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i absolutely agree granty, it seems to be defying logic right now. the rns's to date, 16 i believe, should virtually all be value enhancing yet nothing credited to the sp. my feeling is, that there will be a correction and this will be as the us assets are proven up. of course, conformation of west newton being mobilised and the *****tone flags the same, will help enormously. i live these assets in the us, i do believe we will see news flow after news flow from here as we will not be waiting months and years for planning decisions. we will likely have drilled and have producing two wells out there whilst waiting for the aforementioned to commence.
My agenda is to support my investment and argue against what I see as constant attacks on it. I think this comoany is going to do remarkably well and some people DO have an agenda here to destroy sentiment. Well, they ain't destroying mine x
Granty, judging by the amount of rns's, average of one a week almost, and the period when they were obviously setting up the US stuff, I cannot imagine there was much time allowed to buy back any shares as they would have been in a constant closed period. Also, with their investment in all these new projects, perhaps buying back shares wasn't a priority with the money potentially being required elsewhere?
Union Jack is an investment company that invest in prospects with a good chance of success. Wressle was an excellent decision as was Keddington. Biscathorpe drill shown to me impressive, largest unappraised onshore UK discovery, West Newton, biggest gas discovery in 50 years. The company has invested in some pretty impressive projects that have been hampered by operator issues and planning issues. I cannot see anywhere that Union Jack have made any serious errors of judgement in their investment decisions based on the knowledge and circumstances at the time. Reach Oil and the US look to be a much safer environment and JV agreement than anything to date and the chance of success looks to be far greater.
Leaks, ah yes, leak by the broker most likely and how many years ago was that Heid? Bet you pulled a girls hair at school, should you be punished years later? Placings? Wow, how unusual for a company on AIM to place. Dod you not understand that this is why they list on AIM. Shorters? Well, again, part of the stockmarket trading system. Promises that never came to fruition? Well. Things change like operators timescales, decisions, finances etc. dear me, you really shouldn't be investing in a high risk market if you think all the above is unreasonable or unfair. You pays yer money you takes yer chances. Union Jack is one of the better, less risk companies.
Summarises the situation perfectly and the vast majority of shareholders appear to agree.
"I'll be very happy to get a 0.25p dividend on an AIM listed share with a still rather low 24p price. That's a yield of 1.04%, and there could even perhaps be an interim 2024 divi later in the year. Who knows? But IMO it's a sensible decison by UJO's board based on the companyβs likely income and cash requirements"
The company, as Ricardo states below, has to grow. People want a decent share price AND decent dividends. Thisnwill not happen untol the revenues are generated from many sources, not just one main asset in the UK
David has made the right decision in wanting to achieve this, not pandermto a bulletin board poster who believes he listens to her and acts on her demands. He doesn't obviously.
How about you take a breather Heid. You've done the dividend to death, Davids salary, Joe's salary, David's wife dragged in, his home, his office. Is there anything else we can discuss?
Atrebates, exactly. Some people fail to understand this. A company can only make a firm commitment to pay a regular dividend when it is stable, when its revenues come from a humber of producing assets and this is why, as you say 'What we are seeing in the USA is in my opinion just the beginning'. Just had a read of Paul the Bloggers latest article and he sums it up nicely. https://ujoukus.com/another-divi-well-done-union-jack/
What the company does, this BB has it's little group of posters that do nothing but complain. Today's dividend announcement is a positive move. It is something few AIM company's do. Everyone I can see on X are positive and understanding of just what an achievement Union Jack have made with their progress. All I want to see is more wells, more revenues and at that stage, more regular and better dividends. How anyone can moan at getting something the company don't even have to do is beyond me. I don't see EOG, UKOG, ANGS or any other little oil & gas companies anywhere near Union Jack.
A publicity stunt is a ridiculous statement to make when this is the third dividend paid. Can't beat a bit of negativity on positive news lol.
How on earth can a little company like Union Jack commit to a fixed date dividend so early in their revenue building? Some people don't seem to understand this is a very small, Aim listed company that is still investing and building the business. They don't know yet how things will go in the US, people should be grateful they are giving anythjng back at all at this stage. Two or three more producing wells so everything isn't hinging just on Wressle and yes, a bigger divi.
Heid demanded nought point six
I liked nought point two
David decided point two five
Now what will Hedi do?
She'll scream and shout
She'll create a fuss
She'll not be happy
She will swear and cuss
Her family will sell
She will slate the board
I demanded point six
The lady roared
But David's the boss
So like it or not
Suck it up dear, and
Be happy with your lot
I think shareholders should be looking at the action, not the amount. This is the third dividend and the policy will almost certainly continue as revenues increase. What companies of this size on AIM pay anything back to shareholders? Placings or insolvency seem the norm, this is brilliant in reality. Well done David x
Karina, you are right, as I hoped, prudence whilst building the revenue streams followed up with another one for Xmas is my guess. π. Dare say the queen of the board will be unhappy but the amount is given careful consideration by the board based on commitment at the time I guess.
I guess a lot depends on where you drill MarktheSpark. I took the opportunity to read the initial RNS where it said "Similar low-cost development wells nearby, typically produce initially at approximately 150 barrels of oil and over 200 thousand cubic feet of gas per day" so hopefully that fact will be reflected in the Andrews1 well π
Mrswamp, have you ever consodered the fact that without Union Jack, Reabold and Rathin, your life would have no meaning?
Ronnie. From what I understand, the opposite to UK wells. The water cut declines with age as the oil increases lol x
Pboo, IT WAS BEFORE THE PRODUCTION EQUIPMENT WAS INSTALLED, hence it was FREE FLOWING
HOPE THIS HELPS
In fact, looking back on the X account, it would appear testing actually commenced at the end of April so that 20 bopd was certainly not being pumped out πͺ
Is that the 20 bopd was pre-clean up. It was recorded on the 16th April. The clean up operation has allowed Zac Philips tomrefer to this well as hugely successful which to me signifies a lot more than your 20 bopd Pboo. If you will remember. The well was completed and there was a period where equipment was being taken away and test equipment being installed. I am not even so sure that the beam pump was even installed then so it could well have been free flowing at the time.