Union Jack Oil Share Discussion Threads

[lageraemia] 03/5/2024 08:37

My suspicion is that they are keeping Schtum so they can bid for any nearby acreage. They only have first mover advantage while they are the only ones who know what the well is producing.

My understanding is that this is how it works in the US - happy to be corrected.

[1347] 03/5/2024 08:21

You can't say that until we see some results from the testing and it's gone suspiciously quiet on that hasn't it? Starting to remind me a bit of WN and that 'temporary pause'.

[markfrankie] 02/5/2024 16:47

Yep ujo have been as frustrated as the rest of us, its a great move west

[colinbicknell] 02/5/2024 16:31

WN potentially a formidable asset

The biggest xyz for 40+ years isnt it ?, drill it, miss, then forget it for 2 years lol
Im sick of the speed of UK assets. Or its Rathlin/EDR that doesn't have the money etc....

Id rather see us transfer say £5m over to US & buy more and drill more over there. Were still getting over $500k from Wressle every month so Im sure we can afford it. IMO UK assets other than Wressle and maybe WN could be sold to generate more money & Id give WN 12 months tops.
Time for DB to earn his big wages and reward UJO shareholders too

[t0ndo] 02/5/2024 15:54

Yes...USA......, BUT, WN potentially a formidable asset for us even if proven and sold on to AN Other, which personally, given timescales and opportunity, for me, makes sense to firm up, and at least have choices. Ditto WN optimisation and other uk assets, but not necessarily all of them - timescale / viability dependent. Brammers ain't no Gordon Gekko, but his decision making and strategic thinking appears to gave improved somewhat of late, and that gives me, at least, some current optimism, moving forward.Think company on upturn and sentiment generally positive (for a change). Simply a case of applying some common sense to optimise cash allocation and position placement, considering where we are now.

[tnt99] 02/5/2024 15:05

Makes sense to pump USA no 75 per cent tax on your profits Probably why they aren't that bothered about west NewtonAgain the government shoot themselves in the foot Reabold are taking the same tack in Italy A tax regime should apply to all companies equally no wonder the share prices are so depressed in oil in the last budget they stated it will be imposed until 2020 crazy

[likeawalrus] 02/5/2024 08:22

DB is trying to raise the company profile in the US as he is clearly frustrated by the lack of progress with our UK assets - all part of the plan to reinvent the company imo. with Royalties and a couple more wells we will have more revenue from the US than Wressle within a year or two.

[1347] 02/5/2024 08:06

Who cares about some presentation in the states? Can't see the point of it, unless they are looking to raise funds over there? They have said for two years they are fully funded for all drills, not they've done any in all that that time apart from the Andrews Drill. Talking of which, why no announcements about how the production testing is going? Silly tweets with pictures of nodding donkeys doesn't cut it with me.

[likeawalrus] 02/5/2024 08:04

still no nsta data for feb

[colinbicknell] 01/5/2024 19:58

Mushroom Oil - always kept in the dark !

[lageraemia] 01/5/2024 11:32

No news is more likely to be good news under these circumstances, given what we know.

I suspect they are going to wait until flow rates have stabilised, and the longer that takes the better normally as the perforated section cleans up.

[maxwell] 01/5/2024 11:27

Tests still ongoing indicate that it is producing hence will have stopped & plugged if no oil worth measuring etc….. just have to wait for estimated life & production rates……..

[currypasty] 01/5/2024 10:24

@UnionJackOilplc
#ujo

"With our appetite whetted and as we learn more about the technical and production attributes of the well over the coming weeks, I am certain that our United States drilling activities will be accelerated and another positive phase of growth will be added to the Company's already successful ventures, both sides of the Atlantic."


"Testing is progressing at the Andrews-1-17 well, West Bowlegs Prospect, located in Seminole County, Oklahoma 🇺🇸 #UJO holds a 45% working interest. Drilling and completion costs have already been paid for from the Company's cash resources."


video of pumpjack in action

[likeawalrus] 01/5/2024 08:45

thanks 1347, that makes sense

[1347] 01/5/2024 08:38

The share were all transferred to Elepphant Oil Corp, which will be the US entity, the only question is whether UJO got any shares in the US enity in return for those in the UK entity.

[likeawalrus] 01/5/2024 08:27

fyi - nsta data for February not yet online

[likeawalrus] 01/5/2024 08:00

book value of £93k as at 31.12.22 but currently zero imo - I'm expecting a 100% write-off in the 2023 accounts. if there isnt a write-off there should be!

[currypasty] 01/5/2024 07:55

had they any value?

[likeawalrus] 01/5/2024 07:50

as at 14.01.23

Shareholding 65: 169959 ORDINARY shares held as at the date of this confirmation
statement Name: UNION JACK OIL PLC

statement issued today

Shareholding 65: 169959 transferred on 2021-04-21
0 ORDINARY shares held as at the date of this confirmation statement
Name: UNION JACK OIL PL


I'm not sure what this means, has UJO disposed of the ELEP shares?