Union Jack Oil Share Discussion Threads

[greypanther2] 10/8/2024 06:36

I suppose one way round the problem would be for the partners in a large licence to sell just the discovery or the proposed development area, while retaining all the4 undrilled prospects. This could be done at West Newton, I suppose, as it's a very large licence. But it could be a bit messy as the purchaser might also want to get its hands on all the promising, and still undrilled structures; these would have little or no demonstrated value at that stage.

[likeawalrus] 09/8/2024 19:40

cheers GP. it's an interesting question because if WN is commercial the JV will have an important decision to make

[greypanther2] 09/8/2024 17:59

Hi LAW, IMO selling a licence would definitely not attract the EPL, However, it's worht bearig in mind that once a company sells an interest there isnn't going to be any future licensing rounds in which to replace a decent licence.

[likeawalrus] 09/8/2024 14:01

maxwell you say not worth it but that's the crux of my question. Would selling an oil field license with X reserves in the ground attract the same rate of tax as O&G sold to a refinery?

[maxwell] 09/8/2024 12:34

Not worth the expenditure with the rate of tax plus any risk will also mean not happening… after all the name of the game is profit & at the moment all marginal.

Unless we have a couple of mathematicians who can show different realities per without the home oil aspect after all let’s keep the fields green.

[likeawalrus] 09/8/2024 11:00

The Energy (Oil and Gas) Profits Levy (EPL) was introduced in May 2022 to tax the extraordinary profits of oil and gas companies operating in the UK and on the UK Continental Shelf. The levy is currently set at a rate of 35%, bringing the headline rate of tax on upstream oil and gas activities to 75%


if WN is drilled and commercial oil or gas is found, would selling the PEDL attract the same rate of EPL as selling O&G day by day? just curious

[1347] 07/8/2024 15:34

I remember then last time they built some large oil storage as they'd found so much of it. Some place called West Neutron or something, whatever happened to that?

[bsg] 07/8/2024 14:56

Can you put a figure on it, i.e. 20bbl or 50bbl if it's something like 28bbl then it will keep him in wedge but no one else.

[markfrankie] 07/8/2024 14:24

Yes it must be easily worth this expense

[bsg] 07/8/2024 13:00

When is this amount of work not worth it for the oil/gas produced?

[maxwell] 07/8/2024 12:48

Reduced the spread but still no change to trades as only 4 all day

[bsg] 07/8/2024 10:48

I don't think he'll fit in there.

[markfrankie] 07/8/2024 09:15

Is DB in USA at the moment?

[currypasty] 07/8/2024 08:31

no explanation with this photo from an hour ago... tank full of oil ?

[karina] 07/8/2024 08:31

You post that straight after a tweet update ?

[currypasty] 07/8/2024 08:06

wide spread today

[uggy100] 06/8/2024 21:22

DB needs to step up to plate & actually engage with his shareholders.

[currypasty] 06/8/2024 07:40

Union Jack Oil plc
@UnionJackOilplc 1h

Every day takes us one day closer……💪

[likeawalrus] 05/8/2024 11:15

yes I expect a snapshot production rate soon for A-1 but I have no confidence we will get quarterly production data, after all we havent had any numbers for the monthly Royalties and we havent had a Q2 production number for Wressle when we were told we would. (The Q2 data will probably be in the Sept Interims but we will have the June number from the NSTA on 01/09 anyway)

[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