RE: Just seen on Twitter28 Nov 2022 13:21
Union Jack Oil is a thriving company in a far stronger position than it has ever been.
David an his team have chosen us some fantastic assets in strategic positions which all have the potential to do great. We see Wressle already transforming the company financially. West Newton will be the next big drill, which I am very confident will flow commercially.
We have our first, of many, special dividends being paid 16th December. With flows expected to increase early 2023 we will be banking revenues much faster.
I remain bullish for oil with the price being volatile. The facts are that the supply is not there globally as demand grows over the next few years. Ignorant policy makers are just one reason to blame here with lack of investment in to production. OPEC will be watching this carefully an may go for cuts next. Plus of course we have the EU embargo to come 5th Dec. China opening up, fuel switching etc.
Buy backs are clearly strategic here an I look forward to seeing what unfolds. I am certain that us shareholders will all be rewarded throughout 2023 for our patience.
As ever, many thanks to David an his team for all of the hard work they are putting in for us all.