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Miln, you are right to be unconvinced by DB Proxy person and others, of both UJO and EOG being held to ransom by their JV partner. The formal denials of the ensuing conspiracy theory are defening? UJO directors not interested in buying shares at this level 17p ? Something is definitely going on behind the scenes but the talking continues.
UJO2024 alias DB response - me thinks you complain too much!! You need your head read if you don't accept that HEYCO are extremely pedestrian in their performance at Wressle, Kedington and Biscarthorpe for absolutely no apparent reason or cause other than to Delay, Disrupt and Distract the financial performance of UJO and EOG and there isn't anything the Directors can do other than scrabble around the world looking for projects that others have rejected as too risky and would only be developed by companies with plenty of other people's money to splurge and waste. DB won't even invest in UJO at 17.3p? That says it all doesn't it? Undoubtably indefensible, but DB will try by proxy person. No skin in the game at all. No loyalty to shareholders (the real owners), just keeps taking the fat, over inflated salary and expenses. He is even scared to face the sh public now. Happy Director Days!! Nothing for the real owners, the loyal shareholders?
If anyone hasn't seen through the guise by now you are certainly missing the trick. The calm and smooth push back in response (even if the response is totally incorrect and misleading, particularly about planned dates provided by UJO) to almost all of the true and real negative comments made on this BB about the UJO management current performance, communication with shareholders or the direction of its new investments and the ineffectual and pitiful control of HEYCO's pace of work and its extremely poor forward planning work at Wressle, Keddington and Biscarthorpe, certainly gives away the identity that it is a direct DB mouthpiece by Proxy . The UJO2024 proxy responses and unreal positive comments defending the UJO Directors are therefore obviously worthless and meaningless in the context given, as they are only to protect and attempt to prolong the directors jobs and fat salaries and trips abroad on the back of the shareholders money from Wressle!! Happy Director Days!! Nothing for shareholders?
HEYCO are still proving to be masters of the now discernable Delay, Disrupt and Distract tactics for the delivery of the planned work at Wressle, Kedington and Biscarthorpe. Nothing at all can be done about it as HEYCO are in full control of site operations and management of the work. What better position could you be in if you want to drive the sp down of both UJO and EOG, and it is working extremely well? No wonder the directors of UJO and EOG are scratching around the world for for extremely expensive scraps of very minor and risky oil fields which no other oil and gas companies would go anywhere near without a desperate partner with lots of other peoples (shareholders) money to gamble and burn, in order to save their own inflated and unearned salaries and lifestyles?? Easy meat for HEYCO and no denial forthcoming from the culprits, why?
Great deal for Deltic. Should see a steady increase in the sp to at least 40p on the back of this excellent news. Lots more to come from Deltic this year also! A good share to hold with a solid partner in Shell.
Vernet, suddenly realising that HEYCO are in full control of both EOG and UJO's current production performance and future pace of development and there isn't anything the EOG and UJO directors or shareholders can do! Alarming isn't it? Directors of each company are now scrabbling around for other ventures to take some control of the sp's (without success) due to the extremely and possibly deliberate slow pace of the development of Wressle, Kedington and Biscarthorpe. HEYCO in control and could make a low bid to bail out the poor shareholders??
HEYCO working their magic again this morning. Delay, Disrupt and Distract!! Maybe 15p soon? Does DB, or any of the directors think UJO is worth buying into at this level of sp? Back handers for Directors are possibly easier to hide/get via private American companies ? Wisely putting the UJO cash to good use, eh? Think about it? Let's see how much return UJO really get out of the USA venture and of course the shareholders will get absolutely nothing!! Happy Director Days.
Oh!! What a surprise, HEYCO have missed the planned date for issuing the planning application for Wressle site. Subjectively the most financially important, extremely lucrative and most promising future development that both EOG and UJO have for the near term commercial health of the companies and its stakeholders!! Well it doesn't affect HEYCO much at all, in fact it goes well for their overall strategy. Delay, Disrupt and Distract, so as to freeze value of EOG and UJO. Easy meat ?
It could be HEYCO!! Think about it? They are in full control of Wressle, the goose that lays the golden eggs for EOG and UJO. Both companies are having the same problem with their dismal sp's performance, even on the back of good news ! Why? Manipulation? It will not be reported if they have borrowed millions of shares from other large shareholders in return for fat fees. Eventually, by selling the borrowed shares and keeping the sp depressed, normal shareholders will become fed up and sell at any price and go away, thus continuing the depression and gives them the opportunity to jump in and buy company at knock down price in a year or two of poor performance? Easy meat for them?
DYOR, makes absolutely no difference if HEYCO are in control of operations and end up buying out the company. They are a very rich company and have plenty of cash to splash, to ensure a good deal for them, with little or no risk ! Think it through, win, win!
It is HEYCO , if you haven't worked it out by now Joking ! They obviously have paid out cash to borrow (from a person/company who was given the shares and wants to make money by renting them out) millions of UJO to use over a couple of years or so, to sell when there are other buyers in the market, so as to keep the sp depressed. Makes sense if your aim is to buy the company at a low price. Also, HEYCO are in total control of the pace and have intimate knowledge of the operational flows at the Wressle, Bisc and Ked developments. It could be a fantastic leverage position to be in if you wanted to make a move on UJO at some stage in the next year or so? Their clever strategy could be working nicely? Another year of the HEYCO delays will get the long term shareholder very frustrated but absolutely nothing can be done? EOG and UJO directors will be tearing their hair out this time next year and only too pleased to sell at a knock down price?
Https://www.heraldscotland.com/news/13032463.couple-strike-rich-30m-sale-oil-venture/
Trap oil was taken over in 2018 by Jersey Exploration and Production and the Reach oil and gas original Directors who resigned in 2011 soon after it was bought out for £30 million by Trap oil restarted the Reach oil and gas private company in 2018. I don't think that Jersey Exploration and Production were interested in keeping the name of the company just the rights to the North Sea fields that Trap oil bought from Reach oil and gas in 2011 except for the ones that were relinquished by Trap oil as they were not seen as viable . Seems that the 2011 selling of Reach oil and gas at £30 million was very lucrative for the directors and not that profitable for Trap oil at the time?
HEYCO are not at all interested in meeting these provisional target dates! Another indirect means of strong control over the sp's of UJO and EOG. AIM company directors just sit and spectate as they are absolutely powerless. HEYCO are in control?
HEYCO still working their magic on the share price by doing very little and saying even less on progress. HEYCO a private company know what is going on, in every detail, but the shareholders of UJO and EOG are kept continuously in the dark. Can this be right and acceptable for AIM companies?
Discussing price of UJO sale and his salary and position on the HEYCO BOD. Oh yes! and his sustenance allowance at Greggs. Must keep his figure. Dare not show his face in public now. The future is not bright anymore?
So Milnrow, the sp is not drifting lower day by day? Which planet are you on ? None so blind as those who don't want to see. HEYCO strategy certainly working well. Soon will be able to buy out UJO for 20p per share and LTSH will jump at it. EOG going in a similar direction and buy out could now be around 1p if sh are lucky! WH and DB haven't any control of the pace or performance of operations at Wressle, Biscarthorpe or Kedington but just pay the ever mounting costs of the work, however long HEYCO take! Oh dear, their hands are tied.
Copper 3. Your comment "I still don't understand the E.G . deal .. why if such a great project the licence holders wanted to involve EOG."
Yes you are correct to question this deal as it smells fishy. EOG directors may be in bed with the licence holders directors. EOG are to pay £3 million for virtually half of the licence holders company. Does that mean a large chunk of the £3million of the EOG shareholders money could circulate back into the EOG directors bank accounts by way of a thank you from the licenceholders ? No one is saying how much the current licence holders paid for the obtaining the licence. Nothing is what it seems
Smoke and mirrors to get £3 million from the EOG shareholders into a private companies hands which the directors are free to use and all seems perfectly legitimate and above board to the outsider and the poor old EOG shareholders. Stinks doesn't it, to high heaven?
I am sure the UJO and EOG stakeholders see HEYCO for what they are! But there's nothing they can do about it, without losing big time financially to HEYCO. Will WH and DB get seats on the board ?