Member Info for itsawrap

...keeps the lights on for a few more months

DB

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

...that article feels like part of the charm offensive that Brahmill is starting to roll out, ie pre placing

I guess it's possible this RSA deal is testing the viability of project financing for Penystone but it wont cover all £3.7m capex.

The deal is for gross revenue, at $65 barrel opex is about 20% so $1m gross revenue is only $800k net to EOG .

If I have understood the deal correctly, we could RSA 75% of our 30% of Wressle-1 production for $2.5m cash which sounds great but if our opex is 20% that means 93.75% of our net income each month goes to the counterparty. How would we fund G&A if the $2.5m cash is earmarked for capex?

Perhaps someone could check my logic?

The rns indicates that between "late May" and 19.08.24, A-1 produced 6460 bls

Fantasy vs Reality

19.08.24 RNS - Since being placed on restricted and periodic test production during late May 2024, the Andrews 1-17 well has produced 6,460 barrels of high-quality, ultra-light oil with a gravity of approximately 46 degrees API and 382,000 cubic feet of gas

ok.gov Jun 1550, July 1531, Aug 524

What is your evidence for Moccasin being "massively lower than Andrew's well first produced" ?

Https://oklahoma.gov/occ/divisions/oil-gas/oil-gas-data.html

select 'well completion list - last 7 days'

modify-date = 21.05.25

oil-bbl-per-day = 100 (flowing)

oil-gravity = 32

water-bbl = 0

gas-purchaser = coffeville (no gas sold to date)

first-production = 25.02.25

So according to the official data Moccasin producing 100 bpd as at 21.05.25

...there is a quick and simple fix...vote NO to the constant spin, ramping and lies by the CEO

We should have the 2024 Finals next week,,, cash will be interesting, maybe £3.5m ?

Bearing in mind Bramhill is a world class bullsheeter, you are probably right - April data due next month will tell us more.

Feb 478 + Mar 1625 = 2103 barrels - Does this mean 900 barrels between 01.04.25 and 16.05.25 ?

Finals dated 16.05.25

'Moccasin is currently being evaluated and is on test production, producing at a highly constrained rate of circa 80-100 barrels of oil per day, prior to determining the rate for maximum ultimate oil recovery.'

'To date, over 3,000 barrels of oil have been produced and sold whilst testing.'

Https://va.mite.gov.it/it-IT/Oggetti/Documentazione/10561/15652?pagina=18

2 more docs posted yesterday - one of them shows Frascogna very diplomatically expressing frustration that he's answering the same old questions

VL the point I was making is that the income stream cant extend beyond the end of the PEDL, hence that's the likely "end date". obvious

"...is pleased to announce that it has entered into a Revenue Swap Agreement with a Canadian investment company, whereby Europa will pay an amount equating to 4.5% of the gross revenues resulting from the oil production of the Wressle 1 well to the Investor in consideration for US$500,000, which is paid upfront. The RSA is unsecured and the payments are payable with effect from 1 May 2025."

...my understanding is this is NOT a loan, it's a one off payment for an income stream - just like an annuity. I suspect EOG will pay the counterpart monthly or quarterly. It is odd that the income stream is accruing from 1st May but the "upfront" payment has yet to be paid, I would have expected the $500k on 1st May. I also assume the end date is the same as the PEDL end date - of course if at some point Europa is awash with cash, they may want to buy back the income stream.

Heid I dont wish to be confrontational but you have said you and your family have sold all their shares. Despite having no shares, you are clearly very concerned for the future of UJO so may I suggest you buy some and vote against the re-election of Bramhill?

A-1 gas - Jan 3449, Feb 3287, Mar 2988

A-2 gas - Jan 300, Feb 1647, Mar 1882

Does the RSA have an end date or is it in perpetuity?

Https://www.sviluppocollesanto.it/

new video imagining the site in production - hedges, planters, living walls, the only thing missing is a cafe and a children's playground...bizarre

It would be great if DB secured a loan facility rather than a placing - but that would be a first for him and he does love having cash burning a hole in his pocket to fund his ad hoc investments...like Beacon

Maybe 70m shares at 7p (plus the 6.3m shares in Treasury) gets us to circa £5m net

Https://www.lse.co.uk/media/UJO/what-s-hot-in-the-drought-v2g9oi62g73osui.html