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0.5
Foggy, I have heard DB say he doesn't care how many shares a shareholder has, all shareholders are equal, and if you sell he hopes you do well. This is not a lifestyle company.
Much of the infrastructure is already in place, and what is necessary to develop the field in the scheme of things is relatively small.
The value of the licence is far more than your calculations suggest exactly because the infrastructure is in place.
The Corrib Gas Field, 90km off the Irish coast and 1tcf came online in 2015. Shell sold it's 45% stake this year for over £1bn, and it is expected to run out around 2030.
That values 1tcf at around £2.5bn to a major oiler. West Newton Gas Field is 200bcf. West Newton is therefore worth £500m, based on 200bcf. But the licence area has been estimated to contain 500bcf. That makes the licence worth £1.25bn. That's gas only. That makes Union Jack's interest worth over £200m. Gas only, there's oil too.
Whatever....
The appeal will proceed whatever the council decide. But if it's uncontested it should easily pass.
You're wrong spike. They will be deciding whether or not to contest the appeal. Hopefully they'll decide against contesting, and we would hear once they'd notified Egdon Resources of their decision. If they decide to proceed, we won't hear anything, as nothing will have changed.
It's a shame Frazer Lang had to sell his huge shareholding. factoring his sells in must have had a big effect on the share price, and opened up the chance for swing traders to get in and play with the price. Still, it's the end result that counts, and they'll have no say over what price is set when the licence is bought out. That's the result I'm waiting for.
It's nice that so many people are concerned for the welfare of UJO's shareholders today. Best we sell asap.
Frazer Lang's remaining shares I expect.
The price won't work it's way up to 2p. It will jump. It will take an offer to buy the West Newton assets from a big oiler to get it there, so the big shareholders won't be preventing it. Are you sure you know how this game will play out?
Still green with envy then bob. Why don't you just get out of RBD and make the sensible decision of buying UJO. If you do though, please don't bother posting on here, and don't irritate RBD's shareholders either.
Maybe there is more to what CJ posted earlier about the intent of a troll - to push positive informed posts into the background. Maybe this is bigger even than I thought!
Thank you for your friendly advice, but if you have no position here, please mind your own business. I have been invested with David Bramhill's companies for several years, and am pleased to be involved in Union Jack Oil - as you say, an attaractive name, but an equally attractive company.
Where do these people come from?
By the way, Biscathorpe is surely now classed as a discovery. It would be nice if UJO can get hold of some more and drive this project forward.
Seems very cheap. Clearly somebody didn't read today's RNS properly. This should be well over 0.35! Had this been properly reported in February the share price at the time would probably have doubled from 0.15 to 0.3. Plenty of movement is due when the market realises.
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Agreed
Nice steady rise over the last 6 months.
Unrisked 3.18p
0.23p is stupidly cheap!