Union Jack Oil (#UJO) – new West Newton planning application of smaller scale to be proposed
- 2021-11-26 07:48:30
My esteemed colleague Peter Brailey waxes lyrical about an interview that his friend and, in past days mine, David Bramhill of Union Jack Oil (UJO) has given with Proactive. Peter says that it is “One of the best interviews I have watched.” If that is the case he should get out more. To me this paid for interview is an exercise in folly and self-deception and makes Union Jack uninvestable.
David (Dave) Bramhill of Union Jack Oil (UJO) put an interview into the public domain yesterday. While I am not a shareholder currently, I was most impressed. It is worthy of noting any CEO / Exec Chairman who acts with apparent and demonstrable honesty and openness and I wish many more would do so. He did not duck hard questions – far from it. I should say Tom disagrees with me viiolently and explains why HERE.
Union Jack Oil (UJO) states that it “is pleased to announce an update in respect of the West Newton A-1, A-2 and B-1z discovery wells as part of the Extended Well Test programme, accompanied by an updated estimated best estimate in-place oil and gas volumetrics of the Kirkham Abbey reservoir”. The shares have responded more than 6% lower to 18p to sell, so is the news really ‘pleasing’?
Union Jack Oil (UJO), has be one of the most frustrating share listed on AIM as it holds so much potential within its UK onshore oil and gas asset base. But with any microscale oiler looking to establish a profitable future you have to have to believe in what it is doing, and the shenanigans over this latest placing is the final straw for me. The risk reward balance has now tipped the wrong way and I have lost the faith.
I stand by my comments over the weekend on the strategy and possible placing at Union Jack Oil (UJO) which I forced it to ‘fess up to on Friday. I am not a happy bunny. But there is another thing that rather frustrates me.
This is the market rumour. Shard rather than the listed broker the fraudster's pals SP Angel is apparently running the book. I have given the company the opportunity to deny it but it seems to have declined that opportunity. Apparently much of the cash is for an acquisition the rest for general corporate purposes yak yak yak. Given the broker apparently in charge...