Union Jack Oil Share Discussion Threads

[atino] 05/8/2019 08:00

Morning “wretched board”

...let’s see what this week brings 😉 world indices & oil are currently having a blood bath 🧼 🛁

ATB

[uggy100] 05/8/2019 00:52

So have I now.

[guesswhosback2] 04/8/2019 21:15

I have him filtered. Anyway some mobilisation next week I suspect.

[bionicdog] 04/8/2019 19:39

I can't , he's blue. To be honest , I don't mind people being negative , it's just the sheer volume.

[uggy100] 04/8/2019 19:05

bionic, just get rid of him, I've had enough of his ramblings

[bionicdog] 04/8/2019 17:28

Is there any point to all this?

[atino] 04/8/2019 17:27

...UFO 🛸 signs anyone ???

[atino] 04/8/2019 17:09

...BRING FORWARD...YOUR “FINEST” AVATOR...THAT THIS “WRETCHED BOARD” HAS TO OFFER 🙇😤

[atino] 04/8/2019 17:07

[Quote 🙇 4/8/19] “Union Jack Oil, watch out for the signs!” 😳

Everyone's waiting now for the results of the extended well test, which could be six to 8 weeks. However, do we have to wait that long to know just how good this well is going to be? No, we don't!

Next week I fully expect to see the equipment arriving in preparation to flow test not only the gas, but the 'unknown' entity believed to be condensate and/or oil.

Now, of course, until these tests are complete, we will not know whether they are commercial BUT we will know long before completion how much is being extracted.

As much as I abhor the protesters and their actions to slow down and disrupt the access and operations, the one thing they actually are good for is reporting on vehicular activity,

Once everything is in place, the operators will perforate the casing to create a channel between the pay zone and the well bore to cause oil/gas to flow. As soon as this is accomplished, game on! This not a time consuming, difficult task!

Bearing in mind we will only have a 50 tonnes storage tank on site, so whilst awaiting the 199 tonnes tank there will have to be regular tanker movements to keep it empty and available whilst testing.

For anyone selling down thinking they have almost two months before test results to look at other potential investments, they may well find the share price showing substantial strength as it becomes clear there is oil being extracted.

Remember, it was the gas that was the primary target here and that, according to management is already a dead cert! A dead cert that was described as going to be transformational for the company. The only thing we are waiting on with this is just how much more than the anticipated 189bcf is 'exceeded expectations'!

People will take their chances, in most cases when you know you have a month's grace you will sell down and try to make a few bob elsewhere, buying back in ready for the next batch of news. I think this could very likely bite a few on the bum here and personally I am not taking that risk.

This could easily be .5 on reports of the first tanker leaving the site.

In addition to West Newton, there's also the chance something else could be slipped in on the news front, Biscathorpe maybe?

[atino] 04/8/2019 17:06

Oh dear...an other avavtor 🤦‍a94;️...whom dares run’s 🏃‍a94;️ against MY...mighty “Atino” 😉 (...and “yes” the envy to you all 💭💭💭 HE IS ONLY ALL MINE, TO KEEP 😍🥰🤩




“TIME”....TO GET Y’ALL...ATTENTION ! 🙇😤💭💭

[atino] 04/8/2019 16:56

...planet Red Rock 😉


(Quote) UK Oil & Gas (UKOG) and Alba Mineral Resources (ALBA) announced a Horse Hill update. Portland connected oil volume accessed by HH-1 has significantly increased from 7 – 11 million barrels to 11 – 14 million barrels. Kimmeridge test production (currently 200 – 266 bopd) is planned to continue throughout the drilling of HH-2/2z. The drilling rig is now scheduled to arrive on-site following routine servicing after the completion of its current job.

There was good news too 🙄 for Union Jack Oil (UJO), Europa Oil & Gas (EOG) and Egdon Resources (EDR) who all announced a Wressle planning update. A decision has been made that North Lincolnshire Council will not be presenting evidence at the Public Inquiry and will withdraw its case. Planning permission still needs to be obtained via appeal, but the companies consider this to be a very positive development 🙄🤦‍♂️. Wressle is a discovery which tested at 710 boepd and the CPR estimates 2.15 million stock tank barrels classified as discovered (2P+2C).

[davethechef] 04/8/2019 15:29

What planet have you visited from Altino!?! or have you been on the "sauce"!!!

[atino] 04/8/2019 14:58

P.S - no need to be alarmed "wrenched board"...course of events shall "eventually" take its turn (either, or!)


[in the meanwhile...] just recognise "Atinos" self-sufficiency 🙇‍a94;️😉...(Mwoah)😍

[atino] 04/8/2019 14:52

(why...) Thank you "Share Prophets" 👍 (...for making me see the "wood from the trees").



THIS...."UJO SHARE"....SHOULD BE GOING DOWN ! 🥺 😤

[atino] 04/8/2019 14:49

So basically...



(Quote 9th July) "Is Union Jack Oil at 0.28p, now worth 0.55p ??? " [amended & "hell no" LOL 😉🙇‍♂️]


- Caveat 1: share price Angel which produced this note is house broker to Union Jack Oil (UJO) so is biased.

- Caveat 2: Zac Phillips no longer works at share price Angel and the new analyst is not fit to lick Zac's boots.

- Caveat 3: Chris Oil owns stacks of these shares and will sell into any spike while urging others to buy like the dirty little spiv he is. Having said all of tha,t I can't fault the logic of this detailed note 😂 !

[atino] 04/8/2019 14:33

If "tings" are looking "so great"....then why did "GP (Jersey) Ltd"...bail/de-risk, in recent times 🤷‍a94;️ ??



...but then shortly after (...to re-instate "confidence" & good will)...the grant/or award of Share Options....came...from management ??



HERE'S A "CATCH 22" FOR ALL YOU'S....(what's more important in precedence)...


"institutional investor" confidence....or "directorship/management" confidence ???

[atino] 04/8/2019 14:25

Let's see....how [and by how much!] your..."PAID FOR SERVICES" (LOL)...has RAMPED...you's all up by 😤🙇‍♂️😉



[Snippet]

• On the back of this successful appraisal well result we feel comfortable reducing our risking on West Newton and also including a contribution from the liquids column to our valuation. We are resuming research coverage with a DCF-based target price of 0.55p/share, or nearly 3x the current share price. It should be stressed that we believe there remains considerable upside from here, albeit subject to the outcome of the EWT.

•The EWT is expected to give much greater clarity on the quality of the liquids as well as the reservoir characteristics. Moreover the deeper Cadeby Reef target also had hydrocarbon shows and will be further tested by a future appraisal well, likely the West Newton B well, and potentially before the end of the year as it already has planning permission and funding. West Newton B is located some 2 kilometres south of West Newton A-2.

•In terms of what investors should be looking for from the EWT which should commence around early to mid-August, we understand that a conventional vertical carbonate well with appropriate porosity and permeability could flow at rates of approximately 100 – 150 bopd which could translate into 5 – 8x that amount in the context of a future long-reach conventional horizontal development well.

•The original budget for the West Newton A-2 well was £4.6 million, with UJO liable for £1.15 million of this. It is understood that the well took around 50 days to drill and core versus the original estimate of 40 days, although it was still completed within budget. The over-run was largely down to the extensive coring and logging that was undertaken on the well.

• The operator of the licence, Rathlin Energy, has commissioned Deloitte to prepare an updated Competent Persons Report (CPR) to incorporate the results of West Newton A-2 and the upcoming EWT. This could see a material increase in the NPV10 from the >$300 million that Rathlin estimated for the West Newton project prior to drilling the success at West Newton A-2.

• In terms of future prospectivity on the PEDL183 licence, it should be noted that the West Newton structure covers an area of around 4,800 acres, within a licence of 176,000 acres. The company believes there is significant upside in the remainder of the acreage, with a number of exploration prospects significantly de-risked by the result of this well.

• UJO also has a 27.5% stake in the Wressle discovery in nearby licence PEDL180/182, which is an ongoing oil development project. Whilst relatively small (2.5 million barrels of 2P + 2C), the project could generate valuable cash flow for UJO in 2020 if planning approval is granted.

• Following the £2.25 million equity raise announced on 28 June, the company is now in a strong position to progress West Newton. The company is now fully funded for the EWT, which should commence in early to mid-August. The estimated cost of the flow test net to UJO is around £0.7 million and initial results could be as soon as late August 😉🙇‍♂️

• Valuation: On the back of this successful appraisal well result we feel comfortable reducing our risking on West Newton and also including a liquids column element in our valuation.

• This has the impact of increasing our target price from 0.44p/share previously to 0.55p/share, or nearly 3x the current share price 😂. It should be stressed that there remains considerable upside from here, subject to the outcome of the EWT.


Conclusion:

Whilst there are still questions to be answered around this successful appraisal well following the original West Newton discovery, the appraisal well is causing considerable excitement for the joint venture partners and their investors, and rightly so.
This could be one of the most significant onshore discoveries made in the UK in years, if not one of the largest ever. With the EWT commencing in August, there could be a material near-term catalyst for the UJO share price.

An updated CPR fully incorporating the results of the coring, well logs, re-mapping of the reservoirs and the EWT in Q3 or Q4 could provide a further catalyst.

There also remains the possibility of a West Newton B well being drilled before year-end, targeting further upside from the Kirkham Abbey gas and liquids discovery as well as the deeper Cadeby Reef exploration prospect that is a 79 million barrel oil target.
*SP Angel acts as Nomad and Broker to Union Jack Oil PLC

[atino] 04/8/2019 13:32

“Campaign̶1;...all you like 😤 (...I’m sure “many”...have seen it all before 😂😚😘 !) LOL 😜



But when the chart starts tipping...(and you start whistling 😗...moaning...defending...and then eventually...DUCKING) 💭💭💭🤗 Then “we” shall start TALKING 😤😘...

[guesswhosback2] 04/8/2019 13:23

I dont know so maybe someone can explain why people like to decamp and mostly make fools of themselves? I'm not sure what monetary value it holds
I doubt they are short as you need big money to trade in leveraged markets. So what's the point?

[moneymunch] 04/8/2019 12:50

17th June 2019

Union Jack Oil* (UOJ) report a highly successful appraisal of West Newton onshore UK discovery partnered with Rebold

Reabold describes it as potentially the largest UK onshore gas field and the largest hydrocarbon discovery onshore UK since 1973

Crucially a significant liquids component identified

Extended well test now planned for Q3

Previously CPR assigned $247m of gross value, equiv. £33m net to UJO

This could be a genuine game-changer.

[atino] 04/8/2019 12:31

Let’s see 👀 if you’s...have another (3rd) attempt/or assault...over 0.30’s 🙇




Or is this “wrenched board” (and it’s members!)...running out of “puff” or things to say 💭💭💭....LIKE THIS CHART perhaps is !😳🥺🏄‍ϓ4;️ 🤷🏻‍♂️

[atino] 04/8/2019 12:19

...or tell me something...that I do not know ! 😉💭💭💭

[atino] 04/8/2019 12:18

Maxwell - please speak 🗣 your mind 🧠 (...I didn’t quite catch that)...