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Oh dear, surly not history repeating itself again here with yet another leaked placing, extremely poor management and lack of support for shareholders?
Tried to warn folk here a few years back that this lifestyle company would simply rinse and repeat with promise of jam tomorrow.
Unfortunately these warning fell on death ears and were heavily defended by the UJO faithful - Sound familiar?
Brokers like SP Angel release new targets, “friendly” DB gives snippets of info to certain posters on Twitter, one ramps Biscathorpe and the other ramps Broughton North whilst the resident ramper on LSE ramps anything it can.
They are costing investors, and especially the silent novice investor, their hard earned money. They simply have no shame….
Mr Investment, speaking of scumbags, your statement below is utter nonsense and clearly disgraceful ramping:
“Delay from Q3-Q4 was due to difficulty constraining it to 500bopd as it flowed at nearly double that... planning documents to allow 800bopd already drawn up and waiting to be submitted, if approved it’s just a case of opening the tap.”
Wressle flowed total approx. 700bopd from THREE intervals. Only ONE interval is going into production, which is The Ashover Grit.
This measured flow rates of 80bopd during EWT. The 500bopd is only “estimated” at this stage. This indicative estimate is providing the skin factor can be overcome.
Those who live in glass houses.....
Evening Mix, you’re now stating to forget about Humber after spending months ramping a mid-tier merger with Humber.
Can you remember when I dismissed it as utter garbage?
Let’s just hope the silent less experienced readers don’t loss money listening to you....
Ginge, keep up the realism (this bb needs it more than most).
ATB and BW for 2020
“You clearly don't get your figures from the UJO accounts then, Lucky. Who do you refer to? Lala from the Teletubbies?”
Well according to Unaudited Results for the Six Months Ended 30 June 2019, £100k per month cash burn is pretty accurate...
http://unionjackoil.com/wp-content/uploads/2019/09/2019-09-23-Union-Jack-Oil-Interims-2019-RNSv24.pdf
Mix. This comment coming from you with your excellent google research...
I remember your history well, COIL was the best thing since sliced bread - what happened there?
The Humber UJO merge to form a mid-tier company - what happened there?
You bought your UJO shares when they listed at .25pps, no the wisest of moves hey?
Experience pays.....
ATB
Oiler. There’s no value in being a LTH in stocks like this, it’s all about playing the cycles to make your profits. UJO were always planning a placing, hence the amazing PowerPoints and “trillion dollar well” BS. Oh and have you checked back to see how many shares the BOD have bought on the open market? Worth doing!!
ATB
AJamesW
Posted in: UJO
Posts: 3,453
Price: 0.233
Strong Buy
RE: Strong buy to 0.66
28 Oct 2019 12:58
“Then you had better re-read the recent RNS regarding UJO RNS placings and also the repeated statements that UJO place once a year for the next years projects.
Fully funded for EWT for WN, fully funded for the first Production well in West Newton as it other investment.
Share price going up as RBD obtains is cash.”
This was a response from another “so called industry expert” when I predicted an upcoming placing in October.
DB was doing the rounds with incredible PowerPoints, “trillion dollar well” and “Huge Dividends” pure BS whilst this was being pumped and then dumped by the usual suspects....
Play the cycles and be very wary of the rampers...
“500-700bpd is just the start and if you paid any attention to ERD and UJO you would know it is capable of producing into the 1000's with one additional well”
The Ashover Grit interval measured flow rates of 80bopd during EWT. The 500bopd is only “estimated” at this stage. This indicative estimate is providing the skin factor can be overcome.
“Biscathorpe will be side-tracked before Q2”
let’s see about that! Providing EDR decide a forward drilling plan, FULL PLANNING PERMISSION IS REQUIRED!
“West newton and that is a giant onshore oil and gas field”
There have always been doubts on WN flowing commercially, the proof is in the pudding as they say.
Heid, you keep up your, quite frankly - sickly ramping.
I’ll continue to post facts, facts that the silent reader should be aware of rather than your “three rolls of the dice coming up”, attempts to con investors who aren’t as educated or experienced as others in this industry.
Wressle will get permission this time round imho. However, the future for O&G UK onshore whether it’s fracking, or not, is a pretty grim picture.
Wressle to UJO is not a game-maker, it keeps the lights on whilst playing a part in limiting future placings. Don’t forget if Wressle is approved then UJO have to find funds -start up costs and the £1.04 million for additional percentage.
Biscathorpe is more hot air. EDR are the operator, and IF (yes IF) they decide the project requires additional work, ie side track etc, then EDR require full permission - including planning permission! Now, how many years is that away from adding value, if any at all???
That’s according to SP Angel, not Proactive.
Now I wonder if SP Angel have knowledge of any possible upcoming placings as UJO’s broker? I see UJO are busy doing the rounds presenting amazing PowerPoints. Usually a telling sign....
How many shares has DB bought on the open market? Yep exactly!
UJO a typical trading share, full of hot air, constant “presentations” (leading to placings) and outrageous ramping.
This creates opportunity to trade the cycles.
Take ongoing Biscathorpe ramps as an example. IF (yes if) Egdon decide to side track, then full consent is required including planning permission! How many years is that away from providing value?
If Wressle is given the green light next month, production timeline is summer 2020. UJO still need to raise funds for their additional 12.5%, whereas EDR and EOG don’t, the market and traders are aware of this....
Don’t forget the additional 12.5% stake at Wressle still requires funding:
“The Acquisition structure is attractive and involves no initial cash consideration. The Deferred Consideration of £1.04 million is conditional on establishing first commercial oil production at Wressle”
http://unionjackoil.com/wp-content/uploads/2018/06/Acquisition-of-Additional-Interest-in-Wressle-FINAL-clean.pdf