Member Info for JoeSmith

Https://scr.zacks.com/news/news-details/2026/UJOGF-Agrees-to-Takeover/default.aspx

I understand your point, but it’s difficult to answer your question fully or with specifics, that will ultimately be Craig’s job, hopefully. What matters now is moving in the right direction in stages.

First, we need to reduce or remove the current Board, stop the waste, and stabilise the company. Only then, with competent leadership in place, can we properly reassess UJO’s strategy.

Personally, I like the royalty model for several reasons, and there may be other opportunities once we know what level of free cash flow we’re working with after the necessary cost‑cutting.

If I’m able to attend the AGM and meet Craig, I’ll put my points forward, though I suspect they’re broadly aligned with his thinking anyway.

I, like you want a return on my investment. I hope that answers your question.

I agree. Shareholders now have a genuine opportunity to change this company for the better by backing Craig, someone who understands shareholder relations, values transparency, and has the connections and competence to move this company forward in a way that can actually increase the share price.

The market has no confidence in DB or the current UJO Board. Even RNS announcements that claim “amazing” flow rates or promise future drilling repeatedly turn out to be misleading or over‑spun. That credibility gap is reflected directly in the share price.

I will support Craig in reshaping UJO for the better and look forward to hearing his full plans. But the immediate priority, from what I gather, is pruning the existing Board and enforcing serious cost‑cutting. UJO is profitable right now, and with proper stewardship and real corporate governance it could become a genuinely attractive investment. Under the current status quo, that is unlikely. The Board has treated the company as a vehicle for their own benefit at the expense of shareholders.

Use your votes at the AGM to improve UJO and protect your investment.

Some valid points have been raised. The AGM, typically held around 27 June, will be our best opportunity to remove the current Board. With any luck, Craig or another capable candidate will step forward and take the helm. That alone could lift the share price and inject much needed direction into what has effectively become a lifestyle company with little understanding of how to deploy shareholder funds responsibly.

I’m not interested in finger‑pointing or excuses about why various projects are failing or under‑delivering. We pay the Board to resolve issues, manage risk, and execute a coherent investor‑focused strategy that delivers value for shareholders and supports the long‑term health of the Company.

The AGM is also the most practical moment to make changes, as severance obligations or other contractual costs may be triggered if the Board is removed earlier costs the Company simply cannot afford.

We are at an important juncture. Craig is eager for change, appears well-funded, and seems determined to drive it forward. There may be some horse trading behind the scenes, but ultimately there is hope with Americanos and CH pushing to challenge the tired, failed status quo of a Board of Directors that has wasted shareholders’ funds while drawing huge salaries without delivering meaningful progress toward building a profitable, growing company.

DB, Joe, and Bull must be removed from their positions. Encouragingly, there are individuals willing to step up and drive the necessary changes. The extent of shareholder support remains to be seen, but at the very least, we could achieve significant cost savings by reducing the Board’s inflated salaries while biding our time until a new governance structure is in place.

Let’s hope Americano replaces Bramill and removes Joe and Bull from their positions. I wish Americano every success as a NED; his influence should bring much‑needed discipline after years of poor management and questionable prudence from the current board, which has eroded shareholder value.

UJO does have a future, but it must rebuild shareholder and market confidence if it’s going to move forward. This Board is not the team to unlock the company’s potential or deliver meaningful value.

The upcoming asset review will be revealing. After Wressle has delivered over £18 million to UJO, it’s astonishing that the company finds itself in such a weakened position. This is the result of a series of poor investment decisions that resemble speculation rather than responsible, prudent stewardship of shareholder capital.

The Board has effectively drained the company to this point, and the supposed depth of industry experience they claim to bring is nowhere to be seen in the outcomes. The quality of decision‑making has been unacceptable, and meaningful change is now essential.

ITSAWRAP, I agree with most of your suggestions. However, I firmly believe that Bramill and Joe should step down, UJO has no future under their leadership.

It feels unacceptably quiet from Bramill and UJO. Any responsible CEO should be working tirelessly to mitigate the share price downturn and rebuild market sentiment. I struggle to recall the last time Bramill personally took action that genuinely increased our company’s exposure or contributed to a rise in the share price. Right now, the company appears to be sliding into disarray, with silence from Bramill and our highly paid Directors only deepening investor frustration.

Bramill, it’s time to demonstrate real management skills and take decisive action for UJO.

Itswrap, thanks for the link and feedback.

Thank you for sharing the data. Could you clarify what this translates into in terms of monthly revenue?

The current leadership under Bramhill and the Board has failed to demonstrate meaningful progress or accountability. Bramhill’s management of the Board of Directors is inadequate, and he no longer reflects the leadership qualities he once possessed. It is time for him to step aside, along with Farrell, whose contribution has consistently been limited and unclear.

Recent shareholder votes against management underscore a growing demand for transparency and fair treatment. Bramhill appears increasingly out of touch, and it’s difficult to identify any substantive action from a Board that commands significant compensation.

Despite Wressle generating over $18 million in net revenue for Union Jack Oil since production began, the company now faces yet another dilution highlighting a failure to convert operational success into sustainable shareholder value.

There is still a viable future for the company, but it requires a dynamic, decisive CEO with a calculated appetite for risk someone capable of galvanizing the Board and delivering results.

A leadership change and strategic reset are urgently needed.

Bramhill must resign. He has lost the confidence of shareholders, and if leadership remains unchanged, market sentiment will continue to erode the share price. His strategy has failed, capital has been misallocated, and company expenses remain disproportionately high. Of particular concern is the £12,000 annual payment to his wife for administrative duties an arrangement that raises serious questions about governance and fiscal discipline.

As noted in my previous post, we urgently require drastic structural changes and a comprehensive strategic review while revenue still provides a window to rebuild a profitable enterprise. Bramhill has not committed any meaningful personal capital for years; his recent investment was a token gesture, not a demonstration of conviction.

The roles and remuneration of certain Directors particularly in a non-operating company are increasingly difficult to justify. Our highly paid geologist should be placed on a performance-linked compensation structure, and the same principle must apply to any incoming CEO. Only then can we begin to restore shareholder trust and market confidence.

There is no confidence in Bramhill’s leadership or strategic direction.

Change is essential and the time is now.

UJO has recklessly deployed company funds, with Wressle being the sole success—more luck than strategy. Across the board, investment decisions have lacked proper due diligence, and the geological assessments appear fundamentally flawed. Shareholders were misled with exaggerated claims, such as a 60% return on OK drills and full payback within six months. The Germany venture was a complete failure, delivered with minimal explanation and accountability.

Brammel has alienated shareholders and retreated from meaningful engagement. He consistently ignored clear signals of dissatisfaction with his leadership and strategic direction. His re-election was narrowly secured, reflecting widespread concern over his performance and lack of transparency.

A full strategic overhaul is urgently needed. The company must pivot toward lower-risk investments and implement a more disciplined cost structure. Executive salaries, in particular, should be scaled to reflect the realities of operating a business with a £5 million market cap.

Thanks for sharing these figures. However, they suggest our market cap and share price would remain flat or potentially decline. The projected profit appears minimal, especially when factoring in that the Board of Directors draws over £600k annually in salaries.

Union Jack Oil (UJO) has generated approximately £30 million in revenue over the past decade, with the majority concentrated between 2020 and 2024.

Yet despite this substantial inflow, a significant portion appears to have been eroded by unproductive ventures, inflated overheads, and questionable expenditure—raising serious concerns about capital discipline and operational efficiency.

Chaos management and not in the share holders interests, we go from share buybacks at inflated prices, to investing in lame duck in Beacon £600,000 loss) to a 'dividend policy' and finally dilution. Shocking management and a lifestyle company.

Millions wasted...

Because of the lack of transparency…?

What were the voting results?

I am voting against David at the AGM for the following reason:

• We wasted £450,000 on Beacon.

• Indication are we will suffer further dilution after, buying back shares at no benefit to shareholders and a waste of time.

• We go from dividends to dilution it is ridiculous financial management.

• Lack of clarity on production data.

• WN is just being recycled with no definite plan with timeframes.

• The BODs pay is too high in relationship to their performance.

• There is a lack of trust between the BOD, shareholders and the markets.