Member Info for RNSTranslator

Winnifroth going off half ****ed.
The RNS was clear it said the upcoming Royalty deal was with two US institutions.
The issue is not that rather the previous purchase from CPRL who has Godson as Co Sec (NOT a Director)
but also employs Godson and Co as their accountants.
Whilst this may or may not technically be a related party transaction. It would have been appropriate to highlight the relationship (to avoid this very situation) and state whether Godson stood aside when it was discussed/approved by the Board.

FrankJ
Sunday Times Prufrock Article 2010:
"Nobody likes to be the victim of an anonymous whispering campaign. The bosses of Nighthawk Energy were so upset with internet bulletin boards spreading rumours about their oil firm that they went to the High Court to put a stop to it. The detractors will now be revealed, through their internet connections, paving the way for defamation claims.
While an astonishing amount has been written about Nighthawk on these shadowy forums, not all of it is bad.
One contributor known only as the Boxer has gone to great lengths to defend the company. In one bout last June, the Boxer swung a right hook at a participant named Ardmore.
“I think you are on seriously thin ice and I would not be surprised if the directors of the company were to take action against you,” wrote our pugilist, in a detailed response that included references to the annual report. Who could this supporter be?

Intriguingly David Bramhill, Nighthawk chief executive, made a number of posts under the name Owlcreek. In one he revealed a sporting past — as a professional boxer under the wing of Bert Hussey Promotions. Would the Boxer care to step out of the shadows?"

So your wrong he can't spell legalities...
Or scurrilous...

Heid
Even David talks to himself: (David used to post as the Boxer on Hawks BB, even thought he was the CEO)
Some of the better quotes in the post:
The Boxer - 03 Jul 2009 - 01:09:14 - 50625 of 128315
"My reason for calling DB was initially to give him a piece of my mind on various issues highlighted in the report. Following my conversation with him I felt humbled and actually apologised to him for bothering and doubting him."
"DB had only just arrived back to his office from London and he spent nearly an hour on the telephone to me highlighting some of the errors in this scurralous piece of work."
"DBs response was staggering and I felt an idiot for not doing my own research before I got shot down."

"The word diabolical should be applied to the way that the writer has tried to discredit everone concerned with DB and his companies. The inuendo contained in the document is a disgrace and I believe for the sake of fair play that this outfit should make swift moves to amend their wrongdoing. I asked DB what he was going to do for us shareholders and whether or not he would be taking legal action against this bunch. Apparantly, hmmmmmmm! where have I read this before (litterings within the document)DB will "not be wasting his time on leaglities".

In David we Trust - Really?????

Mirasol that is their share.
£1.04mm x 2
Cant see how they can produce for an extended period at 500 per day without OGA approval.

Heres the money situation from their own reports:
17 Sept 2020 £11mm (post last raise)
31 Dec 2020 £7.25mm
1 May 2021 £5mm
30 June £4.6mm
Interestingly no update on cash balance at the time of interims (obv includes fixed overheads)...
Cash burn Sept - Dec = £35k/day, (WN drilling)
Cash Burn Jan - April = £18k/day (Egdon Loan and Humber Purchase)
Cash Burn May - June = £6.7k/day ( Not much happening, start of WN testing early June)
If we assume that WN and testing and Wressle work runs to £12k/day? (could be more/could be less) that's £1.1mm spend to end of Sept.
That leaves £3.5mm, they have to pay Calmar £2mm on Wressle production.
That leaves £1.5mm, They are owed £1mm by EDR but can't get that back until June 22.
Income from Wressle will add to this at say £300k per month going forward, but that's still not enough to pay for the Royalty at £1.3/1.5mm as well as keep sufficient headroom for going concern and undertake the other activities they've promissed such as drilling B2, Biscathorpe etc etc.....
Of course that's why they need to raise...

AJamesW: Just Said:
Rathlin were set up for a A2 GAS not Oil EWT. - yes that's correct, they did not identify the liquid section before the EWT
Because they expected Condensate (that expectation was only after they started testing not before, that's why the stopped testing, unexpected liquids, read your own first line!)
from the logs rather than light oil the well was perfed in the Gas liquids contact zone,(Really, how do you know which section was perf'd, this was never released, tests are always from the deeper section first)
with some oil reaching the surface causing the EWT to be terminated because of Oil contamination in the incinerators.
(Oil? they have often mixed Oil and Liquids in their presentations, the sample from B1z is still being analysed, how do you know they got samples at A2, if they did they will know what it is.. but they've never said, why)
The GAS pressure from the well held down any oil flow just as it does in the reservoir which prevented it from flowing, had Rathlin perfed at the bottom of the liquids zone the gas pressure would have gushed the well. ( I'm afraid that is just nonsense gobbledygook, you simply don't know what you're talking about, suggest you stop now, before it becomes embarrassing)

In David They foolishly trusted - Sept. 2016.

Union Jack Oil plc an onshore oil and gas production company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector, has given ************* its unaudited results for the half year ended 30 June 2016.

Operational Highlights
-- Field Development Plan progressing to proceed with commercial production from the Wressle discovery expected to commence in late Q4 2016
-- Acquisition of a 7.5% interest in PEDL143 containing the drill-ready Holmwood Prospect on trend with the Horse
Hill-1 discovery
-- Acquisition of an 8.33% interest in PEDL182 containing the Broughton North Prospect
Financial Highlights
-- Cash position in excess of GBP2 million as at 5 September 2016
-- Company remains debt free
-- Company is fully funded for current planned drill programme and Wressle development

So that’s 5 years late on Wressle Commercial Production, and how many fundraises since they were “fully funded for Wressle development” Is it 5 or 6??

Seems someone’s keen for you not to see the past history or Mr Bramhills businesses ventures…
Well here’s one interesting article from the Sunday Times from his time at Nighthawk…

-Nighthawk Energy was so upset with internet rumours about the oil firm that it went to the High Court — but one mystery remains
Kate Walsh
Sunday August 15 2010, 1.01am, The Sunday Times

Who is the Boxer who defended Nighthawk Energy?
Nobody likes to be the victim of an anonymous whispering campaign. The bosses of Nighthawk Energy were so upset with internet bulletin boards spreading rumours about their oil firm that they went to the High Court to put a stop to it. The detractors will now be revealed, through their internet connections, paving the way for defamation claims.
While an astonishing amount has been written about Nighthawk on these shadowy forums, not all of it is bad.
One contributor known only as the Boxer has gone to great lengths to defend the company. In one bout last June, the Boxer swung a right hook at a participant named Ardmore.

“I think you are on seriously thin ice and I would not be surprised if the directors of the company were to take action against you,” wrote our pugilist, in a detailed response that included references to the annual report. Who could this supporter be?

Intriguingly David Bramhill, Nighthawk chief executive, made a number of posts under the name Owlcreek. In one he revealed a sporting past — as a professional boxer under the wing of Bert Hussey Promotions. Would the Boxer care to step out of the shadows?

As part of the wall crossing process, proposed recipients must be made aware that:
? they will be given potentially inside information;
? they have obligations of confidence in respect of that information; and
? they must not deal or otherwise act on the basis of that information until the information has been cleansed or it otherwise no longer constitutes inside information.

wrong Persi.
UJO are legally obligated to release if instructed to do so.
They are obligated to share this with RBD, but they are not obligated to materially change the content of the release they have been asked to make by the Nomad or the Market to inform the market where they suspect their is a false market in the shares.
You can agree to disagree, the fact is you’re incorrect in your assumption.

UJO will know exactly what’s going on at WN, they will receive WNA daily operational updates.
Although I have to say if I was city type talking to UJO about participation in a placing I’d not want to subscribe only to find out the next day WN didn’t flow… or perhaps I would if I got the impression it was likely to be positive news!
clearly DB couldn’t share market sensitive data with potential investors unless they're wall crossed…
makes you wonder doesn’t it?
If he raises next week ahead of WNA it could mean the investors “sense” success, otherwise why would they invest?
Any placing will probably need a whitewash to update all shareholders and ensure placees and shareholders all have the same info… even if the order book is already full…??
Not sure about the latter, perhaps one of the city types on this BB can enlighten us on how disclosure works after the book is full (of wallcrossed placees?)

Persimmon that’s not true.
If UJOs nomad (or AIM team) tell them to make a release they must (just as they almost certainly did on Friday). Doesn’t matter what Itchy and Scratchy say, and whether they agree or not. That’s a standard clause of all Joint Operating agreements where any party is listed.
They will need to share it ahead of release with RBD so they can release if needed, but that’s it…

“ Gas at WN is nailed on and it flows fact.”
Really ? could you point out where they said it flows and at what rate? Recovering samples to surface and flowing are not the same thing. Even flowing (which they’ve not actually admitted to) is not an indication of commercial recoverability….

Very brave
Total raised £28mm
Mkt Cap £25mm
Shareprice at float 50p (equiv)
Shareprice today 26p
Bramhill said in a puff piece video recently he’d built 5 £100mm mkt cap companies before: perhaps we should publish his actual form too…

Previous Royalty purchase:
“Union Jack Oil plc (AIM: UJO), a UK focused, onshore hydrocarbon production, development and exploration company is pleased to announce the purchase from Cambridge Petroleum Royalties Limited (“CPRL”) of a 2.5% cash generating royalty interest “

CPRL
Co Sec Raymond Godson
Accountants :Godson & Co

UJO.
Non Exec Director: Raymond Godson.

So in summary:
WN testing (largest discovery since 1973 -possibly.)
No results from self cleaning A2 , B1z “no measurable flow”
Wressle flowing well on clean up (second largest onshore producer) “Transformative” but no update on actual rates.
Biscathorpe, largest unappraised discovery..,

So Let’s raise £5mm at a price at 20% or more below than the last leaked raise (32p) to buy some Royalties @$70 oil before we know what the final results of these transformative events are…. why not wait for the results, if their half as good as they claim then the shareprice should rise… perhaps even they’ve stopped believing their own hype… nothing if not predictable…

"Maybe if there is a fund raise it might be to complete the purchase of 25% royalties that they mentioned. This would in fact a very good deal."
How do you know it would be a good deal?
What are they buying? what is the revenue stream, what is the upside vs downside on an oil based revenue stream if you're buying it based on $70 oil, what risks are associated with the assets, what is the decline rate in the production (and hence royalty), is the Royalty post opex and costs ? or is to simply "off the top", and therefore what is the point at which they become uneconomic and the revenue stream stops? so may questions, so few answers...

Who knows if the rumour is real or BS.
Here's the form book on UJO placings, taken from their website, so you make your own mind up.
Date Raise £ Price (consolidated)
30/07/2013 800,000 50
26/02/2014 650,000 45
13/06/2014 1,400,000 50
08/09/2014 2,000,000 60
27/10/2015 800,000 34
22/09/2016 700,000 34
27/02/2017 1,400,000 27
05/03/2018 1,250,000 17
03/10/2018 2,250,000 17
20/03/2019 1,750,000 15
28/06/2019 2,250,000 34
27/11/2019 5,000,000 30
17/09/2020 7,000,000 32

Average Time between Raises 217 days (7/8) months
Shortest 87 days, Longest 414 days.
Time since last raise 365 days.

Krull - or should it be Kikazaru

“We need energy security for the UK . West Newton, Wressle and Biscathorpe will give us all of this.”
500 bbls/day for 1000 days is hardly energy security is it.
West Newton actually needs to flow at a rate that can be
1) actually measured
2) at a rate that can be commercially exploited.
Biscathorpe: same as above.

You’re use of the word “will” should be changed to could, and the word energy security may need to be qualified to energy security for maybe 4 hours…the total Wressle lifetime reserves compared to daily UK production.