focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Pboo, you say Aimcasino is making excuses? All I read is facts that excuse the level of profit which is quite different is it not? X
Is that the best you can do Heid, accusing me of being a compny representative? No, I represent my sharholding here just as you did for a few years before you became so disillusioned. The only difference is I am positive in my outlook for the future here whilst you are solely focused on salaries and age x
You two are becoming a tag team 😂. So silly Heid that someone who has just announced she is a shareholder again is doing her best to annihilate the sentiment here. 2023 was a profitable year for the company regardless of all the negativity towsrss the oil industry, 2024 is already looking exciting. But you two just keep on and on and on. Idiots x
Nice response to Tom on Paul's blog https://ujoukus.com/tom-winnifriths-tripe/
That Tom is a nasty man by the sounds ofmthings x
Heid, you do understand that the oil sector changed quite dramatically post 2022 and these results are actually for 2023 don't you? I appreciate you know more than Graham Bull about geology and more about running an oil company than the present board of directors but you fail to recognise that there has been an Energy Profits Levy imposed on Union Jack, there have been planning issues and appeals against granted applications, accompanied by a little lethargy from operators, all of which have been out of the control of David and the team. What they have done is to circumnavigate the ridiculous restrictions and negativity here in the UK and refocused on the US, still managing to remain in profit and cover the cost of one well, purchase a substantial number of profitable mineral royalties and ensured other planned operational costs are covered. Regardless of less profit last year then the previous, the company is still very sound financially and doing a lot more to safeguard the future of the company than their peers. 2024 looks extremely promising regardless of the age of the board who would I am sure, trump any potential younger oil executives.
'we will all be left carrying the can'
Was it not you demanding a change at the top? All the directors virtually wheelchair bound and approaching dementia in some of your previous odious comments?
Surely 'we will all be left carrying the can' would suit your thinking. A young, dynamic board with little experience venturing into the Congo or somewhere else safe for shareholders cash 😂. This board has ensured we will survive the catastrophe emerging in the UK oil sector just in time and like it or not, it is David's ingenuity and leadership that has ensured we still have a profitable company. Try being a bit positive or do everyone a favour and sell your family's holding.
"Union Jack's initial successes in the USA, in just a few months, highlight the ease of entry and ability to execute business in that country and discussions are at an advanced stage with Reach in respect of materially expanding our activities over the coming months and beyond"
Jeez Heid, don't you get fed up of saying the same thing over and over again? 🙄
Ooops, Pboo failed to add 'in excess' that was in my post. Will you be parking up at the Andrews-1 well in Oklahoma counting tankers this summer Pboo? Perhaps they will feel sorry for you too and invite you in 😂
Are you sitting there refreshing the page every few minutes Heid so you can reply negatively to every post? I guess the maid is making your coffee to save you leaving your laptop.
Things will change here. I do believe it will be the USA prospects that affect those changes as soon as they are proven up with the confirmation of flow rates at the Andrews-1 well. This should be the catalyst as the likelihood of a second successful well would be the sign of further strong revenues. With oil already being sold during the upgrade to permanent production facilities, it is quite obviously they are not selling 20 odd barrels per day as that amount wouldn't be collected for sale. Whatever tanker is arriving and departing, it is not collecting a dribble of oil. Looking forward to hearing in excess of 100 bopd as soon as it can be announced as optimised and stable rates.
Sharegem
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As for UJO results today, these were to be expected due to the downturn in Wressle ops to allow for the water pump in. Id like to see UK assets sold and money invested in rapidly expanding US assets where there is actual action on the assets'
I totally agree with this. Sell everything or give it away, excluding Wressle.
The costs of retaining assets that will likely take years to develop due to the operators not interested in progressing them, planning opposition, appeals oending, there's no future here whatsoever.
Drill more wells on the Andrews site, exploit whatever options are offered to the company by Reach and enjoy the UK.
More common sense than others. https://ujoukus.com/2023-annual-report/
I am not a vindictive person but I hope you and your family sell out at a loss and sooner rather than later. You do nothing to support your investment or theirs. Nothing but constant negativity. If you cannot see a great future here then you are blinkered. Go buy some of the other stocks I mentioned earlier and see where you get with them. You are clueless Heid and detrimental to every shareholder in UJO.
Give it a rest Heid, you harp on about the same point incessantly and you seem to have no understanding of the level of salaries that are standard for the positions held or what they do. You seem totally unaware of their tax liabilities or benefits, you only focus on the gross amounts. From what I read from this, David in all the years he has been Executive Chairman of the company HE formed WITH Joe 'o Farrell, there has been no pension plan and no other benefits usually afforded to directors. Retirement with no pension may seem attractive to you, I am sure your hubby hasn't got a pension plan either, these guys have taken salaries below the rates expected for their positions. Grow up and learn a bit about business before spouting your rubbish.
Thank you Jimmcdee, 2023 results are actually quite impressive and considering the attacks on the fossil fuel sector, to think we are financing all of the US venture without going to the market is a great achievement and a testament to Davids shrewd management of the funds coming in from Wressle. Imagine being in the same situation as a few others, going into Equatorial Guinea or Turkey and suffering massive dilution to do it. We are going to have a fantastic 2024 imo x
The company made a good profit regardless of oil prices dropping in 2023, they also had the energy profit levy to contend with. Look at EOG, UKOG, ANGS, all of them raising or in dire straits. Union Jack is a shining light in comparison. I have to laugh at the salary comments, the board as a whole are hardly costly, probably less than Sanderson at UKOG takes just for himself for producing nothing for shareholders. David stated in an interview I watched he got no pension, no company car and no health care. People should be focusing on the fact the company managed to combat all the negativity aimed at the oil sector and came through it with no placings, no debt and has moved into the US which looks to already be a major success. I thank my lucky stars I bought these and not any of the others. X
Good morning Heid, doesn't it say a one off payment and his salary will revert to previous level? No company benefits such as a pension or health cover. Surely he should, at his age, be assured of a pension at his age?
Yes, do that Pboo, he would be over the moon to see you I am sure 🤮
In comparison to its peer companies, it is way ahead of the game in that it has the cash to 'save the day' by the diversification seen lately. The UK is like a no go zone for oil exploration and development and until this government (or the next) realise the massive job losses and energy security failure they have inflicted on the country and do something to fix it, there are no opportunities likely to be actioned. David has seen this and acted. Look at the rest if the UK oilers and they will be lucky to ever generate shareholder value. This company has a great chance. X