Union Jack Oil Share Discussion Threads

[likeawalrus] 24/1/2023 08:48

I cant see any logic to the way the buy-back has been conducted, bought at 33p but not much at 27/28, someone did say that trading volume is a factor, daily volumes have been on the low side so perhaps they are right and the broker has to wait for busy days?

[32campomar] 24/1/2023 08:42

Have they given up on the share buy back scheme ?

[markfrankie] 24/1/2023 08:27

WN is a 'vast' Gas play, now with a revised down hole plan of action that has been viewed and proposed by experts in their field,
the gas is there and now with the proposed oil mix cut at the depths hopefully there will be success

[1347] 23/1/2023 20:47

Especially so since they 'temporarily' paused the testing back in August 2019 (yes over 3 years ago now!) because of the liquids, even getting planning permission to store it. WN JV consists of of a bunch of clueless can kickers riding the gravy train in my view, useful only for trading the hype if you are in the 'loop'...

[uggy100] 23/1/2023 19:20

ldb, I agree although I'm mightily unhappy that the oil column is no longer in the plan.

[ldbart] 23/1/2023 19:06

WN-B2 was always planned as the production well in the diagrams. It is a deviated horizontal well to give (up to) 10 times the flow rate. Now this was for oil, anticipating that the oil would be difficult to flow. They have since chosen to pursue the vast amounts of gas and light condensate instead, so perhaps the plan has changed. My point is until we hear a revised plan, I think we should assume a deviated horizontal well from WN-B2. I've posted about this on Twitter a few times in the past (search for "WN-B2 horizontal").

[uggy100] 23/1/2023 11:54

RBD's plan is clearly to milk as much as they can in remunerations & to hell with everyone else.

[1347] 23/1/2023 10:28

Plan? They have a Plan?

[currypasty] 23/1/2023 10:20

seems pretty pathetic that 4 months after that statement we are still in the dark as to what the plan actually is.

[greypanther2] 23/1/2023 10:08

Hi LAW. I still don't think it will be a side-track to an existing well. I reckon it will be an additional well from either the A or B site, as in UJO's 23 Sept '22 RNS which was based on Rathlin's Community Liason Group Update. It included the following text "Rathlin's and our partners' technical teams are currently working to determine the optimum orientation for a horizontal well, which may be drilled from either the A or B sites".

[likeawalrus] 23/1/2023 09:36

Rns 17.01.23
. Three microturbines have been delivered to site and installation and commissioning is ongoing

· The microturbines will generate all site electricity and are expected to enable up to a 20% uplift in oil production

[uggy100] 23/1/2023 09:20

Don't we need confirmation that the turpines are up & running first ?

[likeawalrus] 23/1/2023 08:49

hopefully just a week or two before Egdon confirm the new production rate courtesy of the C65's

[markfrankie] 23/1/2023 08:19

Ujo still at 0.14p in old money (before the consolidation) = very cheap

[uggy100] 22/1/2023 14:08

Question is LAW when in 2023 will RBD receive the last tranche of the funds. Until such time I don't know that Rathlin/RBD have the money for the horizontal. RBD are always tight lipped to say the least.

[likeawalrus] 22/1/2023 13:08

rbd could be in fairly good shape cash-wise, at the very least they should have more than enough cash for the side-track. I sold my rbd shares in Q4, just waiting for the right moment to dip back in...but not in a big way

RNS 01.11.22 - 'Corallian expects that payment of the initial gross consideration of £10 million (c. £3.2 million net to Reabold) will be made to Corallian shareholders (including Reabold) over the coming days. Furthermore, the balance of the total consideration, £22 million (c. £9.5 million net to Reabold), is expected to be made in 2023 as outlined in the announcement of 14 September 2022.'

[lageraemia] 22/1/2023 12:43

UJO has enough cash in the bank to fund 16.66% of a £50m well! During the drilling of the well, UJO will also have earned another £1m from sales too.

Its all about RBD to be honest - when odes their cash clear from the sale of Corallian?

[likeawalrus] 22/1/2023 11:16

yes I noted that too but this is Rathlin & Reabold we are talking about, a side-track and 1500m of pipe. It would be wonderful if they can do it for £2m but does anyone honestly believe that they will? Rathlin's bound to fudge it up in some way so my guess is at least £4m

PS it would be interesting to know how much UJO has allocated for WN capex this year

[archie222] 22/1/2023 10:23

"a small side track costs a couple of million" db @ 6.49 tms

[likeawalrus] 22/1/2023 10:02

whilst the RNS doesn't specifically say it will be a side-track from an existing well, it certainly implies it. £12m for 1500m of pipe and a side-track seems on the high side, perhaps half that? so maybe £1m each for UJO & RBD and £4m for Rathlin

[1347] 21/1/2023 19:22

I've posted this once! Read the 23rd September 2022 RNS. If there is any information that supercedes that then please reference it, otherwise it's just noise.