Union Jack Oil Share Discussion Threads

[currypasty] 04/1/2023 14:04

Personally I think it is reasonable to expect some costs on the Wressle equipment move , new equipment, the new bunded pad and now gas to electric generators.


Looking at the recent pictures and comments, Id put the gas to electric up and running before the end of the month. from various posters calculations, the gas utilisation could allow an increase in oil production from roughly 10% - 15%.


One negative, which may have helped the sell off from 33p to 27 is the Biscathorpe appeal. Some were expecting it before Xmas, but govt departments don't work very fast. I'm sure they have had at least 3 weeks off, and probably still 'working' from home. more like result end of month.


Its a shame todays news hasn't helped the price. I think its way too cheap, so have added another 100k yesterday and today... average about 26.75

[maxwell] 04/1/2023 10:37

With $oil price rising again should be quicker! to next $1mil although, in all probability Gas monetisation just might have hindered some production over year end?

Bisca now on 90 days so perhaps back to work & conclusion near being issued??

Buyback just a token & no useful effect! would be more beneficial to have had a second Divi planned when first announced! In my opinion…. At least the money planned would have
been appreciated more by shareholders…

Any other views??

[likeawalrus] 04/1/2023 10:17

upgrading Wressle is comparable to DIY - it always takes much monger than you expect

MA should have said "early Q1" instead of "end of year" for gas monetisation, unfortunately yet another time-frame has been missed hence the weak share price imo

[thetoonarmy2] 04/1/2023 10:12

That RNs having a great effect on the SharePrice

[likeawalrus] 04/1/2023 09:43

yes that's the £250k. interestingly OliviaOil on lse comes to a shortfall of £380k so not very different from my calculation, it's still a very nice cash position for a small oiler (and rather different to TW's ridiculous claims earlier this year)

[currypasty] 04/1/2023 09:39

some cash must have gone to Wressle upgrades?

[likeawalrus] 04/1/2023 09:35

11.11.22 over £10.8m
paid out: £903k divi, £213k buyback, £250k Wressle, salaries etc £100k (guess)
rev. $1m @ 1.22 + about $60k

=£10.2m which means my numbers are £300k adrift.

"As of 2 January 2023, cash balances, short- term receivables and liquid investments stood at over £9,910,598 "

Probably something I have missed but I am wondering if the accountant no longer considers the Royalty as a short-term receivable as it has accrued for over 6 years with no payments made, £300k would be about right.

[ldbart] 04/1/2023 08:51

Wressle-1 Gas Utilisation news first, I reckon

[currypasty] 04/1/2023 08:13

time for some decent buy backs now that rns is out of the way

[markfrankie] 03/1/2023 18:09

it also hit the equivalent to 54p in 2015..... and 89p in 2014

[markfrankie] 03/1/2023 16:30

digger' was also a mystery when it hit.... 64p in 2019 .... and 61p in 2020

[swiftnick] 03/1/2023 16:22

Who knows, maybe they wanted to maximise the cash in the year end balance sheet. Now that we're in the new financial year let's hope that the buybacks resume. At least until we're back over 30p.

[currypasty] 03/1/2023 16:10

no mystery, was pumped up, now forced down.. Someone making money, but not long term shareholders

the share buy backs were supposed to smooth this, but no one seems to know why non have happened for weeks

[digger2779] 03/1/2023 16:04

It's a bit grim. How this ever hit 50p recently is a bit of a mystery.

[1347] 03/1/2023 15:50

What's going on? More can kicking, it's what they do.

[currypasty] 03/1/2023 12:45

0.8p dividend, 5p off the shareprice

It hasn't attracted institutions


a handful of meaningless share buy backs, some at 33p, now we are at 28p ask and nothing... what's going on ?

[lageraemia] 03/1/2023 12:32

Depends if they took Boris Johnson's advice on energy saving and bought a new kettle or not.

If they did, then my calcuations could be miles off.

[likeawalrus] 03/1/2023 11:45

happy new year lager, have you factored in the kettle and the microwave!

[likeawalrus] 03/1/2023 11:29

it's now a full 6 years since the Royalty made a payment, I wonder how DB is progressing wrt an administrator???

[likeawalrus] 03/1/2023 11:12

good to see Wressle firmly in number 2 spot

[likeawalrus] 03/1/2023 10:30

lager, do you think it's likely/possible that EDR can power the site and export (up to) 175kw from the 3 mini-turbines? perhaps having researched power units they realised that there is no need for a big expensive gas-engine?