Union Jack Oil Share Discussion Threads

[karina] 13/8/2024 16:16

Exactly Curry

One could almost think some here have an agenda !? ;-)

[currypasty] 13/8/2024 16:08

pre production testing and clean up numbers with down time and site upgrades are totally meaningless.. hence i guess why the company hasnt said anything..


surely let them finish development, plumb in the gas pipe and then judge on the numbers?

[karina] 13/8/2024 15:28

Why are people discussing the production numbers of wells not fully in production Is that not a bit odd ?

[1347] 13/8/2024 15:17

"Andrews 1-17 well gross volume for June was 1550 barrels of oil"

No it isn't we've gone through this, it's 12 month rolling.

law - the numbers do matter because it means at least from Andrews-1 UJO are not going to be generating much revenue from the USA operations. The other numbers we need are gas volumes and water cut and Opex costs. At the moment there is too much heresay going on for this to be a serious investment, as opposed to a punt on BB/Twitter rumours etc.

Sorry if the facts upset some. Actually on second thoughts I'm not sorry at all.

[likeawalrus] 13/8/2024 14:22

Kedd was a sure thing for H2 2023 - didnt happen - not a word from Bramhill
Bisc planning was scuppered by legal action - not a word from Bamhill
Kedd will have "upgrades" this year - no other information from Bramhill
flow rates for Wressle would be quarterly - no data for Q2
Diana-1 due to be drilled in Q3 - no updates as yet
7 months of "monthly" income from Royalties - not a word from Bramhill

...Bramhill doesn't do clarity or timely

[wba1] 13/8/2024 14:12

The issue is not the numbers but management of information. If Bramhill could not meet his announced date of early August for flow rates he should have issued an update. An RNS is not necessary as a simple post or reply would do with a new target date. As all board directors know (or should know) management of communication is often as important as management of the underlying business.

[croasdalelfc] 13/8/2024 12:48

Andrews 1-17 well gross volume for June was 1550 barrels of oil

[likeawalrus] 13/8/2024 11:40

found this

we have a Royalty relating to 96 wells across 3 counties in ND

[likeawalrus] 13/8/2024 11:16

most of our Royalties are in Texas (one in North Dakota)



this site gives extensive data - it's tricky to navigate - I will post data if I find anything useful, for example Eagle Ford's last monthly data point showed 103'000 bls for the month, unfortunately that doesnt help much as we have no idea as to the terms of our Royalties, that's a shame

[bsg] 13/8/2024 09:58

He could do but you don't know what hair brain scheme the Labour Govn. are going to have about oil in UK. So he's looking after number one, as any one would do.

[karina] 13/8/2024 09:50

bsg Why would DB not just sit on Wressle and draw a salary then ? Sounds like you have an axe to grind too Thats fine just let us know

[karina] 13/8/2024 09:46

Fair play toon

[bsg] 13/8/2024 09:35

As I said before if it keeps DB in wedge, that will be all he's worried about.

[karina] 13/8/2024 09:05

Another to screen shot for posterity......

[1347] 13/8/2024 08:51

If you think 20 BOPD is a Company saver, I've got a bridge to sell you. I don't care how many daft red thumbs down I get the fact is 20 BOPD to the end June is nothing to write home about, which is why DB hasn't. We'll have to see if it improves and how the second drill goes but as is often the case with these companies lack of information is usually a negative, because AIM Oiler MDs aren't slow to give you good news. I tend to think the money may have been better spent on that side-track at Keddington, which could and should have been drilled by now.

[likeawalrus] 13/8/2024 08:20

unfortunately Bramhill has a long history of ramping, lack of transparency, unrealistic timelines and misleading statements - I cant see that changing

[wba1] 13/8/2024 08:13

The issue with Andrews is no longer the numbers. The continued investment clearly demonstrates it is commercial. The issue is the management of information. DB said that flow rates would come out in early August. It is no longer early August. And a competent management would recognise the need to be transparent once numbers from official sources enter the public domain, especially when they are subject to interpretation. Competent management get ahead of the information flow and meet their promises.

[likeawalrus] 13/8/2024 07:56

it will be interesting to see how much the Keddington upgrades cost and how much more oil that means for UJO. I suspect the cost/reward ratio will be better at Andrews

[likeawalrus] 13/8/2024 07:53

this is from the RNS of 10.07.24

"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."

I dont think we should be too concerned with a low bpd number during a period of testing and upgrades, also, I believe DB said "up to 100bpd". Even if A-1 produces at 100bpd, that's still a very healthy 45bpd to UJO plus gas of course. If A-2 can duplicate that, I would consider Andrews a significant success for UJO

[1347] 12/8/2024 18:47

It will be from when production commenced until the end of the reporting period, i.e. 17th April 2024 to 30th June 2024, which is 75 days to produce 1,549.75 barrels so that's just over 20 BOPD. That's why they've kept quiet about it, it's poor. No idea about water cut and I assume the gas is being flared but we don't know how much.

[markfrankie] 12/8/2024 10:12

Just tuned in..
Thanks for info.
Great news

[likeawalrus] 12/8/2024 08:58

that's the big debate at the moment, some are saying it's for June, my feeling is it's for 17.04-30.06 as it states "This is a rolling 12 months list" so imo it's cumulative