Member Info for RNSTranslator

That’s for me to know and you to fret about!

“Where do you see oil price 2023/2024 ?“
To be frank just look at the forward curve.
Trying to play a guessing game is a pointless waste of time.
Companies get valued by the markets expectation for forward pricing (forward curve) , companies buying or selling have their own internal forecasts, usually longer term and is often below the curve.
Just because some analyst or some bank says $x or $y is utterly irrelevant in the valuation of real oil and gas assets.
Telling everyone you think it’s going to be $150/200/300 is like p!ssing in the wind, your guess is irrelevant to what UJOs shareprice is or will be (use the published profile of independently proven oil and gas reserves and apply a forward curve and a discount factor and apply a delivery risk factor specific to the assets)
That’s your first lesson for today on how oil and gas valuation is done by the professionals (and I don’t mean analysts who don’t want to p!ss off their clients)

And that “three days of storage” takes far longer than 3 days to produce…

In your very own words “I’m still learning on the job”.

If you actually took the time to read and understand my post you wouldn't make such inane and ill considered comments.
I've stated, many times, that I expect it to show an increase in recoverable reserves at Wressle which will
then move the share price ahead.
I've also stated that I'm concerned at the time it's taking, having direct experience of CPR's and working with GC I know how long this stuff takes, and I know that GC are meticulous and won't have their arm twisted to provide a different answer than they have determined (unlike some others).
So yes, I'm concerned that its taken 9 months and counting, but no I expect it to be a positive result.
Its called taking a balanced view of risk and reward, its what real investors do.
You simply can't grasp that concept, as you want to put everyone in a for or against category... read and learn.
You have 2 eyes and 2 ears and one mouth... try to use them in that ratio.

“No way will the share price not of moved by then ...”
Of course it will move, but it won’t quadruple.
If we’re back to the original float price of 50p that’ll be a result.

So where is it? Final question.
If folks have a “sniff” then it must be complete or the outcome known?
If your going to make speculative comments, at least be consistent and logical.

TAC I agree, and have said so many times that until the GC report on Wressle is published nothing will fundamentally change. Quite simply shareholders have been bitten too many times and now take management promises with a large bucket of salt.
The WN CPR is not going to make much difference as they have already said the development and flow rates are theoretical and conceptual. A CPR doesn’t change that basic fact.
Until they actually flow real gas at commercial rates this is not a development. The early talk of the largest discovery in 50 years was simply an attempt to goose the shareprice… nothing to date has supported that statement, unless you value a discovery that can’t be prepared diced. For a salutary lesson in selling a discovery as a “development project”, just review i3’s Liberator “development “ the fact is although there was oil down there and a CPR, it turned out there was nothing of commercial value there.
A share buy back will only have a limited effect (other than the reduction in the number of shares outstanding and hence @valu@ per share., the rules around it state they cannot influence the market using buy backs, so it’s limited to a daily volume (15% I think) and the buy back order and terms is handled by the broker and cannot be stopped or varied by the company once started until the agreed programme or timeframe is complete. See Cairns buy back still ongoing although in merger talks..it continues until finished..

Selfish
TAC posted this on the 21st.
“Have you not noticed in the Reabold RNS on West Newton, they state July for the CPR, whereas DB in his states 3rd quarter.”
As a defence for Bramhill not being an over promiser.

TAC - a fine defence of management, which seems to be a passion of yours. You quite correctly state “ BUT, for the first time in the company history, that long awaited period has arrived. In 12 months, the company has achieved profitability. It is debt free. It is going to do a share buy back or a dividend payment/both.”
So I ask you a simple question: why is the shareprice going backwards?

I think Ant & Dec at RBD said July..
They’re the John Lewis of investing. “Never knowingly under promised”

“No doubt sniff of the Gaffney Cline CPR”
The longer they take to publish, the greater the whiff…

The share price tells you all you need to know.
WN is in hibernation until next year. When the make or break horizontal well is drilled. If that flows all well and good, it’ll be sold asap. if it doesn’t it’s game over for these guys.
The only news on the horizon is Victory, and there’s no clue as to what the acceptable bid actually was.
My own view is that the numbers/price will be at the bottom end of over hyped expectations based on NAV valuations in the £100’s mm..
If RBD get £10-15mm in immediate cash that’d be a good result, with further kickers on progress.
Market cap £24mm, money raised over £50mm.
How many institutions would see that as an acceptable performance for a fund manager?

"...recoverable hydrocarbons of 203 billion cubic feet of gas and 1.2 million barrels of oil - with an estimated gross cashflow of $1.3 billion."
They have yet to prove if any of this is actually recoverable, rather than theoretically recoverable.
Price per therm of actual gas is today £1.67/therm Todays price of unproven theoretically recoverable gas is £0.00/therm.

What our Sage from Saafend hasn't figured into her/his calculations are the impact of the EPL or Windfall Tax.
As far as I can see there is no significant capital expenditure until sometime in 2023. Ie Wressle sidetrack, WN “developmemt” drilling and the long awaited and many times paid for Biscathorpe well.
The only expenditure this year is the gas pipeline and associated kit, and that’s still subject to planning.
So, given that the windfall tax is payable on net revenues and carry forward losses cannot be used to offset, and neither can non Capex overheads, that seems to be a monthly tax obligation of 25% of the net cash income currently running at £800k or so? That’s over £2mm upto May next year, as well as reducing the current tax pools as an offset against the regular 40% tax.
Dave may have booked a seat in Business but hasn’t paid for the ticket yet.

“ I doubt DB sits on his ars*e bowing and scraping to Mark Abbott!”
How do you know?
Bramhill was happy to lend him £1mm to avoid Abbott going cap in hand to his shareholders, then raising £3mm from his own shareholders to avoid “going concern issues” allegedly.
I think I know who got the better of that arrangement, don’t you?

“ Have you not noticed in the Reabold RNS on West Newton, they state July for the CPR, whereas DB in his states 3rd quarter. ”
Have you also noticed in the same RNS that UJO didn’t mention that RPS were doing it (rather than GC) but RBD did, this is a two way street of carefully managing the information flow to your shareholders.

“ Union Jack Oil invest in the companies that are operating the assets”
That’s simply untrue.
UJO are co owners of the assets, and in the case of Wressle they are the largest owner with a 40% share. of course the Joint operating agreement pass marks may not allow them to make things happen without one of the other agreeing, but that is the agreement they signed up to.
If they disagree with what Egdon say, they are both allowed and obligated to say so. If they think Egdon are blowing smoke up shareholders @ rse by over promising then they should say so. Not just hide behind the operator.

Chitty “ 7 quid? Really! I am looking forward to me bumper bonus an divi tomorrow”
You must remember to switch accounts before posting .
Rubeygate…

I’ll ‘fess up, I couldn’t resist a quick peek.
I was not disappointed..
“Not everybody has been in to space that works for NATO.”
And not everyone that works for NASA has driven a tank..
lmfao…