Union Jack Oil Share Discussion Threads

[lageraemia] 26/9/2024 09:27

Hi LAW

Run the calcs with an average Brent price of $80......

Some of the Treasury shares could also be sold to strategic partner(s) potentially.

[currypasty] 26/9/2024 09:16

its a very comprehensive report.. far more info than we have in all UK brokers and rns's put together

Might it be an idea to drop UK listing, in favour of USA list? How would that affect our tax situation ?

[likeawalrus] 26/9/2024 09:11

I think they will, the US assets look very promising as does Penystone. my big concern is how UJO will fund £5m capex next year - it doesn't look possible from cash and 2025 revenue alone

[dan de lion] 26/9/2024 08:50

Lighthouse research seem to think that UJO are going to do very well going forward.

[currypasty] 25/9/2024 16:39

380k trade just showing

Company share buy back 🤣😂😁

[currypasty] 25/9/2024 16:02

UJOGF Profile
Sector: Energy Minerals
Industry: Oil & Gas Production


lots of info to digest

[markfrankie] 25/9/2024 15:52

The WN area is absolutely huge and it also has its 2 satellite areas too. if I remember correctly??:During the last drill-tests within WN (Not the satellites) they proved that the 2 or 3 different areas are indeed linked to eachother (was it something like a Mile apart??) Anyway the problem was the make up of the cutting fluids: they didn't suit the structure, since then the coalition have gained formation knowledge and got some excellent 1st hand tips from operators with similar structures, so we are all waiting with eager anticipation, the massive West Newton,
Local infrastructure is in place locally.
I wish us all ' good luck' so long as RBD pull their fingers out

[maxwell] 25/9/2024 10:36

MM’s trying to stimulate some business as only 65k sold & 45k buy today hence share price fluttering about to tempt either way…..

[1347] 25/9/2024 10:28

Yes but the point is the thickos in the Labour party and the Climbys don't get that. It's absolute lunacy to destroy your own energy industry while you are still a net importer of oil & gas. The irony is that, according to the UK's own government studies, UK produced oil and gas is better for the climate than imported energy from half way round the globe. However we have absolute morons like Red Milliband, who are driven by dogma, not reality.

[dan de lion] 25/9/2024 09:59

OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would keep growing until at least 2050, a key year in the battle against climate change.

[markfrankie] 25/9/2024 07:54

Article above is correct But the market isn't interested in aired intentions from RBD as they have a long history of their intentions not matching their actions,
Ujo have been pushing for WN action for years to no avail, I think RBD have been stuck in that old saying "never drill your best asset" the uk needs this gas, RBD are nothing without it, the RBD board will be removed for inaction

[markfrankie] 25/9/2024 07:43

Share_Talk ™
@Share_Talk
It appears that the market has yet to cotton on to the fact that this recompletion could be a really meaningful step for the project #RBD #UJO This would be significantly changed by a decent flow rate which would prove to be the game changer for the economics at West Newton
@mgrahamwood
via
@share_talk

[atino] 25/9/2024 07:40

…diverted UK funding, paying dividends ??! 🤦‍a94;️

[likeawalrus] 24/9/2024 19:28

it's the last roll of the dice for WN, if the gas doesnt flow after re-completion, Rathlin is dead in the water - no mention of costs for the re-completion though?

[1347] 24/9/2024 18:21

"It appears that the market has yet to cotton on to the fact that this recompletion could be a really meaningful step for the project #RBD #UJO This would be significantly changed by a decent flow rate which would prove to be the game changer for the economics at West Newton"

Spot the rather obvious flaw in that logic, yes it's such a simple game changer that it's taken them years to think about doing it and apply for a permit to be able to actually do it. I'm calling hogwash.

[currypasty] 24/9/2024 17:37

has a diagram of what they intend on west newton

[colinbicknell] 24/9/2024 17:34

Malcy today

........For the recompletion of the West Newton A-2 well to proceed, Rathlin is required to obtain consent from the North Sea Transition Authority and receive a permit from the Environment Agency.

Union Jack is fully funded for the proposed recompletion.

[uggy100] 24/9/2024 15:28

I cannot disagree with the last 2 posts.

[bsg] 24/9/2024 13:50

Also it will keep them in salaries. That was their main aim. They obviously wanted more but worst case, keep the lights on.

[likeawalrus] 24/9/2024 11:52

from Europa's 2023 accounts

For PEDL180 the partners have agreed to drill two development wells and to construct a gas export line. These activities are contingent upon the budget being approved by the JV partnership, the timing of environmental permitting and the availability of a suitable rig. The total net cost to Europa for the work programme is estimated to be £0.5 million in 2023 and £3.7 million in 2024.

...2024 is now 2025, if EOGs 30% capex is £3.7m, that means UJOs 40% capex is £5m

UJO had £3.15m cash as at 30.06.24

UJO has to fund capex for Wressle expansion and possibly WN in 2025

Will UJO secure a loan facility or will Bramhill re-issue the Treasury shares and/or have a placing?

Is that why the share price is dropping?

[1347] 24/9/2024 11:00

Oh and if you check last years Rathlin account they were supposed to drill WN-B in the latter of of 2023 and had commitments for a work programme to the NSTA by June 2024 (Note 22). They've done none of it, all that work on Planning etc. I mean what was the damn point of it all? Now in this years's accounts Note 20 indicates they only have enough money to keep their own snouts in the trough. UK's biggest undeveloped onshore gas field and no-one does anything with it? Yeah sure, UK's biggest White Elephant more like.