someone's taking a big dump |
Looks like a long time holder moving along per 1/2 million shares + sold this morning just hope they are happy but I doubt that will be the case… |
Yes LAW things could get interesting for sure,
I'm still waiting with eager anticipation regarding USA, |
2025 could be an interesting year for revenue.
Wressle 2024
Q1 av. 531 bpd
Q2 av. 392 bpd
Q3 av. 381 bpd
Q4 av. 293 bpd
assuming December was low due to downtime, we could be circa 320 bpd pm in 2025, that's about $3m @ $65 net.
maybe $40k pm from Andrews & Royalties, plus whatever Moccasin provides
Obviously Keddington is a complete unknown, hopefully at least 50 bpd otherwise what's the point of spending a considerable sum on upgrades |
multiple target zones to be tested. |
And just three lines on Taylor.It was drilled.It was based on 3DCromwell formation to be tested H2.Cromwell was a secondary target, so this implies the Primary Hunton reservoir, didn't flow at a commercial rates. Can't see any other reasonable interpretation. |
thx to JokingU
..guess what, not a single mention of Diana |
April next week, where is the Keddington update ? |
thanks Kim, at the moment the portfolio is not doing well but Moccasin may be a turning point. The silence re Taylor does not bode well and where is Diana??? Let's hope the Royalties come to the rescue |
Updated the US production/revenue numbers for Andrew et al using Oklahoma monthly oil and gas prices and ok.tap and company's published numbers up to end Dec.Investment $1.2mm gross Revenue before opex etc (price*production) $360-370k. Monthly revenue $17-19k, gas prices up to around $5/mcf. I'd be surprised if this pays out its investment, never mind a return. Taylor: cost $850k presume the silence is ominous.Moccasin: cost $850k needs to perform well to repay its investment and the other $2mm ($1.63mm net of revenue) in Andrew and Taylor. Summary: A,T&M investment $2.9mm revenue to end Dec $370k. Estimated end March $420k. |
 David Bramhill, Executive Chairman of Union Jack, commented: "We look forward with positive anticipation to the evaluation and test results from Moccasin, which have the potential to be of major importance for Union Jack. Yeah right.
Bramhill 29/1/25 RNS This man is a whopper, he needs voting out him and old Joe greedy beggars never put a penny in.
"I am pleased to report that the Company remains in a robust financial position having paid all major outgoings including drilling and completion costs for its current USA activities.
"We continue to generate material revenues in the UK from our flagship project at Wressle (Union Jack 40%), where approvals to proceed with the next stage of development are awaited. These revenues are expected to be boosted by Keddington production (Union Jack 55%), where restart is expected in early 2025.
."Notably, we have meaningful interests in all our principal projects that we believe will assist in delivering on our stated growth strategies in both the UK and USA.
"We look forward to reporting in due course on evaluation and test results from Moccasin and completion results from the Taylor 1-16 well drilled late 2024." |
Taylor's a duster, wake up and smell the coffee boys and girls. The others are dribblers. Moccasin is yet to be confirmed, one way or t'other. |
thx Kim, hopefully Moccasin and Taylor will be showing Feb data next month. If at some point Andrews becomes uneconomic, I guess they would use the infrastructure for another site. |
LAW, I'm pretty sure the oil data is based on the oil being collected rather then produced.I've looked through a number of Reach wells (Sandy is a good example) and it looks like monthly reported "production"is often about 170 bbls or a multiple of that. This suggests each lifting is 170 bbls, if there's not enough one month then there's no reported production, if monthly production is more than 170, then there's will be sone carried over for the next lifting, so you might get two in a month. This doesn't necessarily suggest increased or decrease in actual production, it's a simply a function of lifting frequency. |
just an observation - Andrews not yet showing oil data, however other Reach wells are |
uggy, oil data not yet added, it's possible we may see oil for Taylor but the RNSs didnt sound confident |
I'm guessing Taylor is a bust then ? |
Andrews 1
31-Jan-2025 Natural Gas 3,449.00
Andrews 2
31-Jan-2025 Natural Gas 300.00 |
Law, it's all ifs and buts and conjecture. I'm more interested in actual facts and the facts are that following the initial decent flow rates at Wressle, which is three years ago now, neither the Eggedon operated fields, in which UJO has interests, nor the Rathlin West Newton White Elephant field have progressed much, if at all. The USA venture thus far has lost money, two of the wells are dribblers, one is a duster and the other we're still waiting on confirmed longer term flow rates. I understand you trying to 'talk the share price up' but Mr Market doesn't work like that (unless there's manipulation of the share price to forward sell placings or to let insiders exit).. |
if wressle expansion is granted, Wressle could become very lucrative again. So Europa would surely wait for a decision, if it's favourable then they may put all or part of their 30% up for sale. They will need cash to keep their other 'big ticket' projects on course. With or without more Wressle, UJO will need a placing (or loan facility) to fund wressle expansion so I doubt another 5% or 10% woudl make much difference |
Why would UJO want to buy into a declining field that is unlikely to be developed further and that UJO don't have sufficient funds now to develop even if Eggedon ever stopped their can kicking? Face facts law, UJO are going nowhere slowly, the USA wasn't transformational and it's now just another AIM lifestyle company. |
it's hard to determine how much cash we have, probably several million. meanwhile Europa is short of cash so could we see UJO buy some Wressle from Europa this year? |
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