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Pboo, no comment?

"In January it was announced the total cash consideration for the Royalties was US$854,070 (£677,235), your £133,000 was for the next purchase declared on the 12th March. So perhaps you need to revisit your Sinclair calculator?"

You got your figures wrong and now trying something else to cover this up?

Did not DB say at some point previously they had already received a 10% return in the first 6 weeks which equated to approx 60,000? On that basis, average of 50k already in the public domain Pboo. Why try yet again, as a non shareholder to cause issues and trouble for this company, a company you have no interest in other than to cause trouble.

,you yet again mislead shareholders with your calculations.

In January it was announced the total cash consideration for the Royalties was US$854,070 (£677,235), your £133,000 was for the next purchase declared on the 12th March. So perhaps you need to revisit your Sinclair calculator?

Confirmed by the board at the AGM, confirmed by an attendee at the AGM, confirmed by Jimmcdee yet Pboo knows better and he was not present? I wonder why he disbelieves this? 😂

Pboo, in YOUR dreams by the sounds of it!

Jimmcdee, there's no doubt it was stated as averaging 50,000 per month. You're ascertation only goes to confirm this. Pboo is completely wrong and the Mineral Royalties will be an exciting part of the revenue growth imo.

Pboo, he just confirmed it was monthly. He was there, you were not. Instead of pbooing it, why not investigate this information yourself instead of suggesting the board were lying?

Hi ****

To actually hear from the board face to face made all the difference and I and the other attendees could see just how things in the UK were being hampered by the actions of government/councils/activist challenges etc. How the company needed to take all these issues into account when planning future operations, retaining licences, timescales as to whether drilling more wells in the US would be better than awaiting years and spending more on higher risk, high cost assets in the UK.

The challenges met and resolved are a testament to the commitment and experience of the board who are all focused on developing the company to ensure value is returned to investors. It was very clear to understand and all of the major shareholders I spoke to were agreed on one thing, they were all staying in. The big piece of information was the incredible return estimated from the Peni5stone Flags of £2,000,000 per month. Pounds not dollars. It was also stated that there were still untapped zones and that the belief was strengthening in the size of this asset and the oil and gas still to be accessed.

Personally I would ignore all the noise and trust in the board. They have and are achieving and there were no concerns from anyone in that room for the future.

I can also confirm for you that the $50,000 average from the mineral royalties was monthly. This was another point that was met with some surprise but was also reconfirmed at the time.

Hope this helps and if I do recall anything further I will let you know.

Pboo, this was a direct communication from am attendee, not a telegraph group.

In that case Heid. Please apologise for suggesting the flow rates equated to 20 bopd so people are aware it wad an error on your part.

Whether there was a potential mis-heard comment, what matters is that as usual the comment was twisted to suggest the oil production was 20 bopd which is clearly untrue. It was clearly stated the flow rates could not be released yet and the reason as to why. To suggest the 50k was from the oil was clearly incorrect and designed to yet again cause discontent.

Pboo, I am simply reposting what I was sent for information purposes. I have just conformed it was what he bekieved was said but could be 50,000 to date, which equates to nearer 8,000 per month, and this is expected to increase as the mineral rights experience more development by the companies concerned. Internal Rate of Return in excess of 20%.. The chap will try and confirm.

'on the MINERAL RIGHTS, yes, THE MINERAL RIGHTS, he just confirmed the potential of the returns and explained the opportunities in the permian basin and how much oil was left there, hence some companies union jack holds rights in are still planning on multi-well activities. it was also mentioned approximate revenues to date were just over $50,000 per month'

The section referring to MINERAL RIGHTS! It was quite clearly conformed the oil flow rates were pending continuing upgrades and testing, so quite clearly no revenues yet declared.

Pboo, read my response to Heid, it is quite clear to most with a brain that the 50,000 was revenue from the Mineral Royalties not the oil. Unfortunately both you and Heid choose to twist it to suit your perpetual negativity. Another incorrect statement from you.

Heid, please re-read that commentary. The 50,000 was referring to the Mineral Rights, not the oil production which it was quite clearly stated ‘ for the flow rates, until they get the gas piped in, which is seemingly quite active, they can't stabilise the oil” there was no suggestion anywhere that they were disappointed in this first well’ so not 20 BOPD as you intimate.

the 2024 agm recap part 1

hi ****

yes, i did attend the agm and felt most assured that everything being actioned at present is in the best interest of shareholders. some interesting titbits regarding the *****tone flags gas prospect which is expected to return £2,000,000 net to union jack per month. this is expected to be concluded during 2025. this information was met with some exclamations of surprise and a request for that to be repeated. it was subsequently reaffirmed. wressle is the darling of the uk assets and expectations are high for the future. there was a noted air of despondency on west newton and biscathorpe due to the uncertainty of the energy profit levy with a labour government which would have an even more detrimental effect on the cost of the drilling, development and production, added to the potential 'down stream' requirements from the ruling in the finch case. my opinion was that the board could potentially mothball biscathorpe.

keddington is apparently undergoing some major upgrades and is presently shut in. chatting with other attendees i got the feeling the company would prefer to spend$3,000,000 on 6-8 wells in the usa than west newton, although not many questions were asked on the outlook for this asset. those i spoke with later felt this was more about reabold and rathlin dragging their feet a bit and it felt as though there was a sense of frustration on this.

we had a very interesting 30 minutes with miles newman who explained in depth the ease of obtaining land to drill, the seismic which they did themselves as they had all their own equipment and how mineral rights were dealt with. quite interestingly, you can literally drill wherever you like in oklahoma even if the farmer doesn't want you to drill on his land. he gets a payment for his inconvenience, a further payment is made to mineral rights owners who they can trace and cash paid into an escrow for any they cant, in case they come out of the woodwork later. equipment is incredibly easy to obtain, for most it is a case of literally 'going to the store' and it's delivered later that day or the next. miles was very animated with this new relationship with union jack and came across very well. interestingly, he said he felt 5-6 wells could be drilled on the andrews site and he said this was an exceptional formation. as for the flow rates, until they get the gas piped in, which is seemingly quite active, they can't stabilise the oil. there was no suggestion anywhere that they were disappointed in this first well and expect to announce the spudding of the next one very soon.

on the mineral rights, he just confirmed the potential of the returns and explained the opportunities in the permian basin and how much oil was left there, hence some companies union jack holds rights in are still planning on multi-well activities. it was also mentioned approximate revenues to date were just over $50,000 per month.

The question and answer period was, in my opinion very informative and every question addressed in as much depth as would be reasonable without breaching any possibility of giving out inside information. The broker Mr. Hale was present to ensure this didn't happen. I would have to commend Zac Philips for a very in-depth explanation of the tax situation too. He came across as being very clued up on the industry and the issues that are being experienced. Apparently he did a sole site visit to meet the Reach team too.

All in all, the board were very animated, very positive and the AGM concluded with a round of applause from all in attendance.

I spoke with a number of shareholders afterwards who held near 2-3% of the company and they were all satisfied with what they heard, they understood and appreciated the challenges faced by the board and all confirmed to me they had no intention of selling or reducing.

One question I recall was that could the RNS's be a little clearer, perhaps more explanations to non-oil wise shareholders on any technical statements. This was recognised by David Bramhill as a valid point and he would look into this.

Hope this helps, this is as much as I can recall for now.

Short memory Pboo. You have done nothing but insinuate negative outcomes and actions. I shall not do your research for you, as unlike you I do actually have a life outside of the bulletin boards whereas your life appears to he inside them.

I guess you. Like everyone else, are not privy to the reasons as to why flow rates are not yet ready to be released. However, just because they are being held back does not mean anything is wrong. When people were suggesting the well was only doing 20 bopd, the company provided an update confirming up to 100 bopd were being recorded during testing. They have also stated further updates will be provided once the upgrades are complete. It is quite obvious they are still carrying out work on that, also confirmed the next well is being mobilised very soon. Say what you like but none of this signifies a failure to me. You have been proven wrong so many times with your insinuations I have lost count.

Seriously Pboo, have you nothing better to do? You are on a par with Heid. Every time I post anything Inset the stop clock to see how long it is before you respond negatively. Did you really zoom in to a picture to analyse the reflection in an effort to spot major shareholders who you wouldn't have a chance of recognising to make that comment? You really are a bit if a saddo when I look at your parking outside of Horse Hill for years counting tankers and now this. What on earth will you do when you have nothing left to say on UJO?