Union Jack Oil Share Discussion Threads

[markfrankie] 26/1/2023 18:02

that's interesting GP
so instead of my 1.5km (1500m) it could be quite a bit more

[archie222] 26/1/2023 17:55

Yes, cPR 2022 in Table 3-17 (p29)

11.6m gbp (@ June 22 prices)

RBD & UJO £3.87m each

Rath £7.73m

[greypanther2] 26/1/2023 17:21

cost of $19 million(Canadian)is mentioned in one of RBD's documents - possibly in the latest CPR - as the expected cost of the forthcoming horizontal well. The current exchange rate is $Cdn 1.65 to £1, or about about £11.5 million in Sterling terms. I think that it will be a completely new well, not a side-track, which will possibly be drilled from a spare well cellar at the B site An old illustration on Reabold's website suggests that the horizontal section could be as much as 2.5km, and there will probably be testing of a lot of individual zones. So, while £11.5 million might seem very expensive, it shouldn't be a huge surprise.

[markfrankie] 26/1/2023 16:23

yep, a small horizontal or side track could cost 2mil
this one is going to be 'i think' 1500m so pretty long

[oilymanron] 26/1/2023 13:24

I had to do some work, Karina! I did a bit of my own research on well costs and the 12million quoted seems to be a bit on the high side. 5-10million would be a better estimate (depending on vertical vs horizontal well). and I think the gas is being targetted because oil developments are not as easy to get approved by the NSTA (govermnent body doing the approvals). But I do agree it would be good if some announcement was forthcoming regarding actually drilling a well.

[guesswhosback2] 25/1/2023 22:13

Agreed curry. MM need to move the price around to generate business. 50k not a lot of money to spend. Good news will make a good difference. No traders to hold it back.

[currypasty] 25/1/2023 21:36

50k late trade.. could be company buy

id expect the sellers, stragglers, non believers to have pretty much cleared off. Traders probably cleared off ages ago, as there is nothing to trade

[ashleyjv] 25/1/2023 10:23

I've just Red ticked you to make you feel better

[currypasty] 25/1/2023 09:57

I only ever get one red tick, I must try harder.. Its not fair!


Im pleased to see a 200k buy from the Company. It may not seem to be doing much good at the moment, but it is taking slack out of the system and when things turn we should get ahead far more quickly. Older punters may remember serica and Encore bumping around the bottom, then took off with great gusto!

[guesswhosback2] 25/1/2023 07:49

A TW combined sell? Surely at a loss, seems pointless to me but I don't doubt stupidity ever.
I like the guy who sits marking every post down, probably giggling to himself each time....

[currypasty] 24/1/2023 19:43

I hope so, get a pile in treasury before sentiment returns to the sector

[ldbart] 24/1/2023 18:07

I'd say 250K purchased by UJO today.

[markfrankie] 24/1/2023 14:12

This is when the sbb comes into its own When the TW clan act as one and sell, db's man does a sbb buy

[likeawalrus] 24/1/2023 11:40

I dont think Bisc / WN / Keddington success or failure is priced in at the moment, in my opinion the market is valuing ujo as a small producer rather than an explorer with promising pedls. the share price was higher before wressle when it was just promises of unicorns & rainbows. once we have a new production number for Wressle (courtesy of the C65s) I expect a re-rate, then with a positive Bisc decision we'll be back to being a production AND speculative play, throw in a WN side-track in H2 and we could see the share price surge like we did in September

[guesswhosback2] 24/1/2023 10:42

Probably keeping their powder dry for the Biscathorpe decision. I am.

[currypasty] 24/1/2023 09:53

no buy backs basically sends the signal that the Company doesn't really think we are undervalued

[likeawalrus] 24/1/2023 09:45

I guess it depends on how the buy-back is conducted. if UJO has given a one-off instruction to the broker to buy X shares at X price between now and X date then logically the timing is at the broker's discretion and is unaffected by Directors being in a closed period. However, if DB is phoning the broker on an ad hoc basis saying buying X shares today/this week then I can see how a closed period would stop the buy back.

[monet] 24/1/2023 09:37

I don't buy into this can't buy shares in closed period, Look at AssetCo PLC (ASTO)they have been buying shares back since September, through trading update, directors shares dealing. Nearly every day they have been buying back shares. If Assetco can do it why can't UJO?

[karina] 24/1/2023 09:37

oh no 2 red ticks

Anyone seen that Oilyman Ron?

[karina] 24/1/2023 09:09

If the turbines are up and running and the oil flow is being "played with" could we be in a closed period ?