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The only stonking assets there's ever likely to be at D.B are the dynamic duo's current accounts!
if a stonking asset wiggles its bottom at DB and he thinks its good enough for Mr Bull to go over it with a fine tooth comb Then so be it, But they do have more than enough fantastic projects.
The risks and costs are far greater, why would he? The Royalties will be as close as UJO get to offshore lol. Small investment that when they sort out the internal issues will repay a substantial premium. Doesn't matter really on that as it is accruing. It will no doubt get sorted. Lot's of assets to develop are far less risk in their present portfolio of which some could be mid-tier outcomes. Union Jack, like it or not for some, is now heading in the right direction and the market are waking up to that. I see this breaking that elusive 30p this week, and September in excess of 60p with the news-flow expected.
DB has over the last 4 years said several times, admittedly only in presentations and Q & A sessions not RNS, that whilst he is always open to new or further opportunities UK onshore which may come up from time to time and pass Dr Bulls sliderule, he has no interest at all in offshore. I will take him at his word until he does otherwise.
You know something RnsTranslator? You are extremely close to one of the JV partners or UJO. Your knowledge of the financials, operations and quick quite obviously memorised/knowledge is far too great to be just a well researched investor. I am aware you have worked with a number of oil industry executives/companies, it would be very interesting to do what happened eventually to Kendo Nagasaki, to find out who lies behind the mask. Your industry knowledge moves you away from just being a well clued up oil investor, it places you, in my opinion, in a position of trust within the circle of companies involved with Union Jack. Focused on consistently trying to damage the company by devaluing their assets, longevity, revenues etc. Never a positive take on any RNS, it would almost seem as though you have a personal issue with DB and are focused on damaging him personally at every opportunity. Are you an ex chum? A previous employee? Have you maybe been involved in an asset deal? Are you a disgruntled ex-major shareholder caught out on a few placings? Whoever you are, it is quite apparent this is totally personal and not the interest of a normal AIM trader.
So what you’re.saying is you think he’s going to focus on the current assets, but the formally stated strategy (rather than a podcast comment) means that he can choose to acquire other assets (or indeed another Royalty) if he choses to, and can then point to the existing formally stated strategy in the Annual Report if folks complain he “promised” otherwise.
Of course he’s never said one thing only to find out later that he’s done something different, as he?
Don't you think he has to present a forward looking statement? He reinforced "our strategy is the appraisal and exploitation of the assets currently owned" in a podcast, that is a more likely direction based on the assets they presently have. The cash will no doubt be used to repurchase shares, pay a small dividend, the costs of West Newton, additional advancement of Wressle, possible side track at Keddington and Biscathorpe and no doubt Egdon will be given a timescale to develop North Kelsey. There is absolutely no need to invest in additional assets and DB said this live.
“will not be venturing into any new projects….”
So why did he say this on page 13 of the recent Annual Report which came out on the 16th of May?
“Our strategy is the appraisal and exploitation of the assets currently owned. Simultaneous with this process, the Company’s management expects to continue to use its expertise and cash resources to acquire further licence interests in the UK over areas where there is a short lead time between the acquisition of the interest and either exploration drilling or initial production from any oil or gas fields that may be discovered.”
will not be venturing into any new projects, this was confirmed by DB in a recent interview. The company will concentrate on Wressle, West Newton, Biscathorpe and North Kelsey. Probably in that order, with a possible Keddington side track in between. The courts, in my opinion will sanction the application to do a dividend/share buy back/both, and as soon as this is confirmed. i believe we will see some institutional investor interest too.
September I feel confident will be the catalyst period for a major re-rate. Week one, conformation of court agreement on capital reduction, week two and three, extended reserves report on Wressle and CPR on West Newton. Confirmation of dividend % return to shareholders. Throw in some serious institutional investor orders and this will go ballistic. Every sell will be sapped up. Uep, September will push this over 60p imo. Remember who said this first!