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Heids words of wisdom:
"West Newton testing costs an awful lot of money & has gone on a long time now. Don't tell me they haven't found something special there !"
So how much did it cost Heid? (and no they didn't find anything special!)
Dave hasn't yet shared the cash balance at the time of the last results, but obviously felt he needed a cheeky top up...

"I do not need your financial advice."
It wasn't advice , it was an observation.

As is this:
"Have a sense of entitlement and require constant, excessive admiration. Expect to be recognized as superior even without achievements that warrant it. Exaggerate achievements and talents. Be preoccupied with fantasies about success, power, brilliance, beauty or the perfect mate."

The last TR1 seems to be from Chris Williams , (aka Chrisoil), not an institution but perhaps should have been institutionalised.
No half decent insti will touch these shares :
Too small
Not enough volume to trade
Too volatile because of a predominant uninformed retail investor base.
Too little information to asses value
They’re a promoters stock, for people who trade on news flow and rumour…

“ I lose or gain nothing until I sell” says Heid
That is why you’re a gambler not an investor.
Pretending you haven’t lost anything until you sell is the reason people hold on to shares too long… selling crystallises a loss and confirms you made a poor choice, for many that’s psychologically difficult so they hold in the hope of getting back their loss..the same as gamblers chasing their losses…
However the reality is if you pay £10k for shares and they are valued at £6k by the market you have lost £4K.

MF
Clearly you don’t understand but can’t admit it.
An institutional investor is a fund run by a fund manager employed by an investment institution such asFidelity or L&G. The fund manager selects the portfolio in line with the funds investment policy and its theme..eg UK Equity Growth. Owners of shares in the fund own shares in the fund, the fund manager is the one who makes the decision to buy or sell a particular stock. In line with the mandate and limits of the fund. Someone holding units in the fund cannot tell the fund manager to buy or sell particular share, you’re either in the fund portfolio or out
Nominee accounts are the collective investments of their clients, the clients are the beneficial owners of the shares (not the nominee) and the clients decide when to buy or sell the shares held by the nominee.
The nominee has no control over the buying or selling of those shares….
Just accept you’re wrong and move on…

MF
There may be institutional holders but non have more than 3%. Those listed are nominee accounts with 10’s or 100’s of individual holders behind each of them.
If there was an institution that held more than 3% then they would be listed under the rule 26 list, there isn’t so de facto no investment institution holds more than 3%.
No investor in the recent placing took more than 3% or they would need to TR1. Pretending this is anything other than a retail share, with possibly a few sub 3% hot money instis is not credible.

There are no significant institutions in this company.
All the disclosures under Rule 26 are nominee accounts for individual investors as such they are not subject t to TR1 as they are not the beneficial owners.
At the moment everyone’s headed for the door because despite Wressle flow rates the current CPR defines the total recoverable oil from all reservoirs including those yet to be developed from the field. If you calculate the value of all that oil to UJO at $60 (after opex ) then the number ranges from £12-35mm over a period of perhaps 5-6 years. this includes ongoing costs to run the business of say £1mm/year , the £2mm payable to Calmar but not the cost of the well for the Pstone development.
Until the CPR changes these numbers then nobody is going to value this at much more than the bottom end of this range plus a bit for cash in hand. WN and Biscathorpe have yet to actually produce hydrocarbons so nobody believes that until it happens. All we have to date is management trying to gee up the price with the usual promises, homespun rhetoric and nod nod wink wink transformational hype… nobody believes it any more…

Not sure the Acuitas facility is useful anymore:
"In addition, the number of new Ordinary Shares to be issued per Advance shall not exceed 1.5 per cent. of Reabold's then enlarged share capital. Acuitas reserves the right to reduce the amount of an Advance in the event that, during a Pricing Period, the VWAP falls below 0.3p or there is no VWAP on any day during a Pricing Period (reductions of 20 per cent. and 10 per cent. per day where the VWAP falls below 0.3p or there is no VWAP, for a 5 day and 10 day Pricing Period respectively)."

Maximum drawdown is only £200k, (1.5% MCap), but this can be reduced further by Acuitas as the Shareprice is less than 0.3p.

Keeping doing the same things and expecting a different outcome is simply not a viable strategy.
Why not simply agree to return all the revenue from Wressle back to shareholders and trim the admin costs back to a bare minimum? Drop or sell everything else that will simply drain cash and give that back too.
Based on the current CPR (and this can be updated when the new Wressle CPR comes out) the total revenues net to UJO at $60/bbl for both the Ashover and PStone after opex costs ranges from £17mm proven (376k bbls) to £37mm (836k bbls) Proven plus probable over a period of about 6 years or so. If you assume £1mm max a year to run the company on a bare bones basis that's £11mm to £31mm net revenue available for return to shareholders add in current free cash £6mm and the EDR £1mm less the Calmar £2mm. that's £16-36mm. Of course it will be front loaded as the field declines.
Plus of course the proceeds from selling off all the other stuff..?
If anything has been proven its that they can't invest shareholders money well.
£30mm raised so far.. time to return the money before any more is spaffed up the wall.

Is Dave one if your Special friends?
Has he told you what happened to the £14mm?
Does he actually understand why the share price is at an historic low, or is that someone else’s fault…
Any fund manager who had this performance would have been moved on a long time ago.. hand it back, dont pss it away on chasing your dreams using other people’s money…

"Wressle for me will be an absolute goldmine. I anticipate a share buy back as what else is David going to do with all of those millions"
The same as he's done with the £14mm he's vaporised from the £30mm he's raised so far.
More transformational deals..give me a break, that old chestnut.
If he agreed to hand the cashflow back to shareholders that'd be a start, because clearly he doesn't know how to invest it to get a return, as is patently clear to all the poor schmucks who bought shares on the back of his deals....

“…but mind you don't get a knock on the door.”
I presume you imply that plod will be knocking on some folks doors…” Evening Sir, can you confirm you’ve been posting information from UJOs website on a bulletin board?”
Guilty as charged…officer.
“Can you please stop it Sir/Madam, some shareholders still believe its worth £6 a share and claim their human rights are being violated by the blatant use of facts”
Who are these people?
“They are members of the well established, but diminishing cult of St David the Transformational “

So TAC, having listened to Dave in his interview and heard him suggest that the EWT may be finished in December, how long do they have to stop producing for until the OGA approve the FDP and they can restart "commercial" production?
How long is the FDP approval process?
What, hasn't Dave told you? - mushroom.

maybe a p*ssed off investor mugged into the last raise...

Do you know how I imagine you Heid?
Someone sat in a house in the West Country, indoor swimming pool , hot tub and a Porsche in the drive.

So Heid, perhaps a little catch up on your hopes, as you didn't quite catch the bottom.
On Nov 20th 2020, almost exactly 12 months ago, when the price was 0.15p (30p) you said this:
"My 3p (£6) prediction is for those looking for a real investment here.
Sticking with this unfolding story over say the next 18 month to 2 years."

So do you still think the share price will get to £6 in the next 6-12 months?

Jack
As with any fractured reservoir (we don't know yet if the matrix can contribute to flow) the key is to understand fracture orientation assuming there is one, and drill perpendicular to it with a high angle or horizontal well. Probably under balanced.
Thats what they do as far as I'm aware in the Netherlands (and elsewhere) in similar types of reservoir. I think the issue with Rathlin is that they came at WN from a Canadian Reef play mentality, which of course it isn't. Part of the solution is that they have to accept they were wrong and bring in the right expertise, which hopefully they are doing..

my my Wiltshireman, we are a bit testy today.
You are of course free to invest on whatever basis of understanding you like, as am I.
Some folks prefer to actually understand what is behind the PR fluff, and yes, if the upcoming CPR supports an increased recovery rate, and cashflow profile etc.. that is worth more than the share price at the time I might invest, as I have done previously.
I suppose that's the difference between an investor and a someonetaking a punt...just because the management said its "potentially transformational"... history clearly doesn't judge those comments well, as the share price drags along on its @rse at historic lows despite becoming a producer.

Anyone with any sense will not simply not accept what management “believe” anymore. That’s why a CPR is critical to establishing credibility in this company. We need a timeline to publication and the report to be published on the website not just an executive summary of it.
Quoting instantaneous flow rates and a choke size is simply not enough, to understand what is going on requires pressure information, bubble point (if appropriate) as well as decline rates to calculate ultimate recoverable reserves and the associated cashflow profiles… ultimately it’s like a car, its top speed is interesting but irrelevant if you’re on a long journey and there are no filling stations en route, it’s how much fuel is in the tank and the most economic speed to travel at that’s important.

I often find your posts very skewed Heid with regards to Wressle. (and all things UJO)

You're selling the upside based on nothing more than "your expectations, wishes and hopes" Not actually based on the full evidence that they have to publish.. phrases often taken out of context from a company that has failed to deliver on what really matters over the last 8 years.. the SHAREPRICE....everything else is just bluster and fluff.