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Shame on him for bringing this company into profit, when virtually all small AIM oilers in the UK are relying on placings.
Shame on him for giving dividends when virtually all small AIM oilers are giving nothing to their shareholders.
Shame on him for buying back shares whilst virtually all small AIM oilers are issuing more.
Shame on him for building a £10 million bank balance whilst virtually all small AIM oilers haven't a pot to pee in.
Shame on him for investing in an asset that produces almost a million dollars a month.

Let's bring in some younger blood immediately and remove this management failure. I am sure new blood will find something to spend all that cash on.

What is irrefutable is that DB has brought the company into profitability and removed any fear of fund raising. Wressle and Keddington still have a lot of room for substantial further production. As for bringing in a go-getter, just what do you think they could go get exactly? Maybe some investment in Europe or Asia? Africa? The world instability and the options available in this country make it almost impossible to invest in anything, anywhere. I believe you will discover Union Jack are better placed with their 'aged' board of directors than some whippersnapper who would throw cash at every piece of shi*te looking to soak up the cash.

With over £10m in cash, regular revenues and development assets to increase this substantially, there is a safety net second to none for shareholders and I am quite sure we will see regular dividends, as has been stated in a recent RNS, an ongoing reduction in shares and a recovery in the SP. The present management will oversee Union Jack for a number of years and I see no need for any change at this stage.

running it and they invested in the same opportunities, it wouldn't matter if they were in their 20's, 30's 40's etc, the reliance on operators would be the same. Anyone who is invested here is invested in two things. The skill of the management to choose the right assets and the operators to get the job done.

DB has no doubt chosen the right assets, just one of them has brought the company into profitability. There's more to come.

Progress from placings to debt free, profitable, share buybacks and dividends is something shareholders should be happy with, a younger team would be spending the cash on all sorts of shi*t and buying into risky prospects, returning the company to requiring funding. We don't thank goodness have a management team likely to risk the cash, we have a strong income and the right assets to ensure financial stability going forward.

Personally I don't really worry about 1400, 1000 or 900 etc etc. The fact is this well is producing well above original expectations, the gas is powering the site, there are no signs of water and it is still free flowing 400,000 barrels later.

It is bringing in substantial revenues, it has m9bed Union Jack from a placing reliant entity to a profitable, debt free company reducing their shares in issue and paying dividends. What a massive step forward in the past 24 months for this AIM oiler. True value will be seen as the cash continues to come in, hopefully increasing when Keddington is drilled.

Time will pay shareholders rewards, the share price will quite simply be forced to rise. Just have to sit and wait, enjoy the dividends and look at this as a real investment long term.

Haggis, I would see that as a major no-no. When lending Egdon and Europa, we secured that loan on their Wressle percentage. Absolutely risk free. What would we secure a loan to Rathlin on? They have nothing other than West Newton and imagine if they defaulted. We would have lost the loan and be left with a far greater cost to cover then for West Newton moving forward. I believe our percentage is perfect. A substantial return if it comes up trumps or a manageable cost/loss if not. I would not like to see UJO with 33%, the company imo is perfectly balanced as is in all projects. So it's a no from me to loaning these JV partners.

There's no argument, the share price is pretty sad, more-so in that when you compare Union Jack to its peers, it does without a doubt have the edge. Few AIM listed companies can boast a dividend, buy-back of shares, turn a corner to profitability, be in receipt of a substantial monthly income and have assets that offer further revenue streams as soon as the operator sets to getting them drilled.

Wressle and Keddington alone could propel the company to new heights, there is a substantial revenue stream to be extracted from these, the problem for Union Jack is the reliance on their joint venture partner Egdon to progress them.

What people fail to accept is that this company has bought into the operator of the licences. They have no control over when these assets will be monetised and no real pull when it comes to expediting the process. But this is what we have bought into. Anybody who is invested here should know that Union Jack is an investment company, they do their due diligence, they have an excellent geologist in Graham Bull to ensure the best chance of success, but that is it, from there in it is down to Egdon/Rathlin as JV partners in the respective assets.

There's no doubt that Mr.Bull has chosen very cleverly, Wressle is an amazing asset that still has a long way to go and a lot more oil and gas to extract. It is the jewel in the UJO crown and to give DB credit, taking us from a measly 8% to our now substantial 40% was a decision that is now literally paying dividends. Keddington, the company's other little monetary asset could seriously expand the cash revenues and this could well be drilled this year. I don't think we will see either Biscathorpe or West Newton commencing this year but for Union Jack this is probably not really a bad thing as the bank balance will continue to swell, more dividends paid, less shares in issue as buy-backs are continued and when West Newton and Biscathorpe are looked at in 2024, the cash in the bank will hardly be affected with the costs.

Shareholders are impatient, and fair enough, the long termers have waited far too long to see a return on their investment, but the past 18 months have been pretty miraculous in terms of moving forward and with no more placings to worry about, it is now time to look forward to a new era for the company imo. It is not the same company that has been struggling for the past decade, it is now a low risk investment.

"TAC
You actually spend more time on here than the people you are talking about.
You have averaged 83 posts per month against my 52 per month.
Your posts probably average 150 words to my 50 words. If anyone needs to get a life it is you"

But PBOO, I AM A SHAREHOLDER, I HAVE INVESTED MONEY INTO THIS COMPANY, your time really is wasted!

Wiltshireman, have to agree, there are a small number like thise mentioned that frequent a number of AIM oilers purely to disrupt, without so much as holding a single share. More sad is the people they target are all trying to make a crust. These people seem determined to stop that. Is it jealousy? Bitterness? I don't know. One thing i note is that whenever someone posts something positive, maybe an interesting link as you mention, they all appear and drown it out. Intentionally pushing it off the page. One feeds the other, like a tag team determined to ensure only negativity remains. Union jack enjoys a strong revenue, is cash rich, giving dividends, buying back shares in issue, it is all positive and very rare in this sector on AIM. Yet they spend all day trying to make the management look bad.

Banksman, it just amazes me why a few people who have no interest in this company spend so much time criticising it and trying to make any good news look bad. I mean, what possesses anyone to sit at their pc from morning to night, waiting for any positive post from a genuine shareholder in readiness to pounce on it? It suggests to me a mental condition of sorts, or perhaps loneliness where instead of making friends, they are of the irk that just annoy people for some sort of perverse enjoyment. There doesn't seem any sane, logical reason for doing this. Persimmon I believe is a pensioner, maybe he gets a hard time from the missus and get's his revenge by attacking shareholders whilst pretending it is her/him? Pboo, well, he probably has to park up his camper in between benefit payments and fills his time by posting on here, Angus and other BB's. All seems a very sad life to me, not even taking weekends to see family?

Heid is quite correct when she says you never have anything positive to say whatever the news. When the divi was announced, when the buy-backs were announced, when Wressle flowed, when the production went upmtom500 bood, when it went up to over 700, you name it, you downed it. This is people's investment, some have their savings here hoping to see some upside, yet you, Mr. 'I'm not nasty' revel in every negative comment, thumbs up every attack on the company, it's management and it's success. Someone who enjoys seeing every drop in the SP, more-so someone who doesn't even hold a single share, can hardly be seen to be a nice person. Between you, Persimmon and a few others, in all honesty you are just a bunch of trolls.

How does one flypast come to the conclusion there's less gas burning off lol?
Probably no more than 30 seconds flying over the site ajd already another negative being spouted.

More gas, less gas, who gives a flying feck when there's so much oil being free flowed into those tanks and so much cash coming from it?

Buy-backs, dividends, debt free, cash rich, no placings, some people just looking to trash it for the sake of it.

Feck me, you really are a desperate piece of work Pboo

Egdon or Europa going anywhere at the moment, so why target Union Jack? They are the biggest revenue generator of all the JV partners, they are the only one who have being reducing their shares in issue and the only one paying dividends.

The future of Union Jack seems far better than most of the AIM stocks in this sector and the substantial cash flows and cash in hand makes it safer than most. No foreseeable placings is a big winner for anyone investing in AIM, too many people on here trying to kick it in the teeth, most who aren't even shareholders, they just troll a number of stocks every day, disappearing when the SP goes up only to return when it goes down, suggesting no news is bad news lol. I think genuine shareholders know their game. Oil flows are strong, there has been no indication or suggestion the turbines are having problems.

'Rumour of cavitation affecting flows.'

Only in your head Persimmon lol

Seems you are the only person spreading it ;)

are between a rock and a hard place right now. Cash is coming in that will ensure no placings, something which for an AIM listed company is rare and makes it a lot more investable than most of its peer companies.

However, having to rely on JV operators is limiting progress.

Biscathorpe aside, Union jack are reliant on Egdon for all works at Wressle. From the turbine testing to additional drilling, it is Egdon who dictate timescales. All very well having a moan about UJO but their hands are completely tied and anyone invested here was fully aware that the company invests in assets that they have little control over the operational actions. As shareholders we simply have to wait. I feel Keddington will be the next operation to be brought into play. The planning is there, the cos should be quite high and everything is in place to pump the oil and sell it. It could mean an additional 150-300 bopd and with Union Jack's 55%, a very nice additional revenue stream. I don't see West Newton being drilled this year, I hope I am wrong but all this aggressive take over action, the financial position of Reabold until they get the Shell payment and I can't imagine Rathlin having a large pot at this stage could restrict the timescales here. There is a chance of Biscathorpe being drilled if the Inspectorate pull their finger out but that does need to be within the next month imo.

But however you perceive this company, I am extremely confident the future, as DB says, will be bright.

The cash and the awaiting assets assure investors of this, but it's not going to be a marathon to a pound. But it does have all the makings of it.

Anyoneforcricket, it's worth noting the company have only recently become profitable, they also have a number potential outlays as in Biscathorpe, West Newton, Keddington etc. I don't really concur they should start announcing a regular dividend on only one main revenue generating asset. Get Biscathorpe online or a second well at Wressle and perhaps the solidity will be there to commit. Right now I cannot see a good reason to offer such benefits on a guaranteed long term basis.

Buenos Dias, it is I, Ppoo, posting relentlessly from my Costa Del Lancashire camp site. If theres anything negative to say, I am on it, que tenga un lindo día all.

Pboo, did I miss your 'Did someone buy a load?? Price just went up' post? Oh no, of course not, my mistake, you disappear when that happens lol

Regards the ageism comment, I would much prefer to see more mature directors who not only have many years of experience but don't need the money like some of their younger counterparts. This board want to see success, no placings to pay the wages, none of them are on the upper quartile payment for those in their position in this sector and however you may cut it, they have made the right investments to get the company to a profitable, dividend paying, cash rich entity. It can only get better from here imo.

Term, the Wressle well has generated approximately 400,000 barrels of oil and to date, this has amounted to almost $15,000,000 to Union Jack as per their recent 'well in excess of $14,000,000'. Perhaps you misunderstood or intentionally try to muddy the waters, my meaning, if you read my first line it was meant to encapsulate the total barrels of oil to date and the total cash received from that. Hence nowhere did I mention 40%. I will graciously accept you were unclear on my commemt.