Union Jack Oil Share Discussion Threads

[markfrankie] 06/1/2023 14:10

Do we :-))

[maxwell] 06/1/2023 13:59

Don’t forget Bisc’ decision imminent & share price will move in a definite direction very quickly as we all expect a positive outcome!!!! Obviously.

[karina] 06/1/2023 13:43

I have no idea what the strategy is to be honest with you. I thought UJO would buy back more before the updated flow rates at Wressle are issued Only leaves 3 weeks tops I would say.

[currypasty] 06/1/2023 13:22

thanks K, so we can buy back 11.3 million, yet we have only bought 800k, and we have about £10m in the bank....

we have more shares in Egdon than our own. Shouldnt the priority be ujo shareholders ?

[karina] 06/1/2023 13:18

This resolution authorises the board to make market
purchases of up to 11,271,589 ordinary shares
(representing approximately 10% of the Company's issued
ordinary shares as at the date of this AGM notice).

[thetoonarmy2] 06/1/2023 13:04

Bionic give him time

[bionicdog] 06/1/2023 13:02

At least he didn't manage to drive it down this time.

[wba1] 06/1/2023 13:02

gerihatrick; if you do not understand the difference between discussion of political issues affecting oil and gas, and pushing the political interests of an irrelevance in UK politics then you should not be investing. A discussion of the Truss fracking policy at the time she was PM made sense. A discussion of Tice's views when he is a fringe player without influence is simply moving this board into the realms of twitter and the LSE board. If that is what people want I have no problem, but will happily move elsewhere - as I did when similar issues arose on the Aviva board. As a holder for years I am always interested in information and views but have no time for irrelevance. I have noticed the migration of some LSE and twitter UJO posters onto this board and have had some concerns but hopefully the worst offenders will remain where they are.

[guesswhosback2] 06/1/2023 09:49

Very exciting times Curry. Should see some good numbers from the data.

[currypasty] 06/1/2023 09:30

Sorry, I should have said that the pictures were official ones from the operator EDR



Egdon Resources plc
@EgdonResources
·
40m
Introducing “Elli”, “Steffi” and “Olga” the three new Capstone C65 Microturbines installed on site at Wressle with hook up and commissioning ongoing and expected to be complete later in January. #EDR

[karina] 06/1/2023 08:47

hTTps://twitter.com/unionjackoilplc/status/1611280324935172097?s=46&t=K2osZHetant-W0VKpRxAxgNice photo

[likeawalrus] 06/1/2023 08:32

no mention of Keddington which should be a more likely candidate for a side-track than Bisc, surprised they even mentioned NK.



Union Jack Oil plc (LON:UJO) is the topic of conversation when DirectorsTalk caught up with Arden Partners Analyst Daniel Slater.

Union Jack recently released an update on revenues from its Wressle field, what were the key points investors should note?

Wressle continues to be a very successful asset for Union Jack, driving significant production growth for the company at a time of high oil prices. This has materially augmented the company’s cash holding, giving significant optionality for funding forward work programmes, while also allowing a return of cash to shareholders in late 2022. Alongside existing production, focus is now on increasing gas infrastructure to allow higher production levels, alongside development of additional reservoir horizons further out.

What has been happening operationally?

The current operational focus at Wressle is on installation of power generation infrastructure, initially for power supply to the project itself, but latterly for local export. Using the produced gas in this way is expected allow higher oil production, both from the existing well but also, potentially, from development of new horizons going forward. This should present an opportunity to recycle Wressle cash flows into further development of the asset, while also helping support or, potentially, grow production rates.

How do you see the outlook for Union Jack?

Going forward, we expect the ongoing Wressle power generation works to continue this year, with the potential for confirmation of development of new reservoir levels in due course. More widely, there is a new horizontal well planned on West Newton (which will be very important in potentially establishing commercial flow rates from this asset), alongside potential drilling on Biscathorpe and North Kelsey. All of this is supported by the Wressle cash flows, and makes for a busy work programme ahead.

[gerihatrick] 06/1/2023 07:48

Currypasty comment is completely relevant to oil and gas investment in the UK. Also relevant is CGT allowances and dividend allowances. In the wider context again the decision of central banks increasing interest rates also affect the stock market. I have invested part of my pension pot in UK oil and gas companies as a result of political decisions plus the Ukraine war. By importing LNG from overseas we increase our carbon emissions 8 fold and this is another political influence on my decision making...and I may be wrong on all counts.Time will tell.

[dan de lion] 06/1/2023 06:26

The time per $1 million dollars, follows the gas price without taking into account time outs!

[currypasty] 05/1/2023 19:42

Whoever runs the Country has a very real and large effect on the value of my oil and gas investments and so is very relevant. We have already seen the impact of the fracking reprieve then reinstatement on small oilers. EDR went over 10p on that then back to under 3p. The windfall tax is going to hurt, even if its mainly offset by capex. To think that politics has nothing to do with AIM oilers is avoiding ther elephant in the room.

I wasnt pushing that party, merly pointing out that there are alternatives to current parties full blow attempt at destroying home grown energy.

However, ill call that it, and not mention again, if it upsets you so much

[wba1] 05/1/2023 18:33

I thought this board was for discussing our investments and the companies rather than pushing the political aspirations of someone who is irrelevant both to the board topic and government policies. Perhaps we can all resist pushing our political views and stick to relevant matters as I am sure we do not want to sink to the level of twitter or the LSE board. Hopefully there will be more to discuss with further announcements in the near future.

[markfrankie] 05/1/2023 17:33

In response to currypasty,Mr Tice outlines his views on this long but great video, regarding the uk producing its own energy ... 10 mins or so in..



A straight talker... probably not for the woke brigade though?

[wba1] 05/1/2023 17:28

ldbart; thanks for the info. I had wondered if they had also added further bunded storage tanks if the production is to be increased.

[likeawalrus] 05/1/2023 17:18

RNS 14.11.22 $11m
· Unaudited revenues from 1 January 2022 to date are in-excess of £7,900,000 (Audited 2021: £1,894,875)

RNS 04.01.23 $12m
· Unaudited revenues from 1 January 2022 to 30 December 2022 are in-excess of
£8,400,000 (Audited 2021: £1,894,875)

I'm a little confused by theses RNS statements. £500k increase in revenue when USD revenue increased by about $900k to 30.12 (not including Kedd revenue). $900k should be about £750k not £500k, what am I missing?

[ldbart] 05/1/2023 17:12

New pad for the separator and moving the separator.

[currypasty] 05/1/2023 16:59

@reformparty_uk
back fracking and coal mining in the UK as well as increasing North Sea oil and gas production, as @TiceRichard
set out his party’s vision in a New Year's press conference.