Member Info for steve58

Just had e mail from company.

They can now produce three residential properties a day using their technology.

Potentially thousands of houses for social housing requirements in the country.

See Building Construction magazine.

Looks ripe for that ipo imo.

The quicker this gets done the quicker we get a return on our shares.

5p.

About £750 million mc.

Probably need about 5000 barrels a day production to achieve that sort of mc.

Only 4930 barrels a day increase needed.

A few Wells in full production could easily achieve this.

If memory serves me right.

Once this is sold the company has no investments therefore will then have six months from sale date to implement another investment rto etc or the shares will be suspended.

They then have a further six months before they are delisted.

The problem is we are still owed $15 million from our Ruvuma disposal which could take years to receive.

The easiest way is to do a voluntary liquidation whereby any cash left and future receivables will be distributed to shareholders as and when received.

Not at all surprised.

Staying on long enough for his payoff.

Why did he wait this long.

All to save cash.

What a joke.

We

If they can build a sizeable stake and double their investment why not.

Let's just hope they can sort the well out and increase production.

Could be a buy or a sell.

Hope it was a buy.

UJO stake building!

Everything is always conditional.

Not really worth doing the RNS this morning.

Probably just to tell shareholders that things are still moving. Q1 2024. I will believe it when I see the RNS.

Basically company had to say something to reassure shareholders that project is still on course.

Doesn’t really change a thing imo.

Could be six months until suspension and then six months later delisting.

Worst interview in ages. Seemed downbeat and spent most of it looking down instead of at the camera. A worried man look.

Should be increasing from now onwards due to ongoing clean up of well.

As I've said previously about £20k annual income for every additional barrel of oil flowing every day.

We might get something even if output has gone up a few barrels a day.

£20k income a year for every additional barrel produced.

If it is their fault then maybe they would reduce cost of next drill accordingly.

Could be covered by insurance although probably too high a premium given a long list of things that can go wrong when drilling.

Maybe a snippet of news regarding increased flow rates. I wouldn't think an extra 10 barrels a day would amount to price sensitive information.

Not the rns we wanted.

Yet another presentation waffling on about the same he has been for months if not years.

We have to hope financing is sorted before the presentation.

Thanks for that.

I think it all boils down to the aborted one dyas deal which imo should have gone ahead and made millions in profits since.

What a pity the board basically **** their pants over it.

Looks like a completely new holding not UJO.

Interesting development.

Probably on anticipation of the potential increase in production.

May come good here eventually.

10 years and thousands lost with little chance of breaking even.

Good luck anyway.

As I said in an earlier post.

Every additional barrel a day equates to £20k income a year.

Although we all want 900 barrels a day or more even 200 plus would be a good start.

Could be ujo.