The Arm Chair Trader18 May 2022 19:32
Union Jack Oil (LON: UJO) reported sales of £1.9m and a cash balance of £6m at year-end in its FY21 results on Monday. As of last week, UJO has sales of £2.9m YTD, is debt free and has £7.5m near-term cash equivalents, enough to fund operations for the next 12 months. Nominated advisor and broker SP Angel has a ‘strong buy’ on the stock: “In our view, production and cash flows from the Wressle field have significantly transformed the company over the last 12 months. Investors can now look forward to a busy period of planned drilling and development activity over the next 12 months that has the potential to unlock significant valuation upside for investors.” At close of trading yesterday, UJO shares were worth 28p, a robust return of 94.50% YTD and -21.14% over 12 months.
https://www.thearmchairtrader.com/whitbread-union-jack-oil-unilever/