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More placing confetti following clear statements of “fully funded”, at all time share price low.
Only way to make money on stocks like this is to play the cycles and don’t listen to the rampers / LTH faithfuls.
Don’t forget, £1.04 million is due out on first oil at Wressle. No allocation of this today.....
Working capital = cash burn (and salaries)
Best of luck all
MrB. You state “Look back through the previous RNS's. Does it state that ANY placing was used to finance salaries? NO.”
Running any company costs money to keep the lights on. Last year UJO had circa £750k administration expenses with £205k on staff salaries.
Total revenue for the period was £46k.
Please enlighten the bb how salaries were paid for.......
Bisc was by no means a straightforward appraisal well, hence Egdons exploration label (with 40% cos) and struggle over the years trying to farm down before committing to a drill. Only when UJO and Humber (with their incredible insights and mapping skills) bought more of the prospect enabling Egdon to go ahead and drill.
I hope some listened to prior warnings and played the spike from 0.1 - 0.15, nice easy 50% there if you play the game, ignored the outrageous ramps and the homemade “so called geo expert” LOL with his googling and communication from UJOs whispers to this bb / Twitter. A little knowledge sure is a dangerous thing....
Not to worry, it’s WN next to repeat and rinse, no doubt Green Dave will be baffling all with his knowledge and strong buy recommendations whilst Kums acknowledges every tick-up.
I won’t be buying again until the dust has settled.....
Anyone reading this BB would think that success is a given, well believe me it’s not.
Bisc has a 40 percent chance of success, and even if it’s a “success” it will be many years before revenues are realised in this UK O&G climate. And of course, and development will require funding!
Look at the Wressle project for example, spud in 2014 and “possible” production in 2020! (Which also requires development funding).
As I’ve said all along, there is money to be made on the build up, however, don’t get left holding the baby when the experienced players and big money play the cycle back down whilst the LTHs continue to post “amazing” research links LOL
All IMO and always DYOR
Mix. In regards to communication with the names mentioned below on social media, you asked: “As for communicating on social media what are you on about”
Well, here is one of your many posts:
https://mobile.twitter.com/MightyBelle68/status/1059385330405584896
Be very wary folks, DYOR and ATB.....
Mix. You’re very naive, hence buying shares pre float which have been hugely diluted. I note your communication with the names mentioned below on social media, more nativity and inexperience. You should use others experience to learn and better yourself instead of lashing out your verbal abuse.
As for being caught out, you mean when I correctly predicted the placings and ridiculed the share predictions here of 1pps - 4pps by the end of this year? Hopefully the silent readers now appreciate me doing so.....
Be very wary indeed..... 9 billion shares in issue and now the presence of C Oil and BMD etc. Not to mention the blind LTH faithfuls, who have fallen in love with the stock and are massively underwater. One can make money here but don’t get left holding the baby.....IMHO & DYOR
AZ. SP Angel (one of the worst IMO) don’t buy or sell shares. But hmmm I wonder if their “friends” do??? Just look who is tipping / involved recently (after months of heavy selling). If you have any experience, you will acknowledge that investor here have been played, big time……
All IMO and DYOR
Mix. I see your extra curricular isn't helping yet, hopefully it will in time.
Let me see if I can help you with your below question:
"Can someone tell me how a stock gets diluted when you add more value to it????"
You should be able to relate to this one, considering you bought shares pre float at 0.4p.
The last placing yesterday was at 0.085p
And all the incredible value since pre float...
Interesting write up from Egdon’s RNS this morning. In relation to UJO, and IF Holmwood gets drilled later this year / early next, then North Kelsey & Fiskerton and Keddington all require funding. So the perfect strategy is to sell the Bisc spike when it happens and buy back when the jam tomorrow story continues its cycle. Possible Income from Wressle appears to be continually pushed back, worth bearing in mind debt repayments when the details are released too.
I will buy more with the above strategy in mind, but not yet, November Bisc drilling is probable, so fully expecting a raid by the bears before hand....
Wressle:
“Whilst we will maximise our efforts to convince the planning officers and, more importantly, members of the NLC Planning Committee of the clear merits of our new application, our recent experiences with NLC means we have to remain fully prepared to take this new application through another appeal process.”
North Kelsey:
“we are finalising the application for the Environmental Permit and continue to seek further farminees for North Kelsey-1 which we hope to drill during H1 2019.”
Fiskerton and Keddington:
“Oil production continues at Fiskerton Airfield (25-27 bopd gross) and Keddington (20-24 bopd gross). Additional intervention is being considered in the Fiskerton Airfield FA-1 well for early 2019 and we continue to review the possibility of further sidetrack drilling at Keddington.”
All IMO and DYOR
Eldo. Absolutely, I mentioned many months ago about the BoD looking at other assets and diversifying. Instead, they chose to buy more of Egdon's assets.
There have been many mistakes along the way and ultimately the BoD are judged on share price performance / value for investors.
The fact is UJO are 70% down since listing.
All IMO and DYOR
Rude. As you see below, this is Mix's usual (uneducated) style. Scroll back and read his / hers posts and you will clearly see which are copied and pasted or taken from the BoD. Sharing research is a good for all, but it's proper etiquette to state where it's copied from.......
Mix. I don't think you've called anything out, more you're in communication with the BoD and you're relaying (sometimes copy and pasting) the information here. It's proper etiquette to acknowledge the source.
In your communications, have you found who is the background seller? And any info on the debt finance terms? Markets don't like uncertainty....
Eldo. Maybe but if history is anything to go by, hence keeping my powder dry.
Europa estimating Q2 2019 for production. Bank of America Merrill Lynch are predicting $90 Poo in Q2 2019.
You're right about nobody ever wants to listen to the reasoned voice, they would much rather hear ramping BS.
Also, I'm not so sure about placing churn, why wouldn't they wait until Bisc drilling to flip at higher levels? Just a thought....
Score. Patience, turn off from the screen until Bisc (Autumn now?) or Wressle (Q2 2019 now?) the Jam gets pushed back but both will happen.
Also, don't listen to the blatant ramps here or on Twitter, you'll only ever be disappointed.