Member Info for Rudey

If I had received the placing documents, then dishonestly posted on this bb that I had spoken to the BoD and stated that they had assured me there would be no placing in the short/medium term (whilst selling my existing shareholding as quickly as I could), then, after I was sold out a couple of days later I had announced on this bb that there would now be a placing (in order to encourage mass selling so as to force a lower placing price), KNOWING I could replace my shareholding considerably cheaper than I had just sold it for, I would now be BRICKING IT...…..especially when bearing in mind DB has a High Court Judge Order to track me down.

Isdeer, I can only speak from my own experience. The lowest was £10k - that was a few years ago. It may vary between brokerages, I don't know.

'Union Jack has raised £5m at 0.15p/share for drilling 2 appraisal wells at West Newton and other high impact work programmes. With the recent high of 26p just think what the raise might have been done at if it hadn’t been telegraphed all round the market, some short closing going on here methinks…Whatever, the strategy it doesnt take away from the massive value at West Newton for UJO and Reabold.'

Isdeer, you posted:

'those that were in from the start of the WN journey, took all the risk and held throughout all the share manipulation and dodgy trading didnt get the opportunity to buy any of the 5M share offering at discounted rates'

Of course you had the opportunity to participate in the placing. We all did. You just had to contact SP Angel (I presume as they are Union Jack's brokers) to find out how to do it, complete loads of forms, pass the vetting process, sign a contract and come up with the cash.

Oiler, you say LTH have been taken for a ride. Yes, a ride from 0.075p and market cap below £5m a few months ago, to 0.16p and market cap of £20m now. When the dust settles we all know the sp will be back over 0.3p with a market cap over £50m. That's the sort of ride I like to go on.

Getting such a big placing away in the market in these circumstances is a significant achievement. We are now fully funded beyond the immediate programme through to the sale of West Newton. Even though the placing price was stuffed by the person who leaked the placing on this bb, the hand brake should now be taken off, and we'll soon be back to reality.
This placing is hugely positive.

Personally I've never lost confidence Stocktaker, neither in Union Jack nor the assets. We'll know about the funding if and when it is concluded. I'm sure it won't be long. I'm not desperate to sell since I'm holding 'til West Newton is sold off, so as far as I'm concerned it will take as long as is necessary and I'm not anxious to know.

Manwithplan
'Wressle is a done deal and nothing will happen there until the council declare their decision, after the election.'

I will just point out that it isn't the council who are deciding Wressle - it's out of their hands and they presented no case. It's being decided by the Planning Inspectorate, who use facts as opposed to union or party allegiances before coming to a ruling - big difference, and the council have already agreed a figure for Egdon's costs.
Clearly, according to reports on twitter anyway, as far as West Newton is concerned the EWT is paused while a permit for the installation of oil testing equipment is sought from the Environment Agency. I don't know if you've looked at the existing document, but it is very lengthy and detailed. Since oil was not going to be tested initially (because it was thought to be deeper than the well was going to be drilled), it wasn't included. When it was found to be in apparent abundance, a new permit was applied for, but these things are not granted overnight. No doubt all parties are raring to get on with it.
From what Egdon recently said, a plan for Biscathorpe is being put together, but results are still being poured over.
You have to remember that Union Jack are not operator of West Newton, Biscathorpe or Wressle, and cannot independently update the market, even if David Bramhill anted to.

I didn't Lucky. I expected this Wednesday when I first read Decision's 'No placing' post.

I reckon Wednesday.

He can't give an update during a bidding process!

CaptainStanley
'their will be strong market interest forcing a higher share price '
I'm not sure I am saying that to be honest. Getting the placing fulfilled as the market stands will be an achievement - I'd guess around 0.15 to 0.16.

Crocqman, 'Decision' stated it was a book build, and since it has been reported he gave out inside information, I would imagine he was right about that. I completely agree with your range (0.15 to 0.18) and that they will want sticky hands.

Fairview, participants will be bidding against each other. I don't think they will feel they stand a chance of getting any shares if they only offer 0.05. If not enough bids come in to cover the full £5m, or there are too many silly low bids I'm sure DB will only select enough bids to cover the full costs for West Newton, and put Biscathorpe and Wressle off for a while (unless there are immediate plans to progress them).

Lucky, during a fundraise DB can say nothing. Anything he were to say could disadvantage those who have already made their offers, to the advantage of those who are about to.

Fairview
'What about the several weeks before that when we were in the low to mid 0.20s?'
DB wasn't doing a placing then. It seems he was waiting for the volumetrics to be released for a boost to the share price to nearer 0.3. Sadly a big seller took advantage of the rise and stuffed the share price.

'What about the fact the sp has been subjected to illegal manipulation by insiders?'
What can DB do about this, other than launch an investigation or report it to the FCA? Once the placing was offered, it couldn't be withdrawn. Institutional investors would never touch UJO again!

'If DB wants to come out of this with credibility he needs to take a firm line and not accept some lowball offer. We are not in a cash crunch.'
Clearly the operator has made it clear JV partners need to prove they can stump up the cash going forward, probably concerned that Humber won't do to Rathlin what they appear to have done to Egdon. He will have to take what he can get - he has no choice, but getting it done is crucial.

Fairview, for much of last week when DB was talking to prospective participants the share price was nearer 0.15, so personally I think it will be nearer that figure.

When there is something to report, he'll report it. Otherwise he'll just be repeating things that are already in the public domain.

But what information exactly has been released Gonzalez?

Yes, that was released by RNS in August. This is how information should be released Gonzalez. There is nothing wrong with that.

I'm not bickering, just asking for facts. 45m oil column? Where did you see that, and when?