Member Info for Uggy100

GP, you're probably right.
To me it just highlights the utter incompetence that prevails in Government dept's in the UK.

Sujood
There's no sp because we're starved of news on whats goiing on. All jv partners in WN project are now having credibility issues. Why invest or top up when nobody knows what is going on timewise

Nothing like issuing a decent rns on a bad day for global markets im afraid.

Maybe, our dynamic duo will have credibility issues soon after the massive porkie they told on timings for WN if they're not careful.
Less stage managed podcasts & more engagement with their shareholders is required.

I've been involved in a couple of consolidations & they most certainly did not go well, it's anathema for smaller companies imo.
As for the fundraising well I doubt UJO had much choice but to go to the market after RBD had raised a substantial amount (once again leaked & heavily discounted) it was always going to be disastrous. As all parties were fully funded for the EWT I think it was folly to raise when they did, far better to wait for a (hopefully successful) EWT thereby de-risking the project further giving a higher sp & less dilution. None of the JV partners have covered themselves in glory tbh, although RBD did get a bigger slice of the pie.
I've seen a number of posts regarding WN as being a foregone conclusion here, no water, 1000 bopd flow rates etc. this is absolute rubbish, the whole point of an EWT is to establish if it's a goer.

None

passiton

Your post of 16.13 is possibly the most disrespectful I've ever seen. You should be ashamed of yourself.

chrishutch.
Your thoughts/ramblings are purely as a result of the level you brought back in at. Nothing more, nothing less. I'm still disgusted by Batman & Robins book build diluting shareholders whilst the EWT & B1 were already funded. Of course further funds were going to be required but they could have been raised at a far higher level & when the project had been further derisked. You're a short term trader & I couldn't care less about your thoughts, none of which are based on any factual information. Jog on.

I was thinking around $20 for production costs,it's an onshore field after all.

Yes, just a shame that RBD raised funds to accelerate the project which immediately went into hibernation mode.

I'm not sure how anybody could think this sp would rocket, after a necessary but disastrous placing there are so many 5-10%ers this company is going to be played like a fiddle. A sad indictment on human nature I'm afraid. Too many shares in the hands of day traders & short termers.

Aren't they just logs of the original drill ?

If WN is successfully proved up we won't get a sniff of Ellerby & Spring Hills. The asset will besold off asap.

Gwynwyn

A small cap oiler would normally be valued on a p/e of about 5 (PMO is a mid cap & valued at 8 times) The cash we have is earmarked for ongoing work programmes. On that basis off the back of Wressle we're underpinned at 15mil or so giving an EV on the other projects of 10mil at the current sp.

Secret I'm sure that's what caused the delay (still ongoing) It's also possible that the fund raisings may have caused delays too.
Isn't there a Rathlin liason committee due soon ? We'll find out more from that than the JV partners will tell us.

Well I have to say I'm a bit miffed myself !

Well its only the 6th Jan but we already have a candidate for the most underwhelming rns of the year!

Me too Barking but we surely must be getting it shortly. An update on Cali in general would be nice at the same time as we're none the wiser on the MS flow rates either.

Ok Iceman I'll call your bluff. Name one.

Yep Royoboy quite ribht. Its unfortunate that UJO has become a pumper & dumpers paradise. True value will now only be realised on the sale of WN imo, Wressle helps underpin tbe sp to a degree, Bisc still requires a lot of work which may or may not be succesful. Progress will be stymied by the actions of scum like Heid & co.