Union Jack Oil Share Discussion Threads

[likeawalrus] 26/10/2019 13:10

hxxps://polaris.brighterir.com/public/reabold_resources/news/rns/story/x88m9ox

ujo has a great future with some very promising near term investments coming to fruition in the next few months but Reabold (see above link) looks to be seriously undervalued at the moment, perhaps Monday's GM will kick-start the share price

[markfrankie] 26/10/2019 11:30

Aatralvision, yes those investors were keen in the rbd placing. Prior to placing it was said; what u invest now is a fraction of what it will be !!!!!

[bionicdog] 25/10/2019 15:37

Roll on Monday.

[whattheduce] 25/10/2019 13:26

Money is on it will be remain voters who are by far the most violent. They have a divine right don't you know?

hxxps://www.walesonline.co.uk/news/politics/most-leave-voters-think-violence-17139827

[4sta] 25/10/2019 11:56

Loads of buys being put through on the NEX exchange.

[likeawalrus] 25/10/2019 11:40

telbap that doesnt make sense to me. current mcap circa £28 with £2.5m cash on the books, as astral says £150m cash injection is worth 1.25p per share so a modest 50% uplift seems unlikely

[astralvision] 25/10/2019 11:35

L2 strengthening, just SHOC left @ .235Possible tick up alert!

[astralvision] 25/10/2019 11:33

telbapUnless I've got the wrong end of the stick £150m is worth 1.25p per shares, working of 12bn shares.Add in the other projects as well and you've got an share price multi bags up on the current one.

[telbap] 25/10/2019 11:17

@likeawalrus.......150m cash gives us appx 50% uplift of our current share price in straight cash terms

[astralvision] 24/10/2019 20:00

Yes, it's an interesting read and we can all take it or leave it.RBD must be convinced WN is the mutts nuts to pour so much money into it and half wreck their share price in raising the cash. Not only are RBD convinced but so, presumably, are the investors who ponied up £24m.Happy days ahead!

[likeawalrus] 24/10/2019 19:24

yet another article from californiajoe articulating his strong opinions on ujo. nothing wrong with that of course but I do question 2 of his claims.

caljoe "There will never be a question of field development, it is purely prove it up and sell it on."

Reabold's website says "Potential methods of monetisation include an asset sale, IPO or putting the asset into production."

so unless he has privileged information his statement is just his opinion.

caljoe "By the end of the second quarter 2020, in my opinion, West Newton will no longer be of interest to the partners, it will have been taken by a major and Union Jack Oil will be in receipt of a minimum of £150,000,000."

as I have said previously, his £150m guessitmate is suspect (great if it's correct of course)

...just because you say something with great confidence, it doesn't mean you are right!

[astralvision] 24/10/2019 17:32

Yes, it's a done deal, that's for sure.

[uggy100] 24/10/2019 16:50

Curry

Don't think they need to, i'm sure it's a done deal (disastrous if not) After the EGM I'd expect more info, i.e. volumetrics & an update of when we might expect the EWT to start.

[astralvision] 24/10/2019 15:10

Blue eod?Nice recovery.

[uggy100] 24/10/2019 13:46

Going back to the value of WN, we'll need B1 & B2 drilled to fully appraise the field. Once done then $10 per bbl should be attainable hence the 1 bill take if rumours of 100 mbbls recoverable are correct. The B1 well will be targeting Cadeby as well so there would be a further upside if it's a good drill. Due to the potential size of the project theres no way the current partners will have the funds to develop it so it'll be sold pretty damned sharpish imo.

[guesswhosback2] 24/10/2019 13:11

another 6.6m for me.

Thanks to Jumasel99 on EOG thread:


Wressle planning inquiry documents now uploaded on NELincs website . A few comments from climate change folk but they should really keep up to date with government thinking on that one . Climate Change is not a consideration for Planning Inspectors they say.

Very clear from evidence submitted that NELincs and Egdon have agreed on allowing Wressle to go ahead subject to the conditions they have agreed upon.

[maxwell] 24/10/2019 10:42

Only 35mil traded & with 30 trades hence nothing spectacular, just the spread
being large with the MM,s trying to show a profit.

[atino] 24/10/2019 10:11

...so many “variancesR21; to understand 😉🙇 (...good conversion folks 😍)

...anyone in Platinum currently ? 😉

[ccr1958] 24/10/2019 09:59

Here we go again......

[4sta] 24/10/2019 09:56

Don't understand all the sells today. Didn't the oil analyst at the Cassiopeia investor symposium say that they have more information and that it was just a question of when they decide is the best time to disclose it? Surely they are just waiting on the Reabold meeting on Monday to be done and dusted and then there will be a flood of news?

[likeawalrus] 24/10/2019 09:53

thanks wba1. with regard to a potential sale, would it be a joint decision or does Rbd have the final say? obviously a cash injection would be great for the ujo share price but a nice healthy income for years to come also seems attractive.

[wba1] 24/10/2019 09:22

A good indication of prices for assets is given by the sale of its Wytch Farm interest by Premier in 2017. The price was $275m for 14.9m barrels of 2P reserves, giving an effective price per barrel of circa £14 at current exchange rate. However, this price was paid for an established field with development and infrastructure already in place and paid for. On this basis a price of £10 per P2 barrel is the probable max for West Newton. Obviously this makes the new CPR (and further drilling to increase the CPR further) absolutely critical to getting the best price and is why I hope UJO does not sell up for a while yet.

[maxwell] 24/10/2019 08:44

Once it has the numbers/potential plus expectations of further drilling etc. then
standard factors applied to give a value that may be used to offer for sale.....

Hence the importance of evaluating possible extraction volume.