Union Jack Oil Share Discussion Threads

[1347] 12/3/2024 12:27

Mark, that's standard if you hold US listed companies, so you don't get taxed as a yank.

[markfrankie] 12/3/2024 12:11

I remember one of my international shares ... I had to sign the 'w-BEN8' something like that... its a tax agreement between UK and usa/canada

[uggy100] 12/3/2024 11:36

I'm sure it's a good move, the chuckle brothers at RBD should take note.

[cashandcard] 12/3/2024 10:05

It's a good move. Further investment into an oil friendly jurisdiction and without the operating risk.The UK is just too slow and too expensive. Just not worth the effort under current fiscal regime.At some point the numbers will be known on this.Cash

[maxwell] 12/3/2024 09:51

Interesting read from Malcy’s:-

[1347] 12/3/2024 09:42

The ridiculous EPL only applies to UK assets, so not applicable to US assets. I'm not sure whether there will be any US tax on US income though. Other UK corporate taxes on UJO profit will be taxed as normal but trying to figure out exactly what those are is for the bean counters, they should know all the byzantine rules.

[likeawalrus] 12/3/2024 09:14

my track record on making predictions when it comes to UJO is iffy at best, but I'll stick my neck out and predict Elephant Oil will go under in H1 leaving UJO with a $127k write-off

[likeawalrus] 12/3/2024 09:07

hi mark, a couple of years ago I asked MA if Wressle revenue was distributed in GBP or USD, he confirmed GBP. hopefully DB has now asked for some or all of the revenue to be transferred in USD to fund his US purchases.
Regarding Royalties, I suspect UKGAAP treats Royalty income as investment income so would not be subject to windfall tax, just CT - any accountants out there?

[markfrankie] 12/3/2024 09:01

Sorry if it's a dum question/s; can the uk gov get their windfall claws into our USA income/if/when)
Are ujo to be paid in $ or £, have ujo set up a usa or other account

[likeawalrus] 12/3/2024 08:15

I'm pleased that DB is diversifying into the US market, my only criticism is that he boasted monthly income in an earlier RNS but we aren't getting monthly income data, early days perhaps.

[penciles2] 12/3/2024 08:12

I gather they beat BP to this deal, great move from DB

[karina] 12/3/2024 08:10

1347 If I offered you £100,000 today risk free

Or £5000 a month for 25 years Which would you take?

[talais] 12/3/2024 07:56

"The intent of the Company is to continue to build a quality portfolio of remunerative USA assets. The Royalties are held in perpetuity and the expected economic life of these assets is more than 26 years with a current Internal Rate of Return in excess of 20%."

[likeawalrus] 12/3/2024 07:33

1347, a while ago I came across a US auction site that auctions oil Royalty units for as little as $2'000, it seems that there's a buoyant market over there, even in small amounts - note that the RNS mentions dozens of wells but no mention of our percentage!

[1347] 12/3/2024 07:09

Someone answer me the key question. If these royalties are so attractive and provide a decent income in perpetuity then why would the operators flog them all for just $168,000?

"The total combined cash consideration for the Royalties was circa US$168,000"

[maxwell] 11/3/2024 15:58

124k shares sold today & with minimum buying hence MM’s bless ‘em have reduced the spread from 16/18 to 16/17 to try to encourage a few buyers!!!! to kindly take the shares they are holding……;…. Oh they are so generous?

[likeawalrus] 11/3/2024 08:45

Good news, without government red tape, nimby's and Egdon ; 'things get done'

[markfrankie] 11/3/2024 08:20

Good news, without government red tape and nimby's ; 'things get done'
Our country needs 'reform'

[atino] 11/3/2024 08:05

I guess the dangers of diversified ventures & projects like elephant & Reach…can only make the share price fall from 16…upon disappointing non-deliverance or on poor performance news ??

[cashandcard] 11/3/2024 07:57

Great news!Cracking on with operations out there.Hoping for a good first result. Cash

[ashleyjv] 10/3/2024 12:27

Union Jack Oil plc
@UnionJackOilplc
#ujo

Looking forward to updating the market on a spud date! This is an exciting start to our venture into the United States 💪

The Andrews-1 well has a high chance of success and if proven commercial could be in production within one month or sooner from spudding. Similar low-cost development wells nearby, typically produce initially at approximately 150 barrels of oil and over 200 thousand cubic feet of gas per day and can provide rapid pay-back within six months.

[1347] 08/3/2024 17:45

law, Do you have any more specific information on the EA permit, which permit and for what exactly? Note, they've not long had the variant issued for the main site permit: EPR/AB3609XX/V006 which was issued on 16/01/2024. What else do they need now, have you seen an application?

As for the pipeline, forget it, by the time they get that done they'll be no gas left to make the cost worthwhile. They should stick with just the gas to wire as I doubt a pipeline will ever get constructed.

As I've said a for a while now, just a JV of can kickers hood winking people. Same at Keddington etc.

[plasybryn] 08/3/2024 15:49

Is this the Co that DB said was in its strongest financial position ever? No one taking any notice as far as i can see. Are we due some news?