Member Info for VerbierDave

I believe EOG are actually a 30% holder in Wressel, and you could have a point that they are thinking to get the raise done before the UJO Wessel CPR comes out to help them churn through placing shares but then I also wonder why they didn't wait for the CPR to come out and then use that for an RBL. The only other thought is that UJO will wait until the gas to electric is finalised to then open up the choke and find the stable rate before finalising the CPR so that could be a few further weeks or even months hence why they went for a placing. BWTFDIK

I just added two more buys and managed to get them at 2.98 and showing on here as sells. Another 15 or 20% would be amazing before the CPR is released by UJO and then some movement on the fracking laws should hopefully have us up in the 15p area.

If they change the ruling on Shale gas EDR re-rates overnight and this will go crazy!!

It will be interesting to see where it ends up when the CPR is released by UJO.

It looks like someone is loading up today as we have just broke through 3.1p and it keeps going up. As I write up 19.2% on the day. I wonder if there is something going on about the fracking regulations?

I added a really good chunk of just over a million shares to my EDR holding today which takes me to around 3m at an average of 2.177. I sold out of UJO with a very healthy 65% profit as I have a feeling they are going to struggle to churn through placing shares from the last placing at 22p and it will be held for a while.
I think here there is some great scope for upside when UJO release the long awaited CPR and then a massive catapult if there is a go-ahead on fracking not to mention other bits like planning consent at Bisc etc. Also I just like the fact that there's a lot less drama on this board.

Come on then Royoboy - fill us with your pearls of wisdom...... We all know you're up to your neck in it because you do nothing but cry about it. Your anger to the company tells me everything I need to know about your investment strategy. All in from day one with nothing left to do anything different but cry about your losses. Everyones fault but your own

However there is also another aspect to risk management where if you believe in your research but just got caught out by an ars hole trashing the SP by releasing a fundraise early to the market then average down especially when knowing it now has an income source that means there won't need to be further fund raises. I averaged down and for me this is now a no brainer.
We owe 2mil for Wessel but then we are owed 1.2m from a loan so would still have circa 6m in cash minimum with no debt.
It's also looking favourable that there will be pressure from the government to approve planning at Bisc and West N given the recent change of view to the requirement of oil and gas from our own sources whilst transiting to 'Net Zero'.

So risk management and averaging down to 17.5p means that quids in when the CPR and Planning get pushed through.

Bad risk management is sitting on losses and doing nothing about it whilst also ****ging the company off and filling these boards with negativity because you never kept any powder dry to do something about it.

I think there must be a big buy order being filled in the background 16 on the ask now. Has anyone got eyes on level 2?

The year before covid would anyone on the planet have predicted the lows that Brent dropped to?....... absolutely nobody and that's the simple answer. Trying to forecast a year in advance is all just guess work and predicting what the fundamentals should do based on what information you have on that date in time that you make the guesstimate. Beyond that there are too many variables and people will always use it against you if you're $5 out so it's just not worth it.

I agree with what RNST said about the SP not moving now until we get the CPR, that is unless we get some surprise news about one of the planning applications or something else crazy like an offer to buy one of our assets. I was hoping that we would be around the 18p mark before the CPR and then for it to have a nice boost but alas here we sit.

Itsawrap - I think you do come out with some very good points about inflation etc but there are things the UK government could do to negate this if they allowed more drilling on/offshore uk. They could give tax relief to the UK producers if they sold the oil and gas to domestic supply and capped the price that energy suppliers sold in to the end user (there are caps in place at the moment until April that have caused a lot of the energy suppliers to go bankrupt due to overseas supply costs).
This could then lower the cost to produce goods domestically and allow the UK to be selective on which overseas goods they import. By making it cheaper to produce goods in the UK would also be good for unemployment figures and income tax going back into the system.
I can't remember who but someone wrote a good post about this in here the other day. There are ways around these things but the UK government has to just have the courage to realise the green agenda cannot be reached at the speed the targets have been set without punishing the general public with high import costs of foreign fuel and goods imports.

Lucy - I don't actually think that is the case - if you mentioned Gas prices dropping (I doubt like a stone) off then I could understand.
The oil price being where it is at the moment is due to corona and diversification by oilers. Corona has impacted due to the POO dropping like a stone when the world came to a standstill and majors not investing back into felids (wells and fields need maintenance all the time to stop the recoverable rates diminishing). Due to this the supply has dropped off and will take several years to get back to where it was. Add to this, Majors diversifying into green energy and that speed of returning back to previous levels is slow.
The problem being is the world population opening back up after corona and the hunger for global goods and travel will be dramatically faster than the ability to bring the supply back up to the required levels.

There are way more problems than just Russia....
Add to that and the negotiations between the west and Iran going nowhere means Iran isn't pumping. Internal issues in Libya/Egypt/Kazakh, export pipelines being blown up in Kirkuk (Iraq) by IS that goes to Turkey and then on to ports and then the threats of sanctions on Russia and conflict in the Black Sea (Nato v Russia) and the oil/gas supplies that come from there it all just adds to the the stresses on the supply chain.

TBH this is just basic supply and demand - Heid, love her or hate her has been banging on about this for weeks but to be honest it's just basics.

If Russia does invade Ukraine and Nato get involved Oil/gas and gold will go through the roof as well as the Swiss franc as people look for safe havens, most other stocks will get dumped as as people panic.

Just my opinion but tbh it's basic economics

Chitty - I don't deny that in the slightest, there has been ramping and and bashing of this share beyond belief whilst the other JV partners SP's have quietly risen. However the insults by some just go too far and distract what this forum is supposed be for whilst also potentially scaring off potential investors.

Some fond memories of Old Collage ;-)

You won't wind me up - I have all the patients in the world, alas why I'm not crying about the SP everyday.

However, you are just showing how uncouth you are by disrespecting all that have served to protect the freedoms of others by paying the ultimate sacrifice.

Royoboy - I guess that must make you Roy Cropper - you're about as funny as haemorrhoids

Pers - neither of those x6 operational and the Jubilee

Micky - they have nothing to do with the SP apart from pointing out that calling anyone that doesn't agree with bullying on the board a lefty whimp or snow flake.

Persimmon - It amuses me that when you have nothing intelligent to say it has to revert insults and insinuations, 'lefty wimps' as you put it I am not and have seven medals for service to Queen and Country to prove it. Social media bullies have no space on this board and if we just stuck to talking about the company there would be no need for remarks that insult or bully people.

'By the way I think Heid is thick skinned enough to stand her own corner.'

And there lays the problem, you 'think' but you don't actually know unless you have a personal relationship with that person. For all you know she could be on the edge of suicide from all the stick she gets on here. I would agree that it seems as though she can handle it but presumption is two thirds of all F ups.

So as Milnrowmug suggested can we stick to discussing the company and hopefully a successful time ahead that we all benefit from, sharing knowledge of the company.

Persimmon- I’m far from a snow flake as you put it after working over 30 years in the most hostile countries on the planet, but I do understand the law a little better than some it seems and royoboy is dancing a fine line. And the pathetic excuse of I’m posting to a username not a person is laughable - especially after the screams for an investigation into users of social media platforms trashing the share holder value.

Royoboy - I think you really need to be careful with what you post because whether people like what Heid posts about the company or not you are now insinuating physical harm towards her and she could well get you banned or an actual injunction against you.