Member Info for TheAimCasino

the Wressle well provide approximately $32, 000,000 in revenues to the JV partnership with Union jack taking almost $15,000,000 of that. With no sign of any water cut, it's certainly an incredible onshore well. With so many more productive zones to target, the future really is bright.

Traders or not, the company cannot keep increasing revenues and cash in the bank, reducing the shares in issue and paying dividends and not see the share price re-rate. Logic dictates we will see a nice little move up over the following months even without any progress on the assets. If we get Biscathorpe approval there will be an uplift, or if Keddington starts. I am not concerned over the time it takes to get West Newton started as the longer it takes, the more the bank balance will increase, covering other asset costs that will provide additional revenue along with another dividend this year. Union Jack is not a bad place to be invested in compared to much of the AIM dross, no fear of borrowing is a big thing and one that makes the company a pretty safe bet. Those that keep being negative on it are running out of steam as there isn't much to be negative about.

Of course you are trolling the company, you post almost every day, negatively, on a company you hold no financial interest in. Every RNS is met with a downbeat comment, every positive post responded to with negativity. That IS part of trolling.

Most people troll others for either revenge, for attention seeking, for boredom and/or simply for personal amusement. For some, they could be hitting out at people who are successful, happy, and enjoying their life because maybe the troll's life isn't like that. Which are you?

Every shareholder in Union Jack wants to see a return on their investment. The past 18 months has been pretty transformational in the way the company has moved from an entity that had to keep raising cash to survive to one that is now debt free, cash rich, is buying back it;s own shares and paying dividends. This pretty unique for a company like Union Jack. With most investors on AIM fearing placings, there is little or no risk of that for shareholders here now which makes it very investable moving forward. You simply dwell on whatever it is causing you to have issues with this company and it really isn't healthy. Did you really go to Spain for 8 weeks and still take time out to post here incessantly?

Think Malcy is saying in general terms getting buy backs and dividends, not "had" dividends. He must expect to see more in the future and refers to that.

Decommissioning? Thats a real laugh. Installing turbines in readiness for that are they lol?

It's not been two months and it has been made very clear the revenues are well in excess of 14m. Hence the delay in reporting it is nothing to do with less revenue in the given time.

Milnrow, personally I think maybe now would be a good time to extend the announcement to quarterly. It's very clear the well is free flowing at a more than adequate rate, between us, Egdon and EOG's updates this is regularly confirmed. The whole thing is voluntary and was a great way for the company to show some visibility on revenues. Ay £10.5 million cash in the bank I think it would be safe to say there are no worries here and maybe jump to a every 3 million dollars announcement.

Perenco said it was "under control".
The company said a small amount of reservoir fluid - made up of 85% water and 15% oil - escaped from the pipeline.

Looks like this RNS is upsetting a few this morning lol, "well in excess of $14,000,000". This is pretty amazing for an onshore oiler and proves without doubt how extraordinary this asset is performing. Heading for two years of non stop, free flowing oil production with gas now powering the site and working towards monetising that too. Debt free with over £10,000,000 in the bank? Way undervalued and those trying to be negative this morning know it.

It's quite obvious by their emphasis of 'well in excess of 14m' that the announcement was delayed for some reason. The company is still quite obviously turning the cash and the well is still free flowing the oil. Nothing wrong here whatsoever,

It's an oil leak in Dorset? Sounds like cracked pipeline near exot point. However, it has been contained and the leak blocked. Think it will be cleaned up very successfully and quite quickly. Wytch Farm has been operating for 44 years without any major issues. It also has little to do with onshore oil like Wressle or any other inland sites.

I look forward to the $14m RNS just to see Pboo not mentioning it.

The share price is looking ridiculously cheap now, we must have well over £10,000,000 in cash, heading towards 3m shares in treasury and with the announcement that the government are looking to re-address the windfall tax, this week should see a bit of a turn around in the oil sector. There is a worldwide concern that getting rid of fossil fuels won't be possible, Shell CEO reckons 100 years. Germany refusing to abide by ending petrol/diesel cars by 2035, sentiment is swinging back to oil. Add in the 6000+ items derived from oil, whoever really thinks we can survive without it?

Milnrow, as with any company, one has to have an element of trust in the directors. It's not easy on AIM to exercise that trust as there is always something around the corner waiting to bite investors on the ar*se.

However, in terms of the treasury shares, I take a little comfort in the fact all of Union Jacks directors are in their 70's and in no need of super bonus's, David Bramhill's target is to see the company at mid tier status and I feel the treasury shares will be utilised, if not cancelled at some stage, for a far more beneficial purpose than lining the management pockets. We need institutional recognition, there could be an asset opportunity in the future maybe. Out of the many AIM listed oilers out there, I believe we are one of the best positioned for shareholders to do well moving forward,

Thats so funny lol

Pboo, sorry to post so early and set all your UJO Post alarm's off, I should have been a little more thoughtful.

Regards your comment, in view of all the shares bought back this week, it would be reasonable to believe these were a continuation of the company purchases. It may prove to be the case, although I do think, as stated, it is a little above what I would expect of the brokers ability to buy at a prudent price. As far as an institution goes, I don't think they would be paying that either. It's more likely news is due next week and someone is taking a decent punt. We are due the $14m and no doubt if anything else, someone expects more.

Here's the link to the treasury shares again in case it gets lost https://www.investopedia.com/ask/answers/what-is-treasury-stock/

Don't think that 250,000 was a buy back, price paid was way to high, the brokers would have got them at nearer mid price as in all previous amounts.

As regards treasury stock, here is an interesting little read for anyone who doesn't understand the positives and negatives-

https://www.investopedia.com/ask/answers/what-is-treasury-stock/

In Union Jack's case, in the long term, I think holding them in treasury is the better decision.

You really are becoming a Desperate Dan character Pboo. You know where UJO is going and it ain't to the dogs.

Get your camper outside the gates of Wressle and assemble your Abacus. No water tankers to see, just oil.

Independent pressure test analysis Pboo. Not me, not Heid. Not a ramp. A FACT, you know, something you are always harping on about, FACT.

From the 26th APRIL RNS Pboo

'Independent pressure test analysis has indicated potential flow rates for Wressle-1 of between approximately 1,200 to 1,500 bopd"

So what say you now?

I think there's a reason for withholding the $14m announcement. If you go by the various confirmations of all ok, it would seem to have surpassed that amount. The announcement is a voluntary statement, not mandatory so maybe we will get a 14.2m instead :o)