Union Jack Oil Share Discussion Threads

[likeawalrus] 18/7/2024 11:08

I have yet to find any transparency on these Royalties - does anyone know if Royalties are openly traded on an exchange???


this is interesting - unfortunately one has to register - it's an auction site for Royalties

www.energynet.com/page/Notable_Oil_and_Gas_Sales

www.rangerminerals.com/oil-and-gas-royalties/

[likeawalrus] 18/7/2024 11:01

The Mineral Royalties portfolio assembled to date is summarised below:

• Cronus Unit, containing a 25 well package in the Permian Basin, Midland County, Texas, (effective date December 2023); the property is comprised of nine Chevron and 16 XTO (a subsidiary of Exxon) operated wells

• COG Operating LLC (a subsidiary of ConocoPhillips) operated Powell Ranch Unit, consisting of 15 wells in the Permian Basin, Upton County, Texas (effective date November 2023); the property is comprised of seven horizontal and eight vertical wells

• Occidental operated Palm Springs Unit, containing 10 horizontal wells in the Permian Basin, Howard County, Texas (effective date January 2024)

• Bakken Shale, a diversified 96 well interest package, located in Dunn, McKenzie and Williams Counties, North Dakota. Quality Operators include Burlington Resources, Continental and Hess (effective date March 2024)

• Permian Basin, an eight well producing unit, located in Howard and Borden Counties, Texas. Operated by Vital Energy Inc, a quoted, Permian Basin focused entity, based in Tulsa, Oklahoma (effective date March 2024)

• Eagle Ford Shale, a nine producing horizontal well package, located in DeWitt County, Texas, operated by ROCC Operating (effective date March 2024)

The Mineral Royalties also provide additional upside as new wells are completed and drilled on the properties at no cost to Union Jack. Chevron, one of the operators, has publicly stated their commitment to expanding activities in the Permian Basin.

...found this re Chevron

[likeawalrus] 18/7/2024 07:31

a very good, timely RNS, I'm looking forward to more updates from Andrews followed by Diana...

[currypasty] 18/7/2024 07:04

"Work continues on the gas export pipeline at the site of the commercial Andrews 1-17 well (Union Jack 45%) and as previously reported we expect to update the market on progress on this well in early August 2024."

[plasybryn] 18/7/2024 06:46

Tik tok. Well done David. Keep the momentum going. Feeling positive.

[currypasty] 18/7/2024 06:38

great news

[karina] 18/7/2024 06:22

Thats odd, some of the oil gurus on here said there were issues with Andrews 1 ......

[ashleyjv] 18/7/2024 06:04

Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF), a UK and USA focused onshore hydrocarbon, production, development, exploration and investment company is pleased to announce a positive drilling update in respect of the Andrews 2-17 well, located in Seminole County, Oklahoma, United States in which Union Jack holds a 45% working interest.

Further to the spud announcement of 10 July 2024, the Andrews 2-17 well was drilled to a Total Depth of 4,850 feet.

The main objective for this well, the Hunton Limestone, is confirmed to be present and was penetrated at approximately 4,180 feet (Measured Depth), showing elevated gas readings, good oil and gas shows, stain and fluorescence from top to bottom of the interval and is hydrocarbon bearing as interpreted from the wireline logs.

Completion and production testing of the Andrews 2-17 well is scheduled to commence within the next 14 days.

The Hunton Limestone is one of the main hydrocarbon reservoirs in Oklahoma and is unconformably overlain by the main oil-prone source rock, the prolific Woodford Shale.

Drilling and completion costs have already been paid for from the Company's cash resources.

Further announcements will be made when more information becomes available.

[markfrankie] 17/7/2024 13:42

Post 23288
thank you likeawalrus

[likeawalrus] 17/7/2024 09:57

if Reach can spud 3 wells a year for the JV, our share of US production could exceed Wressle within 2 years or less, plus of course gas monetisation and Royalties would add to the pot. Love him or hate him, Bramhill's move into the US is a game changer for UJO

[likeawalrus] 17/7/2024 08:18

I found this in the annual report

WILZETTA FAULT PLAY AND DRILLING IN OKLAHOMA (75%) - During February 2024, the Company signed a farm-in agreement with Reach to acquire a 75% interest in a high-impact well, Diana-1, planned to be drilled in Q3 2024, to test the Footwall Fold Prospect in the Wilzetta Fault play, a proven oil producing location and in an area of associated interest.

[likeawalrus] 16/7/2024 13:45

toon Andrews-2 has been spudded, other than that not a lot going on, bisc quashed too so that could free up a couple of million to spend in the US

[thetoonarmy2] 16/7/2024 13:13

Curry so not a lot happening here then? I just got back from the sunshine a nice break and the weather is fantastic over here, not,
will give you a ring to find out what's happening here with old Fattie did you go to the AGM?
A few other shares that we are in can't be bothered to go looking back at posts no real news on any of them the price on UJO looks pretty dismal and so do quite a few others as well.

[markfrankie] 16/7/2024 12:53

ship it to france, then import it lol, imports are fine... box of frogs uk

[greypanther2] 16/7/2024 11:58

Yes, it's a complete nonsense CP.

[currypasty] 16/7/2024 10:58

wouldnt that be a bit like buying your electric from a 'green' supplier, but actually they and you have no idea as it just come via the grid?

[likeawalrus] 16/7/2024 10:53

GP it's a nice idea but as I said the other day, once the oil is sold Egdon has no say in what happens to it

[greypanther2] 16/7/2024 10:33

Hi LAW. It's only a personal view but I'm not completely convinced that Biscathorpe is dead. All that has happened so far is, IMO, that the Bisc. Judicial Review (regarding the successful planning appeal by Egdon) has fallen foul of the Finch case at the Supreme Court. To my mind, that decision was based on some rather dubious logic about where the refinery products would be used, and for what purpose. For example, any oil-based products shipped abroad from a UK refinery processing Biscathorpe crude oil would probably not count towards UK emissions. It's a bit of a long shot, but what would stop Egdon and UJO submitting a slightly revised planning application to Lincs Council which incorporates a few extra documents about where Egdon's local (Keddington) oil usually goes, and perhaps what the relevant refinery's products are used for? Well, it's a thought!

[likeawalrus] 16/7/2024 10:13

it's 5 days since the Supreme Court quashed Bisc planning....yet not a word from UJO.

Once again Bramhill disrespects shareholders by not keeping us informed, instead we have to rely on drillordrop

[likeawalrus] 16/7/2024 09:07

Egdon acted as the agent for the Cloughton planning application which was recently submitted. It could be that Egdon was so busy with Cloughton Wressle and Bisc they side-lined Kedd

[likeawalrus] 15/7/2024 15:23

this is what DB said on the 10th

"Work continues at the Andrews 1-17 wellsite, comprising installation of gas export facilities and further upgrades. This work is expected to be completed by late July/early August 2024, followed by flow rates and other associated information."

[karina] 15/7/2024 15:17

Ha. I've screenshot that pearler 1234 !!

[1347] 15/7/2024 14:43

I reckon there's a problem at Andrew-1, it's probably flowing a lot less than he'd like to admit to market and probably with significant water cut. The game here is to stall giving that information out until they can ramp Andrews-2. Always jam tomorrow with these companies.