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that doesn't want his share price rising, but they are not as desperate timewise as their shareholders. Patience is something most investors lack. If they are not in positive territory a few months after they invested, the company is sh*ite. . Admittedly it's been a long time coming here but realistically as soon as this placing has completed and been announced, it's blue skies all the way to mid-tier status. Union Jack is a profitable oil producer, this has been for a week. With whatever they raise in the bank and a number of near term producers sat waiting, I can see a revenue stream of £10m in the next 6-9 months,

So where would all the cash come from to continue at West Newton, Keddington Biscathorpe? Every penny going to pay back a loan in a time when the whole world stability is at risk? Risk free debt financing is the only way this company will achieve mid tier status, I would personally be totally against borrowing money at this stage in their development and the risks attached to securing a loan on assets. I mean, Bernard Matthews has just announced we're fooked for having a turkey at Xmas lol

stabilised flow rate and production of 750 barrels of oil per day, then follows this up with a confirmed result, gas or oil or both at West Newton A2, everyone will be saying 'well done David' and everything will be forgotten. AIM is a platform for companies to raise money without having to pay it back. Not practical to go to the bank for £5 million, it would be secured against assets for a start. A placing is risk free in terms of raising money and anyone who thinks any different shouldnt be gambling their cash on the stock market. Whoever you invest in, they WILL raise. As I said, I do think UJO has now turned a corner because this is the first time in their history where they are profitable and in the position to increase revenues . I have every confidence my investment will move northwards.

Micky, I couldn't give a flying feck whether you listen to me or not tbh. I am not saying anything new, I am being positive because it is my investment. I would like to think in 6 years I am not whinging still like you. In all honesty I cannot see why you have stayed so long being so unhappy. I have got in at what I perceive to be apt timing, you (if you have really been invested for 6 years) got in at an early stage and suffered all the fund raises and deal making, I can understand your bitterness seeing me buying in at a stage where the company becomes profitable but there's no need to bash me for being positive, it doesn't really make much sense does it?

Lol, as I said in the header. As usual, anyone who posts positive here gets attacked. It's an obvious tactic by the overly prolific derampers to depose the positive posters. I am not daft enough to believe this company is the best thing since sliced bread but there aren't many profitable onshore oil companies in the UK and this one has the makings of something special imo. And whether you believe me to be someone I am not is your prerogative. Makes no difference to me and won't affect my opinion or my posts.

issue when someone new joins a bulletin board? It's a conspiracy, you are someone else lol. Everyone has to have a first post, no wonder people don't bother when they get loads of sh*t from long term posters. I bought into UJO based on Wressle more than anything else as I believe it will be an absolutely massive cash generator for the company and the only things holding back a marked increase in the SP is the fear of West Newton and the placing. The latter we will no doubt hear about this week imo, West Newton in the coming weeks.

I was actually supportive of you Heid, I was referring to the person whos mind was being read lol! As in that couldn't have been hard? I think maybe you are being hounded to such a degree you cannot recognise people who aren't ripping into you.

Doubt it was that hard ??

has yet submitted a solution as to prevent future leaks once the information is submitted to the broker. UJO is targeted, for what reason I don't know other than certain people making a killing out of every placing. The only option I can offer up is to completely disassociate with SP Angel as THAT is where any leak starts its journey., not with David Bramhill.

Who said it was Heid?

Itsawrap, the well is drilled and a discovery confirmed. It will only be a side track to production. Not a costly operation to bring in what could be substantial revenues.

asset development target imo. It's described as the largest unappraised hydrocarbon discovery in the UK. If this is even mildly correct, it wont be part of a Rathlin/Reabold development, it will be UJO major partner with Egdon as operator.

Already drilled, a side track is all that is needed here to prove it up.

forced out in an RNS by Tom Winnifrith and his nark is really a confirmation that a placing IS underway and I have no doubt this will be confirmed very soon.

For all the screaming and crying, the accusations of the Executive Chairman leaking the raise, being incapable of running an oil company, not having a clue and everything else that has been thrown at him, nobody actually knows the reason for his actions.

Bearing in mind the decision would need to be made by the board, not just him and he would have had advice from his brokers etc. So how about people wait to see precisely why its been done?

One thing is quite obvious and quite the opposite to some people's idea of being fully financed, the company had £4,672,508 at the end of June.

Of this, £2m is to be paid to Calmar on full production at Wressle, which it would appear is imminent. There will be an invoice since then for their 16.666% of the operational costs at West Newton. This could potentially leave them with about £2m in hand, excluding whatever quarterly fees, salaries etc that would be included in that 3 month period.

Now, West Newton is still undergoing testing which when completed, will lead to ongoing operational costs. Therefore in the real world, the company although financially stable, would be looking at increasing the bank balance to ensure they can side track Keddington and Biscathorpe. Who knows what other plans they have to increase revenues?

The fact is, as painful as a raise is, it is hardly going to make the shares in issue unattractive. It will give them a strong bank balance which will be topped up every month with the Wressle, Keddington and Fiskerton revenues, likely to be in the region of £450,000.

Union Jack has turned a corner, it is for the first time profitable, is generating considerable revenue, it is a new beast that will now gain traction.

Some may say it's a leaky ship with an incompetent at the wheel but say what you like, he is guiding it into port safely!

*shale

Egdon also has a plethora of shake licences which will unlikely ever do anything other than suffer the cost of getting rid of them.

'leaked placings' as the reason for the problems here or blamed David Bramhill for them has actually submitted a way to ensure they do not happen.

When the company sound out a fund raise, they approach their broker to see what interest is there. At that stage, nobody has leaked anything. Only the brain dead posters on here go as far as to suggest the board tips off Tom Winnifrith or Brokerman Dan. This is obviously not true and I am sure after the last debacle they were very stringent in their approach to SP Angel/.Shard Capital.

As soon as they get this information, they nee to approach their clients. There is no alternative to this. It is from there on that any leak transpires. How can that be stopped? Quite simply, it cannot.

Until an AIM company reaches the stage by where it can raise funds within 24 hours of a sounding, the news will filter out.

So instead of blaming David Bramhill, how about try coming up with some solutions?

people on here. We are all here to make money, that is a collective cause. There's no shame in promoting your investment yet anyone that does, immediately gets attacked and verbally abused.

Today is a day that anyone can see is a major turnaround for the company. It is profitable. That is a landmark achievement for any AIM listed company whether or not you like the management. The fact is, they have got there.

Their asset bag holds a few near term producers that could be as good as guaranteed when it comes to producing oil

Keddington side track could easily provide 300 barrels of oil per day. With Wressle and Fiskerton combined, one could expect 550 bopd to Union Jack Oil. 550 barrels at $75 a barrel equates to more than $15,000,000 every year, over £11m sterling. Now this is near term as I say, potentially within the next 6-9 months. This is without ANY success at West Newton or Biscathorpe and not calling on any other of the assets. I believe Rathlin will keep on at West Newton A2 until they get something out. Maybe oil, but more likely gas imo. That will do what for the SP?

Worth £7k. Took me 25 minutes to get them through. Wouldn't let me have even a 1000 quids worth, kept revising the order.

alleviates any concerns over West Newton. Irrespective of the outcome there, Union Jack have more than enough assets that are capable of producing vast quantities of oil revenue on their own. They have the best portfolio amongst their peers. With the Royalties, side track at Keddington, additiinalmwell on the Wressle licence etc, this is a million quid a month near term.

an institutional target. Profitable company, substantial oil prospects. David Bramhills dream of.mid tier status is in sight. This was .3 in old money, 60p with just hope. It's now a dream come true and will rerate over time. Well done the UJO board.