Union Jack Oil Share Discussion Threads

[maxwell] 09/4/2024 09:54

Spread seems to be spreading and the trades getting closer - cannot MM’s agree??

[currypasty] 08/4/2024 17:48

"Shell is considering quitting the London Stock Exchange for New York in what would be the biggest blow to the UK’s struggling stock market to date..."

[cashandcard] 08/4/2024 13:02

Looking forward to the result at Andrews and hopefully UJO get going at the Wilzetta play soon aswell.Cash

[maxwell] 08/4/2024 12:44

Anyone buying when 14.5p sitting on an excellent turnaround hence understand selling
Only wish it had cash to do the same. Really good start for the Tax year..

[bionicdog] 08/4/2024 11:21

Anyone want to admit to selling 43 grands worth?

[currypasty] 08/4/2024 10:14

wait till US wake up this afternoon!

[ashleyjv] 08/4/2024 10:11

Shares bought from the US stock market are traded through LSE so they don't need to supply the US with shares

[likeawalrus] 08/4/2024 10:11

24 trades through Aquis, a busy day is 3 or 4 trades

[maxwell] 08/4/2024 10:03

Very busy trading so far over 1.5mill shares changed hands…

[likeawalrus] 08/4/2024 09:28

thx cash...every day's a school day :)

[cashandcard] 08/4/2024 09:26

This is not unusual law, they discovered what they were looking for and stopped ahead of planned TD as there are no further targets for the well.Also, elevated gas readings are associated with both oil and gas presence. What you don't want is 'low' mudgas readings.Cash

[likeawalrus] 08/4/2024 09:25

UJO holds 6.3m shares in Treasury - 2 thoughts spring to mind.

Could UJO sell them to a US broker to supply the US market?

Alternatively, could UJO swap them for more oil rights with Reach?

[lageraemia] 08/4/2024 09:23

There's not been any information estimating the size of the recoverable reserve has there?

All be knw are that well typially start with recovery rates of 150 bpd. Is this reservoir contiguous with the main reservoir or is is a satellite sand body?

Look forawrd to finding out.

[likeawalrus] 08/4/2024 09:20

The main objective for this well, the Hunton Limestone, is confirmed to be present and was penetrated at approximately 4,200 feet, showing high porosity and elevated gas readings, with good reservoir quality being interpreted on the wireline logs.

TD was 5200 but stopped at 4600, is that unusual?

Is "reservoir" a reference to oil or do they mean a gas reservoir? thx

[cashandcard] 08/4/2024 08:27

Great start to the US business!Cash

[ksddw2] 08/4/2024 07:06

Looking good: https://www.londonstockexchange.com/news-article/UJO/andrews-1-17-drilling-update/16411106

[likeawalrus] 07/4/2024 13:00

Primary oil recovery is expected to be by solution gas drive with any gas recovered to surface being sold into the local network.

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.

Do we know how they plan to monetise the gas? GTG I guess?

200 thousand cubic feet of gas per day is a lot of gas to flare, assuming they hit commercial oil, will the well be capped until GTG is in place or is the policy to produce oil asap and flare for weeks/months?

[likeawalrus] 07/4/2024 12:53

lager presumably our revenue from the US will be net of opex so maybe $70 pb? that would be about $140k pm at 67bpd

[lageraemia] 07/4/2024 12:31

A success on the Andrews well will mean a net 67 bpd to UJO, which is a decent increase in cash flow (even if its sold at WTI prices at discount to Brent).

[likeawalrus] 07/4/2024 09:14

tnt, it's hard to say how much the US drill is influencing the share price My feeling is the recent Wressle planning application, followed by a much better flow rate for Jan plus poo on the front foot is mostly why the share price is up. The US drill could be the icing on the cake, not long to find out. If it flows anywhere near 150bpd the share price could be back to 25p within a couple of days. Later this month we should get an update on Beacon, if that's a big success, say hello to 30p or more!

[tnt99] 06/4/2024 21:14

Does someone know the good news already ??!

[monet] 05/4/2024 19:32

20.90p 143,540 16:29:59, 21p payed. That's what moved the share price in the last few minutes of trading today.

[bionicdog] 05/4/2024 18:57

"Add to that the recent moves into the USA which should give more than decent royalty income with a nice bit of upside then the moaning from social media should be well and truly shut up."

Never!