Union Jack Oil Share Discussion Threads

[likeawalrus] 18/1/2024 11:45

I'm surprised ujo hasn't appointed a new auditor, almost 3 months now

[likeawalrus] 18/1/2024 10:06

yes should be received in the next few days so cash balance s/b about £10m-£11m
Let's hope they very quickly announce a funding solution for Rathlin, only 5 months left on the WN permission. an announcement should be very good for ujo's sp, especially if Egdon give us positive news on Kedd & Wressle. meanwhile RBD's share price has some significant upside imo

[bionicdog] 18/1/2024 09:58

The Shell payment.

[bionicdog] 18/1/2024 09:28

All done at RBD now.

[likeawalrus] 17/1/2024 15:02

nice recovery by RBD share price today, from 12% down to 5% up

[likeawalrus] 17/1/2024 12:03

bionic, I think most RBD shareholders are in a deep depression or in denial, perhaps this news will supercharge the sp?

[bionicdog] 17/1/2024 11:53

The RBD share price doesn't seem to think so.

[likeawalrus] 17/1/2024 11:23

West Newton back in play???



according to a document published this morning, Victory was granted OGA permission on 10.11.23 which means Shell will pay Reabold the final £4m - this gives Reabold sufficient capital to bail our Rathlin

Hopefully someone will check that I am not misunderstanding today's documents

[likeawalrus] 17/1/2024 09:50

as at 31.12.23
UJO 19.75 mcap £21m
EOG 1.2 mcap £11.5m
RBD 0.1075 mcap £11m
BCE 0.0975 mcap £13m

all have potential for significant upside this year, I suspect rbd will be the most volatile therefore offering the best trading opportunities, whereas I think Bacon will do best this year. UJO should trade higher if Kedd is successful and could spike if WN comes into play...oh for a crystal ball

[maxwell] 16/1/2024 20:25

Copied & pasted from X

[greypanther2] 16/1/2024 16:05

To be honest 1347, I'd rather have predictable quarterly earnings statements which are released in between the interim and annual results. They should be more predictable in their timing, and will presumably come out a bit earlier than the interims and annual results.

[1347] 16/1/2024 15:19

Ah yes GP you are correct, I'd overlooked that comment that was slipped in. It means we'll be even more in the dark, which is probably the intention.

[greypanther2] 16/1/2024 14:54

Hi 1347. We may not see a $19 million earnings RNS because in yesterdays' RNS David Bramhill is quoted as saying "Going forward, future production and revenue updates from Wressle will be reported on a quarterly basis". I take this to mean the next RNS earnings RNS will not be until early April if they stick to a quarterly schedule.

[1347] 16/1/2024 13:08

wba because August must include the oil that contributed to the $1 million revenue between 3rd August ($17m) and 15th January ($18m). Water cut in July was 4.0% and in August 7.9%.

The only thing I don't know is what the average BOPD and BWPD currently is, other than what they claim it is for the oil, i.e. 665 BOPD. This can only be better gauged when we get the $19 m landmark. If it's 665 BOPD, as they claim, then that will be about the 1st week in March (depending on $Brent, but we'll see if it's earlier or later than that. We'll also get two more OGA months of data by then.

[wba1] 16/1/2024 12:09

1347; if the latest RNS (665 bopd)reflects a stabilised production which can be expected into the medium term (2024) then it seems to be at a similar level to pre-pump and before the drop off when water appeared. That would be an ok result, albeit not outstanding. It is unclear what the BWPD are doing other than that they appeared in June. We do not have the data to identify any rate of increase or otherwise, although it would be surprising if it does not increase over time. It should be clearer when we have a few months data, say from November to end Q1 2024. I must admit to having great difficulty understanding how you factored August when your last post cited 28 days of August production post the $16m and added that in to get 98 days.

However, we agree about the disturbing lack of action on other fields

[1347] 16/1/2024 06:42

wba It is not an error, I know the production for every month for Wressle that has been published so far, including August 2023, and that has been factored in and I am very confident in my figures and analysis. You may work on whatever assumptions you like, but I use actual data.

We will have to see when the OGA (I refuse to use this stupid new term) release the data for the periods since production resumed, i.e. November, December and January, it may be that there has been some recent improvement in flow rates but it remains to be seen what they are over time. Whatever that is, the fact remains, BOPD is down and BWPD is up and there is no planning application yet submitted for further drills to offset the decline.

[wba1] 15/1/2024 22:42

1347; August production was no more than a third of normal monthly levels according to government data, and some of that would be from the period prior to the $16m announcement. And with the Monday announcement and combination with the anticipated stabilised flow rate announcement it is overwhelmingly probable that the $17m was passed some days earlier and held for the combined RNS. I have also probably been generous with the assumed $77/barrel since the increase after the EA permit was into a period of reduced prices relative to November. All of this was behind my broader assumptions and I stand by them. It seems odd for an investor to make an error such as that for the August numbers when it is so easily found.

[atino] 15/1/2024 20:12

TBH…the pair of you’s (and your investments)…ain’t done nothing special, let alone me see anything spectacular 🙄🤦‍♂️🤦‍a94;️🤦‍♂ᥧ9; so on my jack jones it is then 😤 besides…copying & paying “social traders or trades”…ain’t my style 😜

[atino] 15/1/2024 19:09

Your done m8…never been interested in neither you, nor the cursed & jinx Currypaste. And what yous have to offer in any of yours posts - seen enough to last me a GOOD FEW YEARS ! 🤦‍a94;️🤦‍♂ᥧ9;🤦‍♂️㊃8;‍♂A039;

[bionicdog] 15/1/2024 19:03

That's me. Keep to the subject in hand. To be honest you're lucky to be on here at all with your history. Having said that , some of your recent posts have actually been about UJO!

[atino] 15/1/2024 19:00

“Do it for you” 💭 …do what exactly ?? 🤦‍a94;️🤦‍♂ᥧ9;🤦‍♂️㈺0; (…addresss when spoken to please-)

Otherwise, it’s seems your picking & being nothing but a shameless bully 🤦‍a94;️ ! 🖕🏻

[1347] 15/1/2024 18:20

Flawed. There are 28 days between the 3rd August 2023 $17 m revenue landmark RNS and 31st August 2023 RNS when they said operations commenced to install the downhole pump. There were then 68 days between production resuming on 8th November 2023 and todays RNS.

That is 96 days total when there should have been production. The only time they said it wasn't producing was from 31st August to 8th November 2023. So the only way you would get to 70 days production would be if you had another 26 days lost production that they didn't tell market about. As far as I'm concerned the average was more like 450 BOPD.