Member Info for DaveT1

Ah, ok, but am I right in thinking the CR will give a boost to the balance sheet which might allow them to return more to shareholders than they might otherwise have been able to?

There's no reason the Capital Reduction won't be court approved, and that should free up many millions to do a share buy-back without necessarily spending any of the cash pile or ongoing revenue which will hopefully lead to them being able to declare a maiden dividend with their maiden profits.

It's listed on the main market on the London Stock Exchange. You could hold it in an ISA or Sipp. I don't know if there is any withholding of tax on the divis.

The lot of them should be taking options in lieu of salary.

Where's that Japanese company law expert when you need them?

Any small crumbs left for us shareholders?

Why hold and moan? If you're not happy with the share, sell and move on.

I had 10% tax deducted from the latest SEPL dividend (even though held in ISA).

Would have been nice to have more detail on 'accelerated growth plans' and 'reducing costs' . Not going to comment on the new distributor while there's a war going on.

Oil major we aren't, and Wressle margins are massive. UJO is in the best position it has ever been, I'm sure that in a month or two I'll wish I was holding more. (dyor)

(statement from when oil was half the price it is now)
The operator has updated the economic model for the Wressle oilfield. Their work has demonstrated that the project is economically robust in the current and improving oil price environment with a full-cycle cash break-even oil price estimated at US$17.62 per barrel and an attractive cash lifting cost below US$10 per barrel.

If this carries on much longer I'll be looking for a straight-jacket company to invest in.

AGM all good, we just wait patiently to hear about buybacks and dividends. A few more weeks is not much to ask especially if you've been with UJO for the whole journey.

The operator has updated the economic model for the Wressle oilfield. Their work has demonstrated that the project is economically robust in the current and improving oil price environment with a full-cycle cash break-even oil price estimated at US$17.62 per barrel and an attractive cash lifting cost below US$10 per barrel.

All that you say is true carnivalpete.

So what next from Distil? They are doing what they can and rolling along just fine but maybe it's time for them to provide their vision for the future (not just Ardgowan but how they plan/hope to reward shareholders). I like the company and I like the products but ultimately I want to see a return on my investments.

The outlook is extremely positive, revenue generating, profitable and lots to come. Look to the future, remember the past, but don’t dwell on it. As DB said, the future is bright for Union Jack

None of the cash UJO has accumulated so far is subject to the additional tax.
The increase in the price of oil since last year when the cash started rolling in easily covers any additional tax so there should be no effect on the planned dividend/buyback.
All looking good for UJO

I should maybe add that I like the fundamentals of the company and I'm happy to accumulate shares at anything under 2p

Yes, DIS is very quiet.
The RNS information is nearly always presesnted 'dead-pan' and often ends up highlighting any poor news before coming out with the good news in the small print.
The TV advert is poor, I hope it didn't cost too much.
Waiting to see what comes of the Ardgowan investment and to see what other plans our new major shareholder has in store for us... hopefully one of them will result in some excitement..

This won't be climbing until they re-instate their small progressive dividend

They need to get the decision on 'return to shareholders' right.
UJO could buy back £3m worth of shares and still pay a 2p dividend with the prospect of much higher dividends in the future which would lead to a much higher share price especially if the price of oil remains buoyant. UJO will be clearing a minumum of 10 million annually and if they only return half of that in dividends it would suggest a potential SP of over £1 when comparing the yield with other oilers.
IMHO

But RNS would have us at less than half-price right now, so still a great investment whoever you believe.