SP was too high IMO, so getting to a more realistic level now given 0.144p cash and a tiny discovery at Wressle.
Who knows, but look at the impact of shale FO at EDR. To da moon. I think UJO's shares is about 0.5 billion barrels if I remember.
Valuation for Wressle barrels at 0.2p is £4.12.
Actually I'm a bit out. Dropped too close to cash per share of 0.144p this September.
For me this is only about hype on a farm out of their shale potential.
Funny how people say this was an over-reaction. 'Only 10% stake.' 'Only a tiny prospect.' Same is true for the Wressle discovery, but that hasn't stop people ramping it to the moon. Fact is, even at the day low UJO has a massive valuation per barrel of discovered recoverable oil.
Son of a gun! -60% from high. [Sigh] Volume was great and assets are insanely cheap with £1.4M in cash. [Sighs again] 
Suppose I can get a bit more at an even more bonkers price then. Average down, a rarity for me. GLA