Member Info for itsawrap

Click on 'options' then 'export' for a spreadsheet with all the data, column M is in bpd

Hi pboo I didn't convert anything, I took the data straight from the nsta download as I always do

Kedd 23.4 bpd

436.2 bpd for April

I suspect there will be a combo of significant debt restructuring alongside a debt for equity exchange - perhaps up to 11.5bn new shares, quickly followed by or simultaneous with, a 300:1 share consolidation. something along those lines

Https://unionjackoil.com/wp-content/uploads/2024/06/UJO-NA-Corporate-Pres.pdf

Bramhill February 2024 "Similar low-cost development wells nearby, typically produce initially at approximately 150 barrels of oil and over 200 thousand cubic feet of gas per day and can provide rapid pay-back within six months."

as I have said before, Bramhill has set the benchmark at 150bpd so logically a "major" success should be considerably more...however words are cheap, especially when spoken or written by Bramhill

An AGM Resolution to buy back shares is fairly standard - it doesn't infer intention, it simply gives the company the option

Micky, one more thing that may give the sp a lift (or not) - EDR said they expected a planning decision by the end of June, that seems unlikely but an answer could be forthcoming soon as it is a delegated item

Morning micky, April data for wressle out on monday, March was 510bpd so imo the next move will depend on the new number, circa 500bpd is good news, if it has dopped significantly I expect the sp to follow. Q1 data was released 17/04 so Q2 data likely due mid July, hopefully with some transparency on our US investments. sp going ex div next week

Perhaps someone can ask Bramhill why he hasnt had the courtesy to explain to shareholders why Kedd wasn't side-tracked last year? ditto why the side-track appears to be off the table?

Uggy, it's all about the gravy train...if we are very lucky either CS will get all permissions or WN will actually be progressed before they drain all the company cash in salaries & bonuses. I'm hoping for a spike in the next few months so I can sell and run for the hills

"In February 2023, investors voted to support a capital reduction and share buyback programme. The capital reduction was approved at the High Court of Justice in March 2023 and a buyback programme of up to £750,000 was announced in April 2023, as part of a proposed £4.0 million return of excess cash to shareholders."

imo RBD lied about returning £4m to shareholders and they lied about funding for Rathlin. Why would anyone invest in WN when RBD has not announced any help for Rathlin despite having a lot of cash?

...the answer to all these questions is simple...gravy-train

Despite strongly suggesting that they would fund Rathlin once the final tranche of the £12.7m was forthcoming, they have failed to do so. If WN was such a sure thing, why did they not do what they said? ...for me the answer if obvious

Imo the loan demonstrates cash-burn is out of control, it also means LNe has got Reabold by the balls, every time they need a handout RBD has no choice but to bail them out...no wonder shareholders aren't getting the long promised £4m.

LNe transferred over 400m RBD shares to their Directors, so the 260m sale could be LNe selling for much needed cash or it could be their Directors cashing in (under the TR1 threshold). I still believe CS has a good chance of success but I also believe Lne has out-played our two jokers

Just for you Jack...

Loan to LNEnergy

On 26 March 2024, Reabold provided LNEnergy with a £0.5 million interest-bearing loan facility. LNEnergy had drawn down the full facility as at the date of publication of this report. The interest-bearing loan with LNEnergy has interest charged at the Bank of England's base rate plus 0.75% and has a maturity date of 25 September 2024. The loan includes a clause that allows Reabold to convert the loan into ordinary shares of LNEnergy at maturity.

A big dump of 260m shares - I wonder if that is LNe raising capital?

"HOA signed with a potential prepayment of circa 30m of which RBD is due 26.1£ from Gunvor who are one of the world's largest commodity trading houses"

"of which RBD is due 26.1£ from Gunvor " ...absolute rubbish!

We will have the nsta data for April a week on Monday, it will be interesting to see if Wressle continues above 500bpd

"live stream" which was stuck on 27/05 for 3 weeks is now showing 20/06 - not very exciting until you see that the wellheads have been caged - I believe that's new? https://www.sviluppocollesanto.it/