Member Info for Jabez135

Hi Pboo,

For me, it was a very speculative first foray into investing of any kind. Obviously, naively, the expectation and speculation was that the SP here could 3x-5x.

On reflection, this was obviously nonsense from a pure fundamental's point of view - how is it, a company doing a speculated lets say £20m turnover, be worth £100m+ - assuming £10m profit on the £20m turnover, would still require 10 years to justify a value of £100m.

That all aside - the company has been at the sharp end of one of the most delusional and ridiculous expeditions in human history - the green agenda - Not necessarily the outcome - but the means to achieving it. However, more the irksome part of this is the Directors share in the risk - they are all doing very handsomely out of this, whilst it still technically owes money to its shareholders. Do i want them paid well, yes, do i want them incentivised to do a good job, yes - but frankly - the sums taken out by them, dont pass the test of honourable and reasonable extraction - whilst we all go with the square root of nothing.

But - i suppose thats the game

Think you are missing my point Heid

I genuinely dont care what they do. Issue Warrants, drill this or that, start selling pokemon cards for all i care. All i care is that whatever they do provides me with a return.

Communication needs to become this way -

We are issuing a warrant - and this is anticipated to provide a return to shareholders of x

We are drilling here, and this will give a return to shareholders of x

We are entering the realm of Pokémon cards and shareholders can expect to receive x

Telling me they have done anything, without telling me what it is very likely to mean to me is pointless at this stage. Because so far - everything they have done has only lined there pockets at my expense

We have to stop talking about Warrants, data, flow rates, drilling, perforating.

I dont care what they do

I care that what they do provides me with a return. None of the data coming through tells me how it benefits me. BEcause even if we struck the biggest oil discovery in a millenia and it cost 14p to drill it - I simply dont believe any of those fruits are coming my way.

Shareholder return is the only objective - everything else is distracting nonesense.

The board need to give a plan on how they intend on providing shareholder return, and what that could look like 12 months, 3 years, 5 years and 10 years

If the board do not have this plan, or this plan has very low real chance of actually happening - then the gravy train needs to be stopped

Madness - Shareholders are not interested in the frittering about at the edges. We have no return on our investment over 10 years......A lot here, need to see the share price increase 6xFold to break even - and you think we are bothered about some hope and guarantee to buy shares at a price 60% above where we are now.

Lets start seeing some real performance from the company. Old fashioned x amount of income, x amount of profit, x amount of dividend, and may be the shareholders or future investors might start feeling there is something of value here

I cannot see why anyone would part with there money given the current salary structure, historic shareholder returns and the risk involved in future prospects. Nevermind at 30p, where there is basically a zero chance of a shareholder return, 5p is looking very dubious on a return.

Why on earth would you give this company any more of your hard earned cash

Are the Directors going to issue to shareholders a fully costed forecast that gives at least a plausible plan to give shareholders a return....perhaps this may give some confidence. I wont hold my breath

I dont think any positives can really be taken. A company delivering a half year £400k loss, paying salaries of £400k plus with little to no shareholder return, and flagship assets in serious decline, and any other investment being speculative at best, coupled with the UK hostility towards O&G, and the required cash to develop our best UK asset, which we only own 16% of, after 10 years of cashflow provided by shareholders - frankly - Is really poor.

Someone tell me im wrong? Somebody show me how future cashflows will reap rewords.

When terms like "the future remains bright" keep being thrown out - when is it....you are actually in the future that's supposed to be bright

Lets not forget Heid - you where the biggest advocate of this company for a long time, and very much bought into the jam tomorrow

Staggering Assessment Number6.

Lets lay out the truth.

1 - Most shareholders are deep underwater in respect to the SP, I know i am at about 28p ish

2 - Directors are taking huge salaries

3 - Our flagship site - Wressle is now in decline, understandably, and its cashflow has funded Directors pay and the venture into the US

4 - The US is not adding anything right now

5 - Shareholders have received what amounts to nothing - given the period of time most people have been in - some getting on 10 years - I am in year 5 with no meaningful return

6 - Capex on WN is large, with no guaranteed returns, so will require some form of funding mechanism, which will further impact on the ability of shareholders to receive a return

7 - The UK landscape is moronically hostile to Hydrocarbons

8 - A buy out from a larger company seems unlikely, given point 7 and the financials as we see it now

9 - As these years pass, and the cashflow present in the company is only enough to feed the directors salaries - shareholder return is basically guaranteed for 5 years at least at zero

I cannot see, any compelling case to invest, or even stay. Regardless of Director performance, and what they have done - they have done so to line their own pockets. Which....fair enough to them.....they can do that. I personally see my investment here as a bad one, based on thin ideas of potential, and not really much substance.

You can maintain your outlook, and only time will tell - but frankly......good luck

Never complain at a restaurant, you could of cooked the food yourself!

Great logic

I absolutely could not care less about how many wells they spud, oil they extract, the oil price, Big Dave and his pals exorbitant salaries, or the design of Ghandi's flip flops if.......as an investor i see a return.

So far. Zero.

When investors get a return - perhaps the whinging will stop. Run the experiment - I could be right you know

This will simply be, so they can turn round and say they gave the option to shareholders - hands up , we are innocent here.

Fact is - Directors are taking exorbitant salaries. Company is valued at £7-8m, and shareholders, who have funded it all, are getting absolutely nothing back

Heid - there must be people who bought in at the 40s/50s - albeit probably not a lot

I dont think there is any good news here for shareholders. Good news for Directors earning salaries.

I have been here 5 years now, and its been an endless stream of good news, successful drills, BOPD this, BOPD that, yield this yield that.

Fact is - If you are shareholder here, you are likely very down on your investment. You have had next to zero return, and an endless promise of jam tomorrow.

There isnt good news for shareholders. Its as simple as that.

Im out now. I have to cut my losses. Frankly, although not a criminal offence, and there are supposed mechanisms in place to prevent this, i cannot continue to sit with my money in a company where the shareholder is simply provided with zero return, whilst the directors share in exorbitant salaries and no real skin in the game.

Good luck UJO'ers. No doubt the share price will fly now im out! Haha

By deifnition with the SP being the lowest its ever been, nobody can be in profit

Sadly PAUL1DEANO, the Net zero nonsense is a cancer that is spread across all persuasions of government. Boris Johnson, someone after reading his autobiography i have a lot of time for, even buys into it.

The hard facts of the matter is that demand for fossil fuel is growing, this despite all the pressures western governments have put on it to make it less viable. The moronic idea that if Britain becomes net zero, that we somehow "save" the planet is utterly utterly shambolic thinking, when a nation like China is still building coal plants, Yes coal!

The government would be better placed absolutely extracting every drop of oil and gas out of our land and using the riches we generate to invest and develop new technologies, this will create demand destruction of fossil fuels. Without removing demand, we simply fooling ourselves. Its basic principles.

Chemical giants, O&G Giants, Tech Giants and the Education sector should be incentivised to this - not by taxing them into submission (as is the thought). The reality, is, we dont tax them into submission, we tax them into moving elsewhere. So we lose the capital, we lose the IP, we lose the brainpower.

Honestly, some of these people running government, I wouldn't let them run my bath, never mind a country

As for UJO - my disappointment is that the Directors are not sharing the challenge with us. They are extracting handsome amounts of money. Our money, and id like to see them share with us the challenge

JokingU - The shares sold raises cashflow for UJO for it to invest. It has invested, and so far, the P&L has not delivered enough to offset the values invested. Distributable reserves, have not been distributed to shareholders. Its as simple as that really.

Lots of money in - nothing out.

Who is getting paid.... The Directors......good......i want them to be well remunerated.....but what about us!

Its ok saying that itsawrap - but what's your plan afterwards. Who is going to run the company, and create the opportunities. I stress, I don't think the directors are doing a bad job, I just think they don't have enough skin in the game, and its entirely at our cost.

What is the plan for the shares held in reserves?

I actually don't think we should develop any UK assets. I don't want to develop, make a profit, just for the communist government to steal it from us. Go elsewhere, invest somewhere else, which we are doing, but Id like to know the plan for shareholders. What is the plan to get any of us a meaningful return.

Its a big hill to climb now just to get parity.

What is the plan DB. Give us a clue

Its really getting there now, seeing the SP at 8p. Outside circumstances aside, which influence the SP, which are proving challenging circumstances.

I am now getting to the point of frankly being disgusted at the Director Remuneration. This company is almost entirely indebted to its shareholders who have funded the entirety of every project, and haven't seen a meaningful penny back. Do I want the Directors to be well remunerated, yes of course, but frankly, our money, is simply being moved from our pockets into there's and that's not what investing is about. Close to cutting losses here! 75% Down! (with an embarrassment of riches apparently!!!!)

What is going on here - SP going nowhere

No news anywhere

No positivity

No attempt at bringing S/H value