Member Info for persimmon

Mystic Heid's latest prediction.
'The world will come to an end.......................................One day'

surf1, I can answer that on Heid's behalf. No she didn't but did predict 3 things.
1. That Oil would be 150$ a barrel
2. That the share price of UJO would be £1 by Xmas 2022
3. That if the above were not achieved then she would leave this board

So the £6,000,000 loaned to Reabold California from Reabold Resources has disappeared into the ether then?
We will never know.

Quarterly Form 10Q Released by SEC today. Here is a little snippit......................

"The Company’s financial statements for the nine months ended November 30, 2022 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. We have incurred net losses since entering the crude oil exploration industry in 2005, and as of the nine months ended November 30, 2022, we have an accumulated deficit of $31.2 million and a working capital deficit of $1.85 million which raises substantial doubt about our ability to continue as a going concern.
In the current fiscal year, we will need to seek additional financing for our planned exploration and development activities in California. We could obtain financing through one or more various methods, including issuing debt securities, equity securities, or bank debt, or combinations of these instruments, which could result in dilution to existing security holders and increased debt and leverage. No assurance can be given that we will be able to obtain funding under any loan commitments or any additional financing on favorable terms, if at all. Sales of interests in our assets may be another source of cash flow".

BC.....there will be no progress of any substance until after RBD has received its 2nd tranche of 'pennies' allowing Rathlin to be financed, so 2024 at the earliest. The usual 'smoke and mirrors' playing for time will be deployed between now and then of course. A few morsels to keep the plebs happy!

I see that since the Californian Equity exchange with Daybreak Oil & Gas was completed last year that the shares in Daybreak are down around 50%.
Does that bode well for the future one may ask oneself?

Tony over on the Reabold site has just received a reply to one of the questions he posed recently to the management of that company.
Rathlin who are the operator of West Newton and whose major shareholder is Reabold Resources DO require further funding to drill West Newton. So good old Dave better have the cheque book out for when the Chuckle brothers come a knocking at his door.

Thankyou Tony for taking the time to contact RBD and posting both questions asked and the responses received.
The company was never going to provide any information that legally would have to be released first via an RNS, so much of what was said is what we could already reasonably know ourselves, that such as Rathlin requiring further funding. Disregarding some points which can be regarded as ambiguous it does (hopefully) provide a 'flavour' of their current thinking.

Just noticed with all the massively important news including the astronomical output of oil as described by Heid the share price is actually closing in on the pre consolidation time in March 2021.
Just goes to show how far UJO has progressed in almost 2 years does it not!

Afraid so Paul. Leeds next for sharing our pain lol.

"continue to formulate optimised drilling and completion techniques for the future West Newton production wells, and thoughts are moving on to development planning".
The above was posted by the company in the accounts published May 2022. I wonder if the (not so) dynamic duo can condescend to tell us how those thoughts are now almost 9 months later progressing?

wiltshireman, you posted in November this....
"I openly admit this was a punt and a speculation on my part, the rest of my portfolio I know inside out but have done only a little bit of research but not enough to know very much".
then today.........
"and when was it up for sale?"
Best to do more research on your own admitted "punt" don't you think?

The above company's Quarterly Report for the period ending 31st October 2022 should be published this week if historical release date trends are to be maintained. It should give us all a very good insight into how our partner in California has been performing recently.
Historical Daybreak Oil & Gas Quarterly SEC Form 10Q Releases...........January 2018-January 2022 (5 years)
12.1.18
14.1.19
13.1.20
13.1.21
18.1.22
Note. The SEC is the United States equivalent of the United Kingdom Companies House. Form 10Q publication is a legal requirement in the United States.

So Eric is in the bottom league but one then?

If you and your fellow co-CEO were pulling out £700,000 per year from the company in emoluments NO RUSH AT ALL!

No one is taking any notice of you Heid, everyone knows that the outlandish claims you made and with your promise to leave this board at the end 0f 2022 if they were not met.
Well, I have to tell you not only were they not met, they were out by a massive amount.
Like you £1 a share promise by Xmas........what are they now?
Like you $150 a barrel of oil.........what is it now?

The last I heard domestic hydrogen boilers to be used in any quantity was at least 10 years away. Nuclear power stations take 5 to 7 years to build. I cannot see the public switching to hydrogen boilers anytime soon even though the boiler companies are already manufacturing dual fuel types ready. Whatever takes the place of oil and gas it will be around for a few years yet, and although plastics are being phased out, oil will still be needed for a number of applications. 5 Years minimum for West Newton to come on stream would be too distant for most electrical energy distributors. They are planning for a shorter time frame to invest in gas recovery. Longer term the outlook is bleak.

Spot the Shell Oil Onshore Fields?.......correct there are none.

Shell Oil & Gas UK
Oil and gas production
For more than 50 years, Shell has explored for and produced oil and gas in the North Sea. Today, with interests in over 50 Fields, 25 platforms and 1 FPSO operated on our behalf we are one of the region’s biggest producers and supply around 10% of the UK’s total oil and gas needs. We have recently restructured our North Sea portfolio to give it profitable life for years to come.
We see potential for hydrogen to be part of the transport fuel mix, so we are piloting hydrogen refuelling stations. And we have started to supply Gas-to-Liquids fuel for heavy-goods vehicles to help improve local air quality.

GP..Shell are not interested in Inshore drilling. Too many politics to overcome for just one reason.

Yes Uggy, and what constitutes a start? Getting the plans out from the drawing cabinet?