Happy New Year to all Union Jack shareholders and potential investors, both here and in the United States of America. Hopefully we will all see a prosperous 2025 as this little company continues its venture in Oklahoma with Reach Oil and Gas.
Three wells successfully drilled and one awaiting confirmation, whilst flow rates may presently fail to excite, the fact remains they are producers. They are generating revenue. Two Andrews wells pumping gas to the main grid along with some oil, the Taylor still under test with a vacuum pump soon to be installed to maximise oil production from three potential zones and of course, the pending Moccasin. If this proves as successful as management anticipate, one could fairly say without the decision to take this step into the US, with the present outlook in the UK, the company would be pretty dormant with nothing for shareholders to look forward to. For all the digs being made against the board, Union Jack cannot simply rest on its laurels relying on Wressle. It has to take risks. It has to gamble on other prospects outside of its once safe zone.
I see on the bulletin boards the suggestion of a placing? If there were any substance in this rumour (started by Tom Winnifrith of course 😂), it is quite reassuring to know that it would not be to keep the lights on, but to expand their USA presence. And why not? The scale of drilling being paid for out of cash reserves will be a long term, slow process and one that could be seriously expedited with a sizeable cash influx. The USA is the land of opportunity for oil companies and there are, I am sure, going to be many knocking on the Union Jack door.
With the positive outlook in the states on oil exploration, Trump due to be inaugurated and his intention to ‘Drill, Drill, Drill’ the company seems to be in the right place at the right time.
Union Jack has quite a nice portfolio even with the sentiment being experienced in the UK. Wressle is throwing off enough cash to pay all the bills, allowing funded drilling of additional wells in the USA, financing the upgrade at Keddington and purchase of the Royalties. Not exactly a shabby performance! With the shares that have been bought back and the dividends paid, the stick being experienced by the bulletin board idiots who have likely never ran a business in their lives is totally undeserved. The share price is something that quite simply cannot be dictated by the company. Look at any company on AIM and they are in the same boat. Good news short lived.
A crew of mostly non-shareholders, resentful, bitter
ex-shareholders and of course Heid who seems unable to let go even though she declared herself and her family were no longer invested, continue to devote their lives to ranting and raving. What a pointless devotion to wasting valuable time.
I do feel 2025 will be the year of success and value restoration here. In what is a dismal market place, Union Jack will be amongst the shining lights when the recovery hits. And it will!
