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From my research EOG have approx £6mil in cash versus UJO’s approx £10mil, however without the expensive cash cow of WN to fund.
UJO’s market cap is three times EOGs with both having similar revenues (EOG have approx 80bopd outside of Wressle).
Both have different projects, EOGs look more attractive IMO with proven reserves at Serenity (discussions with Repsol Sinopec ongoing to monetise, 1,000bodp to EOG). And absolutely huge potential offshore Ireland providing they can secure a farmout.
EOG have a new younger impressive board with a clear strategy. UJOs strategy buying shares for treasury and paying the occasional (2 a year) small dividends, whilst doing nothing else is clearly not working.
IMO itsawrap was correct to sell UJO and buy EOG. Let’s see what the market thinks in the future….
It will be the same people here that who are against bringing in new go-getters to make something happen with this share, that will be praising it if they do.
“DB has no doubt chosen the right assets” LOL Wressle has absolutely been a success, however, look at everything else! Which the long term shareholders have paid for and been diluted to hell and back.
Again, it will be the same people here who are against new prospects that will be praising them if they’re announced.
“debt free, profitable, share buybacks and dividends” LOL no matter how many times a day you repeat this, the market is fully aware!
Wake up and realise that something needs to change……
“enjoy the dividends and look at this as a real investment long term.”
Correct me if I’m wrong but so far one small dividend has been paid and one smaller one announced in July. There is NO clear dividends plan.
And it’s now a real investment long term? Lol how many years have you been saying that for now?
Look at the prospects continually talked about on here, WN, Bisc, Keddington etc
UJO are in desperate need for new exciting prospects because the above are a waste of time/effort and the market/investors know it.
What is the boards strategy? Why aren’t they adding strength to the board with new blood (current ave age 78?) Why aren’t they investing their own money in the co? Why aren’t they adding new prospects?
Further more detailed info during this interview:
https://youtu.be/KQDVxG-H0O4
Theluckyone
You have lost the debate, let me guess you’re heavily underwater here and can't see the forest for the trees….
"when debate is lost, slander becomes the tool of the loser."
Have a good Monday :)
Have a great day :)
The luckyone….
Meanwhile, the average age of the board approaches 80, without any sign of bringing in new blood or adding new exciting projects to add any significant value.
As much as you don’t like to acknowledge it, this is factual. If UJO announced changes to the board with a new, younger go-getter who has a proven successful track record in bringing shareholder value, then you would be all be shouting from the rooftops…
This is a business after all, what is the succession plan, strategy or vision???
"Never fall in love with a stock; always have an open mind."
You might want to recheck those numbers because 40% of 32mil is NOT almost 15mil.
As much as you try to ramp this day in day out to suck in new investors, the market is fully aware of Wressle (which has been a great success tbf) however, there is f all happening with any other projects to bring shareholder value that UJO has.
Meanwhile, the average age of the board approaches 80, without any sign of bringing in new blood or adding new exciting projects to add any significant value.
Occasional small dividends and buying back shares (without cancelling them) ain’t going to cut it and it’s quite frankly a smoke screen.
Enjoy your Sunday :)
“Bank the dividends”
UJO issued one special maiden dividend last year, whereas there are companies on AIM paying a regular monthly dividend (for example i3e).
UJO production is around 400 boepd, whereas the named company above has around 20,000 boepd.
This bb is a complete joke and has been destroyed by one obsessed individual. At what point to admin step in and remove this individual to protect their and everyone else’s mental health?
Conceptual plans, huge potential outlays, lengthy timescales all based on a well that didn’t flow commercially! It’s the biggest jam tomorrow RNS I’ve seen for a long time! Congrats to the BoD.
As the volume suggests, there are simply far better choices available for investments, for example EOG (also a Wressle partner) drilling a huge and funded appraisal in the North Sea in the next few months….
This is AIM, turning the drill bit will move the SP, not conceptual plans, appeals, CPRs etc
Don’t get stuck with your shares here by listening to the mega rampers and jam tomorrow pipe dreams.
SP Angel!!!!
These are the type of brokers that UJO should be avoiding….
They were busy releasing broker reports just before and whilst the recent placing was leaked / announced. Wonder why?!
Why have UJO not taken any action in regards to the last 4 leaked placings???
Absolutely no respect for shareholders…..
Disappointing news re planning but no surprises as this is the UK we live in.
No doubt it will eventually be overturned and approved just like Wressle, however the main question is yet to be answered… will WestNewton be commercial, or not?
If not then this has much further to fall, look at the small market caps of EOG and EDR for Wressle, both with other different assets on the books.
Sincerely hope people didn’t get caught listening to the outrageous ramps that commenced a few years back by a select few with this stock…