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Info on Cap Reduction Tuesday Gwynwin ;0)

Can't expect the bank balance to increase by the revenue income every month. I daresay now and then they have to pay the operator costs for Wressle, Keddington and Fiskerton along with share of West Newton costs, other interests, court costs, appeal costs, running the company etc etc. it is still a progressive balance month on month and the company is set to declare a maiden profit, rare for an AIM oiler lol! In these times. Having almost £10,000,000 in the bank, increasing month on month and some tasty looking assets already lined up, Union Jack has turned a corner and is on a straight run at last!

Court result due Tuesday, probably why cash result put out early not to conflict?

Not forgetting, the gas revenues will add to that and when the gas is being used, the oil flow can be increased. Double whammy for revenues!

"UJO can't just stand on 1 or 2 good assets (Wressle being 1) (Others unproven yet or quite small)"

I think maybe you are under-rating UJO's assets, I don't think DB will be looking to increase on what the company presently have.

Wressle is not a one trick pony, there are a number of other zones to target in what is looking like a substantial oil play. Keddington is awaiting a side track that could also potentially be suitable for a proppant squeeze the same as Wressle. Then there awaits North Kelsey and Biscathorpe. Both again, potentially exciting oil sites. West Newton, this is going to be a huge gas discovery, we are awaiting to see the results of the CPR of what is already described as the biggest discovery in half a century. Enough there to keep the company busy for a number of years and personally I would like to think they will manage the finances to cover all the costs of these and maintain their 'going concern' status comfortably on the revenues presently coming in. Wressle will, as soon as the gas is sorted, likely run to a comfortable 1000/1200 bopd, (400/480 to UJO) well over $17,000,000 per annum with the oil and then you can add in the gas sales too. Keddington could be another decent producer, potentially 300 bopd with a side track and more with a proppant squeeze. It's basically looking extremely exciting for the next 12 months without any other operational additions to the portfolio ;0)

If perhaps a couple of million shares were bought back and an institution took a few, trading would be very hard to do moving forward. Sticky hands, limited shares in issue, strong cash flows, throw in a new, producing asset and talk of a pound would be be more than accessible. AIM love sentiment and news, and there is a lot of that coming next month imo.

I think a payment if a divi will be the catalyst to attract institutional interest and that in itself will give a far greater exposure to the market. Long term shareholders have been underwater for a number of years, so a little cash reward will be appreciated along with a new found strength in the share price. I think we will hit 33/34p tomorrow, the outcome of the court decision on the Capital Reduction means people will want to be on board by the end if the day.

a share buy back AND a dividend. Reduce the shares in issue, pay a small dividend, SP will rise too, all round winner for shareholders. Potential attraction to institutional investor/s too.

Cannot see the divi being much more than 2.5/3%, it's not about giving away all the cash in the bank. We have West Newton costs, Wressle upgrade and potentially another stab at a different zone, Biscathorpe, North Kelsey, running costs and enough in reserves to ensure a 'going concern' status in the auditors statement. The next few months will be instrumental in taking the SP to new levels and careful expenditure and increased revenues will ensure this happens.

Pboo, the Tanker driver lol? The tanker driver doesn't do the connection and return of the oil outlet, he drives the tanker!

announcement imminent, updated bank balance, confirmation zero water cut and result of court decision on Capital Reduction all within the next 7 days to see August out! Wressle is simply a real gem and exceeding expectations on production and longevity. Can't wait to see the reserves report, I believe it will blow people out of the water, Gaffney Cline aren't ones for exaggerating the figures, if they come back with some stunning numbers, they will be the worse case scenario. September likely to be a news rich month and one that the company share price will likely multiply from here. Not saying a pound but I do think a 3 bag from here. Oil back in the $100's, lots of strong sentiment in the sector, it's AIM, it will breach 70p next month imo. Interims also due and they will be showing a maiden profit too. No worries for me.

My comment wasn't to suggest they would be producing 2000 bopd, more to question Pboo on why he believes they have insufficient storage to do so, when they certainly have the capacity for 2000 bopd.

Pboo I believe there is 2000 barrels of storage capacity at Wressle, so why could they not maximise production to that level?

Imo will see the beginning of a substantial re-rate, beginning with confirmation of the courts decision to grant the company the right to proceed with the capital reduction.

Have a feeling we may see the reserves report and the cpr for Wressle and West Newton during the month too and we should get a great interim report with profitability now declared.

Will we see Heid's pound? Maybe, maybe not but I would expect to see 60/70p and that is highly likely from this level. Exciting month looming :)

I am referring to "UKOG" lol

Gwynwin, I don't think UKOG will be contributing anything lol ;)

Hell will freeze over before RNSTranslator gives up bashing this stock and anyone who tries to be positive lol Company has turned a big corner, forgiveness approaching for the long and bumpy ride.

Trust you to add a negative into the positive RnsTranslator.

$9,000,000 and $10,000,000 net revenues announcements
Cash at bank £10,000,000+
Dividend and Share Buy Back confirmed/actioned
Substantially upgraded reserves report from Gaffney on Wressle
CPR and operations update on West Newton
Interim Report
Biscathorpe and North Kelsey likely positive outcomes.

These are without any unexpected announcements from Union Jack or JV partners that news could also benefit.

Exciting times ahead for shareholders!

Pboo, did you not read the headline tweet on their Twitter account?

"This new Twitter account is for shareholders and investors alike to pass comment and opinion. We will endeavour to keep it as active as possible. When news comes out, it will be repeated here to a wider audience. Please do not treat it as a platform for abuse. Thank you all!"

Now why would they be happy to have you, a long term supporter of UKOG but basher of Union Jack and David Bramhill access to post your tripe on there and disrupt it for genuine shareholders? From what I have seen on there, it is polite in the main, informative, followed by a large number of other oil/miners etc. People need somewhere they can avoid people like you, Pete Hamilton, Shi*ttybangbang etc.

have taken far longer to produce this report that was expected. It has been expanded to a reserves report now which involves far more data in order for it to accurately (as far as accurate can be) predict the longevity and production figures. This well has been throwing up surprises, it has been in test mode all this time. It has flowed far higher rates than are used to generate the regular revenues. It is offering up to 1500bopd potential. My belief the data has been changing throughout and this has required Gaffney to spend far more time than was expected to put together what I personally believe will be a stunning outcome for the partners and for shareholders. There's no doubt a lot more to come from Wressle, if it keeps on free flowing a million bucks into the Union Jack bank account for years to come, investors can rest certain there will never be any further dilution.