Member Info for Jabez135

I dont think anything that would be cash generating would form itself into a return to shareholders. I think all cash will be held to cover the risk of WN.

All the suggestions below would likely require a cash investment first, further reducing the potential for return to shareholders in the short term.

We arent getting anything back here for a good few years. Unless.........we are bought out.

Id take 40p now

Probably not too far away with that assessment itsawrap.

What it basically says, is that we are somewhere like 2 years, and a lot of risk to get over before seeing a return.

Anybody else have that hunger to sit it out?

Some have been in 5-10 years. Youd of been better putting it in the bank!

Obviously the Biscathorpe decision has had no bearing on the view of potential investors towards UJO with the most minor of gains.

I have speculated this before, that the WN "asset" is potentially holding us back. Whilst its a potentially huge asset, its currently very much a liability with a potential speculation to turn into an asset. So any cash earnings we are seeing now, are being earmarked to plow into WN, with a good amount of risk that it wont pay off. This is perhaps why there is no site of any meaningful return to investors - all the while the Directors are all earning very very handsome salaries, off the back of shareholders. This is solidified by the fact that the recent buy backs are held in treasury and not cancelled.

TBH its not great. Some are here a long time, and the communications to the shareholders do not give any confidence to a return on their investment. Even the jam tomorrow has a bitter taste

It took 5 years and 20,000 posts for the penny to drop for Heid but she got there eventually. Well done girl! 🤣

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Or she has made a fortune trading, and has now been tipped off about some bad news

Thanks for the comments back.

I dont think i am saying that the SP is down to mismanagement, but i think as Milnrow has just said - the job of the BoD is to provide a return to the shareholders. The SH's are currently still propping up the cashflow of the company, and the BoD's are receiving salaries so seeing a return. Yet LTH's have seen absolutely nothing (barring tiny irrelevant Dividends).

I know we have to speculate to accumulate, and those in charge of operating that speculation very much have a difficult job to do, given the regulatory and cultural environment, and they also need to be paid to do their jobs, but hand on heart, who here, outside of trading, is expecting to make a significant return on their investment in the next 12 months. I think a lot arent confident. And its a shame, because on paper the assets look real, and hot. Ive been here 3 years now, and i am sure a lot have been here a lot longer. When do those who have been here a lot longer get out

Patience is now very thin.

Whether the regulatory environment, or the cultural environment or pure mismanagement from the Board, who are, as mentioned, taking huge salaries, being paid for by the shares, is the cause of the poor performance of the SP......who cares. The facts and figures speak for themselves.

Patience is now measured in months and if no significant, material and reasonably certain chance of a turnaround in the SP then, surely, folk have to consider cutting their losses

To cut the losses.

A lot of LTH's i suspect are in similiar positions, thinking the amount of years they have been in, and what return they could have achieved through low risk areas.

We all expect AIM to be high risk high reward, and thats fine. But this is currently high risk, simply no reward.

Endless Jam tomorrow, endless regulatory restraint.

Thats not to say this is the board at fault. Perhaps more indicative of how difficult it is to do business on Red Tape Island!

When do you make that call!

Another risk to shareholder return Heid. All the while the Directors are being paid and getting a return. I dont deny there earnings, thats fine, but shareholder value continues to be eroded, with the risk profile now increasing, not decreasing.

The lack of comms leads to a worry for any investors, short or long term.

The cash pile means nothing to shareholders if its going to be ploughed into investments which have no guarantee of a return.

I think the LTH's deserve a plan to be set out, which clearly indicates how the current cash pile is expected to be utilised, and how it is expected to reward its LTH's who have stood by, and so far had a pittance back

Its "and". It just is! Its always been "and". Not "an"!

Come on!

Comical ! Haha!

Sommets going on. Heid saying she would take 50p now. We were nailed on for a quid not that long ago.

Tune has changed on DB quite significantly. Literally could do no wrong, now some decisions are being questioned

Somethings going on here!

TAC - i think most are understanding that the ship is "turning", but it isnt turned, and a lot of people are still in "negative equity" with this share, and are not receiving much return.

We arent here to congratulate the board on their hardwork, and tell them how great they are, or indeed how bad they are. We are here to make money, and a lot of LTH's are still some way off seeing a return. So frustration is totally understandable.

That said, its been a sea of good news over the last 12 months, and some very good news potentially on the horizon. Hopefully the Jam tomorrow, becomes Jam today, very soon!

Good luck!

Can definitely feel something like this happening. Its shocking to see a supposed "conservative" government so heavily regulate our economy. Red Tape Britiain! God help us if the left get in and potentially add more.

We need a proper conservative government, not this pandering soft lot bowing to cultural whims that come and go.

Sadly the genuine conservative minded individual out there has nowhere to vote

Comon! We need some traction!

Hahh Im not sure Persi - there has been a lot of Helmets around this company! Safety First!

Indeed - Great results.

For me, once we are satisfied we are profitable, which we are, the most important document is the statement of cashflows. This tells us, the cash generated from your "operating activities" and how that is being utilised to the furtherment of the company and shareholder value.

Interesting to see that there was £5.8m of cash generated from operations.

From that, there has been 2 major purchasing lines £712k of intangible asset, and £2.8m of PPE (probably the equipment at Wressle) and a further cash item of £900k in dividends. So basically, cash is being spent on operating costs (which are efficient), investing (the intangible asset and the PPE) and some shareholder return (the divis). Overall for a net gain in cash of £1.1m.

So for me, we need to retain cash at the moment, and this balance of investing and shareholder value is probably somewhere about right.

Its totally ridiculous.

In our oil industry we have the means in skill, wealth and will both publicly and industrially to extract our oil, use it well and re-invest in to green renewables. This wont happen overnight, but its also not the case we have been doing nothing.

We are fantastic country being taken to the dogs by pandering to illiterate neurotic liberals without a rational bone in there body.

Get the oil out, use it, spend the money well on a good future.

Production Price Number of Days Income £/$ Conversion @ 0.8 Cost of Prediction @ $17.50 Gross Margin GM % £/$ Conversion @ 0.8
308 $75 365 $8,431,500 £6,745,200 £1,967,350 £6,464,150 77% £5,171,320
308 $80 365 $8,993,600 £7,194,880 £1,967,350 £7,026,250 78% £5,621,000
308 $85 365 $9,555,700 £7,644,560 £1,967,350 £7,588,350 79% £6,070,680
308 $90 365 $10,117,800 £8,094,240 £1,967,350 £8,150,450 81% £6,520,360
308 $95 365 $10,679,900 £8,543,920 £1,967,350 £8,712,550 82% £6,970,040
308 $100 365 $11,242,000 £8,993,600 £1,967,350 £9,274,650 83% £7,419,720

Production Price Number of Days Income £/$ Conversion @ 0.8
308 $75 365 $8,431,500 £6,745,200.00
308 $80 365 $8,993,600 £7,194,880.00
308 $85 365 $9,555,700 £7,644,560.00
308 $90 365 $10,117,800 £8,094,240.00
308 $95 365 $10,679,900 £8,543,920.00
308 $100 365 $11,242,000 £8,993,600.00

TAC - I am positive about the company overall, but we must be concerned about the performance of the SP. Whatever we may think its worth (60p +???) the market doesnt seem to agree, and i think there are good reasons for the hesitation from the market. Overall we have had a fantastic 12 month of meaningful material game changing results, but there is still a long way to go

Its hard to be positive isnt it really

c15% down in the year on the SP
Tiny Dividend given a LTH perspective
Good news invariably leads to a drop in the SP

Its baffling as to why given the strong trading position and the "likely" positive assets,

But as we live and breath, shareholder return is quite poor. We all hope for that tide to turn. Heid will relentlessly promise Jam tomorrow and the good old fundementals will hopefully come through and shine eventually, but you do wonder if you are an LTH would it of been better to chuck your investment into an Index

Comon UJO! Get out of this rubbish SP position! Lets get to 50+ asap !