Member Info for wiltshireman

is very costly. At least we now know where (some of) the cash will come from thanks to the tie up with Columbus, an astute move by both Koot and Potter and their teams.

GKB -All I care about is that UJO finds and produces oil on the scale of DB's 'embarassment of riches' and I won't be in the slightest bit embarrassed. Having worked in offshore oil for 20 years and lived close to and followed Wytch Farm with interest, the largest onshore field in Europe, I can see W. Newton, the big one, producing an 'embarassment of riches' for all of us who stick with it. That's the goal but with all these AIM tiddlers its very much high risk high reward. GLA

Just remember GKB if there are no investors there is no company. DB has to keep his investors sweet and needs their backing no matter how cynical we feel. The company has been on AIM for nearly 8 years now and whilst there have been 'hairy moments' future looks extremely bright at the moment and you'll find it hard to disagree with that fact

My bro lives in Melbourne and tells me today that
We have reached 28 days with no new cases in Victoria and the last case has left hospital. Only South Australia has some cases now. It came from returning people from overseas. Returning Australian citizens will start landing in Melbourne in early December – they have only been coming into other states for the last 6 months whilst we had problems. Newcrest HQ is in Melbourne and I guess Havieron is run out of there. So bodes very well for operations in NW I guess.

That should be interesting. I am sure that DB will deal with just about any question in his usual relaxed friendly way. Being a realist like myself he will obviously avoid any answers to the crass sort of questions about timing etc especially in view of the latest Covid restrictions. What I am looking for is some open discussion about West Newton but reality is that no one from any of the companies involved would be prepared to discuss that in any depth (forgive the pun). So probably we will get bland uncontroversial comments. As for discussing the placing fiascos that won't be allowed and let's face it he raised the money but his PIs will be alot more wary of his 'we are well funded and have plenty of offers of money' statements that he made last time he was on air.

Whale, isn't this better than the drilling interrupted by COVID and the abandonment of drilling? This is a 'wing and a prayer' operation anyway by an oil minnow but reducing the risk of abandonment on medical grounds and using a modern (if expensive) drillship that can technically cope with most drilling problems surely outweighs any postponement of sailing for medical reasons?

DB mentioned this in one of his interviews saying that much as he admired operators of the fields UJO has invested in he did not want UJO to operate any of them.
Now I can see why. If we can avoid responsibilities of operating a field and AND lend the operator money at lets face it pretty exorbitant rates (but then who has the choice in todays climate, any placing etc would cost even more in goodwill and reduced company capitalisation) AND get our share of production revenues on time, then its a good deal for us and probably Egdon.
Cash is King even if you leak to be sure of raising the sums involved.

https://www.youtube.com/watch?v=ov5QSBAKBTg

Just like any other currency IMO, gold is solid, not ephemeral. You can't hide bitcoins under your mattress for a rainy day.

Justbe, bit rich calling it a schoolboy error. Running out of cash is an occupational hazard for many penny dreadfuls, hopefully UJO is the exception, they can at least sell some of their assets rather than destroy the SP with another placing should things not go well for the operation(s). Cash is king as in most businesses but particularly oil E&P

If you don't like it Oiler why not sell

James - I really didn't realise it was all so complicated and so much of it we knew little or nothing about. LOL

The blog has been taken off so maybe we will never know what his mumojumbo target for UJO is. Perhaps its just as well judging by his last effort when UJO was on the list.

on sharetalk has UJO and the other one on his list but I can't hear what he has as to say on his Bulletin Board Heroes blog as it doesn't work for me. If its good we can be sure of further rises today. .

I think EDR price is stuck on 1 trade. Its been like that hours.

On second sight, one trade. I'll never understand how this system works other than 'wafer' thin trading and marking up SPs but that's the mystery of the AIM casino.

I see they are up 15% we should follow shouldn't we?

Despite all the good news on the vaccine front all this talk of a huge 'bounce back' in the West is naïve in the extreme. As is near zero or negative interest rates continuing. Price inflation is inevitable given that China, soon to be No 1, is in the midst of a massive domestic infrastructure and consumer boom that will suck up all the worlds natural resources . The 'rest of the world' too are demanding the living standards that we in the West have enjoyed for generations. That's without Brexit and printing money.

Over 2000m drill on schedule without disasters, stuck drills etc etc that can go wrong. Bodes well for side track. IT IS NOT a forgone conclusion that its just a matter of drilling a few thousand metres as anyone in the industry would appreciate. This successful drill is reassuring no matter what the naysayers opinions. Just find the oil/gas which is what its all about but please give some credit to the operators running a smooth drilling operation. Finding oil or gas has always been a gamble no matter what , just hope it doesn't cost us too much in dry holes.

Says he's spoken to UJO hope he got more out of them than we do.

https://www.proactiveinvestors.co.uk/companies/news/934684/malcy-s-blog---diversified-gas--oil-scirocco-aminex-union-jack-and-more-934684.html