Union Jack Oil Share Discussion Threads

[lageraemia] 08/9/2022 11:04

Boom - end of fracking moratorium......

[likeawalrus] 08/9/2022 11:03

GP pointed out that I have misunderstood the cost of subscribing for more EDR shares. Each of the 8m subscription shares allows UJO to buy half an EDR share at the equivalent price of 2.5p per share (not 5p as I thought), so the agreement appears to allow UJO to buy 4m shares at 2.5p, which gives a theoretical profit of 6.3p per share as at today...awesome!

[lageraemia] 08/9/2022 10:58

Cheers GP!

[likeawalrus] 08/9/2022 10:51

"new licensing round" of about 100 new licenses

[greypanther2] 08/9/2022 10:37

Hilageraemia. You asked about Duke's Woog. I'm sorry to be a wet blanket on geological grounds, but fracking probably won't be feasible there. This is because many of the old East Midlands oilfields don't have any Bowland Shale section since the Westphalian Coal Measures sit directly on top of the Dinantian limestones. So the Bowland Shales were frequently stripped off before the Coal Measures were deposited. Mind you, the shales might still be preserved in the synclinal areas nearby.

[likeawalrus] 08/9/2022 10:30

according to the 2021 report, UJo has the right to subscribe to 4m EDR shares at 2.5p each which would give a paper profit of over £240k today plus of course the circa £1m profit since 31.1.21 on the 13m shares held.

I would be grateful if someone would confirm my understanding and my calculations

The Company is the beneficial owner of 13,000,000 (2020: 5,000,000) ordinary shares in Egdon Resources plc (“Egdon”), a company registered in England and Wales, which represents a 2.52% (2020: 1.52%) interest in that company at year end.
Payment for the 8,000,000 new shares acquired was by means of a subscription at a price of 1.25 pence per Subscription Share, for total consideration of £100,000. In addition each Subscription Share was granted a right to subscribe for 0.5 of a new Ordinary Share at a price of 2.5 pence per share, exercisable at any time until the date of the second anniversary of their issue. The principal activity of Egdon is the production and exploration of hydrocarbons onshore UK. The investment in Egdon was revalued at the year end to the value of £188,500 (1.45 pence per share)

[likeawalrus] 08/9/2022 10:16

hopefully the PM will intervene to green-light more onshore O&G planning applications and expedite overturning (arguably) unreasonable decisions by local councils such as Biscathorpe.

[currypasty] 08/9/2022 10:06

RNS don't panic it's only a




RNS Number : 7862Y

Union Jack Oil PLC

08 September 2022

Price Monitoring Extension




they can't get enough shares ...lol

[currypasty] 08/9/2022 10:02

market cap now over 50 million..

Time for small cap tracker funds to start buying, as per their edict

[monet] 08/9/2022 09:52

Egdon up 24% now to 9.3 how much it that worth to UJO now?

[maxwell] 08/9/2022 09:31

Biggest ever Volume today traded

[likeawalrus] 08/9/2022 08:43

very happy!
...and we haven't even had the Wressle Report or the WN CPR or the dividend policy

[fastballfifty1] 08/9/2022 08:38

Just happy !

[monet] 08/9/2022 08:34

Every pull back gets bought into, it keeps going higher and higher. Those people what sold hoping to buy in cheaper will be kicking yourselves now..

[bionicdog] 08/9/2022 08:25

CJ will be coming back at this rate.

[maxwell] 08/9/2022 08:07

Comments from Shore Capitol about results yesterday :-

[likeawalrus] 08/9/2022 08:05

according to SKy the PM will start her energy statement around 11:30

[fastballfifty1] 08/9/2022 08:03

This is very pleasing to watch after all theee years

[maxwell] 08/9/2022 08:02

Spread down to 47.5/48p

[lageraemia] 08/9/2022 07:57

Speaking of 'legacy projects'.....how about Duke's Wood?

They are planning to repurpose as a geothermal well in the future because the anomolous geothermal gradient there. That gradient will also likely mature any underlying shale at shallower depth too possibly and make it gas prone?

You could have a combined geothermal and gas project in Sherwood Forest. I always said Nottingham is like Houston.

[lageraemia] 08/9/2022 07:52

There can't be THAT many onshore shale cores in the BGS library.

There also the vague possibility that the current suspended wells at WN could be used for another trip down to the shale I guess.

Not a reason to buy the shares right now though, but its an area of business current valued at £0 on the balance sheet.

[currypasty] 08/9/2022 07:50

GP I bet lots of little oilers are scratching their heads and digging out old 'legacy' projects to see how they will stack up if fracking given the go ahead.

[lageraemia] 08/9/2022 07:45

I've now got a nose bleed. This is an unfamiliar altitude we're flying at.

[greypanther2] 08/9/2022 07:45

I'm wondering if the lifting of the fracking ban will help us at WN. We apparently have a porous and fractured reservoir in the Zechstein but it doesn't seem very permeable, so far. So maybe fracking could help if it can be made to work here. There's also the deeper Bowland Shale potential, as seen in the Crawberry Hill and WN A-1 wells where it was cored but not tested. This could now be worth a look, even though previously it didn't seem to have much value in the absence of fracking.