Union Jack Oil Share Discussion Threads

[likeawalrus] 27/3/2024 10:13

morning curry, tomorrow perhaps? I'm just happy that we finally have something happening for us in the UK...we still need an update on Kedd and Bisc, the nsta data for Jan will be out next week, hopefully my scepticism is unfounded

[currypasty] 27/3/2024 10:07

be nice if there was an official RNS update on that likea, including an update on where we are up too on Wressle.

Its no use putting lots of pictures out on twitter after their big meetings and site visit, but tell us nothing...

[likeawalrus] 27/3/2024 09:52

the consultation end date is 25.04.24, so maybe in front of the planning committee end of June? if I can find the NLC schedule for these meetings I will post it

[likeawalrus] 27/3/2024 09:06

Qui est Marie?

[thetoonarmy2] 27/3/2024 08:56

200/1 consolidation 3 leaked placings price more Than halved since consolidation, over 6 mill buybacks at double todays price that’s great and dead money now also Bacon energy great investment and Elephant oil
As you say MarkieUJO has done well considering:)
Oh and the points above are all current so don’t get me on to his historical actions

[likeawalrus] 27/3/2024 08:52

unfortunately as I predicted last month - notice for compulsory strike-off for Elephant Oil

[markfrankie] 27/3/2024 08:05

Aspect100 ignor them, they are stuck in the past with outdated gripes, the market as a whole is struggling, as you say ujo has done fine considering slooow uk, good luck

[aspect100] 27/3/2024 03:59

A bit harsh on the CEO.

Four years ago UJO was in debt,and having stock placings all the time.It's now profitable with a chance of more success in the US.

I think we should wait to see what Wressle is like before we judge this.

Although I think we should move out of the UK as much as we can.

[penciles2] 26/3/2024 17:02

If this is cheap why are they not filing there boots.i will tell you why because it’s a load of 💩

[maxwell] 26/3/2024 16:45

Hence why share price being marked down on little selling?? MM’s trying to panic investors into selling cheap!!!!!!!

[dan de lion] 26/3/2024 15:18

If the American assets come good then todays share price is in bargain territory!

[aspect100] 26/3/2024 15:04

I reckon the royalty income up to this point is about £200k.

I think the buy backs are a waste of money that could be used for more investment.

[cashandcard] 26/3/2024 08:50

Law,Regarding how long it will take to get into production (if successful)"Approximate ten-day drilling period to a depth of 5,200 feet· Completion time is swift; approximately eight days including perforating and flow-back if successful"Completion is quick, but hookup to sales may take a bit longer. I'm sure they've considered this.Cash

[cashandcard] 26/3/2024 08:34

Law,It does look too good to be true - but there is a mechanism to getting such a royalty. Buying off the original landowner who is being carried by the operator of the lease. It sounds like an overriding royalty interest. With cashflow bumps as new wells come online.Cash

[likeawalrus] 26/3/2024 08:22

Royalties Purchased to Date

· Cronus Unit, containing a 25 well package in the Permian Basin
· COG Operating LLC consisting of 15 wells in the Permian Basin
· Palm Springs Unit, containing 10 horizontal wells in the Permian Basin

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

· economic life of more than 26 years and a current IRR in excess of 20%

"...additional upside as new wells are completed and drilled on the properties at no cost to Union Jack."

juts had another look at the Royalties RNS - it's the last sentence I find interesting, it just seems too good to be true. will they fund the new wells from revenue in which case the 20% IRR is unrealistic?

[cashandcard] 26/3/2024 08:02

Law,That may be the case, but we also have to factor in royalty income for last couple of months. Although they won't be as robust as actual production - they will help fill gaps.The main item which we should hear more about soon is West Bowlegs drilling. Slated to start on or around 20th, 10day drilling window, should be nearing a result by April.Cash

[likeawalrus] 26/3/2024 08:02

they appear to be preparing for GTG at wressle - but no planning application submitted???

[penciles2] 25/3/2024 13:42

He’s certainly f—-ked up quite a few companies

[cashandcard] 25/3/2024 11:56

I'm wondering if at some point, they may consider Laterals for the Hunton limestone?Nowhere near as cheap, but give some serious production;"Gastar Exploration said that the Mid-Con 6H well in Hunton Limestone oil play, which the company holds 50% working interest, reached a peak 24-hour gross initial production rate of 1,442 barrels of oil equivalent (boe) per day.The well averaged 1,133 BOE per day, including 86% crude oil, in the last ten days.The well has been completed in the Hunton Limestone formation by using a 22-stage fracture stimulation at a lateral length of 4,200ft.Mid-Con 6H well horizontal well drilled in an area of mutual interest ("AMI") in Kingfisher county, Oklahoma"Cash