Member Info for spike501

BBN - noticed your post on AMER, I also sold out today and used the proceeds to up my stake here.

"I hope you have your correct details registered here spike"

Why? What does it matter to you?

"Are you a MM? or working for MM's? They seem desperate for shares then you show up. Offering financial advice does it come with a compensation scheme?"

Does your mother know you are on the internet?

Its very clear the board want a cash offer - they want out. GTE have enough on their plate, they were never likely to be a bidder here.

If they are recommending a 19.2p cash per share, where is anyone going to come in at 25p?

ColonelDrake - was this the imminent news your contact informed you of?

Liberator isn’t particularly deep and the first we’ll only took 19 days between spud and updating the market so I’m rather expecting the last week of November

“probably worth nothing how vital Kraken is to enq - it is their single biggest asset heavy oil producing”

Approved and half way through development when oil prices crashed - Kraken very nearly finished Enquest, it’s highly unlikely it would have been sanctioned in today’s oil price environment.

Bressay was shelved and Bentley took XEL under and no one seems interested since.

Tullow need to regain investor credibility and cautiously invest their capital to drive near term production. That won't happen by chasing a heavy oil play.

"but I’ll be shocked if jethro isn’t commercial."

Jethro is highly likely to be commercial on paper, but the chances of Tullow who have all number of issues diving into a technically challenging, high CAPEX heavy oil play in the near future when they are simply not a heavy oil producer is absolutely remote.

The drop isn't just about commerciality, its about timeframes and Ecos absolute reliance on other partners to move this project forward in the near term which has now been substantially put at risk. 15% of an oilfield that may not be developed of the next decade is going to attract very little valuation and this is now back to a high risk play that the cretaceous is light oil bearing.

If it’s API as low as in the 10-15 API range that is a massive blow and I think it’s a disgrace Eco didn’t release that info in the RNS this morning but instead benchmarked it to the likes of Gulf Mexico where Maya crude has a much more manageable 22 API

Oiler - fair dos, I take my post back.

"The catcher project cost $1.6 billion to sanction and this was for 96mmboe, WN is 180mmboe"

Apples and pears - Catcher is 98mmboe 2P reserves, WN 180mmbe oil in place, Catcher will ultimately likely recover 4-5 times more than West Newton based upon current mean case, assuming it flows.

WN is a great asset, but making bogus comparisons doesn't do anyone any favours.

"bargain basement! read the ceo comments I suggest one pound"

What do you expect him to say - we've found heavy oil so we're going to pack up and go home?

Do you have a link BTW

Well, well, well (well)

0.51% isn't particularly sour - the RNS references Gulf of Mexico, where Maya crude is 22 API and Sulphur content 3.5%.

I'd rather the management team focussed on the operational side than waste time and money on advisors and lawyers to do a share consolidation which won't make too much difference - short of taking substantial liquidity out the stock which will end up being a negative for holders it won't make much difference at this stage - nothing is happening for a few weeks so short terms and traders will move elsewhere.

If you're invested for the value you believe the company can bring in the longer term then a few swings in the short term is irrelevant - if you're hoping to make short term gains measured in weeks and months then you're also just a speculator anyway (nothing wrong with this).

Agreed - I think part of the drop in the SP is that there was still no update on the EWT so short term traders have gone elsewhere. They have time to comeback.

Flow test success would be the next material rerate.

“
So, based on the published table the base case of 140mmbl is worth an uplift to UJO of 2.2p per share and the 280mmbl is worth an uplift to UJO shares of 4.5p - the current share price ”

These are all oil in place figures so you share price assumptions are way off.

SP Angel note on the Union Jack website today has a target price of 0.86p and useful breakdown of calculation- worth starting there

"We can see that Union Jack Oil does have institutional investors; and they hold 57% of the stock."

Unfortunately this is misleading - all the institutional investors are simply nominee accounts, i.e. ultimately its private holders.

http://unionjackoil.com/wp-content/uploads/2019/11/UJOWestNewtonSWs.pdf