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'What rabbits will David pull out the hat'
Crikey one wonders what you pull out of your hat, is it like watching a Canadian lumberjack viciously pulling on the chord of his chainsaw in the middle of winter?
'To be continued.....'
Well you were on about batteries and bunnies the other day, so you can share it all with your friends on here.
' so clearly sentiment needs to be altered and hopefully will be by investing outside the unfriendly UK environment and this is what UJO us doing.'
The problem is ESG criteria, even if institutional investors wanted to jump aboard they cannot due to their credentials. At some point private funds cannot ignore the profits and hopefully dividends oil companies will be paying.
There are many elections due across the world this year and once the dust has settled the oil market should get some stability and future direction, Trump 2024 for me!
I guess we are all due our opinions an thats the point of this board. From a personal perspective dividends are a nice way of rewarding shareholders whilst attracting new investors by showing confidence in your company.
I look back at the AGM which was the 22nd of June 2023 an the share price was 31p an rising. Sentiment was really improving with buy backs, dividends being paid an director buy ins..16th June it was really nice to see a TR1 from Joe OFarrell of 133,400 shares leading up to the AGM. The future really did start to look bright with the interim dividend scheduled to be paid on 28th July 2023 of 0.30. This amount was not impressive but a nice gesture. We now know that was the last dividend we would receive despite the mention of another one from Egdon funds at the AGM.
We also saw a record month of buybacks, from the 1st June to the AGM on the 22nd June, with an impressive 2,325,000 Transaction in own shares RNSs. Bizarrely the day after the AGM the buybacks stopped.
A week before the AGM ,14th June, US$16m net revenues were Reached at Wressle wit RNS stating 'The share buy-back and dividend programmes continue'
I am sure everyone left that AGM happy as were shareholders following the events that led up to it. Since that AGM day the share price has near on halved. You may say not a big deal, foggy, but let us see where we are in June 2024 by the next AGM meeting. What rabbits will David pull out the hat by the AGM with shareholders not being rewarded nowhere near what he is with his salary at this moment in time?
To be continued.....
I do believe and request however that Dave takes a haircut on his salary until performance in the SP justifies more.
Yes Wressle has done well, so far but pay seems excessive to me
Not sure what is the big deal about a dividend.
I believe that intentions to pay a dividend were made honestly since which economics have changed. I suggest that a dividend will be paid when prudent.
Same with buybacks, not much point really. If UJO was propping up its own Sp by doing buybacks as it certainly appeared to me then there was not much point. Volume was very thin so clearly sentiment needs to be altered and hopefully will be by investing outside the unfriendly UK environment and this is what UJO us doing.
I would much prefer all funds to be invested in value accretive non UK projects giving diversification whilst retaining sufficient to develop those meaningful UK projects as commitments arise
I’m about 40% down and not happy about it, I could sell or sit it out. It is only going to get worse if Labour get elected.
However there is enough at play to keep my confidence in check for now.
Leidi steps back an looks at this differently to all of you clearly
You sat in that room Karen with Devon an the board etc an was told a dividend was coming from Egdon proceeds
Devon has constantly told us all that :
Union Jack continues to be cash flow positive covering all G&A, OPEX and contracted or planned CAPEX costs, including any drilling activities for at least the next 12 months. Debt free. No Placings. Highly cash generative
Malcy's Blog 29th Jan
"...UJO’s distinctive way of rewarding shareholders, currently via dividends and share buy-backs which will be cushioned by this investment..."
The share buy backs have stopped an there has been no dividend for near on a year ?! Why do you think the share price is so depressed ? Are we here to keep drilling sites ticking with no reward whatsoever to incentive new buyers or reward us.
Meanwhile this company continues to line the pockets of the board an gamble our money.
I dunno people. It is just how I see it. I am sorry. I am sorry to Devon too. But we shall see.
So you think Leidi, that as the drills will cost more, UJO should reduce their cash by paying a dividend?
Have I got that right?
Where did you study economics and/or business, I just want to make sure my boys never attend
Why are you calling him Devon and not DB, not had a legal slap on the wrist have you poppet?
PAUL1, "Last few days"? Not "Last few years"? You took her seriously? I'm waiting for her to post seriously: rarely a success arrives.
Next thing we will be told Biscathorpe needs funding at 5 Million a drill now.
Sorry guys we need to fund it.
Devon should have rewarded shareholders along side his plans away from 'Union Jack' Oil
Devon gloated about his techincal team an DD that we all believed.
You should take me seriously
Then price is down 50% since the AGM
Devon says we are getting dividends an buybacks.
No we are not ! It has been nearly a year
You all seem blind to what has played out here meanwhile Devon keeps getting his £287,093 salary an hasnt parted with a penny to buy shares here
Good grief ! Open your eyes.
She is certainly one peculiar individual, after the last few days I no longer take her seriously.
I get fed up of her posts spamming the board with useless sounding off.
It would seem DB has cut her out, who can blame him.
IMO, you should have waited.
16s looking to arrive
Hey ho...the future's bright. Per Devon.
Jesus god. Not (sn)Heid on this chat channel too. Same dirge as the RBD channel. Count your lucky stars she isn't quoting "Baby Sattar - the Oil King" (her words not mine) *shudder*. Running true to form, she is picking out an individual to actively bully, whilst reporting posts of anyone that calls her out on her crappy toxic behavior and de-ramping *sigh*
- buyer at 17.5p
They have been looking at the USA with Miles from Reach ( Named after 7 Club Seven's hit Reach for the Stars) for 18 months now. Therefore Devon knew about this when he said at the AGM about the dividend an sat checking his phone. Was he checking flights to the USA ?!
Devon feels 'like being mugged ' with the 75% tax . Good! At least Devon knows how we all feel about being 50% down on our portfolios since that AGM
The rabbit was pulled out the hat with the dividend an the 36p from the buy backs the week before, an then it was taken away from us all.
But no good bleating about it as Devon has Great Expectations.
Even Derren Brown would be impressed... but I am not.
Who's they? You haven't the first idea who went to the US, if anyone....
Looks like DB's surprise will be that RBD has a big oily fish on the line at West Newton to helppay for the development.Catch net is at the ready. Terms will be hard so be prepared!!
I wonder what that interview cost to hear same old.
Did they travel with business flights to the USA ?! Hotels, taxis... All at our expense.
I sold Beacon to derisk an to be fair it was only a punt an I bought something else.
UJO is not a loss until it is sold for any of us
Happy to hold an pleased we never parted with a penny here in a long time an we invested in our bonds that all mature this year.
David knows how to talk the talk with his sales patter. We have all seen that now in interviews or on the phone . The latest from him is the West Newton confidence so let us hope he is right.
IMO we are stuck at 17ps +- for a while yet.
Disgusting that he teased shareholders with a dividend at the AGM then did not honour his word
An you know what....he gets paid in the region of £13,000 a month with the share price right down an him not buying a single share for all of his chuckles.
I wish you luck in the 17.5p investment. 🤣
Heid had confidence in the company and DB and look where that got her.
Big loss in UJO and Big loss on Beacon.
So my take on that is why do all the work when 75% of your profits go on tax, after all if the oil is there its going nowhere so wait untill the EPL tax goes. Dont think heyco bought egdon for 30% of wressle.
I’ll worry more when Pboo buys in, everything he ramps loses money and everything he criticises goes up so I am feeling very confident as a buyer at 17.5p
I have confidence in UJO and confidence in DB running the Company. Love that latest interview! So there you are Pboo, you’re wrong! THERE IS SOME CONFIDENCE!!! .. ps. I’m not involved in the shorting of the shares. Just need a divi from the Easter Bunny.
Clearly, there is no confidence in UJO and no confidence in DB running the company
Year to date.
Share price is down