Member Info for itsawrap

I'm no fan of Bramhill but that's a ridiculous accusation

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

Only 4 weeks until the option expires so not long to find out if the rumour is true or not

Number6 I agree that the TW comments about going bust are rubbish, however, how can UJO cover £5m capex for Wressle and £2.2m for WN from current cash and falling revenue?

Https://drillordrop.com/2025/01/02/uk-onshore-oil-and-gas-production-in-figures-and-charts-october-2024/

Wressle has dropped from 2nd place to 4th place, if the EOG comment is correct it will drop down to 5th place in Nov/dec

Yes sp in the toilet but undervalued? maybe, maybe not. ujo probably has circa £3m cash with capex likely this year for WN, possibly Wressle too. Overall revenue is declining significantly despite 2 wells in the US - hopefully Kedd, Taylor and Moccasin will reverse that but I see 2025 revenue as £3m at best. Most of that £3m cash and £3m revenue will be gobbled up by G&A, excessive salaries and capex. I'm cautiously optimistic but UJO has some serious headwinds cash-wise which can only be addressed through a placing or loan facility. all imo of course

In case you missed my post last night

..some good news, Moccasin in the 'Intent to drill - last 7 days' list

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

Whilst I believe a placing is a near certainty later in the year, I'm not convinced one is imminent.

If there is to be a placing imminently, I assume the 6.3m shares held in Treasury will be re-issued - worth £441k at 7p

If ujo needs - say £5m - that's about 65m new shares plus Treasury shares - a massive dilution

JP based on Europa's capex estimate for their share of Wressle expansion, UJO will need £5m. imo we only have £3.5m at best, probably significantly less. So Bramhill will raise based on the "better to have it and not need it, than need it and not have it" principle. If Wressle expansion dies (just like Bisc), he will no doubt splash the cash in the US and on equity stakes in other oilers like Beacon etc. He doesn't care, it's not his money he's risking!

...some good news, Moccasin on in the 'Intent to drill - last 7 days' list on

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

If we have the opportunity at the AGM, I will vote against Bramhill continuing as CEO, he's become a major part of the problem - always over-promising and under-delivering, incessant & unjustified ramping in many RNSs, lack of transparency & timeliness...and finally, hugely overpaid, Pinocchio needs to go!

October data available

July 96 bpd, Aug 79 bpd, Sep 149 bpd, Oct 196 bpd

..October was a good month, any particular reason?

Wressle

Jan 609, Feb 468, Mar 511, Apr 436, May 383, Jun 356, Jul 390, Aug 382, Sep 371, Oct 310 bpd

Nov/Dec 250 bpd according to EOG video (poo slightly up)

H1 revenue was GBP 2.339m

Sidoti estimate for H2 is GBP 2.845m (total for 2024 GBP 5.184m)

imo Wressle revenue in H2 will be about US$1.8m plus maybe US$200k from the US, or about GBP 1.6m

Heid, what really bugs me is the fact that the ONLY uk asset with permission to drill (Kedd) is NOT being drilled...wtf Bramhill?

Jan 609, Feb 468, Mar 511, Apr 436, May 383, Jun 356, Jul 390, Aug 382, Sep 371, Oct 310

Nov/Dec 250 bpd according to EOG video

31.12.22 - sp 27.2p, 31.12.23 - sp 19.75p, 31.12.24 - sp 9.25p

Just over 4 weeks until the option expires...

Unfortunately the sp is going to continue drifting lower until we have a decent update from Pinocchio

...and what's your opinion?