Union Jack Oil Share Discussion Threads

[atino] 29/8/2019 15:11

And oh...with the additional “oil column” being found...surely this is of national significance?? 🤷🏻‍♂️ No ?

Or how about...having some media hype present...(like horse hill) ?? And the BBC ??...to drum 🥁 the beat for potential punters ??

[atino] 29/8/2019 15:06

SP still finding its “range” ? 🤷🏻‍♂️


Munch...

Brunch...

Crunch...

[bakedbean] 29/8/2019 14:58

Thanks for the explanation, bit annoying tho how's it opens nearly 30% higher then eases back to around 8-10% .. same story for 3 weeks now, ends the day no where near the highs, it can't properly get off the ground so to speak

[sparusty] 29/8/2019 14:49

If you spout Sxit about UJO and try to scare people into selling... then you can expect to get sxit back in spades.

[tidy 2] 29/8/2019 14:38

Id imagine high and sustained flow rates due to the gas volume contained within the oil and the gas volume above the oil. Must be a very good sealed reservoir. Well done holders here.

[baz33] 29/8/2019 14:37

We only at .31 so its not that bloody good.

[whattheduce] 29/8/2019 13:32

'to flow' in the sense of extraction by whatever means. Pumped or not, choked or not, N2 lifted or not. I find it a bit strange that a few tanker fulls were not 'flowed' through the pipes. With Angus, the same think seemed to happen, gushing reports of oil, a fix due to some water and then the admission all was water. As with BB, they were bringing some oil to surface but had a significant technical issue with the methodology. And as for HH, you show your ignorance in abundance. There is a production cap placed on the ewt such that the 'flow' has to be managed to extend over a period of time to allow reservoir management measurements. When the ewt restriction is lifted after the planning on 11/9/2019 we will see what happens when the chokes are removed, the pump is retired and the taps are turned on.

UJO should have produced a tanker or two - big question left hanging in the air. I hope it works for you as it will help with UKOG market sentiment.

[likeawalrus] 29/8/2019 13:30

has there been any guidance as to when this will generate significant cash inflow?

[bionicdog] 29/8/2019 12:42

And bitter UKOGers.
Where is the FOTH today? Oh , he's blocked his account.

[currypasty] 29/8/2019 12:35

"proper M&A speculation"

watch out for a Bid one morning, without notice... that will value the company properly, not mm's and punters

[currypasty] 29/8/2019 12:34

Thanks to Malky's blog



Reabold Resources/Union Jack

An operational update from West Newton this morning and although the potential of a liquids find had been flagged this looks to me like a genuinely company making discovery for both companies.

The companies confirm that analysis and initial testing have led them to believe that West Newton project represents ‘a significant oil & gas discovery rather than the gas discovery originally anticipated. This is because the overall HydroCarbon column of 65 metres comprises a gross oil column of approximately 45 metres underlying A 20m gas column in the Kirkham Abbey interval.

The most important read into this announcement is probably the fact that they are very keen to get the CPR updated which will address the volumes that the partners cannot yet quantify although the positive language speaks for itself. ‘This is now an oil project’ and the technicals that we have here are worthy of serious consideration of a highly valuable UK onshore oilfield. In addition, the data from this well so far validates the 3D seismic over the entire West Newton project and with the next well targeting the deeper Cadeby formation could ‘add significant resource upside’.

With the partners now confident of a cracking discovery at the A-2 well the running room in the rest of the licence means that for both companies there is much more upside than has been demonstrated by the market today. For example the market cap of Reabold could be multiplied if all the potential upside is proved and I have no reason to believe not, this is getting into the territory for proper M&A speculation which I for one wouldn’t rule out for one minute. Onwards and upwards….

[wisteria2] 29/8/2019 12:23

Thanks lager, so a porosity of 15% in limestone with natural fractures should flow very reasonably!
Share price will rise from here having flushed a lot of traders out imo. gla holders

[currypasty] 29/8/2019 12:14

I think its getting ready for a bounce

[lageraemia] 29/8/2019 12:02

Carbonite limestone I seem to recall - hence the acid well prep.

hxxps://sp.lyellcollection.org/content/465/1/119

[cashandcard] 29/8/2019 12:02

Maxwell,


Forward selling by institutions in knowledge they will get their positions back. This sometimes happens IF they are privy to a placing doing the rounds and trading in the equities of the placee has not been suspended. That sometimes explains the abundant supply, not suggesting that is happening here...


Cash

[wisteria2] 29/8/2019 11:57

Anybody know what type of rock the west newton discovery is?

[lageraemia] 29/8/2019 11:54

"Somebody is supplying plenty of shares, otherwise it would need to raise sp
to tempt a few sellers..................."

It's insiders with institutional shares who know there's a placing coming selling above 0.295, because they know they can buy them back cheaper in the near future.

This has happened time and time again.

Its NOT Chris Oil who is NOT being fed inside information from UJO board judging by his social media posts and lack of TR1 saying he's selling.

[maxwell] 29/8/2019 11:50

Somebody is supplying plenty of shares, otherwise it would need to raise sp
to tempt a few sellers...................

[lageraemia] 29/8/2019 11:47

BMD called it right.

The institutions were pre-briefed by Raithlin. This RNS adds nothing new to what Dan said.

The next RNS will be 'over subsrcribed placing of another £2m at 0.295' judging by the price action.

Chrisoil hasn't put out a TR1 and isn't the seller - he's not a fraud (failing to put out a TR1, especially in light of his social media posts, would be criminal). I'd caution posters not to libel him on boards as there's no evidence Chris is selling.

The culprit here is the usual city spivvy 'institutions' and their bent casino culture. Too many PIs have been robbed by this behaviour in the past 10 years. There aren't enough of us left to collectively set the value of a company based on fundamentals, let alone hype.