Union Jack Oil Share Discussion Threads

[bionicdog] 30/1/2024 12:39

He is a very busy man. You can't expect him to bother himself with stuff like that.

[likeawalrus] 30/1/2024 12:23

RNS 27.09.23 - Plans for the proposed horizontal well from the West Newton B site are underway and commencement of operations is targeted for H1 2024.

Well path selection and the engineered design have been completed, wellbore casing has been purchased and the Operator, Rathlin Energy (UK) Limited, has approached drilling rig and other key service contractors to determine their availability.

...we deserve an update on West Newton from Bramhill - nothing since September when the EA permit was updated. only 5 months left before permission expires. If he doesnt know what's going on, he should find out and inform shareholders, after all, wasnt WN promised again and again as "transformational" and the biggest onshore find since the 1970s???

[likeawalrus] 30/1/2024 08:48

Elephant Oil 'confirmation statement' overdue - annual accounts due no later than tomorrow. Short of a miracle (the long promised IPO), DB should write-off the investment in the 2023 accounts imo

[currypasty] 30/1/2024 08:36

Due diligence, including a site visit, has been undertaken by
@UnionJackOilplc
with respect to certain oil and gas investment opportunities that have received the approval of the #UJO technical team. Terms are being finalised with Reach and when complete will allow the execution of Joint Venture agreements in respect of at least two material drilling programmes in Oklahoma 🇺🇸 where the first well is planned for early Q2 2024.

[likeawalrus] 29/1/2024 17:29

by the time the Royalty was sold it had accrued for over 6 years without paying out - quite shocking. DB has said monthly payouts this time, if he's sensible he will make monthly announcements (X is fine imo), even if it's just $14k pm I'm confident the market will react favourably

[likeawalrus] 29/1/2024 13:58

this looks interesting, I'll post if I find any info on our purchases

[likeawalrus] 29/1/2024 13:53

the problem with the statement "10% of consideration earned since December 2023" is it's easy to assume the Royalties have increased in value by 10% in 1 month, however the previous Royalty was a masterclass in smoke & mirrors, for example, it came with a massive accrual which we were eventually told was because it hadnt paid out for over 5 years! (and that was only after DB tried to buy another 25% and failed)

so, it could be that the Royalties were bought with a 10% accrual as yet unpaid. Hopefully DB will announce the payments each time they arrive - supposedly monthly
(Trident does this)

I guess the payments will be USD, hopefully DB will allow them to accumulate for future $ deals.

[penciles2] 29/1/2024 11:45

I bet it’s first class travel to USA,remember stuff that looks to good to be true

[likeawalrus] 29/1/2024 10:41

a long time ago I emailed MA or DB (cant remember who) regarding the distribution of Wressle monies, he confirmed that Egdon pays UJO and EOG in Sterling, not USD.
Assuming Egdon is paid in USD, perhaps Bramhill should insist of payment in USD too?

[likeawalrus] 29/1/2024 10:28

obviously I was wrong about Bramhill being on safari, he's been in Texas...

The total cash consideration for the Royalties was US$854,070 (£677,235)

The Royalties are estimated to have an economic life of more than 26 years and a current Internal Rate of Return in excess of 20%

Monthly income with no development or operating costs

...that's an income of $14'000 per month, we shall see

[maxwell] 29/1/2024 09:41

Slow — so far as only 13 trades & 38k buy & 17k sell totals hence no definite must have like???

[monet] 29/1/2024 09:26

UK oil and gas companies gets tax too much now (it will only get worse when labour gets in). Time to look elsewhere which DB is doing.

[talkman2] 29/1/2024 09:14

Sorry , scattergun

[talkman2] 29/1/2024 09:13

Spot on . Seems a scattershot approach . No focus

[1347] 29/1/2024 08:53

Royalties may or may not be a good deal, we'll have to see, but I didn't invest in UJO for Royalties, I invested because they were going to grow their UK onshore assets, but all they are doing is kicking cans. Waiting over three years for a fairly simple side track at Keddington for which they've had permissions for ages. Now they are spinning around with opportunistic deals, in Germany and the USA etc. I see no clear strategy here and the share price is well below what it was three years ago.

[karina] 29/1/2024 08:46

10% return in a month is decent start....

[talkman2] 29/1/2024 08:39

Could this UJO move into the US be as successful as Bramhill’s previous US adventures ( Nighthawk and Osceola )! With the Beacon investment seems we are going all over the place . What’s happened to West Newton ?

[greypanther2] 29/1/2024 08:32

Wressle production has done pretty well for us lately, but I’m still very pleased to see UJO taking another small step abroad. Some shareholders might feel that US based royalties are an unusual asset in which to invest. However, in support of the latest move, I’d say that we did very well financially from the earlier acquisition and last year’s sale of the Claymore royalty, and also that we have found a competent, reliable partner in Reach O&G and Miles Newman. From my personal experience I know that Miles has done very well for his UK investors in Reach. We also have an excellent operator in the USA in Jim McKenny, who clearly knows the game there. I also like the fact that this opening gambit should lead to other joint venture drilling opportunities in Oklahoma where drilling success ratios have been excellent lately.

[currypasty] 29/1/2024 08:05

""We have distributed approximately £3,000,000 via dividend payments and share buy-backs in just 15 months, and the intent is to continue share buy-backs and dividend payment programme as and when appropriate."


I wonder if shareprice on its knees is 'appropriate'?

[penciles2] 29/1/2024 07:57

Exon shares will be sharply higher this morning

[karina] 29/1/2024 07:49

"Our team in Oklahoma City is also working on a number of near-term drilling projects which will lead to the expansion of our collaboration with Union Jack in the coming weeks."

[karina] 29/1/2024 07:41

Union Jack is entering into a new, exciting stage of its development and looking forward to a rich period of news-flow for shareholders and investors.More news to come