Member Info for Jabez135

The principle role of the Directors is to ensure shareholders return.

A lot here - have been here for years. And have not got anything resembling a meaningful return.

Why is it of any relevance what they do at Wressle, when there is no plans in place for shareholder returns? Who actually cares what they do?

Peruse this board on a regular basis.

Talks of wells producing x or potential at Y, or bad decisions here, and good decisions there. Moaning from some, celebration from others, only one fact remains:

For any long term holder here - there has been basically a zero return. There is no other way of looking at it.

Any speculations, are so uncertain, so untrustworthy and so unreliable, its ultimately pointless discussing

Since 2000 - 2024

Global oil demand has increased from 76mb/d to 104 mb/d (36.8%)

Coal Production has increased from 4.7b tonnes to 8.7b tonnes (85%)

Co2 emission's from 25.5b metric tonnes to 37.15 bn metric tonnes (2022) (45.7%)

Sea level rise of 90mm

267 Gigatonnes of ice per year from Glacial loss

What does this tell us - It tells us that the great and powerful of this world have absolutely no idea what they are doing. They are not making any beneficial impacts to the measures THEY define as important to climate change - with near enough all measures, THEY define as important getting worse.

Meanwhile - the taxpayer, across the globe, is paying the price with increasing impingements on freedoms, increases in climate linked taxes, and in the UK, a significant and notable loss in standards of living. Yet the biggest polluters, in the shape of China, and India, have seen monumental increases in standards of living over this period.

Make no mistake, the virtue signalling west, and its citizens are paying the price of an unavoidable change in the climate - dictated by the Cancer of virtue signalling, and terrible leadership.

Get the oil out of the ground! Get it sold, get it used for good, get people wealthier, as its a demonstrable that the wealthier people become, the more concerned they become with the environment - Bjorn Lomborg talks about this.

Use the riches to develop real technologies, real innovation. Incentivise the great minds and abilities in the O&G sector to innovate, instead of hitting them into the ground, when it is them, who have powered, and paid for the mass wealth found in the western world.

Virtue signalling is a cancer!

I think a lot of that is fair enough.

Our communist anti-business, anti-innovation, idealogy driven government is destroying this industry, and to some extent the countries aspirations.

We are all going to get significantly poorer, and i think people will be making serious considerations of moving to america. So in this sense, its great that UJO are doing the same

Ooooh cant wait for 15p. Only 15p behind consolidation! Exciting times

Whilst i agree with a lot of what is being said in this article, there are some things rather irksome. This notion, that AIM is risky, and so, you should almost expect to lose money. Its a ridiculous read of things. Yes its risky, and yes people should know the risks, but when a company does become profitable, cash generating, with an "embarrassment of riches" it stands to reason that those shareholders who put there money at risk should be first in the queue to be rewarded.

These folk are absolute glue sniffing morons!

Our country and its eco zealots and their moronic methods to achieve there aims is literally incentivise and enriching bad actors in this industry. The only way, to get oil to be less used, is for its use to be less used. Drilling for less in one country has absolutely zero bearing on the demand for oil

These morons lauded and waxed lyrical that Britains last coal facility was closing. Yet these morons cannot simply read a basic graph. Coal use, has steadily increased! increased!!! over the years, and continues to, because,demand for coal is increasing.

We are simply offshoring our Co2 emmissions so we can pretend to look good on a league table of sanctimonious countries

What has happened to our countries desire to be innovative. We should be extracting every mineral, every natural resource out of our land, and using the wealth it provides to fund innovation. Getting the best brains and best companies working on long term sustainable solutions, that our little country can then sell its product to the world. Enriching us further, and at the same time cleaning up the planet.

I have zero issue with the net zero agenda, or the transition away from fossil fuels. Zero issue. The issue lies with the morons and the politics involved that simply lead to nothing changing, and an air of sanctimony waffing around already wealthy countries while everyone around them suffers the consequences.

Climate Change the death of us! dont be stupid! Stupidity is what will end us first!

Harsh assessment Funstar - but apart from the personal digs, there isnt much wrong with what you are saying.

As i keep repeating to all those saying well done to management for Drill A or investment B or RNS Super duper.........none of it matters. The only reason i am here is to make the money i put in, get bigger, and....its halved. Whilst director salaries have massively grown.

Do i think the Director team have done much wrong operationally? Probably not to TBH, revenues and profitability are all up and continued beneficial investments. So the least they could do, is cancel the shares they bought back, as an effective repayment of a the shareholder loan given to them from the placing

I really cant see them doing a placing to fund.

Cash balance is cash balance as at the end of the reporting period. THere is significant cash generating income between now and the dates to when working capital would be needed. Plus - we wont be paying all £5m out at once.

Staggering how the JV's notes on WN do not align - leaves a lot to be desired

Hmmmmm im not sure. Youd like to think there would be interest in the project, if indeed, it is such a huge prospect.

If the Company cannot find an acceptable financing solution the Company may be forced to enter into an arrangement that would significantly dilute the Company's interest in PEDL 183. In addition, if the Company is unable to defer these commitments, the Company may lose its interest in the licence and may therefore be unable to continue as a going concern.'

-------This is huge--------

Options - Buy out by a bigger company?

UJO working capital loan secured against interest in WN?

Rathlin - placing?

Milnrow - Taverham - Cheers for the comments - i think youre both right, its just timescale

We unfortunately live in a culture where disincentivising bad is implemented more than incentivising good, and the reality is that we have all been paying a climate change levy for years and years - where did all that money go, and why does the government need more - governments are useless

But anyway, more the point is. What are the board doing about this - the move to the USA is a good thing for UJO and i am somewhat a little gentler on my criticism of a lack of distribution to shareholders given the heavy investments in the period - But unfortunately, right now - that investment, the current returns on those investments are going to only one type of people....and its not shareholders

A fantastic set of half yearlys, and to some degree justifies the lack of distribution to shareholders, with well over £2m invested in what can only be assumed as profitable assets.

I think its a little disingenuous to say £3m has been returned to shareholders - as the Buy Backs weren't cancelled

The UK Government is frankly a disgrace. Their "punitive" tax "regime" on the industry serves nobody. Not a single barrel of oil less will be extracted or burned. It serves nothing to bring down Oil and Gas demand, it just simply makes the UK poorer and less attractive for any form of investment, and for that reason the board have done a great job getting us into the USA.

Again, fantastic results and a build up of portfolio - but, and its a big but.... where is my return.......

Post from UJO Twitter page

Just a little reminder, we try very hard to make this account somewhere shareholders, investors and interested parties can communicate and keep informed where possible of information about Union Jack. Whilst we are very happy to recognise both positive AND negative opinion, rudeness, aggression and abuse will result in the blocking of the account responsible. The bulletin boards are available for anyone wishing to pursue this type of action

Interesting post really, because i have never been abusive, but i am blocked. Critical yes, but abusive certainly not.

TAC

Shareholder return.

I couldn't care less if the management had discovered Jesus on the moon having a beer with his dad Joseph. If it meant i got zero return on my investment.

What they do, day in day out, sounds to me like good work. Brilliant stuff sometimes. But i am not here to say well done to a management team. I'm here to earn money. 5 years now. Zero return

PBOO - its fairly simple to me. The Directors arent bothered about the SP - They earn huge salaries, so are getting a huge return on their investment.

The only time they will be concerned about the SP is if they come to sell - where they will have a fair value discussion with any prospective buyer outside of any current SP value.

So as TAC will rightly say - the news coming out is always good, the board are doing a good job. And i agree. However, its fantastic news that someone won the euromillions last week, but it has not a scrap of benefit to me, so i couldnt care less about good news. I care about return on investment. And its basically zero, despite, having an "embarrassment of riches". Them almost saying that is a kick in the teeth. Its almost....Hahaha look how rich we are, and you arent getting a penny of it

I wonder if having a 75% tax rate on oil producers positively or negatively effects investment....hmmmm

Not with you on 14p Fair Value. How did you arrive at that.

For me, we can easily generate circa £5m EBITDA per annum. 8 x EBITDA is £40m, which is circa 40p. Overly simplistic yes, but doesnt feel to outrageous?

What do you think?

Heid - i agree with you on the crux of your point that shareholder return is basically non-existent.

However - the other side of that is. Why on earth would be want to generate income from West Newton, when our prime minister, Diet Corbyn, is going to put his hand in your bank and take any gains off you. May as well just sit on it and wait for sentiment to change