Union Jack Oil Share Discussion Threads

[currypasty] 05/8/2024 10:13

Once the gas line is up and running they can crank up the pump.. no point till thats done or your just wasting the gas for no reason.

[karina] 05/8/2024 09:36

DB has stated an update in AugustTwo wells requiring a gas connection....I'm not selling

[likeawalrus] 05/8/2024 07:37

"Cash and cash equivalents at year end amounted to £5,198,303"

with the markets looking very fragile, is UJO a reasonably safe bet? oil dropping due to talk of a US recession yet international peace looks very fragile so poo could spike if it kicks off in the middle east, south china sea or N/S Korea.

If there is further turmoil in the markets which cascades down to companies like UJO, transparency for our US assets will be critical to maintaining the share price Unfortunately I dont think we will get it from Bramhill, so the share price will drop back to 12p/13p imo even if poo makes a strong recovery

[currypasty] 02/8/2024 16:58

Oil weak today

[likeawalrus] 01/8/2024 09:42

unfortunately the only site I have found that gives OK production data requires a $99 pm subscription. I doubt we will get transparency from DB as we dont even have data for 7 months of monthly Royalty payments

[currypasty] 01/8/2024 09:33

Im sure the directors are well aware of production 'drop off' as per nighthawk😂

A pay back in six months, and anything after profit is surely a great bet though?

[likeawalrus] 01/8/2024 09:15

"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."

DB has compared Andrews to adjacent wells, I would hope he also considered drop-off data too before agreeing a price

[karina] 01/8/2024 09:04

Indeed they are the point being the buy in costs have no relation to flow drop off as alluded to by bsg

[likeawalrus] 01/8/2024 08:55

those stats reference Diana-1 not Andrews

[bsg] 01/8/2024 08:51

Great research. Surprised it's so cheap.

[karina] 01/8/2024 08:50

thick as mince

3 miles south, which has produced 5.8 million barrels of oil; the adjacent West Bellmont field, which has produced 580k barrels; and Arlington Field, 10 miles to the northeast, which has produced 1.8m barrels.

[bsg] 01/8/2024 08:42

I think with the 'cheap' farm in costs the wells don't last long.

[likeawalrus] 01/8/2024 08:13

I think i will take a few more months before we know if Andrews is the new cash cow, plus of course some posters have said these wells drop off very quickly. If that's true could 100bpd/150bpd be 30bpd within a few months? Does anyone know how quickly these OK wells drop off?

[currypasty] 01/8/2024 08:03

sell the lot to egdon, and move 100% usa

[likeawalrus] 01/8/2024 07:36

wressle 383 bpd for May

net 153 to UJO so the US wells are catching up fast

the nsta data does not account for downtime so the average bpd is volume/days in month, for example if they had 3 days downtime the average would be dragged down

Kedd 6 bpd so I guess the upgrades are underway which is good news

[penciles2] 31/7/2024 16:11

Another thing to notice is Greggs have installed a super size bake off oven in new ilfracombe shops,due to increased demand,although quite this week as spending the cash at goodwood

[likeawalrus] 31/7/2024 14:39

"well completion list - last 7 days"

includes Andrews-2

[likeawalrus] 31/7/2024 14:32

mf, I would add to that list - Bisc statement, Kedd upgrade status, WN status and Royalties transparency

[markfrankie] 31/7/2024 13:28

Ujo uk activities.... im actually forgetting the names of the uk prospects..its taking so long,

[markfrankie] 31/7/2024 13:24

Would love a treble whammy..
A1 flow rates
A2 update
UK activities update

[likeawalrus] 31/7/2024 12:45

if UJO can net 100 bpd from Andrews and 150bpd from Diana, those 3 wells together will significantly exceed our 40% from Wressle.

[likeawalrus] 31/7/2024 12:20

it's great to see Reach cracking on with A-1 and A-2 at a pace UK onshore can only dream about...2 wells will be a catalyst for a significant re-rate imo

meanwhile, this one could be even more lucrative as we own 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.

Typical wells drilled in the Wilzetta Fault can produce approximately 250 barrels of oil per day providing pay-back within three months. The initial Wilzetta well will be drilled to a depth of 6,000 feet where the prospect integrity is supported by recently reprocessed 3D seismic data.

[karina] 31/7/2024 11:26

Will find out soon Curry Flow rates for Andrews 1 expected next week?

I reckon the 2 wells will be 250 bopd plus with the gas on top

[currypasty] 31/7/2024 11:18

does the 'additional' mean the three other similar tanks in the above shot are also 300bl oil ?

so is that a total on site capacity of 1200 bls ?