Mid tier company in the making.23 Feb 2022 09:00
The free cashflow that Union Jack Oil will be generating will be the highest on record for them ,especially from our Wressle asset. Now we are approaching meaningful buy backs and dividends, this will rerate the share price and be great for us shareholders and Union Jack Oil. The great thing to note also that this is a 'programme’ so we are looking at ongoing dividends and share buy backs.
What is interesting with this RNS is that when a dividend is generally announced you normally have to be invested at that moment in time to benefit. With this being a proposal, which I cannot see being voted down, anyone buying in now would be guaranteed a dividend payout whilst benefiting from any share price rise along the way with forthcoming news up to the vote.
In the meantime we have news due on Wressle, CPR, flow rates and the gas. West Newton planning meeting on the 17th March. Biscathorpe appeal to be logged formally. With all of this news imminent, and we would hope all positive, would increase the share price and in turn attract some institutional investors before the AGM meeting vote . It would be a no brainer for them to get in very soon and I am sure Union Jack is very much on their radars now.
It is fair to say that everything playing out here reaffirms my thinking that this is a fantastic investment to hold and once again I thank the management an operators for all of the hard work going on behind the scenes for us shareholders.