Member Info for RNSTranslator

You are VERY misleading to shareholders Heid with your post.
What was misleading, please point it out?, and i'd be happy to admit if I was wrong, but the information is from the company and the OGA...
not sure you know fluff from fact...

"there is approximately £83,000 coming in EVERY WEEK!"
yes but you forgot to include opex costs so you need to deduct the per barrel cost of production.
"it is during an extended well test, it is seriously choked back and it is free flowing"
It is choked back, as it has to be, because as he described, you have to find the optimum production rate so as not to damage the reservoir and to maximise the overall recovery of oil. Its also an EWT because they need to agree with the OGA on what rate is acceptable to the OGA, for the above reasons... only then will the OGA give approval for permanent production.
"884 barrels in one day have been recorded"
Minor point, but Incorrect, a maximum "INSTANTANEOUS flow RATE of 844/bbls per day", not 844 bbls produced over a day..
"based on an extra 300 bopd production here"
its currently producing 25 bbl/d gross, its maximum rate of a little under 150bbl/day lasted for 1 year in 98/99 and for 1 month in 2010 (OGA figures). So at the moment this is just made up guesswork,,,

That negative enough?... its difficult not to be negative when all the information they publish points to a difference between what they say and what they actually publish, even with Santas little helpers pushing the fluffy narrative...

MF, I was simply pointing out that from a design and glitter perspective that UJO's was better, from an informational accessibility standpoint Egdons is of course more useful.

So you think its unfair that of all the Wressle (and WN partners) I point out that UJO is the only one not to put links to the existing CPR's on its website. Just how is that unfair, the other partners are happy to do it.
I think you think its unfair that I've pointed it out, and you have no sensible response...

Oh- and not forgetting the Competition for some pictures of industry scenes...
Why no link to the CPR's ... something they'd rather people didn't read?, or they're happy foe shareholders to visit the partners who do publish this info, rather than hide it on the website.
Come on Heid, TAC and all those who prefer fluff not facts... why don't they publish the CPR's??

TAC
The current CPR's are the only independent analysis of UJO's assets.
Yet they choose not to make them easily available to the shareholders, why is that?
Yes it is a nice website, much better than Egdons, but at least those guys don't try to hide the key information they are obligated to provide...the CPR's in full, so shareholders can make informed judgements.
Media Fluff vs Facts.

Can’t find it on their website..well there’s a surprise. They don’t actually provide links to the reports from the site..how helpful…you have to google it..so it’s there just not accessible…such thoughtful planning…there’s a summary in old RNS’s but who can be arsed to go back 6 or 7 years looking eh!

The Wressle Summary CPR (selected extracts of the full CPR) are here.
https://unionjackoil.com/wp-content/uploads/2016/09/Wressle-CPR-RNS-FINAL-v2.pdf
If you want the full report however you have to get it from Egdon website (funny that!) :
http://www.egdon-resources.com/wp-content/uploads/2016/09/2016_Egdon_Wressle_Letter_Final_Client_Release.pdf

Nice pictures and videos though…

He said The licence term is 15 years, not the field life you clown.
Until a new CPR they only have between 100,000 and 240,000 barrels net to UJO in this reservoir that is a fact that can be found on their website. The Pstone Flags have higher contingent resources of 256,000 to 600,000 net to UJO, again unless or until we hear differently from a new CPR. The Pstone has flowed at 140bbls/day max, this is also a fact. However that will need a new well to develop it (as per Egdons original release to maximise the oil production over the gas production from this formation).
So at 400 bbls per day to UJO (as per those who simply make stuff up) how long will the field last?
Or do you accept that in the real world field production declines as the pressure drops, and so initial production rates will fall over time..so the revenue falls as production declines...
Just do the maths...mummy might have a calculator if you ask nicely...

Gwynwyn happy to respond it you could put it in plain English...

I agree Gwynwin.

Heid Knows how to spin a post or leave important information out.

The most sensible thing DB said was that AIM should allow companies to suspend pending a raise..then everyone is in the same boat. Everything else was simply an attempt to inject confidence although nothing new could be revealed, other than confirmation that the field needs an agreed FDP to be approved by the OGA, which will ultimately decide on the appropriate rates based on the EWT results.
It doesn’t take Dick Tracy to work out where the leaks come from. Just type market soundings regulations into google. Anyone who was contacted by the broker will have been recorded either agreeing to receive inside info or declining. If someone agreed to receive and used it or passed it on then they’re going to get their collar felt…of course the way it works is that the broker contacts someone explains that they’re doing a placing, but will only give general details, such as sector, quantum and timing..
If that person doesn’t want to know more then they are technically not insiders…it’s not rocket science to take an educated guess who the client is likely to be just look at the brokers website and look at the client list in that sector and do a bit of digging into when their last raise was. Brokers at this end of the market, especially in a difficult sector go to their regular clients, who either agree or don’t agree to wall cross… that’s why it makes sense to change brokers, otherwise it’s just a repeating pattern where the same investors get approached.
So here’s the obvious question: you’re pretty sure you know who they’re raising for but not an insider, as you declined detailed info.. if you share that “informed guess” is that illegal…some smart arse on the web then posts on a BB or on their Twatter account as an unconfirmed rumour or with a bit of a nudge nudge…if there’s previous here then of course everyone dives for the door…Change the Broker regularly.
Theyre not responsible of course because they followed the rules, but keeping doing the same things and expecting a different outcome is madness….

“Do you have a four letter word tattooed to your forehead?”
FACT perhaps…

"This is about geology and we have three rolls of the dice. West Newton is no way a failure."
after 4 wells it's failed to flow... hardly a success is it!
Biscathorpe being set up as the next big thing : "Drill the planned side-track well on Biscathorpe in 2022, which the Company believes to be one of the UK's largest onshore un-appraised conventional hydrocarbon targets"
Not even described as a discovery, simply a "target".. 2 wells nothing has flowed... they just can't help over hyping the asset base, and then act surprised when investors don't believe them anymore.

Heid
Whilst most folks will find your endless diatribe about the global macro geopolitical environment and the oil price mildly interesting , what has it got to do with ujo?
When a Wressle started flowing at an undisclosed rate (generally agreed to be a little over 100bbls/day) on the first week of Feb, Brent was $56, we now understand that the field is flowing at something over 500 bbls/day and the oil price is $82. On the 1st of Feb UJo was 41p it’s now 16p…
Quite how do you explain that? Volumes up by more than 5x price up by more than 50pct shareprice down by 60pct??

This is basic info any shareholder wants to know.
But the company doesn’t publish this as a matter of course.
Why not? why is all the “research” and media simply puff pieces to highlight what they want to highlight.., why are they so afraid of just publishing straight facts and prospective cashflows…?
Why should it be upto shareholders to ask these questions rather them be simply offered up by the company…?

How about answering questions that current and prospective shareholders would like to know the answer to:
1: When do you expect an updated Wressle CPR?
2: Are you still undertaking a CPR on WN? If so when will it be published. If not when do you expect an update on next steps at WN.
3: Are you aware of how the leaks on placing are happening? if so what are you doing about it, if not. Why not?
4: Can you publish a cash flow projection based on your expected Wressle production profile at various oil prices, say $50-$100/bbl, to show free cash.
5: When do you expect cash from the previous Royalty deal , can you include in the cashflows above.
6: Why don’t you have any independent non execs in the Board?
7: Do you plan to reinvest cashflow into new projects or distribute to shareholders…?
Answer to these would help everyone…but somehow I doubt they’d want to answer…

"Do not read this load of waffle see the line below all three wells are capable of 2.1 million barrels total so a few years production I presume and all wells are drilled."

Utter garbage: there is only one well. Reserves from this well are 260k-560k bbls proven and proven plus probable reserves unless and until a new CPR tells us otherwise.
A separate well will need to be drilled to drain the Pstone reservoir as per Egdons announcement to optimise oil vs gas production. That will cost money to drill and will require further approval to produce from. To date no mention by the operator that Pstone suffered from skin damage, and it flowed at a max 140bbls/day... a PS may be used but to date this has not been mentioned.
The Pstone reservoir is currently only classed as contingent resources NOT proven reserves like the Ashover. 680 kbbls 1C - 1.5mm 2C bbls oil and 800 mcf 1C to 2bcf 2C.

Cynder. what is key here is that the new CPR establishes if the recoverable volumes have increased following the results of the PS.
Until we know that, all we can go on is that at 750 bbls/day the current proven reserves (260,000 bbls) will be produced in 11 months and the Proven plus probable in 24 months. Of course a field doesn't produce at a fixed rate then stop, it declines through time as the pressure drops. But these timeframes give a context of how long lasting the revenue stream will last...
To access the Pstone reserves will require drilling another well to a different structural location and a greater volume of gas to be dealt with...

Lenin
I suggest you buy a book on basic corporate accounting.
You’re confusing investor metrics which mainly apply to companies which have a revenue stream, physical assets that they may have purchased and possibly existing sales contracts, rather than a company that has no meaningful revenue is spending more than it earns on assets which may or may not have a value at the end of the day.
The only true value in these cases are cash (less current obligations and liabilities).
Book value is speculative until it’s turned into Proven Reserves under development which requires in the case of the UK an FDP approved by the OGA, at which point it becomes a real asset. Until those reserves start flowing it’s value still remains subject to a degree of speculative risk on its value.
As a producing asset declines the asset value is reduced, it’s a wasting asset. If the oil price rises or falls then a test is made to see if the value is higher or lower (can lead to non cash accounting write backs or write downs).
Bottom line: if a book value per share for speculative assets is higher than the shareprice it is simply an indication that the company has spent far more on its asset base than the markets estimates the of the value of the company.

Lenin, you still don't get it.
Book value is just book value, that's in effect what they've spent to date on the assets.
When it becomes clear that the assets cannot sustain that book value, they have to write it down (as Corallian did with the book value of Colter and Wick).. pretending that somehow its tangible value that can be realised is simply misleading...