Member Info for Mirasol

Boy it took the team quite a while to write that missive from Heid - almost reads like an RNS..........

Nothing about her songs, her cooking , her holidays in the Bahamas paid for by UJO shares..

You'd almost believe it was written by someone else..

"West Newton was originally about gas find and now we have oil. "

But we don't Heid - it never produced "measurable flow of hydrocarbons has not yet been achieved" according to the people who actually were doing the testing

"Surely now that this current placing has been disclosed, he won't go through with it, "

i f he suspects that WN isn't going to be good he'll go for as much as he can as soon as he can

HH doesn't produce enough gas to support gas to wire never mind a grid connection

"If you think that the OGA want to see onshore oil and gas disappear, please explain why new licences are issued?"

As pointed out they haven't had an Onshore Licensing Round in ages.

My understanding is that when asked they say they might consider it when all the 14th Round work programmes are complete. In the meantime they are tightening the screws on people to relinquish or perform

"you ought to have a conversation with DB and hear what sort of bloke he really is."

we know - a guy who runs a company that leaks like a sieve

" why do you and Mirasol keep copy and pasting peoples post?"

because Adrian your memory seems to be going - you've pumped HH, you've poured brown stuff all over SS and HH, now you're back pumping again

I think you need to be reminded of what you've said ......

"The OGA are on the oil companies side. They want oil companies to extract as much oil and gas from wells in the UK as possible. "

Only offshore - they always are embarrassed by the onshore

It causes them a load of grief - dodgy operators, loads of pressure from MP's and the public for a few measly barrels (outside of Wytch Farm).

Their press releases and reports rarely mention onshore at all

They'd be more than happy to see it all disappear quietly

"Why would Cambridge petroleum sell 2.5% of a Royalty so cheaply?"

CP have been in the Royalty business for years - it is low risk and it is low reward but it brings certainty. I'd guess they've ben sitting on some of the Claymore/Piper royalties for years. Oil price is up and is sort of stable at around $ 70 per bbl so the forward cash flow is higher, the price of the units has gone up and they can cash out and do something else.

It's a slight punt on the oil prices really but with a steady cash flow to help out - transformational it isn't . What is worrying is that they can't or won't find an alternative investment.

" if they get 25% Royalty for about £1m that's good business."

Well its a GENUINE asset at least

problem is that these royalties are traded regularly and they are fully priced - you make a small but steady income. It can't be transformative, and there isn't a lot of upside. Most companies who do it do it to cover fixed costs like G&A, office costs etc. No-one who invested in UJO wanted to be in a low risk, low return finance operation - there are better people at that elsewhere.

The reason is a) one of their flagship O&G properties is clearly in deep trouble b) they need to lock in cash to pay their salaries and bonuses going forward.

"Why would our current Ops director (Kris Bone) move from IGas Energy - relatively recently"

IIRC at that time IGas closed their office and were laying off people left, right & centre

"Maybe UKOG will benefit from an after-hours RNS from another stock in the same space confirming a potential fundraise."

You mean UJO? Where the stock has been falling steadily all week as rumours of another raise were leaked??
And they're thinking of using the money to buy shares in another offshore Claymore unit?

And the shareholders expect a blood bath on Monday??

Suspect that the issue is at WN - its been years now and we're still no closer in real terms to a decent idea of reserves, value or production.

Panther reckoned Wressle might be better than expected - and he's often right. Problem is it will take awhile to lift the restriction of 500 bopd.

Cant see UJO going bust but there isn't a lot of upside in Claymore units so it's all down to WN really

I suppose Heid is drinking champagne with "her" friend David again................

This outfit leaks like a sieve

"Could UJO be raising funds before disappointment @ WN is announced?"

Could be right - can't see any appetite for UJO Shares in any offer for anyone - the shares are falling steadily

UKOG have also raised cash ahead of disappointing news in the past

Ahh Snaith - newbie, turns up on a Friday, has in depth past knowledge of UKOG - so if you're not FtH who are you?

Adrain - please go away

Anyone else remember the "potential" at

HH
Broadford Bridge
Holmwood
Markwells Wood

"We have Oil at Wressle."
Indeed
And it seems to wants to stay in the ground at W Newton

"We have Oil at Wressle."

And it seems to wants to stay in the ground -