What us needed now imo10 Oct 2021 11:36
is a 'breather' until we know exactly what the situation is at West Newton. It is and has always been the catalyst for the share price and until the results of the EWT are concluded, the focus will remain there.
What few people ever seem to understand or appreciate is that the best geo in the world may find the correct area to drill but cannot guarantee the hydrocarbons will flow commercially.
In fairness to the team, there is a massive oil/gas discovery here, it will not be any fault of Union Jack if Rathlin fail to get it to flow.
What Union Jack have to their advantage however, is they have great assets to move on to, they will remain profitable. Something that cannot be said of their JV partners.
AIM is one hell of a risk, it is like walking up to a one armed bandit at the right time or the wrong time. You could pump a 100 quid in and walk away with nothing or put a quid in after someone else has done the 100 and win the jackpot.
Looking beyond the constant David Bramhill bashing, the man has not really set a foot wrong on the asset investment front. He bought a piece of Wressle and has gradually increased the company's interest there, an extremely prudent move which has made the company a profitable entity, with a cash revenue potentially in the region of £6,000,000 annually. He has bought into Biscathorpe, another potentially massive-value asset and increased the interest there too. Both investments in Keddington and Fiskerton are returning revenue and we have North Kelsey yet to commence.
For an AIM onshore oil and gas company, look through all the sh*te being posted here and the long term outlook is extremely good.
Placings are part and parcel of the journey, nobody likes them, everyone believes they can run the business better than the management, social media allows abuse and manipulation. These BB's permit agenda driven individuals to drive the SP in their chosen direction.
I believe this company is going to prove all the antagonists and protestors who post here completely wrong over the next few months and out of Egdon, Reabold and Europa, this remains the safest company to be in at this stage.