Member Info for Jabez135

Totally agree Gruyere.

Just for me, i don't get the positivity towards the good things the company is doing. That's not to say negativity is the right way. But for me, its just a shrugged indifference. The company could discover the secret to eternal life, but if there is no viable return to me...…who cares. So in that sense, i think its fair and right that the board feel pressured from disgruntled shareholders at the lack of return over the periods of time we are talking. I mean, if youve been here 6 month, you have nothing to be moaning about. But 6 years, and you havent seen a meaningful penny.......the board should be feeling some pressure? no? As you can say, we all have the choice to pull out and sell at any time of our choosing. But for me, i do see a return, its just i dont want to be at retirement age when i do!

Gruyere - given the share prices poor performance, how else is a shareholder going to realise value.

You're almost saying "Stop moaning about not getting a return on your investment". I mean....what else are we here for?

Anyway - fantastic news on this well, and the foray into the US has borne some fruit for the company and its directors. Lets hope a viable plan for the shareholders is in place. Feels to me, a sell, is the only option for a meaningful gain.

I wonder what a fair price acquisition would be per share. My view is 60p

CT5 - Honestly, i think some of the stuff they are doing is absolutely excellent. Much like it was absolutely excellent when they drilled Wressle and Keddington and got planning here there and everywhere.

There is a time value to an investment. Investors need a return and so far, we have had nothing. Over a very very long time. So what faith do i have that even if the US flows like the Mississippi, Wressle gets stronger, even West Newton turns productive that me, as in investor is going to get my return, that also reflects the pounds shilling and pence, and the time value of the investment.

Lets see - as i say, some great stuff, but we need to start seeing some positive returns for investors.

CT5 - Thats up to you obvioulsy.

Fact remains - zero return. Its not good enough simple as. I get they are doing really good stuff. But its only really good stuff for me, if i get paid. Currently, i am not

Rewind back 2/3 years and exactly the same was said then. We all remember the £1 by christmas! But we all also had the belief that this could touch a pound at some point

Irrelevant anyway.

Getting into year 5. Zero return. Zero.

Ribeye is talking about the total size of the well- it could 1000 BOPD, but if it only does it for 3 days, thats not really great is it.

Hopefully we can understand the size and quality very soon

Still - no SH return on the horizon

The chances of success are irrelevant if it doesnt provide shareholder return.

Oooooo my own thread! lovely!

I think the conversation again, turns into....."Good or bad job". I honestly dont care. If the board where doing a bad job, but i was getting a return, id be happy.

In terms of "selling when the price was 50p". - I didnt come here to trade and make money of other traders. I came here, on the idea that there was a great little company, with great assets that could provide a very solid return to all involved. The great assets are there, the board is, on the most part, hands tied, doing a good job. The fact remains - zero return for shareholders.

Its no good telling folk - ahhh well, you should of sold at 50p in a volatile spike - long term that serves no benefit - investors needs confidence - and most people here would of been better chucking there money in an ISA! - So if your answer to those investors is.....try and guess the spike - they are --- going to go elsewhere - and who does that serve?

CT - im not interested in good bad or indifferent deals. Im interested in getting a return on my money. No more, no less. How they do that, how they achieve it, what the external factors are simply not of any interest to me.

All i have is the facts. The fact is, ive been invested here 4 years, many have been here a damn sight longer, and we have had the square root of nothing in return.

The directors are paid to worry about the ifs, buts and maybes, and ensure I, and every other shareholder gets a return. They are paid quite well to do the worrying

So there's no positive, or negative or any other subjective judgements. Its objective facts. 4 years, no return, and as i say, some a lot lot longer.

Understood Mukka, and i agree.

However, it is nice to see some of the cash being utilised.

What's more disappointing more than anything is that the UK, with its red tape, its cultural nonsense has become uninvestable by this sector.

We have here, a company who's very name is British, and is absolutely motivated to invest in this country. Yet, it meets red tape, nimbys and a government opposed to business.

Incredibly disappointing that the Chancellor extended the windfall tax, as if this is supposed to motivate investment. The companies are owned by shareholders, who want a return.

Sad time for Britain, when a little oil company awash with cash, cannot invest in its own country, because it will take 3-5 years at an absolute minimum to see any return.

Our country will suffer greatly because of this

Sorry Christine,

I disagree with you at this stage. The board of directors job is to provide shareholder returns. There are many factors that decide on what a "good" return is. One of them is time, and frankly, lots of LTH's here have been here for years, and not seen a penny back. I dont deny the Board their pay, they are obviously extremely competent individuals building a good little company, however, shareholder return is non-existent. So far, 99% of all the positives in the company are funded by the Shareholders, given it was there investment that bought into all the assets, and funder the working capital needs for years. We are of course now revenue and profit generating and the LTH's are not wrong in querying the timing of when they can expect a return. A shareholder wanting a return, doesnt mean its to the detriment of the board of directors

I understand the sentiment, but i think thats a bit overly negative. But it is last chance saloon for a lot of people i imagine. Its always jam tomorrow, but we are told, the jam comes late this year. Lets see eh!

Answering my own question - circa £5m as at end of Dec 22

If WN isnt a goer - do we know what the capitalised spend is to date? As this is the amount that will need to be written off

The speculated TP from memory when i first came in was around the 90p mark, and i am sure i saw high forecasts of well over Heid wondrous £1.

So at 60 odd pence its not really all that impressive, given a expect a lot of peoples averages are around the 25-35p mark.

Doubling your money over 5 year period on this kind of share, with no other form of return, isnt really inspired perfomance is it

I sort of see what you are getting at. However, what is this SP worth.

Phrased like this, it becomes quite obvious why the SP is low

"Some LTH's have been invested for 5+ years. Have received (what is in effect) zero return, and arent expecting a return for at the very least 2 years, if, 2 or 3 risky assets come online, of which the assets will only come to fruition if the operator can bring them on online, of which this company has no control over"

Obviously you could say - Has millions in the bank, fully funded for future planned drilling activities, of which all have high probability, high value returns.

But you can see, its very easy to frame it the other way

Its absolutely clear to me that amongst the delegates and dignitaries that the title of this thread is rife amongst them.

IMO, the removal of such products will lead to the death of millions, through indirectly caused inabilities to create wealth.

The transition should be focused on the fact that the resource is finite, not the climate agenda. Its too late to "fix" the climate (if it was fixable in the first place). We should therefore be using all our available resources to adapt to the forecast changes, not trying to prevent the changes.

8 Trades so far today on the glorious UJO

145 Trades so far today on the speculative BCE

Hells Teeth!

We need something to spark interest!

Thanks all, well thats good to read. Ive no idea where i have picked up 130million from!!!

Lets see then eh!. We just need to start seeing a return as shareholders. Positive news about the Wressle plans, but the planning i suspect will take a while, probably refused, then appealed and won!

Lets get that balance sheet value de-risked - hopefully then we are attractive to investors, and in my view a sneaky buy out by one of the big boys

Is that correct Itsawrap? I was sure i read that it could cost £130m to get WN online?

Unless i have totally misread something!

Been a long week!