Member Info for TheAimCasino

Itsawrap, I wouldn't want to see Biscathorpe being run by UJO. The cost to buy out Egdon wouldn't be cheap. Ujo aren't operators. I think we would be millions out of pocket initially and imagine if it didn't come in and we were solely liable. Personally I prefer the investment angle and let others do the donkey work.

How many people on this BB seem to know how to run an oil company better than the operator or the JV partners,

Seems as though everyone knows the cost of running the numerous assets, how and when they should be drilled, that it is the company's fault for the speed of progress, what their financial position should be, whereas the fact is, nobody realises the amount of time or cost it takes for things to come together.

Wressle is a super asset, one to be proud of. It isn't going to decline anytime in the near future, the reserves dictate a decade or more at least. Union Jack pay 40% of the running costs for this. Keddington has produced for over 30 years and with the side track planned, will go on for many more. Union Jack pay for 55% of this. They also pay towards keeping West Newton inactive. They contribute to all the planning applications and appeals. It's not cheap but they are debt free, profitable and making money and few can say that.

The operator, Egdon, may well be a JV partner, but they are not tied into any contract stating they have to put their JV partners before themselves, they obviously have their own stuff to concentrate on too.

Union Jack invest in other people's assets and even with a large percentage, I doubt they have the pull to make the operator move quicker on their joint ventures.

Moan at Egdon, moan at Reabold and Rathlin, but moaning at Union Jack is out of order on the basis of their achievements over the past two years.

Some people on here are becoming a bigger joke than Winnifroth with their ridiculous negative stance on Union Jack. Every RNS is picked to pieces, always in a negative way, regardless of the positivity enclosed.

It's relentless and regardless of the fact the past 18 months has turned the company into a profitable, debt free entity, with strong revenues and a substantial cash balance at bank.

Sadly, these people are not even shareholders and seem to must possess a vindictive attitude to the management regardless of progress.

Tom Winnifroth has a similar problem. He refuses to see any future here. But focuses solely on DB, constantly attacking him at every opportunity. This bb is full of little tommies😂

Ah, the usual Pboo negativity lol. Let me answer that for you, a company has costs, or did you think it runs on thin air?

Due Monday will show Union Jack in profit, for an onshore oil AIM company this is an impressive achievement, set to get better and more profitable by the day. Wressle is no doubt the exception when it comes to oil flow and capacity, almost 500,000 barrels free flowed since it was brought into production. When the next cpr comes out, expect an even greater oil in place estimate. If they drill Keddington this year, we could see a further 150 bopd to Union Jack. The future is looking bright as DB rightly says.

Good guess Heid, expected before annual results so today or tomorrow 😂. Well done to Union Jack, this shows all those saying decline in production not the case. Brilliant news for shareholders, cash still coming in, cant wait to see results on Monday.

Mr. plumper, thank you, but Imdo actually have a job too, I invest for the longer term, I don't get stressed with the daily, weekly, monthly share price movements, my vision is always in the future and for me, I have 15- 20 years to worry about value. Should/when Union Jack breaches a pound, then half will be sold, the remainder left invested for the real long term or until God forbid something went wrong. All stocks come attached with risk, I have in the past had some miraculous returns along with some miraculous losses lol, but my retirement is in hand. This is a bit of fun but I do believe in DB to take this from where we are today to a pound plus if he continues to follow the present course. I have no interest in the past, Union Jack is a totally different company imo and I do believe it will succeed.

What don't you understand about a long term investment Micky? Few companies on AIM ever make it, I personally believe Union jack will and I simply don't whinge every day if the SP drops as I am not looking to sell in the near term. The long term here, imo we will see upwards of a pound, not next week, not this year, but if the company continues bringing in the cash as it does and brings a few additional zones into play at Wressle along with a successful side track at Keddington, not even taking the potential at Biscathorpe into account if the appeal is successful Union Jack will hit the highs. For me, if this takes a few years, then so be it. All the moaners here cannot see how big a corner has been turned here in the past year, too busy focusing on the previous history. There are few companies on AIM with the potential to multi-bag from this level and multi-bag it will in my opinion. To keep on moaning about leaked placings, when the likelihood of any future fund raises are virtually nil is pointless. Things have moved on now and all I am interested in is the company as it is today, not two years ago. Wressle is and will most likely be a bigger cash cow, we have a great percentage of it as we do Keddington when this is side tracked. Revenue potential will be extremely high as these assets are developed and my investment here will be substantially higher. One of the few stocks I least worry about.

Always someone waiting for a bit of positivity eh Micky? I don't give a hoot about todays sp, I am not trading it, I am looking at the future here, one of the few AIM companies actually offering one. Most of the twerps on here appear on any drop and disappear on any rise, using 'rumours' to add negativity. Unlike some who ramp when they buy then deramp when they sell, I have always maintained a positive stance because I am confident my investment will pay off. No point in buying and moaning incessantly when it is quite clear that everything is being done to make the company come good. So yes, I do believe in what I post. And I have only ever been me on here since the day I registered and bought into UJO, I can say all I need without multiple aliases.

At all the ridiculous comment on here some times.

The royalties were sold and the company made a profit, an above average return and this would also have included the accrued amount over the time they were owned by the company. The nomad would have scrutinised the RNS, the comoany were only restricted on stating the amount due to the conditions set by the purchaser. The actual amount will have to be in the interim figures as it is post yearly accounts ending 2022. Until then, all the accusations mean nothing. Some people will be eating humble pie I am sure.

Regards Wressle, this is an exceptional asset that is looking better and better for the long term. All of last weeks cr*ap about 'cavitation' and the production declining is exactly that. Even Ruth Hayhurst cant work out there are 3 days less in February.

The same people day after day coming up with anything they can to sound negative. The shame for them is it is getting harder and harder to keep it up without sounding ridiculous.

Cavitation: need a pump running for that one. Wressle is free flowing and heading towards 500,000 barrels in the next few months.

Declining flow-rate: No, flow rates continue at the excellent rate they have ever since the proppant squeeze.

This is going to be a better than expected set of results on the 15th, profitable, debt free and cash rich.

Sooner or later the market will re-evaluate UNION JACK OIL, the cash is almost equal to the half of the market cap, that cannot continue.

Does it matter if it made an above average return? UJO is an investment company. It made an investment and made a profit. With the windfall tax and insecurity of north sea assets, prob a good time to take the cash and move on. From what I remember, everyone was objecting to buying them, one bloke on the Adv fn bb even started a shareholder action group over the purchase. Glad to be rid of them.

response that the gas to oil ratio is a major factor here. The more oil they flow, the more gas they produce, meaning that if they screwed the flow to 1200 bopd, they wouldn't have a home for all the additional gas and would exceed the flare rate. The turbines are powering the site, that is likely to be utilising a very small amount of gas. Even if they took the flow to 800. We would likely be at maximum gas. I don't think for a moment there is a decline, this well is quite exceptional and apart from Persimmon and his negative non-shareholder chums, nobody else is suggesting as such. We are very likely to see a major uplift in reserves with the new Cpr and multiple zones for the ongoing production of both oil and gas.

The JV partners are all confident in the future here, so am I.

You are 100% correct Persimmon, why on earth would the the FCA Be interested in a dickwad like you lol. They would be more likely to investigate reports of Heid defaming DB lol

What say you about your 'cavitation' rumour? You know, the one where you suggested a free flowing well was having pump problems lol? Funstar, you are commenting as if there IS a decline.

Note Egdon's year end results to 31st January, Post-Period end production and revenues have continued to be strong, despite reduced commodity prices, with February and March unaudited revenues of £0.632 million and £0.521 million respectively.

Does this suggest a decline? No it does not.

No 'cavitation' issues or decline as suggested, sorry 'rumoured' by Persimmon. So let's not turn Persimmon's rumourmonto a bank holiday fact.

The word on the street, in my street, is that strong flow rates continue to expand the excellent revenues with the $15m dollar announcement fast approaching.

A rumour has to have a starting point Persimmon and both of yours started with you. It's total tripe as you well know. Only an idiot would continue to spread an untruth and you with your 'cavitation' rumour is a laugh. Why continue with something so inaccurate? Oh yes. You like to be constantly negative on UJO I forgot. What will you say when the $15m is announced? The 'cavitation issue' has obviously been resolved? You are a right old twit lol.

Is this the same 'word' as your cavitation rumour Persimmon lol?

persimmon
Posted in: UJO
Posts: 6,807
Price: 24.60
No Opinion
RE: What's going on here?11 Apr 2023 18:26
Rumour of cavitation affecting flows.

Of course, perhaps you didn't realise cavitation only occurs when there is excessive suction on the oil in excess of 4 mmHg. Wressle being free flowing would not experience this.

Where on earth are you getting your rumours from?

6th Feb the $13m was announced, followed by the $14m on the 27th March. There was a 6 week gap between announcements.

If we see the $15m in the next week or so, this will show the flow performance especially as oil prices have been somewhat variable throughout April.

Personally I think the well is performing to expectations, it is just being played about with whilst they finalise the extended turbine testing.

Herbert, there lies a problem or two with your thoughts on a merger with Egdon. Firstly, they have a load of fracking licences which are not going to be easy to dispose of, even if at all possible, there also remains an issue with their major shareholder, George Yates. He owns almost 50% of the company I believe. It would be nice for Egdon to end up with an extra £10m from Union jack as they actually made a loss last year. I am sure everyone would like a share of that cash and the assets but no way, imo, would DB entertain any merger, especially as it would be a paper deal. Shareholders here would end up with a far worse deal and future. Egdon intend drilling Waddocks Cross, it is 90% water, when they could be drilling Keddington, I do wonder at their operational decisions sometimes as to me, any company with revenue bearing assets that can continue to be developed should be concentrating on those. Cash is king right now, nobody knows where the government will go with oil and gas, building the biggest safety net possible is the way forward and that is exactly what DB is doing with UNION JACK. As shareholders, his age and wisdom is worth far more than replacing him with someone younger who would no doubt look to start spending the cash. For me, that cash is for buy backs, dividends and expanding our present revenue generating assets.

"he’s done a half decent job to get here" so now get rid of him? Yep, makes perfect sense, bring in someone like Will Holland maybe from Eog who blew all their cash on a duster, or maybe someone who could find a load of shi*t somewhere else to blow our cash on? DB, like it or not, has brought the company to profitability and won't be burning the bank balance. He will oversee dividends and wise spending, no need to take silly risks.

How about give him a chance, he's already done two dividends and said more to come. Seems to me you lot just like to whinge and complain about everything. The company's on track for great things, the moment they became profitable.