RE: Another Hurricane13 Sep 2020 20:28
Brent has recently fallen from $47down to sub$40 and this has clearly caused a fall accross most oil stocks including UJO. Any upturn should hopefully lift ujo.
I spoke to DB yesterday and asked him about the recent decline in ujo sp and the so called leaked placing.
Obviously he couldn't comment on a placing coming but, he did emphasise that all the present projects are fully funded and that auditors are satisfied with the funds in hand to ensure ujo meets all regulatory requirements. The company accounts will show that all is healthy at ujo. To date there have only been six placings I believe.
Any suggestions that a leak has originated from the bod or the PR company or indeed SPA is utter nonsense.
Therefore, my guess is that BMD sometimes guesses right and sometimes gets a tip off via some other means. His recent posts have probably contributed to the recent concerns of investors.
Other, contributing factors had to be all the misleading Twitter images and again, the utter nonsense about hard rocks and granite boulders! Plus, many other ridiculous comments which almost certainly caused doubt in the minds of some investors.
Fact: the 80m has now been completed successfully and the site is now being prepared to accept the main rig.
The focus for all investors in ujo should be the WN drill and the development of Wressle.
DB also reminded me that although WN presents an immense opportunity for the company, transformational infact. The highly technical drill of over 2km is by no means an easy task. However, he said that even a modicum of oil success during the drill will place ujo at the racecourse.
He also made reference to the nearby North Broughton as being of equal opportunity. I need to read up on this
If a placing comes then I'm not in any way bothered.
I'm now focusing on the arrival of the main rig and the progress at WN over the coming two months.
I'm also looking forward to news on Wressle.
Let's hope good sentiment returns soon and the sp recovers.
Good luck everyone and listen again to DB's many video interviews and read the RNS's and base your investment decisions on these.