Member Info for itsawrap

Well said pboo. I want transparency and timeliness from UJO, not spin, ramping and half-truths

Https://drillordrop.com/2024/10/03/lincolnshire-update-appeals-and-award/

It's a nice idea but who is going to believe anything Bramhill says in an interview?

RBD has spent £2.1m cash on LNe shares (plus a billion RBD shares) as well as a £0.5m loan which I doubt was repaid on 26.09, so what has LNe spent almost £2.6m on...admin??? It's a huge amount of money to apply for permits!

...clearly it's not world class PR

New document dated 30.09.24 - could this be the final step before a decision???

**Deadline for submission of Public Comments on republication: 15/10/2024**

Ministry of the Environment and Energy Security

GENERAL DIRECTORATE FOR ENVIRONMENTAL ASSESSMENTS

NOTICE TO THE PUBLIC

PUBLICATION OF ADDITIONS START OF NEW CONSULTATION

Within the deadline indicated in art.24 paragraph 5 of Legislative Decree 152/2006, anyone interested may view the additions to the project and the related environmental study, as well as submit their observations in writing, also providing new or additional information and assessment elements, addressing them to the Ministry of the Environment and Energy Security, General Directorate for Environmental Assessments, via C. Colombo 44, 00147 Rome. The submission of observations can be done through the web application for the online submission of observations for the SEA, VIA and AIA procedures, accessible from the Environmental Assessments and Authorizations Portal at the link

https://va.mite.gov.it/it

IT/ps/Procedure/InvioOsservazioni and also by certified email to the following address: va@pec.mite.gov.it

All the information on the procedure is available on the web page relating to the project.

Cash and cash equivalents £3.15m as at 30.06.24

...not enough to cover capex commitments for 2025

... which is why the sp is falling, that and the unsubstantiated ramping by Bramhill

VL that would be fantastic, unfortunately when it comes to Egdon I am very much in the "I'll believe it when I see it" camp and even then I'll check the small print

Who is "the gang" and what do you see as their "agenda"?

Https://unionjackoil.com/wp-content/uploads/2022/09/UJO-Reserve-Report-Final.pdf

the GC report predicted 275 bpd for 2024 - av. so far about 450 bpd, that's way above their forecast

Hopefully Wressle will continue producing mid/high 300's until the 2 new wells are drilled although that could be 18-24 months away (obviously depending on Egdon prioritising it, they have a lot going on so it's not guaranteed to be a priority imo)

Mar 511 bpd, Apr 436 bpd, May 383 bpd, Jun 356 bpd,

July 390 bpd

- Wressle has averaged about 450 bpd per month for 7 months, well above GC's prediction of 275 bpd for 2024

- planning has been granted for expanding Wressle with 2 additional wells

- 2 wells in production stateside with 3 drills planned

- Royalties apparently paying monthly

- Kedd should be back producing at a higher level in the coming months (fingers crossed)

- DB has no control over poo

...but you are right, revenue is critical, it's interesting that sidoti has predicted £2.8m revenue for H2, I calculate H2 revenue will be at least £0.5m short of their calculation

Mar 511 bpd, Apr 436 bpd, May 383 bpd, Jun 356 bpd,

July 390 bpd

Https://find-and-update.company-information.service.gov.uk/company/13650179/filing-history

2023 accounts for LNenergy Ltd posted

I seem to recall about 4 or 5 weeks before the last placing he stated in an interview "fully funded, no placing", the guy has form when it comes to being truthful (or not)

Heid it's obvious to me that UJO cannot cover all its commitments without raising funds - principally c. £5m for Wressle. They may use the Treasury shares and/or they may secure a loan facility. However Bramhill loves going to the market so I see a placing being the main source of funding sometime in the next few months, possibly before year-end.

Perhaps someone could ask DB to comment on X :)

Well to be fair to them, they could have continued promising bisc/kedd/wn were all just around the corner while taking a paycheck. Instead they have diversified into the US with 2 wells declared commercial and another 3 due to be dilled in Q4, plus a portfolio of Royalties. Transparency is in short supply but that should change over the coming months.

Here's the trend for Wressle - Mar 511 bpd, Apr 436 bpd, May 383 bpd, Jun 356 bpd,

anyone care to guess what the number will be for July tomorrow? 340-350 perhaps?

You're correct, it was extended to 31.12 but gov.uk indicates it's due by tomorrow which I believe is standard for accounts ending 31 Dec.

Just fund this in the Interims

Cash flow from investing activities was an inflow of £3.7 million compared to an outflow of £1.5 million in the same period in 2023. The inflow included divestment proceeds of £4.4 million received as part of the deferred consideration from the sale of Corallian to Shell in 2022, offset by the purchase of £0.5 million of loan notes from LNEnergy Limited, as well as £0.2 million of expenditure at West Newton.