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In view of your comment recently -

“EOG could be vulnerable to a bid due to its low mcap but I very much doubt that's on the cards (I am a big fan of EOG, I have been selling UJO and buying EOG).” Are you still confident in your decision to reduce your shareholding in UJO on the Barryroe news today or do you think there will be no impact or possible repercussions on EOG’s activities in this area?

Nieve? Heid, you are so nieve 😂

Time to buy a dictionary Pboo. If you are going to accuse someone of something at least spell it correctly.

Yes Justbe, let's go with the belief then that the board of directors intentionally leaked the placing to Tom Winnifroth and others in order to crash the value of the company and reduce the value of their own shares, that makes a lot more sense. 🙄

In Union Jack, I see you regularly slate Reabold, you remind me of someone who left this BB recently. 🧐

Pboo, you just need to educate yourself on the accounting system.

Jack is also known as John. Is it 'Jack' or is it 'John'?

Only a few analysts I see who have recently slated Union Jack.

Are you into diamonds as well as oil?

JackDiamonds, now come on, "3 days for a 10% swing in cash. Maybe the Directors get paid mid month as a concession"?

Are you that dedicated to negativity to blatantly lie?

There was no swing in cash and it has been clearly explained in a number if interviews this week that the share buy backs and the Egdon shares were not included in that balance.

The leaked placings were not down to the company, they would have been third party leaks from the stage where soundings were carried out. Do you believe the board wanted the shares to drop before raising cash?

Do you work for analyst or broker? Only one or two slating UJO presently, and you refer to 'our' and 'we'.

To keep on slating the company, turning every positive to a negative.

However you may feel about the past, the present assets, the management etc, the fact is this little company has moved and is moving into a very comfortable position.

Whilst the share price may remain in the doldrums at present, it is not all about the share price right now for any long term investors.

With the continuing buy-backs, the shares in issue are reducing. With the dividends, shareholders are getting a little something back. The value if this company will evolve as the cash builds, assets get developed, revenues increase and it is highly likely these catalysts will occur.

I think people are too focused on the good old days when company share prices would rocket 50%/75%/100% on news, that was the excitement on AIM. It is no longer so and it is laughable now how a stock can end up lower on a day of good news. Why? In most cases everyone is scared to leave their money anywhere too long, they prefer to settle for 5 or 10% and move on. In the case of many small stocks, probably wise.

However, on the other side of the coin, there are few AIM companies on a par now with Union Jack and in my opinion a long term hold will reap rewards. This is one you can pop on a drawer and it will still be in business in a decades time.

If the CPR on Wressle is as expected, we could see an asset producing fantastic revenues for a few decades and with Egdon now under the umbrella of a major, Keddingtin and Biscathorpe (subject to planning) could well be expedited as the cash situation will now likely be stronger.

We will have to wait and see, but I am quite confident Union Jack will be way ahead of the game as this year progresses.

Take note, this deal was conceived, in my opinion, prior to the CPR.

I believe it will confirm substantial reserves and if George Yates was going to succeed with this offer, at this price, then it needed to be before the results.

We already know there has been a suggested 2.4m barrels on top of what was previously thought, everyone says this is a spectacular well, second in production only to Wytch farm. It may well be that George Yates has pulled an extremely good deal.

He is an oil man through and through https://www.dmagazine.com/publications/d-ceo/2014/october/meet-ceo-george-yates-of-heyco-energy-group/

Big mistake and likely not even possible financially.

People may not be aware, but George Yates's company already owns about 45% of Egdon so there was never really any chance of a takeover without his compliance. Added to which there are a substantial amouwnt of fracking licences also attached to them.

The cost to take out Egdon wouod be totally impractical for UJO, DB has missed no trick there.

Egdon are now part of a much bigger and finacially stable entity who have the cash to develop their long standing projects, including Wressle, Keddington, north keelsey and `biscathorpe. I think we will see an uplift in the speed of oper3ations now whilst retaining a great revenue stream and cash balance.

With EGDON RESOURCES receiving an offer of 4.5p per share. That's 0ver £700k in the kitty for Union Jack 😮

It also makes it harder to buy into the Wressle story, with onlymtwo routes in, Europa or Union Jack😀

What route would you take? The dividend payer route or the no dividend route?

Another good investment by DB 👍

Because he was referring to the expected 500 when the proppant squeeze was carried out. It's common knowledge what it is doing now. Keep trying Pboo. If all you can do is pick out a word to create some negativity you are really sadder than I thought.

Well over the expected 500 🙄

Who has actually read the Annual Report in its entirety, that the short term receivables and cash do not include the shares in treasury or the Egdon shares the company hold.

As usual, the regular negative posters here are focusing on anything they can to suggest there is something amiss. There is not.

It is also worth noting that the company does not run on fresh air, do some of you think every month the cash in hand should go up lol?

There are licence costs, operational costs, day to day running costs, the audit alone would be anywhere between £60-75,000, and the Annual Accounts presentation, printing, distribution etc etc.

However some of the trolls try to bring the com0any down, they will never win. This is a rare AIM company now. Profitable. Debt free, cash rich with assets that promise a strong future for shareholders.

Mmhater, how do you know DB is not currently looking for new assets? I cannot imagine there is much onshore worth taking a punt on. Wressle and Keddington over the coming months could see additional drilling, the revenues could easily double from here as progress is made. I would not want the company moving into international areas, well, not at present, everything is too volatile. Union Jack is in an extremely comfortable position with their cash balance and revenues, we will no doubt see more buy backs and dividends, these will enhance the SP. It's easy to keep slating progress, but not for a moment do I think it is easy to make any in terms of asset acquisitions.

As a one trick pony at all.

You could say as a licence it's just one asset, but on that asset lies many opportunities

The Ashover grit is presently free flowing approximately 750 bopd. No water, no signs of depletion. With the Peni*stone Flags and the Wingfield Flags, that increases the outlook here quite substantially. With an additional 2.4m barrels of oil estimated on the last CPR, there is tremendous scope to keep revenues rolling in for decades to come. I believe this asset is immensely underestimated and look forward to the next CPR due in June. I think we will be drilling Keddington this year in view of the Biscathorpe decision still not being released, I would imagine DB is pummelling the boardroom table on this as whilst Union Jack are not the operator on any of the Egdon JV prospects, there is a need to address the drilling campaign mentioned by Mark Abbott and get something going to bring interest back to the stock. Keddington could produce 300 bopd with a side-track, over 150 bopd to the company to add to their present 300 bopd approximately from Wressle.

Cash will be king for a number of years imo, a lot of AIM oilers are far from being in profit, there will be a number of placings, which I see as raising less and less as it gets harder to raise cash. Companies used to raising millions are now raising hundreds of thousands. Union Jack should keep building that cash pile in such times of insecurity, maintain a position that allows diversification if required. The share price will, i am quite sure, look after itself and with regular dividends and reduction of shares in issue, Union Jack will become the darling of AIM.

On the company and it's management are tiresome and looking more and more ridiculous as the revenues increase and the financial future is further secured.

After years of fundraising, waiting on planning, drilling and testing, we are now profitable and debt free. We have an exceptional asset in Wressle which on its own will increase and expand opportunities for Union Jack. It will allow future acquisitions and investments without the need for any placings, it takes the company away from the usual AIM dross.

Most of the trolls on here spending every day trashing it are neither shareholders or potential investors, they are unhinged in some way. What normal person would devote hours of their life trying to prevent other people from enjoying their investment and the opportunity to discuss it, using every post to turn any positivity negative? Pretty sad really

Mickybee, sorry, didn't realise you were policing comments.

Pboo says:

TAC

I tell FACTS not fiction like you.

I have quoted exactly what DB said on twitter.

And yes, he does run the UJO twitter account.

From Makcy's blog, as quoted by Malcy, in Italics so as not to confuse as comments from DB

Malcy

"Another excellent update from UJO who with their 40% of Wressle are reaping the reward of the good operational performance it has offered lately, financially it also has delivered some $15m of revenues which have strengthened the balance sheet, enabled all opex to be covered for at least a year ahead and of course provided the funds for dividends and buybacks.

At 24p, and a market cap of only £26m it is surely an absurd valuation given the revenues shown above and the earning potential from the substantial portfolio of assets and even more valuable to the domestic hydrocarbon market and the exchequer."

So Pboo, no, you don't post 'facts', you post misleading lies!

Another Pboo lie, DB said no such thing. And do you honestly believe he sits there all day 'tweeting' ? You really are a penny short of a pound.