RE: Ujo23 Oct 2021 18:15
It depends how people present their comments Crocqman. Every company has a negative. Poor management, poor assets, placings, you name it, someone always finds a fault where others find a plus.
There's no doubt the leaked placings have been extremely detrimental to the company and the shareholders. As to whether much could have been done is another matter. The leak in my opinion would be solely down to the broker as it would appear as soon as they are contacted, someone on their team, or whom they contact to sound out the interest, leaks it to a number of third parties. One could consider a change of broker, but these small AIM companies cannot raise for example £5m within 24 hours so the info has too long to leak and allow people to take advantage. I would question just what the management could do that would sort this tbh, social media allows the communication to travel to the wrong places and quickly.
I'm not too sure about whether you can lay the blame at the company door for being behind schedule as the operator is the person at the helm and there have also been planning issues, again behind the company's control. From my research, it would appear their assets that are JV's with operator Egdon have perhaps received to little attention/importance by them, more theynwere concentrating on their shale licences, again, likely very frustrating for UJO management who are reliant on them to progress all their assets. I do think the company has now turned a corner, Egdon can no longer see their shale licences as important, the fact they borrowed money from Union Jack signifies a potential realisation that they need to progress their revenue bearing assets. This is substantiated by the exciting result at Wressle. I see a concentrated effort by Egdon now to expedite operations at Keddington, North Kelsey and another well or two at Wressle. Biscathorpe will soon be going before the Council, that, if approved could be another asset ready for a quick turnaround. Regards your initial comment, there seems to be a glut of non-investors posting here who for some reason only want to disrupt, demoralise and spread unwarranted concern.
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