Member Info for SelfishMcNimby

GP, according to Graham Bull "The Cadeby is actually a reef which actually does produce gas elsewhere in the UK."
4:15 in:
https://www.share-talk.com/west-newton-a-2-what-you-are-looking-at-if-offshore-reserves-onshore-2-2-2/#gs.bp758o
It was given a 24% COS.
The RNS 17/6/19 stated:
'The Cadeby formation encountered hydrocarbon shows with an oil saturated core'

Ismalia, when you say Biscathorpe and North Kelsey are 'drill ready', do you mean a rig can just turn up and get on with it, or do you mean Egdon need to apply for Council planning permission, approval from the Health and Safety Executive, clearance from the Environment Agency and the go-ahead from the Oil and Gas Authority?

Ziquarat, that's the best post I've read for a long time.

https://twitter.com/UKIDannyboy/status/1284019987196317697

**** off Chrisoil you stupid ****** (w****r).

Before I go - thanks secretblueprint. My understanding is that Rathlin have nothing without West Newton, so the company would dissolve and distribute proceeds proportionately to stakeholders.

Whatever, Austin. I've had enough of muppets for one day. I'll leave this board to the pumpers and excitable novices.

Secretblueprint, both UJO and RBD will sell West Newton long before oil is commercially produced.

Mr.Investment. fool. I'd be surprised if I haven't got more shares than you, but I'm not interested in willy sizes. I suggest you keep a close eye on who's ramping this. When it looks too good to be true, it normally is. I don't know if you were around last November, but the same people appear to be in play again. Do some research rather than follow the herd.

I take it you can't explain then. lol

You refer to Wressle. How much is UJO's 40% of Wressle worth? I'll give you a clue - look at EDR & EOG market caps. They both have 30% of Wressle.
I'm not trying to put a damper on what a great day it's been for us, but facts need to be remembered or suddenly someone might dump on us.

MrInvestment, please explain your statement.

' RBD essentially have 3x the risk for a quarter of the reward.'

' RBD essentially have 3x the risk for a quarter of the reward.'

Please explain.

RBD are producing more from California than Wressle will produce for UJO. Biscathorpe may earn as much for UJO as Parta is likely to earn for RBD. All the other stuff is negligible really. It's all about West Newton, surely.

Why is the cameraman having some sort of seizure? Wish I could see a bit more detail tbh.

Mark, look up 'close period'.

'Not sure what point you are trying to make, other than splitting hairs.'

Look mate. It's really quite straightforward. Your post was misleading in so far as you listed 2 separate items on the financial position (which in effect are 1) to infer there were millions of pounds more in the coffers than there actually are. It's not splitting hairs - there are, believe it or not, UJO shareholders who believe all the drills at West Newton are paid for AND there is £5m in the bank. You are either one of them or you are trying to con other investors.

You're absolutely right on two counts - it was taken from a UJO RNS, and no placing is needed to meet current commitments (for this year as outlined by UJO previously). But you are wrong in stating that current commitments are the same as expected costs. Very different. As you've brought it up, as an example I will point out that admin costs are not included - £1.6m for 2019 I believe.

I'm struggling to understand what you mean gkb47, but I'll say something that I hope answers your question.

Using your post:

Financial Highlights

· Fully funded for all current drilling and well testing commitments
BECAUSE THEY HAVE A
· Cash balance in excess of £5.5 million as at 1 May 2020

In other words, the funding for their current drilling and testing commitments will come from the £5.5m cash in the bank as of 1/5/20.
Your post inferred they'd already set aside the funding for the current drilling and testing commitments AND they'd got £5.5m in the bank, which would be misleading.

I will just clarify gkb47, that the cash balance of £5.5m is there to fund the current drilling and testing commitments. There's not another load of cash sitting somewhere else for the current drill and test costs.

You're ribbing me, ribeye.

North Cadeby, south of West Cadeby, referred to by spike501.