Union Jack Oil Share Discussion Threads

[likeawalrus] 18/8/2024 08:55

it may not be important but on A-1 has 'Product Code' 1 for crude oil' and A-2 has 'Product Code' 1 crude oil & 5 natural gas

if we have a combined 200bpd plus gas it should be worth $2m-$2.5m pa to UJO

Diana is scheduled for Q3 too, so the US could eclipse Wessle within 18 months if they drill more in 2025

[greypanther2] 18/8/2024 08:39

Hi LAW. I'm still hoping for a combined flow rate from the two Andrews wells of better than 200 bopd. I don't really care which well it comes from, although I'm expecting the 2-17 well to be the better well once things have settled down. I think it was meant to be drilled to a structurally higher position within the Hunton reservoir than the 1-17 well, I believe.

[likeawalrus] 18/8/2024 07:34

there's a very good chance we will have an Andrews update this week, A-1 production is anyone's guess but I'll be disappointed if it's less than 100bpd

[karina] 16/8/2024 14:42

What a tedious bunch you are, you need to get hobbies

[bsg] 16/8/2024 14:32

The average for a well is 28bbl a day. So I'd be surprised if this is over 100bbl a day. It will keep him in wedge that's his first priority.

[1347] 16/8/2024 14:31

They will be

[uggy100] 16/8/2024 14:15

If the stabilised production figure for Andrews-1 comes in below 100 bblpd Bramhill needs to be taken to task as he's always been guilty of over egging pretty much everything.

[t0ndo] 16/8/2024 08:56

Looks that way, as was always likely, but I feel that the polar opposite would be equally if not more likely transpire, should Andrews numbers 'disappoint' or fail to meet 'expectations' in any way, especially so with Wressle numbers as they currently are coupled with (too numerous to outline) concerns regarding our UK interests, and express that as a long term holder (one of optimism, yet of trepidation). I've got everything 'crossed' there's a rosy update in the post though.

[karina] 16/8/2024 08:36

Are you in the industry CT ?

[ctunit] 16/8/2024 08:29

Karina
June official production not testing / cleanupfigures are 1550 (52bopd)
As I said can't see it doubling to get to your 100+ Bopd

[karina] 16/8/2024 08:26

Looks like people want in before the Andrews update ?

[karina] 15/8/2024 14:08

And anyone making judgements before the official data is released after the gas is connected should not be invested or comment

Hopefully we will know next week. I am hoping for 200 bopd once both wells are up and running Wil then more wells to come, Reach as I recall said there could be 4 at this pad

ctunit You can't "see it" based on what please ?

[1347] 15/8/2024 13:44

Anyone that doesn't understand what 12 month rolling and cummulative means shouldn't really be making decisions based on any data.

[ctunit] 15/8/2024 11:12

These are not cleanup numbers 1550 are the official published production number for the month of June.
Yes, with a tweak here and there Andrews-1-17 might produce more but can't see it getting to 100bopd

[likeawalrus] 15/8/2024 08:23

There was some debate regarding the A-1 production no of 1549.75 barrels - 'month of June' or 'to date'. As it says "This is a rolling 12 month list" I believed it was cumulative. I have found an example that clearly shows that these data points are monthly - however as it's the first data point for A-1 it may include production for May.



select 'Visit OTC', use company number 24558 for Reach

select lease EVICK which shows monthly production of about 159 bl - note 03/24 is 335bl as Feb was missed

this reporting methodology suggests that the June/24 data for A-1 is cumulative as a one-off imo

PS lease AMOS is another one with lots of data points, also data appears to be about one month in arrears, ie June data was added early August (NSTA 2 months in arrears)

[currypasty] 14/8/2024 17:31

possibly there is no news to tell, no news to leak?

we wait for the gas pipe connection, before stable flow data
we wait for Wressle decision
we wait for Egdon to move on any of the jv projects

[t0ndo] 14/8/2024 16:50

Haven't time to dig out share price pre-RNS etc..., but for me, buybacks aside, unless I was imagining things (distinct possibility), volume / action has tended to increase (buying / selling) a day or two before news (good / bad), that's all, and only IMO. And there's been little of that of late, despite the 'progress' over the pond. I'm just putting it down to years of frustration and (in hindsight), missed exit / trading opportunities.

[karina] 14/8/2024 15:55

When was the last leak at UJO Tondo please?

[t0ndo] 14/8/2024 15:23

It's never historically been a water-tight ship though, which does concern me somewhat, what with no (released by UJO) data from Andrews 1/2 as yet, but 'tighthole' status gives me some hope I guess

[bsg] 14/8/2024 14:28

Depends what you call an issue. It produces what it produces so it would be an issue for most if it was 5 bbl a day but not if it were 100 bbl a day. May be?

[uggy100] 14/8/2024 14:24

I have little faith in DB'S forward plans. During the placings constant reference was made to funding for projects that have never come to fruition.

[karina] 13/8/2024 16:40

Yep I am just looking at the photos of the gas pipeline install the full oil tank the second well and assuming all is tickety boo

So as you say Hold your fire until you have the facts rather that assume, cos we all know what that does ;-)

[1347] 13/8/2024 16:30

It's over three months now, I can only go on what information we've had so far. When I get some new information I'll re-assess, that's what everyone should be doing.