Member Info for itsawrap

Bramhill is up for re-election in June (assuming he stands which I doubt), whether he stands or not, I suspect he will be history in Q2

UJO has its issues but it also has 3 good producing assets - Wressle, Keddington and Moccasin.

What we really need is for Reach to pull its finger out and drill Diana, Crossroads and Wolverine.

Unfortunately Bramhill has never had the courtesy to explain why Diana hasn't been drilled after 21 months and the Kedd side-track hasn't been drilled after several years.

We also need an update on the Taylor foam intervention planned for Q1 which has now passed.

I would also like UJO to give (meaningful) quarterly trading updates, atm we get H1 in Sept and Finals in May, not exactly the transparency they promise in the accounts every year!

I'm surprised Directors could buy shares, surely with the Finals dues this month they are in a closed period?

Heid, it's my understanding that WN still requires permission from the NSTA to proceed. Best guess - sometime in Q2 RBD/Rathlin will state that they have requested an extension to the 30/06 deadline as they are still waiting for NSTA permission

"The other well, the Diana-1, designed to test a Wilzetta Fault play, will be drilled during Q3 2024" - FAIL

"Wolverine-1 is planned to be spudded during Q4 2025" - FAIL

"The Crossroads well, planned to be spudded in Q4 2025 will penetrate a large 100 acre structure in the prolific Oil Creek Sand" - FAIL

"The Crossroads well, following regulatory delays, is now scheduled to be drilled in Q1 2026" - FAIL ?

Anyone know which platforms are allowing buys? thx

3rd Feb swampy said

"Wrap..what. makes you think the paperwork isnt already set up and ready to go ? Your really not that clever are you lol"

...swampy, I guess the WN paperwork was not "ready to go" as it's almost 2 months later.

"But natural gas at a stranded wellhead, with no pipeline and no alternative buyer, sits outside the market entirely."

...WN does not fit the definition of stranded gas (no gas has ever flowed) plus the plan has ALWAYS been gas to grid so there is also a longstanding plan for a pipeline. Gas to Bitcon (sic) has always been a ruse to raise money - which is exactly what has happened. I am convinced gas to grid is a better plan - cheaper and faster to production

Diana non existent, Sark duster, Taylor possible duster, Andrews hardly worth mentioning - the way our OK portfolio is going, UJO will end up with more dusters than a French maid

Was that £1 per share or £1 mcap? ...unless we get some good news soon the latter seems more likely

"Tell us more about ujo" ok : )

Bramhill said Sark Crossroads and Wolverine would be drilled in Q4. only Sark was (duster)

Bramhill said Crossroads would be drilled in Q1 - with 1 week to go it appears Crossroads has yet to be granted a permit

Bramhill said Diana would be drilled in Q3 2024 - it wasn't. Then he said Q4 2024 - it wasn't. Currently no permit to drill.

Where is the due diligence?

"In. May their results come out and they are going to be huge revenue and profit."

imo 2025 revenue will be circa £2.3m and a loss of £6m - £6.5m due to writing off the Biscathorpe investment.

"Full Production Concession award expected in mid 2026" too optimistic, more likely H1 2027 so first gas well into 2028 - all imo

https://tradingeconomics.com/commodity/eu-natural-gas

Moccasin - Dec 1'638. Jan 1'150

A-1 - Dec 2912, Jan 2703

A-2 - Dec 708, Jan 630

"then there's no reason why they shouldn't have the rig booked for May/June" my mistake, there is one outstanding, that's the NSTA permit

Well I'm back in as I see some good upside. Yes 12/05 is key but that still leaves 7 weeks until the 30/06 deadline to start work at WN-2. Assuming they are very confident of securing all the financing, then there's no reason why they shouldn't have the rig booked for May/June plus Rathlin said "The proposed operation at West Newton is a smaller scale operation and will take less than an hour to complete. "

It's fairly easy to work it out. Brent averaged about $70 during the 12 months until the end of Jan. At $110 that's an extra $40 x 150 x 30 = $180k pm

An extra £135k pm is very welcome but revenue is only one side of the equation, UJO has significant cash-burn too.

Moccasin - Dec 1'638. Jan 1'150

GP would 500,000 cu. ft /day justify a server farm? even if it does, how do they prove that it can be sustained long enough for the cost of a server farm to be justified? It feels like a Hail Mary to me, the big surprise is how they managed to get Rohan Oza to invest more!

I'm not sure what you mean by mineral revenue?

wrt to WN. Reabold/Rathlin have a 30.06.26 NSTA deadline to make progress, they plan to re-enter WN-2 and use a proppant squeeze to get the gas flowing. If they succeed it will be good for the sp although further capex will be required to develop the site. RBD has dreams of gas-to-Bitcoin which is unlikely imo - I think they should stick to the original plan of gas to grid, it will be quicker and cheaper to realise. I suspect the Bitcoin dream is to get new money onboard - which is exactly what was recently announced.