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Will it play out like your prediction from this time last year??

17 Mar 2021 20:41
“ RE: 100p this year ?
Yes, 200p if we drill Biscathorpe and it is a success.
That's if some ****** doesn't leak info again. “

Got the last bit right I see, that was always going to be a dead cert tho’ eh? Deja Vu all over again???

GP, that's (presumably?) because you're not incorporated... and therefore cannot offset your overheads against your "revenues".. the joys of being a tax payer!!

"Wressle is transformational for the company yet your posts give a spin of negativity."
Why is pointing out facts and asking relevant questions seen by you as "negative".
Any sensible investor wants to know:
What are we spending money on, how much money do we have/expect to have, what is the risk on making a risk based return, and how reliable will any promised dividend be. What proportion of revenues actually flow to the bottom line, and what proportion of that is being re-invested in other not yet commercially proven projects and What is the company/managements track record in 1: making smart decisions, 2: delivering on promises.
You may find these questions as negative (which speaks more to your own agenda ) , most just see them as eminently sensible....

Of course the company is covered for the "foreseeable" opex and capex, because that's what they've just said.
The question is how much of the net income will that take?
Dividends can only be paid from surplus cash after Opex, Capex, Liabilities, Overheads and Tax.

"The choke will be opened further at Wressle so we will see an increase in revenues."
and have you worked out what that means in terms of net income (pre and post tax?)

From my understanding/recollection that would probably be the total spent by UJO on WN, including the original farm in promote.
I think they originally agreed to pay a disproprtionate share of the costs of WNA2 (33.3%??) to acquire their 16.6% share of the licence, after that the costs including B1 and B1Z would have been 16.6% of whatever was spent on the licence.

GP, At the risk of being called a pedant ;-)
"considering our current Wressle income of about $1 million per month based on the recent RNS."
This number is not income but Revenue... Revenue is the total amount of income generated by the sale of goods etc..
Income (or net income) is the is a company's total earnings or profit, that is after all costs and overheads and before tax.

Apologies - Its the latent accountant in me!

“ Union Jack is certainly not short of cash.”
That wasn’t the question, we’ve just been told how much cash and receivables they have…it was, how much do you think they’ve spent on WN, and do you expect them to spend more and do you think the suggestion of £1.6mm is reasonable?

Heid you asked a question, only to ignore the answer..
what happened to UJO's Gaffney Cline CPR report on West Newton, they started in May 2021...??

Additionally now you ask Heid:
Gaffney Cline in their own presentation say this about what a CPR should contain:
CPR Contents
A description of all the companies Oil and Gas assets
-Licences Held and participating interest
-Producing fields, discoveries, exploration prospects
-Associated Infrastructure
A summary of development Plans
-Associated production profiles and costs
A statement of Reserves and Resources
A basic economic evaluation of the reserves
A description of the technical factors that could
-affect the investors assessment of value
-Help an investor identify risks and opportunities.
>>Although paid for by the company the duty of care is to the investors.<<

So how is this different to a Reserves and Resources Report you might ask?
Nothing in the RNS as "additional reporting" cannot be included in a CPR, indeed most of it is required?
So why the change from a CPR to a R&R Report...?

"So... what's your thinking on this CPR ?"
Simple; About the same as this UJO Gaffney CPR announced in May 21: Any idea what happened to it Heid?

"Gaffney, Cline & Associates to Prepare PEDL183 West Newton Competent Persons Report
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that Gaffney, Cline & Associates Limited, an international energy consultancy, has been appointed to prepare a Competent Person's Report ("CPR") in respect of PEDL183 which include the West Newton discoveries at the WNA-1, WNA-2 and WNB-1Z wells."
The CPR will be executed immediately following completion of the imminent well testing programme of the WNB-1Z and WNA-2 wells."

"Maybe this one taken of the market as Branston done with Virgin airways"
Too true, he got into a bit of a pickle there...

"The NPV10 was over $20M on limited Wells within the license area was based on POO less than half of todays prices."

According to todays updated BNP Exane report paid for by RBD and now on the website, the California assets both Proven Producing (£2.6mm)and Proven Undeveloped (£1.8mm) have a risked Nav of £4.4mm.

"Took worse odds at the bookies" tells us all we need to know!
Your a gambler not an investor...

"Just below 50/50 chance of success then. Good odds"
It's that type of maths got you into this problem in the first place.
It's actually near enough twice as likely to fail as succeed. 65/35
If you want the Higher recovery (14%) model its 3 times as likely to fail as succeed 75/25.
Uncomfortable disclosures by one of the other owners, I know....

65% chance of no tankers at all according to RBD.

I'll take that as a complicit acceptance...

Just ignore all the planning noise, tanker, diggers, lentil deliveries or whatever else the yurt dwellers will protest about, and even when, or if it will happen. RBD's paid for evaluation published this morning clearly gives a 65% chance of commercial failure even at the low recovery factor valuation at WN. FACT.
Try and deny that Heid, TAC et al...

So you're suggesting RBD are being misleading, I'm simply posting what they have published today , and interesting that you don't want to read it.
I think you're the one intent on misleading..

Page 13 figure 14 if that helps...