Member Info for Redheadedrager

I don’t reckon Justin White could read a balance sheet even if it was presented as an audio book.

What a tool. He actual said, and I quote “revenue is vanity, profit is sanity and cash is king”.

Anyone else think that he’s short ESL?

ROFL

Moneta Minter = Market Maker

Nah mate - you gotta watch it doesn’t do 100% from here by 4.30pm . .

ROFL

@Hollybobs

I’ve learned not to engage in argument with idiots.

Cheers

Red

I suggest that you read the RNS’ and corporate presentations.

Your words on this BB is a Tale. Told by an idiot, full of sound and fury, Signifying nothing.

Still holding and may buy more.

GLA

Cheers

Red

Read up on HUR a few weeks ago. Read up some more. Couldn’t believe it really. Very nice little find. First tranche bought at £0.308. May buy more in the new year. Here’s to a successful 2020 for HUR :-)

Cheers

Red

Does 36 refer to IQ or age in months?

Take your pick.

Cheers

Red (patiently getting on with another day)

@gkb47

Do you also include UJO in that assessment?

Cheers

Red

Ooh. Almost missed this one.

I’m a believer :-)

The very best of luck to all LTH, the crew on site at Horse Hill for safe and successful ops, and oh what the heck - it is the season of goodwill to all - even grumpy old Penguins, Seadoc and JayKay get a have a lovely Christmas.

Bring on the flows!

Cheers

Red

So about 12.5% discount to yesterday’s close.

Not bad.

Better than I anticipated (I think that I did say 0.14p)

But still not ideal. SP decline still in progress.

Still no EWT. Still no news on progressing other prospects.

£5m doesn’t go far when you consider the fees they’d have to pay to do the placing. The money they’ll have to stump up to buy out Humber (once it does fail) and the other corporate expenses.

It doesn’t go far at all when you don’t have any producing assets to really speak of.

But hey, good luck to everyone who is invested. For those that got spiked I hope you do recover your losses. For those that are buying in on the promises of jam tomorrow, remember that tomorrow never comes ;-)

Cheers and adios

Red

You are teasing us with these “We’re almost there. Just a couple more things.” RNSs . . .

So, we’re now waiting until early December for initial flow testing to start.

This present had better be bloody good because it’s got very fancy wrapping paper, shiny ribbons and exquisitely ties bows on it.

Would be a huge disappointment if it was just a £10 WHS voucher.

I’m expecting a TagHueur or even a Rolex.

Anything less and that’s it.

Cheers

Red

BWM - maybe you ought to check out how many corporate scandals and frauds Deloitte has been fined for recently . . .

That’s in doing what they’re specifically regulated to do - auditing and accounting.

CPR preparation is not even a sub-service for them realistically. Why didn’t this go to schlumberger or any other specialist firm?

gkb47

If it’s OK with you I’ll stick around. At least until I’m proven right and the SP hits 0.1p.

Don’t worry it won’t be too long. Not at this rate anyhow.

Not being altruistic. Just pointed a few things out.

BWM - yes sorry there is a CPR but it’s so weak, issued by Deloitte, old and basically useless that there may as well not be one. Basis of preparation is a bare as it can be, level of assurance is as low as it can be.

UJO needs and updated CPR, proven commercial viability and all permissions for long term production before a major would even raise an eye brow at WN.

Cheers

Red

gbk47

Not being disingenuous - I’ve been quite clear that I think UJO is a classic pump and dump based on nothing more that hyped up social media statements from certain people with only one intention - to line their pockets directly from market manipulation. It’s a boiler room scam. There may well be commercial assets in place and they do look potentially very promising but quite frankly they do not currently support the SP.

Cheers

Red

BWM

“ Contingent Resources are potentially recoverable volumes associated with a development plan that targets discovered (by drilling) volumes but is not (or not yet) “commercial”; and. - Prospective Resources are potentially recoverable volumes associated with a development plan that targets as yet undiscovered volumes.”

That is we think that it’s there and recoverable, but we’re not sure.

It’s not proven to be flowing in commercially viable amounts.

UJO are a long way off from that.

Cheers

Red

VanVan

But the asset isn’t proven. Only have UJOs word for it. No CPR. No major would take that gamble. Although it is nice to dream.

Cheers

Red

gkb47

I don’t agree.

If planning is approved. So it’s not a certainty then is it?

When is that decision slated to be made? Is that for testing or full scale production? Are all other approvals in place OGA, EA, HSE, etc., etc.?

Too many uncertainties and all the time the cash pile is dwindling as salaries are drawn, expenses are paid, etc.

Placement - ugly - discount to today’s closing SP of probably 0.15p of at least 12.5% but more likely to be higher to accommodate MMs opening the jaws to swallow that volume into the market.

Open offer - uglier with a larger discount as people will know that UJO couldn’t get it away to the normal crowd as they haven’t got the appetite

CLN - ugliest given no revenue to return the loan, continued pressure on the SP and it drifting lower increasing dilutive effect with each tranche (and there will be many tranches with almost 33% of the shares in issue)

Not good.

Not good at all.

Sorry.

Cheers

Red

It’s worse with a CLN because unlike investors they’re after getting their 10-15% gain or return as quickly as possible. Acting like a giant weight on the SP performance if there is no immediate prose or of revenues. Which is the case for UJO.

Here’s hoping for a placement or open market offer rather than a CLN for everyone’s sakes . . .

Cheers

Red

If it is a loan or Convertible Loan Note then it really is death spiral finance because with no immediate or even medium term source of revenue the SP will stagnate and drop as continuous selling pressure is applied by the creditor driving the SP down prior to each and every conversion, which will be discounted to the 5 day VWAP by between 10-20%.

Others have CLNs but typically backed by at least some form of income. What is UJOs annual income in comparison to the proposed £5m loan?

Cheers

Red

Oh and add in the welcome news that, according to Brocal53, UJO are under investigation.

That takes a very bad situation and makes it worse.

I now predict sub 0.1p

This is awful.

Sorry for anyone holding I really am but this is truly a scam of the highest nature.

Cheers

Red

Rock bottom eh? I don’t think so. Not by a long shot.

Wishful thinking is not going to get UJO out of this classic Pump and Dump nightmare.

This will continue to slide until DB ponies up the deal and the associated discount which will push the SP even further down.

Not good.

Cheers

Red