Member Info for itsawrap

Elephant Oil Corp - The Company is the beneficial holder of 56,650 (2023: 56,650) ordinary shares of Elephant Oil Corp, registered in Nevada, United States of America. The principal activity of Elephant Oil Corp is the exploration and evaluation of hydrocarbon assets in West Africa. The value of the unquoted Elephant Oil Corp shares are deemed to be US$2.25 per share and, on this basis, the Company has valued its holding at £101,970 (2023: £100,112). - absolutely hilarious, ELEP is worthless imo (dyor)

Beacon Energy plc - The Company is the beneficial owner of 430,000,000 (2023: 430,000,000) ordinary shares in Beacon Energy plc (“Beacon”),

a company registered in the Isle of Man, which represents a 2.32% (2023: 3.22%) interest in that company at year end. Beacon, under AIM rule is, currently classified as a cash shell. The investment in Beacon was revalued at the year end at 0.0045 pence per share with a total value of £19,350 (2023: £430,000).

- a cracking investment Dave!

HYDROCARBON VENTURES LIMITED - Hydrocarbon Ventures Limited, incorporated on 30 July 2024, is a wholly owned subsidiary of the Company and was dormant in the current and prior periods - what's Bramhill got up his sleeve???

Great news, thx VL

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

...remember folks, the Finals probably went to print 2 or 3 weeks ago, so that 80-100 bpd is probably relevant to the 2nd half of April.

Heid, Kim's calculation includes half of May which is unlikely as the report would have been printed at least 2 or 3 weeks ago.

Moccasin - oil 1624.97 or 52.4 bpd (no gas)

A1 & A2 - currently no data

Taylor - no data

UJOs 2024 account were published today.

Their 1/6 of WN cost £281k in 2024, which means the JV spent circa £1.68m in 2024, that's a very big spend to get nowhere

...that's why we are very lucky to have ok.gov data published monthly. In the next 40 days we will have the March and April data for Moccasin - with a little luck the April data will be available just before the AGM vote, if it is, shareholders can hold him to account if he is playing fast & loose with the truth

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. Permanent production facilities have been installed, comprising oil storage tanks, separator and flowlines and light crude oil with an API of 32 degrees is being sold. To date, over 3,000 barrels of oil have been produced and sold whilst testing.

...this sounds very promising. the March data for Moccasin will be published sometime this month.

At 80 bpd that could be worth circa $50'000 pm for UJO

During 2024, a major upgrade of the site’s production facilities and bund area was undertaken and is planned to reach completion during May 2025. Production from Keddington will be reinstated in the very near future where oil production rates and reliability are anticipated to increase dramatically, especially with early flush production expected

... I like the "increase dramatically" part.

Logically if someone expected poor results they would have sold before the results in which case they have nothing to worry about.

I think the results are quite reasonable although I have concerns about the spend on WN in a year when nothing was achieved (again).

I'm also pleased to see no dividend or bonuses - that would be a mistake

UJO's 1/6 of WN cost £281k in 2024, that means the JV spent circa £1.68m ...how???

Biglad - salaries up? page 66 shows that salaries fell, eg Bramhill £325k down from £398k

ORDINARY RESOLUTIONS

2 Re-election of director

To re-elect David Bramhill as a director of the Company

3 Re-election of director

To re-elect Joseph O’Farrell as a director of the Company

4 Re-election of director

To re-elect Graham Bull as a director of the Company

5 Re-election of director

To re-elect Craig Howie as a director of the Company

Operational Highlights

• Wressle Competent Person's Report ("CPR") upgrades 2P Reserves by 263%

• West Newton Carbon Intensity Study given AA rating by GaffneyCline Associates

• Successful Andrews 1-17 and Andrews 2-17 oil and gas discovery wells in Oklahoma, USA, now in commercial production

• The Taylor 1-16 well in Oklahoma awaiting completion of the Hunton and Cromwell formations

• Commencement of the UK onshore Keddington Oilfield upgrade

• Acquisition of a 45% interest in the Rogers Secondary Recovery Project in Oklahoma, with post balance sheet positive results seen in pressure build up

• Further acquisition of revenue generating Mineral Royalty packages in the Bakken Shale, Permian Basin and Eagle Ford Shale, USA, delivering pleasing returns in excess of 25% on original investment

• Post Balance Sheet date, successful Moccasin 1-13 oil discovery in Oklahoma, now in production from the 1st Wilcox formation with two further oil-bearing formations to be completed

Financial Highlights

• Gross profit of £1,968,101 (2023: £3,298,844)

• Net profit of £649,213 (2023: £859,089)

• Basic earnings per share 0.61 pence (2023: 0.79 pence)

• Oil and gas revenues £3,929,722 (2023: £5,065,679)

• The Company continues to be debt free

I have no doubt that the Finals - which may be out tomorrow - will be a masterclass in spin and ramping.

If I'm right, Bramhill is up for re-election ...I urge all shareholders to carefully consider if he is fit for purpose.

20.05.24 Finals

"I am confident that the significant increase in drilling, appraisal and development activity now planned in the pursuit of growth from our balanced UK and USA portfolios has the potential for significant value creation for shareholders. We believe our heightened activity and the expected additional news-flow generated, combined with effective investor engagement on both sides of the Atlantic, will continue to attract the ongoing support of our existing shareholders and the attention of new investors, broadening the appeal of the Company to a wider audience."

20.05.24 sp was 22.75p and 1 year later the sp is 9.25p ...that's a drop of 59% in 12 months

Is Bramhill the right man to lead UJO? ..I say no

Uggy I honestly dont know as that would require the translation of countless very long documents - the anti brigade do seem to be chipping away again and again at LNe's submissions, surely VIA has to draw a line under the to and fro soon? I'm still hopeful CS will go ahead but not as confident as I was so I have sold 3/4 of my shares. Every month that passes means more cash-burn, plus of course we have extraordinary events like the conversion of a Loan Note that NONE OF US KNEW EXISTED! Reabold is without doubt the epitome of an AIM lifestyle company.

If WN has to be returned to farmland, the company will be on the hook for a lot of money which will imo, mean that RBD will no longer be a going concern.

The Moccasin data for the full month of March will be available in the next 2 weeks. DB's RNS said "equates to 621 bpd", his tweet said "producing 621 bpd", obviously the tweet was a lie but whatever the number it should be a lot more than Andrews & Taylor combined

Also 3 docs on page 8 dated 29.04.25, 2 on page 9 (22.04.25) and one on page 10 (14.05.25)

Uggy you recently asked what additional info was required - this may be it

https://va.mite.gov.it/it-IT/Oggetti/Documentazione/10561/15652?pagina=7

page 7 - huge document dated 29.04.25

Https://va.mite.gov.it/it-IT/Oggetti/Documentazione/10561/15652?pagina=10

2nd document