the Finals to be dire - all eyes on cash, maybe £2m left ???

2 Re-election of director : To re-elect David Bramhill as a director of the Company

...say no to his re-election!

Pboo - I refer you to my previous answer

Just to be clear, I said

"I was told I was on a list as someone who might be able to help the investigation but not as a "suspect", so not a rumour imo"

I did NOT say a list of people being investigated.

As I understand it, it was a list of posters who may have been able to help, I am not aware that is was a list of suspects.