Member Info for TheAimCasino

Day after day about the board, the assets, the future etc, why not just sell out if there is no confidence in them? It's not really difficult. If you are at a loss and believe the SP will go nowhere, the sensible move would be to take that loss and recoup it elsewhere. There are very few companies out there that are profitable and debt free who are paying dividends so choosing an alternative investment wouldn't be easy. From what I have gleaned from the AGM is that a number of major shareholders understood and supported the board with their plans for the future and presented no concerns with them. The 'round of applause' was given in recognition of the presentation by DB, Zac Philips, Craig Howie, Graham Bull and Miles Newman. All attending agreed that the strategic move into the US would offset the issues with the UK assets and what was likely to come with the election of a Labour government. None present suggested they would be looking to reduce or sell any shares and in all honesty, I also believe this will come good. However, if YOU don't, then sell and move on.

Canchat. You are right. For as much as I may try to defend my investment, fighting against people who trash their own family’s shareholding and others who are not even invested but feel the need to try and damage sentiment does seem to be pointless really. I think I may take a back seat for a while and let them all wallow in the poop they deserve to be in.

If you say so Pboo. Maybe you should have attended the AGM as the opinion there seems to be the total opposite to your views. In truth I would prefer to rely on their take on things rather than yours. When shareholders with millions of shares support the board and the future here, in reality, your opinions are next to worthless really. As are Heids.

And if you think that Pboo, you too are clueless. Nothing positive lol? 🙄

"people who take part in my polls as it is the only voice some of us have"

You really are clueless 😂

It's probably not really worth it's weight in manure!

You have Pboo who is here to find anything he can to post his negative stance. Every RNS scanned for anything he can find to start the day off negatively. You have Heid who just trashes it all day long, repeating the same rubbish over and over again, creating silly polls that mean absolutely nothing to anyone. You have a few that contribute absolutely nothing but tripe, "Bramhill Out" as an example. In between, you have a few trying to be positive who immediately get attacked and drowned out. When you read the complaints, you realise some people really shouldn't be investing in AIM stocks. They obviously do not understand the risk nor the fact the news they demand can't just be whipped up to support the share price. Union Jack is in a far better place than probably all of its peers. It has paid dividends, it has reduced the shares in issue. It is profitable, debt free and moving into another country, a safe country in an effort to get away from what is happening in the UK, which ultimately would give the moaners a lot more to complain about had the management sat back and relied on the assets here. In my view and probably also the vast majority of shareholders that aren't on here whining, every move is being made to bring value here, something that isn't going to happen overnight or by making noise here.

OK Heid👍

Does nobody consider Wressle occasionally may need to be shut off for a few days maintenance? It can’t just keep on pumping relentlessly. Regards Keddington it is actually shut in for some major upgrades which was mentioned at the AGM I believe.

Thanks Funstar but unless DB was posting on here throughout the AGM, as I was. you are probably better suggesting I am Miss. Christine?

Just for YOUR information HEID, I couldn't give a monkeys what you think because you are on a completely different planet to most people. Your polls have no grounds for anyone to think they mean anything when anyone could click on them whether they are shareholders or not. The images you create of the board are in my opinion illegal and harassing, you are probably lucky that nobody on the company's board or the people who are not that you deride haven't sued the pants off you. The FACT is that every resolution was passed at the AGM, actual shareholders supported every move the company has made and whilst you whinge every day about salaries and dividends, this management continue on the path they decide, not the path you, a nobody, demands.

I agree Mickey, a terrible waste of what could have been excellent assets for UJO, but I feel certain as things stand, moving away from them, mothballing them whatever, is the wisest move for the company. Whilst we may still be awaiting flow test results from the Andrews, the fact up to 100 bopd were recorded whilst testing and the next well is due to be spudded very soon suggests everything is OK and that will do for me, for now. Apparently the presentation by Mikes Newman at the AGM was a real confidence booster and I believe the company has made the right decision on this. We will soon know I guess.

"Why would you be getting phone calls or as I suspected you are close to the company"

Firstly, I made the call as this shareholder was happy to discuss the AGM with me. Secondly, when you professed you knew so much and you had a special relationship with DB I never accused you of being close to the company even though you constantly presented yourself as being such. I have never in all the time I have been invested here contacted DB or any other member of the board or even suggested as much. Unlike you who loved so much to tell everyone how you sent presents and had gifts, again. i have no interest in that sort of thing. What I do have an interest in is defending my investment and my belief in this management to increase its value. Whilst it may certainly be down now, I am bot naive enough to ignore the situation globally or in the UK to blame management salaries as being the cause of it, or lower than demanded dividends when virtually none pay them anyway. Thank you.

Mickey, I do believe Union Jack's assets in the UK will fail to realise any value to the company in the near term and possibly for the long term, presuming Labour get in. Why would Union Jack sit around waiting for Biscathorpe, West Newton or any other asset they are involved in knowing this? Why spend millions drilling wells that would likely be financially unviable to take to production when the profits would be so low? I am in favour of spending that money and every penny from Wressle on drilling more wells in the US where the tax rate is substantially lower, the chance of success higher and the cost of each well a 5th of the cost in the UK with no planning issues, no activist challenges and equipment readily available on demand. It's a no brainer for me and again, from what I have been told by one who attended the AGM, this was also discussed and all agreed.

Heid. You are blinkered and conversing with you when you have an un-negotiable opinion is impossible. The major shareholders who attended the AGM are hardly 'converted'. They are the investors who have invested 100' of 1000's of pounds, are down on that investment far more than you even have invested or your family I am quite sure, yet they can see not only the situation that is evolving in this country but the strategic move away from the UK was not only an excellent decision by the board but one that will protect and secure their investment for the longer term. You are only focused on dividends and salaries. From what I am informed, not ONE person, and bearing in mind these are million+ shares shareholders, were concerned about either of the subjects you incessantly repeat on here. It is though you have absolutely no understanding of the challenges that are being met not just by Union Jack but every other company in the oil sector and that somebody's salary is the cause of the company's share decline 🙄. It is not a FACT that Kamran Sattar would have drilled West Newton, that is your view. My view is he would have paid a substantial dividend to recoup his and his clients losses and he and his fellow directors would have invested the remainder in some projects of their own closer to home. You have no understanding whatsoever of the operational requirements to drill West Newton, it is only now the extension has been granted so he certainly wouldn't have been drilling yet. The future onshore oil projects in the UK are unlikely to be realised if Labour get in, under the Tories these projects were only just feasible. Like it or not, DB has made the correct decision to power ahead in the US and like it or not, your constant complaints will remain ignored.

Heid, with the election looming & with Labour stating they are going to feck the UK oil industry even more, I would be highly surprised if there were many investors looking to risk their money in this sector presently. In relation to most, Union Jack has ensured it's continuation as an investable UK company by diversifying into the states but will be hampered by its UK assets until we get some clarity on the repercussions of the Finch case and the EPL. However you may like to interpret things, had not DB made this strategic decision to move into the US, it would be highly likely the company would make a loss in 2024 as in my opinion, having just Wressle would not be enough to sustain all the licences and allow further development in the UK. I have spoken to the chap who sent me the summary of the AGM this morning on the telephone and he was quite adamant that board has made some good decisions on behalf of the company and its shareholders and everyone in that room on Thursday showed their confidence in the management going forward. With a 100% show of hands agreeing every resolution, a lot of 'hear hear' comments as the board explained their reasoning for those decisions and some excellent questions with excellent explanations, there was no dissension whatsoever from any of those attending. So whilst you may have your issues with the company and those who run it, it was apparently not reflected within the major shareholders opinions. In fact, none of them who were there bother looking at the bulletin boards, preferring to allow the company to do what it must.

So with that, my opinion would be to allow the company to progress the US stuff unhindered, do what they have to with the UK assets and realise that it is the government and the activists that are causing the issues here, not a failure by Union Jack. What the powers that be have done or about to do has pretty much scuppered Biscathorpe and West Newton. When/if labour gets in, what oil/gas company will make a profit with 78% of it being stripped from them? On that basis, what oil/gas company would bother exploring or developing their assets? The answer is none and where does that leave Union Jack?

OK Heid 👍

Heid, whether one or even two shareholders may support your views is irrelevant in reality. There were a number of major shareholders at the AGM who wholeheartedly supported the board in their endeavours to achieve the best outcome for the company and supported their present actions. I have had it confirmed that not one person present made any inference as to the boards salaries or the back payment to cover the lack of pension payments, health are and other benefits usually afforded management. The dividend of .25 was more than adequately explained and agreed with as was the lack of buy backs. There was a resounding round of applause, all resolutions were passed by a 100% show of hands for each. You may have your issues, but believe me from what I have gleaned you are way in the minority and your views are not shared by the people with the big money invested in Union Jack. With regards to you having money to invest here, DON'T! Only invest where you have confidence in the management, which you obviously don't. With what is expected to materialise over the coming months, I see no reason why value will not be realised, but as was stated, the future of the UK is unknown and that is absolutely no fault of the board of Union Jack. I do wish somebody who attended could post here to validate what I have passed on.

Ffs Heid, give it a rest. You’ve said your piece over and over again, hour after hour, day after day. People get your point. Stop drowning out every bit of positivity. You want people to start buying in? You want to see the SP up? Then allow people to read the good bits. Salaries aren’t going to change. The dividends will be decided by the board l, not you, as will any buy backs. The AGM was extremely positive by the looks of things, let’s see where things go.

Nice additional presentation to the Final Results on the website. 😀

Pboo, I actually appreciate your apology because in fairness, you attitude towards this company and DB seems to me to be unfair and questionable as to your agenda/intentions. You may have personal issues here but feedback I am hearing from the AGM alludes to a strong confidence in the management and the future of the company. With the projected revenues from the Peni5tonre Flags of £2,000,000 per month, an average of $50,000 per month from the royalties, production from Wressle averaging I think about 500 bopd (200 a day to Union Jack) and the production from the Andrews well plus potentially two more this year, everything is looking extremely positive for a company who's peers are unlikely to even survive in this climate. One has to recognise this as an achievement in my view and there seem little worries about the company getting into any trouble short or long term. It's a little sad you cannot so much as make a positive comment occasionally.