Union Jack Oil Share Discussion Threads

[markfrankie] 21/2/2024 11:51

uggy100 im confused, what do you mean take on some rathlin, (rathlin are at the mo a private company .....Or sorry if i have missed something?

[markfrankie] 21/2/2024 11:10

full of optimism is see victor :)

his smile told a story, fingers crossed.

[1347] 21/2/2024 11:01

Ther's certainly been some progress here, we've gone from:

"The future of Union Jack remains bright."

to:

"Poised for growth, big growth."

Can someone let Mr Market know, he seems to have missed it?

[likeawalrus] 21/2/2024 10:58

buying Ratlin shares (current or new issue) rather than increasing our JV is a very interesting idea, straight forward purchase with no additional capex. I have wondered why Rathlin hasn't IPO'ed on AIM to raise the £6m - not sure how easy/difficult that is?

[likeawalrus] 21/2/2024 10:48

"Will UJO bail out Rathlin?"

certainly not on their own, they dont have enough cash. UJO could participate to some extent but our 1/6 is already on the hook for at least £2.25m capex

[markfrankie] 21/2/2024 10:41

''poised for growth, big growth.''
"great expectations"

he did have a rye~smile at the end there.
come on ujo

[markfrankie] 21/2/2024 10:40

just watching it again now, thanks Archie

[archie222] 21/2/2024 10:21

Will UJO bail out Rathlin? db seemed to indicate at the end he had something in the works (and that he believed in the WN Project).

[markfrankie] 21/2/2024 09:34

Interesting regarding UJO touting RBD
It could be a very exciting time Will RBD bail out Rathlin? If so it's going to be very exciting regarding West Newton

[uggy100] 21/2/2024 08:39

We live in hope architecture!

[archie222] 21/2/2024 08:33

UJO touting the RBD shares magazine investor presentation next Tues on Twittex.

Why would they do that?

[markfrankie] 21/2/2024 08:07

WN: it's huge the goodies are there But can they drill without damage? They seem to think so now from the info they have gained from experts drilling similar fields and by using the soap drill mix at time of drilling horizontal, formation drilling has been the issue from drill 1 even before ujo got involved, Latest plan did seem encouraging to me

[cashandcard] 20/2/2024 14:40

CP,Agreed. It reminds me of I3E Liberator and Serenity fields in the North Sea. Lots of hot air about them, but the industry went into the dataroom and came out with no interest. It took them ages to drill an appraisal on serenity and only managed to bag that behemoth Europa oil and gas. Serenity step out was drilled and it failed to extend the field - the larger players who went into the dataroom were the Canary in the coalmine.Cash

[currypasty] 20/2/2024 14:19

If Rathlin cant get a JV partner / funder you have to wonder if the 'industry' is not as impressed as we have been led to beleive?

[1347] 20/2/2024 13:59

My take is they don't really want to drill the White Elephant West Newton because then the game's up.

[likeawalrus] 20/2/2024 11:51

Europa also has a presentation evening of the 27th - probably a coincidence

strangely Reabold's mcap is at least £2m below cash. it seems they have the cash to bailout Rathlin but either dont want to or are playing hardball for a really good deal. even if they announce a breakthrough next week, is 4 months enough time?

[currypasty] 20/2/2024 11:36

they have to say something soon, or we will get another takeover egm

[archie222] 20/2/2024 11:31

WN-

"Reabold could provide additional [doesn't say full or complete though] funding solution for Rathlin upon receipt of the second tranche of net proceeds from the sale of Victory" (28/4/23)

... was the plan @ one point - not sure how much Colle Santo expenditure has clipped its wings though.

maybe the knees up on the 27th will bring an announcement the day before?

[archie222] 20/2/2024 09:54

Well bisc seems to be in the throes of ongoing legal action at the mo so don't hold your breath there.

[likeawalrus] 20/2/2024 09:47

he said shareholders aren't happy because nothing is being drilled...well that's true but there's more to it that that. shareholders want to be kept informed of progress at our key assets - Kedd & bisc nothing! WN - just more waffle. I give up, nothing I say here will make a jot of difference, he will always blame it on the operators...

[currypasty] 20/2/2024 09:35

"he couldn't be happier"

check the shareprice ?