Union Jack Oil Share Discussion Threads

[markfrankie] 23/5/2024 08:02

Thank goodness

[bionicdog] 22/5/2024 21:01

Should I get rid of him?
Let the people decide.

[atino] 22/5/2024 19:47

Actually…how dare you report “millions̶1; in sale RNS’s….⚠️ and then…can’;t even record a “million”;…in annual net profit !!


On second thoughts (double damn you!)…how dare you…. pulled away in fabricated valuations !??? 😤💭💭💭8173;

[atino] 22/5/2024 19:36

Seriously…after months on end, of reporting & achieving “breaking milestones”230;the annual report has been A disappointing read !

0.25 divs; is just to appease…

[atino] 22/5/2024 19:31

Achieving £800k in net profits…whilst expecting institutional investors to jump in - somehow just don’t add up….nor does it…stack up ! 🤦‍a94;️🤦‍♂ᥧ9;🤦‍♂️

👉🏻 for £800k I can reassure you…institutional investors can make better use of their funds ELSEWHERE ⚠️ yielding % far greater ! 😤

[atino] 22/5/2024 19:28

I haven’t exactly listened to Tom podcast as not member…but here’s a positive post…(for £800k! 🙄🤦‍♂️)

(Quote) Union Jack Outshines the Competition May 22, 2024 UJOUKUS Uncategorized

Union Jack Oil, contrary to the beliefs of just a small number of people who have nothing better to do than post negative, misleading and in many cases inaccurate and ill-formed comments on the bulletin boards, is in every way going to outweigh its AIM listed peer companies in the onshore UK sector.

The past few years have not been easy for this little oiler, what with planning refusals, appeals and challenges to positive outcomes. One could reasonably assume that the future of small oilers who are not producing is written on the wall. Even those like Union Jack who are lucky enough to have a strong revenue stream from Wressle have had their legs cut from beneath them with the energy profits levy and the potential removal of right’s to further licence approvals.

However, unlike their peer companies, Union Jack has chosen to utilise their substantial cash reserves to enter the United States, drill their first well, which is already generating commercial rates, whilst also investing in a substantial Mineral Royalties package that is also providing the company with additional revenue streams.

It is not difficult for anyone with an understanding of this industry that what the management are aiming for here is to sustain a strong income stream whilst building a new asset portfolio in a country that shows favour and understands the need for home produced fossil fuels.

With considerably lower taxes, the value of a barrel of oil in the USA is far greater than the UK and the costs to drill the wells required to make a success of this venture far, far less than the millions required over here.

People ask why no institutional investors are showing any interest in Union Jack? Would you gamble your clients money on any UK oiler when it is common knowledge that even when they get permission to drill, that doesn’t mean they get permission to produce. Even if they do, that permission is immediately challenged by activists. Years and years of appeals and objections with no guarantee of success!

This management has made an excellent decision moving their operations outside of this backward looking country whilst they have the cash to do so. They are not sitting around waiting and hoping for the rights to drill or the rights to produce. They are aggressively targeting a drilling and production program with their joint venture partners Reach Oil and Gas. The first well was planned, drilled and put into production within just a few months. A second well is already in the planning phase.

There have been questions asked over why the company has not yet released the Andrews-1-17 flow rates and accusations they are as low as 20 bopd. When one looks at the fact they have stated quite clearly they are testing, cleaning up and in the process of installing permanent production facilities to optimise flow rates, the various ‘accusations’ are as ludicrous as the people who make them.

The site facilities we are seeing installed via the images on X are not indicative of a small amount of oil. The average rates of nearby wells are in the 150 barrels per day range. Why would this be any different, why would management declare a ‘major success’?

Union Jack is going to do extremely well in 2024 and beyond. This will be down to a shrewd, experienced management who are doing what needs to be done and I support their decisions 100% .

Whilst the share price remains far below expectations, I fully expect a re-rate this year to the 50p+ levels and this is in line with many analyst estimates.

hxxps://ujoukus.com/union-jack-outshines-the-competition/

[currypasty] 22/5/2024 18:29

lets hope they crank up the USA assets and projects before July 4 election

[thetoonarmy2] 22/5/2024 18:14

MarkF I do hope so, I don't fully agree with TW but Bramhill was absolutely stupid in taking him on and his secret squirrels report never saw the light of day did it and we know why.
I just hope he has a blockbuster in the USA we need a boost to a flagging share price.

[dan de lion] 22/5/2024 17:49

looking at the picture of the storage tanks, calculations using the height of the man as a rough measure, gives a capacity of 900 barrels of oil give or take a 100.
(They could be standard 1000 barrel tanks, if there is a standard)

[markfrankie] 22/5/2024 17:45

Also the time before TW slagggged of ujo ... it dropped a little as his followers sold Then a nice big rise... same again?

[thetoonarmy2] 22/5/2024 14:51

Wonderful price action those results really inspired confidence in the market, where are all the people buying because it pays a Divi and please don't try any more buybacks or it will go below the 20p mark.

[penciles2] 22/5/2024 14:20

Down we go again,awful results,moneys leaking badly

[1347] 22/5/2024 13:59

Try a different supermarket...

[currypasty] 22/5/2024 12:44

Bacon up 13%

[currypasty] 22/5/2024 12:42

It would help if they gave an update on progress of USA well... or are they waiting till closer the AGM to release good news?

[maxwell] 22/5/2024 10:22

MM’s cannot help it ??? Only 2 trades so far today totalling 19005 at 21.5p hence probably sells & share price down - just nonsense all the time per needs sorting!!!

[currypasty] 22/5/2024 09:23

Nice piece of kit to upgrade site production facilities at Wressle, Union Jack’s flagship UK onshore well.

(Image compliments of Egdon Resources Limited)

[currypasty] 22/5/2024 08:54

looking at the old RNS's, we have $17 on 3/8/23, and $18 on 15/1/24

You cant have same revenue and profit as previous year when it was not producing for nearly 5 months


Hopefully with the jet pump on not too taxing flow rate, going forward, interims should be much better

[atino] 22/5/2024 08:48

…you guys carry on 😤