Member Info for Vernony

That is more like it, they now have a workable percentage of a proven oil field. The SP ought to rise to reflect that, but with so many cheap shares about then there will be profit taking, causing the SP fo fluctuate widely, but it should edge up gradually as the immediate profit takers are squeezed out

Yep I think that there has to be a consolidation at some point down the line otherwise this share would never get off of the ground.Barring the unknown then next hike in the share should be around about the end of July by which time the 13 weeks will have elapsed in which the Council has to reply

Just a year or so back, this share was set month on month between 12 and 13 pps, it was only the failed PPs which set it back. So I would guess that the market values it, pre production, at 12 to 13 pps so it ought really return there and settle down awaiting more news

This company does not have any major holdings but it has a lot of minor holdings spread around with 3 to 4 of those expected to pronounce on their plus or minus commercial viability by the end of this year, so it is entering a potentially exciting era. But, at its present SP it can be brought up for a relative song in take-over terms. I think that they maybe vulnerable. Any investment house reading this take heed of my little ramp, it won't be this cheap again this year

Dear Whally, a 1400 ft deep drill is a vertical drill and they test at target levels as it goes through. A side track well is a bore hole, as the name suggests, that is near horizontally bored track from out of the main vertical bore hole. I know English is a difficult language for some, which leads to misunderstandings about RNSs . Mind you the RNS's need a bit of polishing. I note that they claim to have proved that there is a continuous oil field from BB to HH. They have proved nothing of the sort and short of drilling down every mile, or so between the two, then they have no way of knowing if it is continuous. They are guessing that it is, but that appears to be presented as a 'fact' in the RNS.. tut tut !

Glad we have a real expert (you to advise us all) The exploration at BB produced nothing commercial at all. Plenty indications, but the oil would just run in commercial quantities. Yes they wasted money trying to prove that it was a continuous and flowing oil field right up to HH. That was something that could have been looked into after HH was flowing. Instead they have gone for dilution of the shares, which you seem to approve of ! ?

And, I am sure that you will :)) I understood that they did two straight holes and two side tracks at BB. One (BB1) was a straight drill and a side track. However, the side track was washed out. So they started a new well at BBZ1 and put a side track through about 60 ft away from the BB1 sidetrack. It got the same indications as the good bits of BB1, but no appreciable amounts of oil flowed from any of them. Waste of time, waste of money, and has got the company in debt, from which it may not recover A. Strong wait and see !

I think Princess Anne had a very good idea when she suggested that every community should take just a few more houses

Perhaps it would be better invest in the backers for these loans, they will probably end up with the company anyway :))

I do object to everytime I log on that I am presented with adds from Google, and now they seem to be in here too. There is a fortune to be made for somebody who can invent a programme that filters Google adds

Problem is that the Council appears to be comprised of left wing people envious of anybody who may make money. I don't know how they think their 'expenses are funded', nor their private occupations. Of course they are quite happy to fill up their own cars with petrol, and cook by gas, or even to hop on aircraft for their annual holidays perhaps even take a cruise if they can afford it. So in their unbalanced way, they will continue to try to thwart it. I suspect soon, that they may say that Wressle is the site where gnats gather for their annual Christmas dinner, therefore is a site of special scientific interest !

With politicians these days is that nobody has the guts to do what is right anymore and if they try they are savaged by the press. The UK desperately needs a home grown energy supply, every knows it. So onshore oil/shale fields, on the basis of needs were required yesterday. It is 7 years since shale was first drilled for and we don't have enough gas for a cigarette lighter. We were threatened just two weeks ago with the possibility of a conflagration in the Middle East, but oil fields are help up everywhere with councils playing politics over and above the needs of the country. Seems it is government by Laura Kussenburg !

?Joke ?

Not necessarily 'piddling' amounts, a sale could represent a broker, who could not, or does not hold enough shares, to meet a clients demand and they have to buy a few on the open market !

It does not have to double to take a profit, depends how many shares that you have and what your strategy is. Probably people in here who have lots of shares spread across AIM and they buy and sell on narrow margins, but it all adds up to a profit overall. This particular company has been at the lower below a penny a share and that has enabled people to buy 10,000,000 shares for a song. Any rise will cause the SP to see saw like the dickens for a long while yet, until they get squeezed out of the system

Bound to be profit taking, that is what share dealing is all about

I can't see what grounds the N Lincs CC can stop the PP, given that all of their questions will be answered. To do so (well that is probably correct at this moment too, if the truth were known) would be purely a political agenda. Nothing to do with oil or contamination, but envy that somebody make make money

Of course it could go the other way. I made a bit of money when Alkane succumbed. Could be the new owners of the 40,000,000 shares would not like to see the price drop by off loading them. They could go the other way and increase their holding. I think that I will come back into EDR for a little dabble :))

Union Jack is going nowhere at the moment, it may, just may, have a 50 barrels of oil per day in Wresstle . Biscathorpe is a speculation well to be sunk. Holmwood well that is a year or two away from production, it has yet to be long term flow tested ! The compulsion is that some people are talking up a share that has no immediate prospects Brothersever is right. At best there is only a 50% chance that a well will hit oil or gas, or both. From that you have to extrapolate commercial strike. I am afraid that not everybody has to report good news, and why should they ?

Spot on. UJO is a company of dreams, it is pumping nothing, it has bits and pieces of investments, none of which would , if they started to pump, would make it solvent on their own. There is a long long way for them to go and a lot of maybe's and what if's to go. When you can pick up shares at this price, with a cash hungry market out there with investment analysts beavering away in the back room and fund managers pawing over their computers - world wide, and still the SP sinks ever lower. It is really a spin of a coin investment, which could make 1pps if EDR comes good, Might make 2 to 3 pps if Holmwood comes good, but that is months away. Meantime the people who are making money out of it are, of course, the BoD they get paid right up until a company goes bankrupt !