Member Info for Odins

Milnrow,

Arco De Sao Jorge. A lovely little place with two acres of vineyards to recover. Gutted but very lucky that it did fall through all considered.
I would avoid Ponta Do Pargo as it is very windy and tends to get the worst of the weather. I do love the little tea house though and the golf course will benefit from the new road. We have family there and in Poul Do Mar.

Other places to avoid are Port Moniz and Camara de Lobos. The first is also very windy and gets rammed full of tourists, the second is like Thamesmead on sea.
Try looking around Santana. Property also cheap and nice people.
If you ever want advice or good contacts for house buying in Madeira, just let me know. We have really good lawyers, mortgage brokers and bankers.

Any profits from my UJO shares will be heading to Madeira.

I was in the process of buying a place there in 2019 when the pandemic kicked off, Milnrowmug.

I put all of the deposit money in here when the sale fell through.

Will eait until price drops this after noon

I was thinking more abour the quick hit squad Mr. I.

Any LTH will have done their research and will be sticking around for the big payoff.

Now there are an extra 5Bn shares in circulation, bought at rock bottom prices. How long do you think they will hold out until these get ditched and they move onto the next fast buck?

My guess is about 5 minutes after the RNS drops for Wressle production.

Personally, I am waiting for another investment to come to fruition and then I will pump the profits back into UJO.

AIMO & GLA

This is the problem.

Since the placing shares seem to have been churned, if the SP nudges over 0.20, the profit takers will bail out en mass and tank the SP with a nice 25% profit.

It is the very patient LTH who will either need cat like reflexes to beat the rush for the door, or nerves of steel to hold for what I would consider to be a correct re rate, considering the wealth of assets UJO have.

All very frustrating.

£40k more sells than buys today and the SP has a good day.

Something is going on in the background.

BMD just tweeted. RNS early next week.

He is usually right.

Fill your boots while you can.

While I hate to say anything negative about UJO, being heavily invested here myself. Has anyone else noticed that the site is neat and tidy, but the turning 'T' within the site isn't connected to an actual road outside the site?

The planning restriction of 500 bopd is probably because the dirt tracks outside the gates will disintegrate in no time without several tons of type 1 filling those potholes.

Just an observation.

Hi Istawrap,

The Broker's note that I mention was very detailed and had a case for each UJO asset. For balance, if the whole lot were still risked, the target SP would be 0.5p. For the life of me, I can't find it again now.

The lovely Heid has done a fantastic amount of research relating to UJO and if she has come to a different conclusion regarding the (her) target SP, then I certainly wouldn't want to rain on her parade. Investor sentiment can add a lot to the SP when things really get motoring.

Personally, I am looking at the 1.5p top end SP with everything de-risked. That is of course the opinion of the Broker and one that I am comfortable to accept.

GLA and please DYOR.

In a similar position to yourself, with a quite high average due to numerous top ups.

The SP will probably stay where it is or thereabouts due to a placing a couple of months back. The SP was at 0.31 prior to this news being announced and dropped to 0.16p, which was the value of the placing shares. It then dropped even further as a lot of PIs got cold feet prior to news of the drill being announced.

At this time, it is believed that there are still placing shares being churned, so the SP will not do much until the overhang is cleared.

That said, there is a lot to look forward to in the new year, with Wressle coming online in January and the results of the EWT for WN-B1Z expected in Q1.

We also have the planning permission for Biscathorpe expected around February. So plenty in the pipeline (no pun intended) for UJO next year.

As always, DYOR and GLA.

Hi Istawrap,

Having seen another Broker's note on Twitter, your 1.5p is where they had this pegged once everything is de-risked.
I seem to remember that Wressle was indeed worth around 0.1p to the SP.
A de-risked WN-B1Z was worth around 0.3p for gas and 0.5p for oil, with all of the other smaller fields accounted for and assuming a positive result for Biscathorpe, the whole thing comes to 1.5p top end.

Hi BlakeneyP,

The sidetrack is now complete and the production liners have been run in. I believe what comes next is the CPR and EWT with a smaller (workover) rig. This is why the main drill rig is being dismantled.

The EWT will take a couple or three months to fully establish what we have and at what rate it can be recovered. The porosity was quoted as being 14% which is quite positive

I read with some interest this morning that we import 74% of our gas from Europe.

In the event of a no deal brexit, this supply could be in doubt without sky high tarrifs.

In all honesty, WNBZ1 couldn't have come at a better time.

GLA

Quick back of a fag packet calculation.

The whole of PEDL 183 is conservatively valued at £740m.

UJO'S share 16.6% = £122m if the licence is flipped to a major.

I see that SPAngel's broker's note is now rating UJO at 0.88p.

There was another broker's note doing the rounds last week which had UJO pegged at 1.5p over all unrisked projects.

GLA LTHers. Patience trully is a virtue.

Doria,

Please go away.

Thank you.

The rest of us.

Hi GP,

Exactly that. BMD put out a heavily caveated tweet relating to something he may have heard from his pals in the know.

Being a sensible adult with free will, I took it with a half pinch of salt. Considering it was BMD who flagged up the placing a week or so before it dropped.

I got quite badly stung with the placing and wish I had taken heed of BMD's early warning on twitter.

Still in for the long haul here though and eagerly awaiting the RNS.

GLA

You may want to check what is being said on Twitter GP.

It explains the sudden SP jump.

There are some interesting bits on Twitter Crocqman. Particularly the drone footage from Roofers hound and some of the mark-ups of the geological formations and well paths are also highly informative.

A word of warning though, pay no attention to what the swampies are posting.

You will soon figure out who they are and for your own sanity and in the intetest of fact based information, I would block them.

Ocelot,

Fair enough, I got a bit excited there.

However, the big news is the diversification into carbon capture and repurposing of old wells for geothermal.

There is big money to be made out of both of those.

GLA