For what it is worth. I think that UJO could buy back the 13000000 and cancel them, and announce a 2.5p dividend, paid in six monthly increments. The share buy back should raise the share price by at least 10% , and the dividend by a further 15 to 20%. IMO. These figures are on the low side. However expect a boost in Brent oil price as China lifts its lockdowns. IMO again UJO share price could easily rise to between 50p and £i.
GLA.
UJO share price should be well higher than it is now. The price reflects the fall in price of oil today, as the market makers have marked down oil stocks. The good news is UJO is up and will go higher well very soon oil prices bounces, as we all know it will.
GLA.
Notrac. Good post and IMO that is why I believe the gas to electric engine, if its not on site now, will be there any day. It is very important for the testing of oil production in the comming few weeks will be require to underline the share buy back and in time for the year end results I still expect now it will be some where in the 1200 barrels a day of oil plus the gas. Like I have already said the flareing of gas is holding us back, so get that engine on and working, IMO.
GLA.
Todays RNS was spot on and as I expected. For those who seem to be blinded by todays low figures, remember Wressle is governed for oil flow by the amount of gas it can flare. BUT I now can see a flow of up to 1200 barrels a day when we can get the gas sorted with a %50 choke. IMO the next RNS will be in a week or so.
GLA.
Further to my earlier note. The government would or should pay for extra drill costs on fields, and in return the field operators would have to agree to sell all their products into the UK at 25$ below the world price, at any one time adjusting daily. The benifit would be to householders with lower gas bills and cheaper fuel prices, PLUS our industry and hotels ETC. would be the cheapest any where. The money made from extra exports and tourists would more than compensate the GB government for its outlay. And inflation would drop.IMO.
GLA.
I am hoping the government will review its polices and invest in North Sea O & G and on shore fields such as ours. The benifits are enormous, and the government have soon to wake up to that fact. GB could becomethe morst competitive country in the world.IMO.
GLA.
Oil will be lucky to reach 90$ by christmas but I am aware that there will be a huge spike in the oil price as soon as details over the omercron viirus is reveal, (could be in the next few days). I still expect a 1000 barrels a day from Wressle. Have a good christmas and wait for our present. All IMO but
GLA.
Just to answer the earlier question. The directors could not buy by law, as the imformation in the RNS,s had to be public knowledgs. Now you may see the directors topping up.IMO. The restricted choke could not be opened for any length of time as we are restricted by the amount of gas we can flare. And the soot that some seem concerned about could be condensate. When the operators are happy with the maximum flow rate (which they should know by now) an engine gas to electric will be installed, which if its not on site now, will be a rapid process. IMO I still think at this time that we will be flowing 1000 barrels a day under ground pressure without a pump, and that could be another bonus. West Newton will be good and, from what I know will be a winner, and I expect UJO to get a bigger share if possible.
ALL IMO.
GLA.
That second flare IMO is very good news, and I now feel that we can expect 1000 barrels a day, if not more. OGA will have advised UJO to install a bigger flare stack, in case the gas to electric engine shuts down. Egdon being prudent instead of a bigger flare stack have chosen to install a fall back .
GLA.
The Wressle cap on production is the amount of produced gas it can flare under planning permission. Now the gas to electric plant has been installed there should be no uper limit on the oil production, IMO, but we will wait and see.
GLA.