Union Jack Oil Share Discussion Threads

[likeawalrus] 23/6/2025 09:17:23

our future in Oklahoma?

[likeawalrus] 23/6/2025 08:25:59

AGM this Friday, resolutions 2 and 3 could be interesting

[currypasty] 20/6/2025 14:41:38

news next week? possibly monday ?
keddington update?
USA update?


all in time for

"Notice is hereby given that the Annual General Meeting
(the “AGM”) of Union Jack Oil plc (the “Company”;) will be
held in the George White Suite at The Bristol Hotel, Prince
Street, Bristol BS1 4QF on Friday 27 June 2025 at 11.00 a.m. "

[likeawalrus] 20/6/2025 13:43:33

The ES must assess scope 3 emissions from hydrocarbon production over the lifetime of the proposed project
These emissions must be considered regardless of evidence that hydrocarbons produced by the project would replace those extracted elsewhere
The scope and extent of any assessment of the effects of scope 3 emissions must be transparent and clearly explained in the ES

...the 2nd one is just daft. It effectively says we are happy to burn O&G along as someone else takes responsibility for the emissions. What an incredibly stupid act of self harm.

[currypasty] 19/6/2025 12:16:35

Union Jack Oil plc
@UnionJackOilplc
·
27m
Last quarter, Union Jack Oil Plc announced the success of our Moccasin 1-13 well in Oklahoma, USA. This commercial discovery marked a significant milestone in our US expansion strategy, and is set to drive material revenues for our future.

Our partnership with Reach Oil and Gas continues to yield positive results, and we look forward to further growth in the US market.

Learn more about our US operations:

[1347] 19/6/2025 11:45:01

Why should he bother rocking the boat? He's on a cushy number, few emails, few phone calls, the odd RNS then off to Greggs for a long lunch. Gets well paid and now trips to the USA fully expensed. Every year he just cuts and pastes last year's Annual Report, changes a few dates and a bit of other stuff and there you go, this year's Annual Report.

[kim_clay] 19/6/2025 10:29:51

Mr Abbott now takes instructions from his Chairman Mr Yates, Mr Yates recently told the press he's got enough gas under Lincolnshire to supply the UKs gas needs for the next 7-10 years, and worth £112bn. Given this "fact" I suspect a few bbls a day from Keddington is probably not at the top of his priority list.

[likeawalrus] 19/6/2025 08:39:53

I asked chatgpt who has to sign-off Kedd

Authority Role / What They Approve

HSE (Health and Safety Executive) Safety case and major accident hazard management. Approves operational safety changes and inspections.

North Sea Transition Authority (NSTA) (formerly OGA) Licencing authority for petroleum exploration and production. Approves field development plans, production consents, flare/vent consents.

Environment Agency (EA) Regulates environmental permits: water discharge, waste management, groundwater protection, and any emissions to land, water, or air. May require updated permits after upgrades.

Lincolnshire County Council (Minerals Planning Authority) Grants planning permission for onshore oil/gas sites. Any material change (new equipment, tanks, flares) may require revised planning consent.

British Geological Survey (BGS) Usually informed for seismic monitoring. Not an approving body but may be consulted for subsurface concerns.

Oil and Gas Authority (OGA) → now part of NSTA Retains oversight of economic recovery and reservoir management (merged into NSTA).

Local Fire and Rescue Authority May need to be notified, especially if the upgrade affects fire risk, access, or emergency response plans.

[currypasty] 19/6/2025 08:27:47

would keddington be listed on any Govt. sites?

[likeawalrus] 19/6/2025 08:12:16

23.09.24 Currently, a material upgrade of the production equipment and site modifications at Keddington is ongoing, the result of which is expected to increase efficiency and production rates going forward. Works are expected to be completed and production reinstated during late Q4 2024, adding a further increase to Union Jack's revenue stream.

13 months since production stopped, 6 months overdue...all very strange

[likeawalrus] 18/6/2025 12:54:46

2023 royalty £ 35'142
2024 royalty £ 196'737
2024 revenue £ 192'158

total income from US assets as at 31.12.24 = £ 424'037

[1347] 18/6/2025 12:10:53

Kim, I only included those that have been drilled and producing thus far (or not as the case is for Taylor) and I did not include Royalties purchased or any earnings from Royalties. Yes the final bill will be about double and thus indicates PPM.

[kim_clay] 18/6/2025 12:00:10

Your $3mm is short of the mark.Total US investments as per their own published numbers, not including opex or any upgrades etc etc etc.Andrew $1.2mm -Taylor $0.85mm -Mocc $0.85mm -Rogers $0.24mm -Diana $1.56mm (inc seismic, presumed committed but not yet drilled) -Royalties $1.02mm - -Total $5.7mm.

[currypasty] 18/6/2025 10:07:15

well, someone bought 125k this morning 🤣

[1347] 18/6/2025 09:47:36

So the scores on the doors are 1 Trickler, 2 Dribblers, 1 Duster. I reckon over $3 million spent in Farm In, Back Costs and Drill Costs and so far the return is circa $400 k revenue, after Opex etc that's next to naff all earnings. More like 6 years payback time not 6 months. To be clear, USA is in no way a money spinner, UJO would have made more just sitting on the cash. This is negative ROI, and a sign of poor management. Wressle is declining, everything else being can-kicked as usual. There is no investment case here. Anyone with an alternative view point is delusional in my opinion.

[likeawalrus] 18/6/2025 09:14:48

regarding Royalties, Europa's RSA deal is effectively a Royalty, I have to wonder if it was offered to UJO. If it was, why did we not take as it seems like a great deal for the counterparty? If it wasn't, I wonder why not considering we lent EOG £1m so I thought WH & DB were BFFs

[kim_clay] 18/6/2025 09:07:32

I think that's right LaW.A1 177 bbls over 60 or so days is approx 3 bpd and it looks like A2 is somewhat less than that. So maybe 5 bpd gross or around 2 bpd net UJO for oil.Gas of course is the main revenue stream for Andrew, Probably still intermittent production from Mocassin, so we have to assume 80-100 is the current rate when flowing, 40-45 net to UJO.Not really sure these are the game changing quick return revenues they expected after sinking $mm's into the US.At some point they might need to consider turning this into a divi/return of capital play, cut costs to a bare minimum, stop further risk based investments other than Wressle phase 2 plus perhaps more US Royalties and run it for cash returns to shareholders.

[likeawalrus] 18/6/2025 07:58:33

Moccasin - April 1'980.59 (66 bpd)

A-1 = Dec 167, Jan zero, Feb 176, Mar zero, Apr 177 ...this dataset suggests A-1 can fill a tanker every 2 months

A-2 = Dec 172, Jan zero, Feb 173, Mar zero, Apr zero?

Taylor - no data

[kim_clay] 16/6/2025 15:51:50

They didn't do it before because it wasn't the best technical option ie new hole drilled with oil based mud and a long horizontal section which they told us solved the previous issues. This is the fall back but affordable option, enter an old well previously drilled with water based mud, so they have to run a prop squeeze to try and connect into effective porosity and permeability outwith the water damaged zone. The fundamental issue with this type of carbonate reservoir is that the interconnectivity of the porosity is unpredictable as it's mainly formed after deposition. Standard practice in other geographies is to drill long horizontal wells to try and connect as much broadly unpredictable fracturing and vuggy zones as possible, hopefully with some primary porosity helping. The volumes suggested make assumptions based on estimates of what that interconnectivity is and how far it extends. As always it will require a long test to see what gas volume is in connection to the well, pressure support etc etc .

[likeawalrus] 16/6/2025 12:38:41

RBD CEO's have bought 170m shares this morning, hence the uptick

thx Kim, Im still not clear why they didnt re-enter & re-complete to get the gas flowing, surely that would have encouraged investment?

[kim_clay] 16/6/2025 12:30:00

LawBecause they needed someone else to fund the original full meal deal development, then they decided on the one new horizontal development well ( £12m). Seems finding for either option wasn't forthcoming. It appears that the best affordable solution was the entry and prop squeeze £1.4mm and "fully funded" by JV Partners.

[likeawalrus] 16/6/2025 11:45:02

what I dont get about WN is that RBD has been saying for a while that to re-enter and re-complete a well will cost £1.4m and get the gas flowing which in turn will fund further work. So why didnt they do that 2 or 3 years ago?

[currypasty] 16/6/2025 10:32:06

are people buying RBD on the West Newton update ?

up 17% so fare