David Bramhill is one of the best CEOs out there. His integrity, honesty and genuine belief that UJO are sat on one of the biggest UK onshore oil/gas discoveries is beyond reproach. That’s a fact. You really couldn’t get a better CEO at this level.
I spoke to a broker and an analyst this morning, their opinion is that Union Jack Oil (LON: UJO) did the right thing by placing now. They believe that if the pandemic continues to take hold, raising cash in 2021 would be difficult. It was prudent of Bramhill to get the cash in. Ergo he did what was in the best interests of shareholders. A bitter pill to swallow but one that puts Union Jack on a firm financial footing.
The drill rig for the West Newton discovery is imminent. Wressle should be pumping oil some time in October/November. Keddington will be worked over/drilled, BOPD will increase, Biscathorpe will be drilled. The company are now fully funded for at least 12 months. I don’t expect to see another placing post West Newton success and Wressle going onto production. In my opinion there should be no more placings, the proviso being success or the sale of West Newton.
As for the ‘background noise’ out there post the Union Jack £7M placing that dropped yesterday. Lets get some facts out there. The financial BBs were awash with placing rumours a full 10 days before I managed to confirm a placing.
Understandably people are ‘pissed’, I get that. It’s always a kicker when companies raise cash but it’s par for the course on AIM listed stock no matter how good or bad the company’s are. Regardless of who raises, by its very nature a placing usually leaks out. That’s specifically down to the broker/s running the book who in order to fill the book have to reach out to their clients and other brokers and their clients. That’s how it leaks and that’s why it was all over LSE, ADVFN, III, chat threads etc.
Which brings me on nicely to some of the utter shite currently being posted on social media.
The attacks on Bramhill and his company are nothing short of vile. The conspiracy theories are so wide of the mark that they’re up there with ‘Lizard People‘ controlling humanity from Mars.
What these trolls do is to blame everyone else for their failure. How can you be sat on 50%,60%70% 80%90% profit and not derisk? If you can’t understand that then it’s easy to see why you hurl abuse. You’re not mentally adept to be trading on the AIM Casino. Better you buy premium bonds. Crawl off under your rock, leave it to those of us man enough to deal with the ups and downs of investing/trading.
One moron who got caught holding a big chunk of shares and regularly trades in and out of UJO came up with a belter last night, told me how I’d sold at the top and bought back at the bottom ’cause I knew there was a placing. I derisked most of my UJO at the height of the lockdown pandemic/oil crisis in May, after sitting on a £30k loss I managed to basically break even. I, like you, have other financial commitments, I missed the huge rise but I don’t seek to apportion blame for my missed opportunity. It’s one that got away. No great secret and all a matter of recorded fact with UJO and my broker.
However, inventing smears out of thin air and posting/emailing/phoning vile abuse to a 69yr old CEO at his home is a reflection on you. You really shouldn’t be trading AIM stocks. Baseless accusations of shorting, insider dealing and the calling for the jailing of the company PR girl is about as laughable and ignorant a rant as I’ve ever seen on financial BBs.
It’s all to play for at West Newton. It’ll be interesting to see these ‘pussies’ currently howling shite, change tack should the biggest UK Onshore oil/gas discovery finally flow. Just remember who they are.