Member Info for Jabez135

Whats taking so long for the Bisc appeal?

When are the YE accounts expected to be published?

When can we expect a drill date on the risky assets (WN), and what is the anticipated total cost and what is our share?

When will we see the results of monetising the gas at Wressle. What is the approximate worth

Perhaps some of these questions need answering clearly and with some degree of risk evaluation to give back some confidence

Is it me, or are the trading volumes/transactions so much less at the moment

Is this a good thing?

Spill ?

Heid, i am not critiscing the prediction per se. I dont think fell beyond the realms of possibility, but, it wasnt a probability. However, the way its gone, which is down, by a lot, is for me, quite baffling. Unless of course, as i say, the risks associated with the other none producing assets is putting serious investors off.

We speculate

I hope you are right mate, but the Jam tomorrow story has been going on for years now. Remember the infamous £1 by christmas.

Dont get me wrong, i am not down on the company, i am not sure what more they can do. As we say, the performance has been absolutely excellent.

The only justifiable reason for this SP, for me, is - large costly risk associated with the other potential assets (Bisc, WN).

Its quite the stock this isnt it.

last 3 months have seen:

Record Income
Record Cash Generation
Lovely Balance sheet
Share Buy Backs
Dividend paid

Yet, the SP is down, in that period around the 20-25% mark.

Obviously, there are a number of folk who bought in during the 11p days, and in their world, they are 3 bagging. However, like a lot of us, our SP average is around the 25-35p mark, who in reality, have not seen a penny back in years.

Please god almighty, something happen to the SP !

Outstandingly Ignorant policy making.

China is one of the largest Co2 producers, largely because of its coal power plants. The quicker we can get them on gas the better!

CynderLad - Your view may have credence. I dont know.

If however, you are so negative, why are you here. Are you invested? If you are, why would you just not sell and move on?

Hmmm actually i think i may be wrong here.

My initial understanding was that the increase in value wouldn't be recognised in the P&L, only a write down would be.

IF the 4.3p share value is the "fair value" then yes you are correct, from what i can see the value of £370k would be in the P&L.

Happy days

Not my forte as an accountant, but that's not how it works. You wont be seeing an increase in profit because the share price has gone up

I do not see WN as being a risk, they are now going to target the Gas, the gas has been known to be there from 1st Rathlin drill, and well before ujo even got involved , I see them prossibly doing a horizontal/ from existing hole and monetize from that 1st one, WN and its 2x m8ni-me's will end up being sold as its absolutely HUGE.
Very nice for us holding a 16.665%
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Hopefully you are right mate! But it has to be seen as some risk giving the volume of cash required to get it online

You will get recommends but you will not rid the rot on this board.

Some of the male in fighting goes back an is too deep routed.

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Just ignore it, and dont engage

Honestly, this board, it offers no value whatsoever, just endless personal digs at each other. I honestly thought, when getting into investing that boards like this would be full of people really invested, pragmatic, business minds and its no better than a facebook local area page.

However, for what its worth. I see UJO as a great potential to succeed. The endless positivity from some isnt warranted, but nor is the endless negativity from others. I feel the reasonable and sensible pragmatic view is that a lot of good things are going on. The RNS's are indeed very positive, but the RNS's rarely talk about the risks that are current and very real. So whilst Wressle is producing, at fantastic rates, credit to all involved, WN is a huge risk still, with a significant amount of Capex required to get it online, not to mention a lot of time, at which point the oil/gas/energy markets could look very different. They could be positively different, but its the uncertainty that i feel is holding away investment.

I am still hopeful for a good return on this, with an average around the 32p mark, but there is a long way to go and significant risks to be mitigated before that will happen. That said, what a great place to be that you have the cashflow available to be able to do this without (hopefully) going to the Shareholders for a borrow again.

Please stop the endless bickering. Not of its new, or original or adding anything or taking away from the SP. It just looks daft.

Best Wishes

Guys - genuine question. How can a company with accumulated losses pay a dividend?

I suspect profitability is far off at the moment, as i think there is still some write down of investments to happen, as not all of them are going to come through. We are brilliantly cash generative and the future looks bright.

I can only see a buy back as viable option. The way i see it, is the placing was a borrowing from the shareholders, which needs to be paid back.

Good post AIM.

You have to be sniffing a whole lot of glue to think that a Windfall tax will help anything. People cant criticise the government for bad management of money and then continue to advocate for "more" tax. Where do they think the tax goes? Straight to a government that wastes it.

O&G needs to retain its profits for the huge investments it needs to make into renewable energy sources. The current mix isnt sustainable as a lot of them are unreliable. The government would be better placed to incentivise investment through favourable tax regimes.

What is interesting is investor sentiment towards stocks like UJO seems to be low? I can understand why this would be if you had half a brain cell, but if you are endowed with full brain cell its very easy to understand that domestic production of energy and oil is highly valuable to the environment long term if the government incentivises investment by O&G companies into renewables

i think i am confident to Heid, but i feel your valuations are 6-12 month away. Work to do!

I personally don't want a dividend. I see it that a share buy back will be repaying a loan from shareholders they took with the placement.

However, all I am really interested in is the cashflows being available to maximise Wressle, and turn around our other assets quickly. So really it all depends on the values they intend to pay as divis, or pay in buybacks. Cashflow is key to ensuring the assets we have eventually turn the profits. This is what will really give value. Given some of the numbers being thrown about for Wressle alone, our M/Cap looks undervalued - perhaps 60p is fair"ish" as we live and breath. Its probably the unknown costs for bringing our other assets up to speed thats holding it back.

All seems healthy at the minute though!

All the fundamental's do seem positive, but it is highly frustrating that the SP cannot break through the 30p as you say. I can only envisage that the costs and risks associated with the other projects is breeding caution, as there isnt just the future costs to consider, there is the write down of accumulated costs to date if a large project like WN was to ultimately fail. I still honestly think this is 12 months away.

Could have the opposite effect. Market Confidence may increase, stimulating investment. Oil price isn't the only driver, and given that the profit margins in successful oil production are very very high, price sensitivity in the short term isn't likely to be a huge deterrent to investment.

Jabez135..........well you have just made yourself look a right clown. I suggest you read up what constitutes a balance sheet!

Wow - this seems unnecessary, i have only asked a question of RNS - its not unusual for people to misunderstand balance sheets. Why the hostility towards me?

To answer some of the queries - The receivables could be any number in theory, because the number can increase for "unpaid" sales (for want of a better phrase), but the number also reduces if you have been paid. What i have sympathy for is the definitions, i think it would be more transparent for Shareholders to understand the makeup of the "Receivables". As an accountant, if I am to present something like this, I would be hesitant to include loans within receivables. People assume (rightly imo) that receivables is "Trade Receivables" i.e. monies due within one year from Trading activities. It does leave a level of ambiguity the way the numbers are presented because the picture is incomplete (as RNS points out). That shouldn't detract from the overall overwhelming positivity that the information is. Its just a little unclear.

Moving forward, the picture appears positive - Sales Up - Cash and Receivables Up, Sentiment around oil and gas Up, Risks down. Hopefully for all those invested, we can see a positive reaction in the SP. Still feel this is 12 months away from a return for me