Union Jack Oil Share Discussion Threads

[likeawalrus] 29/10/2024 07:40

assuming my calculations are correct, Andrews 1 & 2 are not a "major success" imo, in fact I am very disappointed considering how much Bramhill ramped them. It will be exciting having 2 or 3 wells spudded every year but Bramhill's RNSs should be taken with a pinch of salt

[karina] 29/10/2024 07:39

The successful, now predominantly gas producing Andrews 1-17 and 2-17 wells

Wow......... a little different to how it was being spun is it not ?

[ldbart] 29/10/2024 07:36

A welcome RNS for us loyal, long-term holders.

[likeawalrus] 29/10/2024 07:33

23.09.24
Since being placed on restricted and periodic test production during late May 2024, the Andrews 1-17 well has produced 7,052 barrels of high-quality, ultra-light oil with a gravity of approximately 46 degrees API and additionally 6,407,000 cubic feet of gas since early August 2024

Since being placed on restricted and periodic test production in early August 2024, the Andrews 2-17 well has produced 1,014 barrels of oil and 3,656,000 cubic feet of gas

Total - 8066 barrels, 10'063'000 cf gas

Today (+36 days)
"The successful, now predominantly gas producing Andrews 1-17 and 2-17 wells, forming the Andrews field, in which Union Jack hold a 45% working interest, have to date produced 8,765 barrels of oil and 20,221,000 cubic feet of gas.

...699 barrels = 19.4 bpd
...10'158'000 cf gas = 282k cf per day

[cashandcard] 29/10/2024 07:30

Fighting talk from Big Dave, he certainly not backing down.

[cashandcard] 29/10/2024 07:28

David Bramhill, Executive Chairman of Union Jack, commented: "The management decision in late 2023, to focus on opportunities in the USA has already delivered rewards in a short period and I am pleased to report the imminent spudding of the Taylor well that has a good chance of success."One year on, our entry into the USA is already generating cash flow from the Andrews field and Mineral royalty portfolio where returns of 20%+ are being seen in respect of our original capital investment."The successful, now predominantly gas producing Andrews 1-17 and 2-17 wells, forming the Andrews field, in which Union Jack hold a 45% working interest, have to date produced 8,765 barrels of oil and 20,221,000 cubic feet of gas."In the UK, the Company is pleased to report cumulative revenues of over US$21,000,000 from Wressle, net to its 40% interest, where the view of management is that the most productive phase of development awaits."Also in the UK, ongoing site improvements to the Keddington production asset, where Union Jack holds a 55% interest, are progressing well and production is expected to re-commence during late 2024."Despite the current fiscal uncertainty that overshadows the UK upstream, Union Jack remains profitable and the Board is committed to delivering on its stated growth strategy in both the USA and UK." 

[rwells4474] 29/10/2024 07:13

Union Jack Oil plc("Union Jack" or the "Company")Spudding of Taylor-1 Well, Seminole County, Oklahoma, USA Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF) a USA and UK focused onshore hydrocarbon production development and investment company is pleased to announce that it has been informed by the Operator, Reach Oil and Gas Company Inc ("Reach") that the spudding of the Taylor-1 well ("Taylor"), located in Seminole County, Oklahoma, USA is expected on or around 31 October 2024. Union Jack holds a 45% working interest in this well.

[1347] 28/10/2024 13:51

Captain's very well paid and up on the Bridge, now pipe down you lot down there in Steerage Class.

[likeawalrus] 28/10/2024 12:40

updated but doesnt tell us much

Production Dates Feb 2021 - Aug 2024
Total Oil Production 260,708 BBLs
Total Gas Production 339,913 MCF
Estimated Daily Oil Prod. 139 BBLs
Estimated Daily Gas Prod. 292 MCF
Estimated Daily Water Prod. 0 BBLs
Producing Wells 9

[thetoonarmy2] 28/10/2024 10:11

Union Jack Oil - Can David Bramhill do it again?

Looks like he has, History is usually a good indicator for the future.

[likeawalrus] 28/10/2024 09:56

hopefully Bramhill will drop a spud this week : )

[currypasty] 28/10/2024 09:53

this was friday


Union Jack Oil plc
@UnionJackOilplc
#ujo $UJO #ujogf #OTCQB

*Union Jack holds a 45% interest in Taylor and Moccasin wells to be drilled back to back in Q4 2024!

*Analogue case indicates robust economics on success!

*Structures to the north and east of Taylor were prolific in the
1920s, producing in the thousands of
barrels of oil per day!

*Costs to be paid from existing cash resources!

[currypasty] 28/10/2024 09:30

must be due an update on USA shortly

[likeawalrus] 28/10/2024 08:28

Europa Finals out this morning (placing on the cards) - "assumes an average oil price in 2025 of $81.70 per barrel" unfortunately I cant find any indication of opex for Wressle

[likeawalrus] 27/10/2024 11:19

Wressle - Mar 511 bpd, Apr 436 bpd, May 383 bpd, Jun 356 bpd, July 390 bpd

August data out this Friday. if H2 averages 400bpd (optimistic imo) with poo $65 net, that's $1.872m or £1.44m at 1.3

Sidoti has forecast H2 revenue of about £2.8m (GBP not USD)



We project Wressle will produce about 180 bbl/d (unchanged) net to Union Jack in 2H:24, generating roughly £2.1 million in revenue. The balance of our £2.8 million revenue estimate is based on production from the U.S. The Andrews 1-17 and Andrews 2-17 wells (45% working interest) in Seminole County, Oklahoma, were declared commercially viable in mid-2024 and will contribute to 2H:24 results.

..so Sidoti, big outfit, yet they have clearly confused GBP with USD, there's no way Wressle revenue in H2 will be £2.1m, they have also claimed that Wressle has "generated more than £20m net to UJO", that should be USD20m

GBP/USD error aside, Sidoti says US assets will generate £700k in H2, they obviously mean $700k, which IF accurate bodes very well for our US assets...

PS imo US revenue in H2 will be significantly less than $700k, closer to $400k

[uggy100] 26/10/2024 21:09

Should read revolt not result.

[uggy100] 26/10/2024 15:03

law it's his standard modus operandi. It's now reached the point where shareholders are now in result which is why he's gone into hiding. Trying to update on X isn't good enough. Out with the rubbish.

[likeawalrus] 25/10/2024 15:14

this is what was said about Taylor in the Interims...absolutely pointless

Historically, there have been several regional high-profile producing fields such as North East Tibby (1,600,000 bbls oil), Gray (6,000,000 bbls oil) and West Burnett (1,200,000 bbls oil).

[1347] 25/10/2024 14:30

Structures to the north and east of Wressle were prolific in the 1990s, producing in the millions of barrels of oil per day!

Yeah, the North Sea offshore fields, see easy to play that game isn't it.

[markfrankie] 25/10/2024 12:23

Law I believe David Bramhill thinks the same as Teeling... 'look in the right vicinity' *location location* if the area has history that is relevant.

Toon don't get me started :-/ on our nonsensical uk government. All the best mf