Member Info for anyoneforcricket

This almost reads like it’s the insurers now running and making the decisions. Poor to be effectively hiding behind them. Insurance industry notoriously methodical an sllooowwww zzzzzzzz. So although we get an operating well eventually, I fear the timescales will be elongated way beyond what Colin might indicate and what shareholders might expect. I am going to think about bailing out and taking the current loss, suspect I could get back in at a lower sp in 6 or 12 mths…..much as I regret to say it.(

I sold 90% of my holding for a huge loss a few weeks ago. Kept 10% just in case a miracle occurred! Board did warn of risk of admin. Bottom line. Not enough gas flowing, prices too low and capex spent to get to what gas they have too high...poor/ expensive management along the way = where it is now...

A real shame and losses/ write off for genuine investors...does put you off AIM....not good for overall sentiment....I hope many will have gains elsewhere to set off the loss over time...best wishes all

Can chat, The board have been stewards whilst the sp has hit an 18mth low, notwithstanding their share buyback programme which artificially inflated the sp and has meant that they overpaid for what shares they have bought and have also destroyed shareholders capital….and you seem to think we should all be grateful !!!! Wake up and smell the coffee….no doubt you will be delighted if the sp is 15p in 12 mths time and you can buy in even cheaper, whilst everyone else will have lost another 25%. What I want to see is some competent management and a vision for the companies future growth that shareholders can believe in and get motivated about. the recent share acquisition in another Aim oiler is interesting and a potentially a step in the right direction.

Not a lot new here, hence no SP move… it’s all about flow rates, which sounds like it will be feb/ mar 24 before they announce anything.. no point in bottling up capital for months till then….gla

Nonsense on buy backs, why create an artificial market and overpay for your own shares, value destructive as proven last summer and to be avoided…

Finally trying to do something creative rather the value destructive buy backs of own shares……so I welcome the action…..that said whether or not their commercial judgement is good in acquiring the interest in this particular company….only a bit of time will tell. Gla

F1 if that were true, we would all be millionaires and never lose a penny!

Usual Friday nonsense!

Nothing justified unless 100% certainty of deal. Be wary of buying the rumour

Still dull dull dull, best hope to get back to 30’S and 40’s is a takeover….with no debt, cash in bank and revenue stream……..must be a target some someone at some point!

Heidi, that’s the problem, too may ifs, maybes…….investors not interested in that, quite possible that none of what you refer to will happen.

Agreed justbe, though I have a bit more sympathy with a smallish but regular dividend , needs to be sustained though, no chopping and changing or it’s pointless

Share buybacks for small cap cos like this are a poor strategy for the following reasons:

For small cap cos like this, investors want to see a plan for growth and use of any cash resources to support/ deliver that.

It is effectively an admission that the board have no creative vision and don’t know what to do with the cash resources being received, a void of any initiative or value creating ideas, so the default is…….let’s just buy our own shares

There is evidence that all they do in small caps is temporarily over inflate their own share price, therefore overpay for the shares they are buying, and then when they stop the share price reverts back to what the market will naturally support….and shareholders discover the board have overpaid and destroyed shareholder value. It appears this might be exactly what Union jacks board have done over the past 9 mths…..not a confidence build that this board have any commercial instincts to create shareholder value.

Buybacks maybe work over the longer term if consistently applied in well established large cap cos….Union Jack should not be pretending it’s Rio Tinto!

A low risk suggestion on what they could do, and with wressle in mind, start to build a stake in europa, this would open up a potential relationship with i3 and future working on opportunities with them

Hopefully you get the point….time to gets heads out of sand!

If they do buy back, it’s effectively an admission of failure. If they do that, in short term

Get the sp back to 32p and i for one will be bailing out, though I would hope that being cash rich someone might make a bid.

Slow rise, ……for 1 day!!! And thats only because of the oil price move…….look at the past 3 months????? Investors see no clear vision or plan to create value here….and have voted with their capital and gone elsewhere. Company needs to change its approach or always going to underperform. This board need to wake up to what investors want to see to outperform the market…..what they are offering at the moment is not it….as clearly evidenced by the SP performance

Short term SP relief from market move in oil price…..still clueless board about how to create shareholder value and produce an inspirational strategy for the company that is anything better than blind luck of the oil market price moving and desperately hoping and waiting for others in which they have put blind faith to deliver some exploration. They need to come up with something that offers shareholders confidence in delivering their own destiny, once the cashflow from wressle is flowing again. …….and please no more wasting cash away on share buy backs

At least the guy at Europa got out into the media to explain what was going on! Let’s just say he is trying, don’t hear a lot from this board, other than from their pied piper mouthpieces….on sites like this

Having bought back a load of shares when the price was in the mid and uppers 20’s, that evidences another impressive performance of destruction of shareholder value of hard earned cash received, another great strategic and timing call, we’ll done ‘beloved David’ and the board, you couldn’t make it up….but it’s what’s happened!

The board & ‘beloved David’ have not got a clue on how to drive shareholder value, and are relying on blind luck of market price dynamics and the performance of other companies to get any returns from their assets….great strategy!

Whilst shareholder capital withers on the vine for another awful week, it’s great to see the positive actions being taken by the board articulating a clear strategy and vision for the company…..well done board !!!!……….eerrrrrrr?

Helpful new note out, their DCF valuation currently £30.7m…..positive backdrop with todays RNS. At some point the market is going to wake up to what this Co is doing and what it offers………once the chinese sort their economy out, it might even get a blockbuster offer at a future point. In meantime keep on growing organically with no nasty surprises! Good luck all

Good to see the re-rate, only another 85p to break even!!!!!!!!……that’s how far the last 18 mths has taken this, many even short term holders will be nursing massive losses…..hope they finally they fine a way to get the oil out of the ground on a commercial basis