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30th May Reabold Annual Accounts due
Bring it on !
CT5 - the drill was classed as a major success….. the well hasn’t been fully tested so no flow rates available yet, so the well is not a success… yet
Malcolm to you all.
I have every confidence that West Newton will be drilled an David also spoke with confidence about it. Maybe he should not have gloated either ?!
In brings me back to the embarrassment of riches David also was proud to speak about in previous interviews.
Were those embarrassment of riches regarding his salary as the share price under performed over the last year an more.
Time to share your war chest with shareholders now David an not insult us with below par dividends ! Union Jack Oil has much to prove in line with Reabold as chipmunk stated
Reabold seem to have lost most of their gains over the last few days, if I was in there I would have taken some profit I think as until West Newton mobilisation is announced there remains little positive sentiment. This is why I would never gloat or tell everyone how well I was doing as things can change so rapidly. Few oilers in the UK are doing well at the moment, so happy to be invested here 🙂
Could easily pay for an additional well in Oklahoma every 6-8 weeks. It's not out of the question to potentially have half a dozen wells by year end all producing oil AND gas. By that stage there would be millions rolling in and the world becoming Union Jack's oyster. Surely not as far fetched as some may think and certainly achievable both operationally and financially.
Secondly cancel the shares in treasury.
Start doing some live online investor meets every quarter so as shareholders can speak to you direct an not just the X account. Some complain they are blocked anyway an you can not even reply to the account at selective times.
The wells in Oklahoma are far cheaper than the wells in the UK. David has put on numerous RNSs that:
Union Jack continues to be cash flow positive covering all planned G&A, OPEX and CAPEX liabilities
· Cash, short term receivables and investments at April in excess of £10 million ?!
· Debt free and remains highly cash generative
- Can claim back tax for the Wressle works under the energy levy tax scheme
- Biscathorpe is with in the planned budget an imo will never happen
- West Newton, the longer Stephen an Sachin take the longer the money sits there.
Reward shareholders David in line with splashing the cash as s/he states because there are some that have questioned on X sadly if they will even be alive to see there money earn them some profits after the years of being sat here.
Is a super attraction and a reward for existing shareholders but for me, as I have previously mentioned, I want to see a solid revenue stream, not just one asset paying all the bills. Two or three wells in Oklahoma provides secondary revenues which makes the company far more stable and increases the potential for long term, regular dividends, which couldn't be assured by Wressle alone. So David. Please, splash the cash in Oklahoma.
The last dividend of 0.30p was seen as an insult an hardly a reward to those with a smaller holding.
It is all well an good keep developing oil fields when the price sits at 22p again.
The way to attract new investors is to reward three dividends per calendar year ( Two would be in order this year)
This would show confidence in the revenues an without a doubt attract new investors from the UK an USA. It would appear that Shore have been struggling with such a task with the low volume.
I mean we dont reward the board half a salary do we for the performance of the last year or the PR an IT an all the others that have a nice pay packet. Oh no they get full pay but Christine says we get a minimal gesture.
Long term is all well an good but what about the older folk that have been sat here for years. Would they support your stance ? I think not.
I wish we would move forward from 30p
My issue is this low price is setting us up for the next pump an dump.
Want a largish dividend announced near the AGM but personally Imthink that would encourage the thought that it was engineered to pacify shareholders. For me, a small dividend, a sign of things to come, the continuance of the policy to reward shareholders will be a better sign. Maintaining constant and regular payments will be an attraction to US and UK investors. When you start paying large dividends you will be expected to keep them going and I would so rather a few more wells in the US to ensure revenues will continue to support them long term.
Good grief now s/he thinks we are all doomed.
Why does David not buy some shares back at this low price when the last transaction was spot on the AGM day last day at 32.25p an then nothing ever since ?!
Surely now is a bargain.
Disagree, no probs..
Surely a 'major' success implies more than 150 bopd ?
One would assume that it is in a higher league than that but why just the nodding donkey ?!
Milnrow, no doubt in my kind we will all be obliterated by war before anything else. Let's live with the luxury fossil fuels provide until then 😂
Funstar, the fact the well was declared a 'major' success not just a success The fact the well and the site has obviously been prepared for production, the fact there were elevated readings, the fact the X account is keeping shareholders updated. It all goes towards the assumption all is well. As for the rest of your comment, whatever makes you happy x
CT5, you invoke polymers, which in the long run wash into oceans, unless we start being a bit smarter. If food trays and single use cutlery can be made again from wood pulp (which sequesters), what not?
Setting aside jet engine, the 2 major inventions of 20C were polymers and nuclear weapons. Which of those will be first to end life on our dear old, queer old, planet? Imo, not E=MC².
What makes you believe the commercial success is extremely likely? Are you privy to info the rest of us aren’t TAC??
Truth is no one knows and only time and testing will tell………… but don’t let the facts get in the way of a good ramp hey Joe / TAC /CT / CT5
Express their operations now in the US. The company should set about drilling another two wells on or very near the site of the Andrews1 subject to it being commercial, which I believe is extremely likely. The numbers certainly stack up based on the cost to drill and the revenue return. Amazing that Reach can drill two wells within 3 months and be producing, all for a million pounds. Pay back in six months, pretty incredible really when you look at the hoops you have to jump through over here just to get permission.
The question is will it be flaring next week ?
Bsg4, CT5, Heid
If you look closely you will see that the flare is not flaring.
Ito be the time for anti-fossil fuel activists right now as authorities everywhere seem to believe in the need for wind and solar as a substitute for oil and gas. Why don't they see what every sensible person sees? It is simply not possible to exist in today's world without either commodity. Even if you had electric cars and limitless green energy, the fact that the cars and just about every other domestic item we use is a bi-product anyway. Common sense seems to be in extremely short demand.
A few more wells would take months upon months...
Pointless this is feeling again.
Just pump an dump, rinse an repeat.