Union Jack Oil Share Discussion Threads

[thetoonarmy2] 23/2/2024 13:17

So Bramhill said in January that he will be only doing Wressle payments quarterly does that mean everything to do with Wressle is quarterly or will he give flow rates etc as they become available/ Or do we have to wait for the quarterly RNs?

[likeawalrus] 23/2/2024 13:10

RNS 19.12.23 "Prior to EA approval, production was constrained to delivering an average of 550 barrels of oil per day ("bopd") From 14 December 2023, the surface pump rate has been incrementally increased, resulting in a material uplift in oil production rates, with a gross average rate of 670 bopd since then, and 674 bopd recorded on 17 December 2023,..."

RNS 15.01.24 "Wressle-1 well gross production currently averaging a constrained 665 barrels of oil per day"

assuming we can believe the RNSs, there's no need for a guessimate, although does "gross" refer to oil & water or just oil? thx.

[greypanther2] 23/2/2024 13:00

Hi LAW. It's only my "guesstimate" as I don't have an inside track here. It was based on the NSTA's figures for November which came out in early February. For November I calculated an average of 458 bopd with a water cut of about 19%. On the assumption that the water cut is rising gradually with time, I've assumed that December's oil production will be in the 450 to 500 bopd range and the water cut 20% to 21%. That's not to say, however, that after a short shutdown of a day or two, we might see a few flush hours where the rate was close to 1,000 bopd. But this would be short lived IMO, and would be what Egdon have previously termed an "instantaneous" rate.

[penciles2] 22/2/2024 17:23

Greggs shows record sales at its ilfracombe branch,

[likeawalrus] 22/2/2024 14:20

I didnt know this Feb is a leap year! re 619bpd that is based on exactly what is in the RNSs of 19/12 and 15/01 so it should be accurate. why do you think 450-500 ???

[bionicdog] 22/2/2024 14:09

In his interview he suggested it was 625-750. Take it with a pinch of salt.

[greypanther2] 22/2/2024 13:56

LAW, The NSTA's production data usually comes out on the 1st of each month, so it might be next Friday, or maybe even Monday 4th. However, I think your suggested 619 bopd average for December is a bit optimistic. IMO it will still be around 450 to 500 bopd. All the best, GP

[likeawalrus] 22/2/2024 10:34

nsta data for December released next Thursday - based on RNS
my estimate is 13 days @ 550bpd and 18 days @ 670bpd so av. 619bpd

[markfrankie] 22/2/2024 10:34

Curry agreed. And maybe there will be a 'nonce anounce' :)

[markfrankie] 22/2/2024 10:32

One sure thing about the sea; the tide goes out but always comes back in, are we about to witness the tide finally turning

[currypasty] 22/2/2024 10:30

mcap £19m we all know that is too cheap !!

Just needs a catalyst, a turning point to change sentiment


will the pair of nonces announce a cunning plan to get West Newton drilling ?

[maxwell] 22/2/2024 10:26

I think almost everyone has considered averaging down but just not committing to further losses in my case!!

[currypasty] 22/2/2024 10:04

they do seem to be cranking the PR up, following the change in tac to non UK projects

Is sentiment about to change ?

i might even get a 50 top up (no, i mean average down)

[likeawalrus] 22/2/2024 10:02

mark we may find out on Tuesday

[markfrankie] 22/2/2024 10:00

Pinched from maxwell; West Newton: There’s little point going back over previous operational failures here, lessons were learned, it is the future that is now important and success in this prospect will likely change the outlook for all concerned....................................
Yep...
now they understand the formation And what to drill it with.
This Rabbit may be big and fat to pull from the hat, but could be amazing.
Could WN actually gets some action this year??

[bionicdog] 22/2/2024 09:56

Reminds me of California Joe.

[maxwell] 22/2/2024 09:45

Paul Robert’s has set up an interesting ujo attachment keeping recent notes to follow

“

[currypasty] 22/2/2024 08:45

Union Jack Oil plc
@UnionJackOilplc
·
1h
#UJO #TMSreach
Many thanks to Total Market Solutions for choosing Union Jack as their 'Company of the Week'

[likeawalrus] 21/2/2024 12:07

cash I agree, I dont want DB to participate further in any way but if they do an equity stake may be a better option. let's see what they announce on tuesday in advance of the Q&A evening

[cashandcard] 21/2/2024 12:02

Likeawalrus,Interesting idea, but I would prefer they don't go down this path. The US is the only place offering bang for buck. More money into a struggling project/operator is really high risk. In fact it's worse, as RBD still the largest holders of Rathlin they will dictate the way forwards.We are already hostage to them, I don't see the point in upping the exposure in that respect.Cash

[markfrankie] 21/2/2024 11:54

true true bionic

[bionicdog] 21/2/2024 11:53

RBD bought part of them.