Union Jack Oil Share Discussion Threads

[atino] 04/8/2019 14:49

So basically...



(Quote 9th July) "Is Union Jack Oil at 0.28p, now worth 0.55p ??? " [amended & "hell no" LOL 😉🙇‍♂️]


- Caveat 1: share price Angel which produced this note is house broker to Union Jack Oil (UJO) so is biased.

- Caveat 2: Zac Phillips no longer works at share price Angel and the new analyst is not fit to lick Zac's boots.

- Caveat 3: Chris Oil owns stacks of these shares and will sell into any spike while urging others to buy like the dirty little spiv he is. Having said all of tha,t I can't fault the logic of this detailed note 😂 !

[atino] 04/8/2019 14:33

If "tings" are looking "so great"....then why did "GP (Jersey) Ltd"...bail/de-risk, in recent times 🤷‍a94;️ ??



...but then shortly after (...to re-instate "confidence" & good will)...the grant/or award of Share Options....came...from management ??



HERE'S A "CATCH 22" FOR ALL YOU'S....(what's more important in precedence)...


"institutional investor" confidence....or "directorship/management" confidence ???

[atino] 04/8/2019 14:25

Let's see....how [and by how much!] your..."PAID FOR SERVICES" (LOL)...has RAMPED...you's all up by 😤🙇‍♂️😉



[Snippet]

• On the back of this successful appraisal well result we feel comfortable reducing our risking on West Newton and also including a contribution from the liquids column to our valuation. We are resuming research coverage with a DCF-based target price of 0.55p/share, or nearly 3x the current share price. It should be stressed that we believe there remains considerable upside from here, albeit subject to the outcome of the EWT.

•The EWT is expected to give much greater clarity on the quality of the liquids as well as the reservoir characteristics. Moreover the deeper Cadeby Reef target also had hydrocarbon shows and will be further tested by a future appraisal well, likely the West Newton B well, and potentially before the end of the year as it already has planning permission and funding. West Newton B is located some 2 kilometres south of West Newton A-2.

•In terms of what investors should be looking for from the EWT which should commence around early to mid-August, we understand that a conventional vertical carbonate well with appropriate porosity and permeability could flow at rates of approximately 100 – 150 bopd which could translate into 5 – 8x that amount in the context of a future long-reach conventional horizontal development well.

•The original budget for the West Newton A-2 well was £4.6 million, with UJO liable for £1.15 million of this. It is understood that the well took around 50 days to drill and core versus the original estimate of 40 days, although it was still completed within budget. The over-run was largely down to the extensive coring and logging that was undertaken on the well.

• The operator of the licence, Rathlin Energy, has commissioned Deloitte to prepare an updated Competent Persons Report (CPR) to incorporate the results of West Newton A-2 and the upcoming EWT. This could see a material increase in the NPV10 from the >$300 million that Rathlin estimated for the West Newton project prior to drilling the success at West Newton A-2.

• In terms of future prospectivity on the PEDL183 licence, it should be noted that the West Newton structure covers an area of around 4,800 acres, within a licence of 176,000 acres. The company believes there is significant upside in the remainder of the acreage, with a number of exploration prospects significantly de-risked by the result of this well.

• UJO also has a 27.5% stake in the Wressle discovery in nearby licence PEDL180/182, which is an ongoing oil development project. Whilst relatively small (2.5 million barrels of 2P + 2C), the project could generate valuable cash flow for UJO in 2020 if planning approval is granted.

• Following the £2.25 million equity raise announced on 28 June, the company is now in a strong position to progress West Newton. The company is now fully funded for the EWT, which should commence in early to mid-August. The estimated cost of the flow test net to UJO is around £0.7 million and initial results could be as soon as late August 😉🙇‍♂️

• Valuation: On the back of this successful appraisal well result we feel comfortable reducing our risking on West Newton and also including a liquids column element in our valuation.

• This has the impact of increasing our target price from 0.44p/share previously to 0.55p/share, or nearly 3x the current share price 😂. It should be stressed that there remains considerable upside from here, subject to the outcome of the EWT.


Conclusion:

Whilst there are still questions to be answered around this successful appraisal well following the original West Newton discovery, the appraisal well is causing considerable excitement for the joint venture partners and their investors, and rightly so.
This could be one of the most significant onshore discoveries made in the UK in years, if not one of the largest ever. With the EWT commencing in August, there could be a material near-term catalyst for the UJO share price.

An updated CPR fully incorporating the results of the coring, well logs, re-mapping of the reservoirs and the EWT in Q3 or Q4 could provide a further catalyst.

There also remains the possibility of a West Newton B well being drilled before year-end, targeting further upside from the Kirkham Abbey gas and liquids discovery as well as the deeper Cadeby Reef exploration prospect that is a 79 million barrel oil target.
*SP Angel acts as Nomad and Broker to Union Jack Oil PLC

[atino] 04/8/2019 13:32

“Campaign̶1;...all you like 😤 (...I’m sure “many”...have seen it all before 😂😚😘 !) LOL 😜



But when the chart starts tipping...(and you start whistling 😗...moaning...defending...and then eventually...DUCKING) 💭💭💭🤗 Then “we” shall start TALKING 😤😘...

[guesswhosback2] 04/8/2019 13:23

I dont know so maybe someone can explain why people like to decamp and mostly make fools of themselves? I'm not sure what monetary value it holds
I doubt they are short as you need big money to trade in leveraged markets. So what's the point?

[moneymunch] 04/8/2019 12:50

17th June 2019

Union Jack Oil* (UOJ) report a highly successful appraisal of West Newton onshore UK discovery partnered with Rebold

Reabold describes it as potentially the largest UK onshore gas field and the largest hydrocarbon discovery onshore UK since 1973

Crucially a significant liquids component identified

Extended well test now planned for Q3

Previously CPR assigned $247m of gross value, equiv. £33m net to UJO

This could be a genuine game-changer.

[atino] 04/8/2019 12:31

Let’s see 👀 if you’s...have another (3rd) attempt/or assault...over 0.30’s 🙇




Or is this “wrenched board” (and it’s members!)...running out of “puff” or things to say 💭💭💭....LIKE THIS CHART perhaps is !😳🥺🏄‍ϓ4;️ 🤷🏻‍♂️

[atino] 04/8/2019 12:19

...or tell me something...that I do not know ! 😉💭💭💭

[atino] 04/8/2019 12:18

Maxwell - please speak 🗣 your mind 🧠 (...I didn’t quite catch that)...

[atino] 04/8/2019 11:31

Hmmm...interesting lead 🙇🤔💭💭8173;



...from 5.6%...to de-risking & bailing... under 50% of their original holding (...leaving less than...3% 😉)


...guess I should take the queue 💭💭💭 or the bait ? 🤷🏻‍♂️ Both feet 🦶 in ? what say you’s 🗣👥

[1985million] 02/8/2019 21:33

What potential does this stock have should all go well november

[moneymunch] 02/8/2019 21:19

He He He Antino, you had similar thoughts on Ukog's chart c1p, just before it headed off to double figures......Remember??? Ho Ho HO ......On and UP!!! ;-)

[bionicdog] 02/8/2019 19:38

Rathlin 14 day notice of EWT was put in on 24th July , so they could potentially start on Wednesday.

[atino] 02/8/2019 19:19

What say you’s 🤷🏻‍♂️ 💭💭💭


...apex ^ people ??


*__^

[atino] 02/8/2019 19:14

Good evening “wretched̶1; board 😉


...dunno much about this...UJO share 💭💭💭


But I sure am loving 🥰...”the looks” 👀 ...of this chart 🏄‍a94;️ ! 🙇

[guesswhosback2] 02/8/2019 18:24

Thank you. Interesting. The last trade was a pre order from me at 0.27 which was closed then reopened and filled.

[bionicdog] 02/8/2019 16:55

Uncrossing.

'UT ' Uncrossing Trade
This is used for the single uncrossing trade, detailing the total executed volume and uncrossing price as a result of a SETS auction.

[guesswhosback2] 02/8/2019 16:55

What is a UT trade?

[moneymunch] 02/8/2019 16:40

Cheers wisteria it caught my eye a while ago and was planning to get in earlier, but still a way to go with so much upside potential as expected good news rolls in. Gl :-)

[wisteria2] 02/8/2019 16:09

Holding a few myself for some time! don't think you will go far wrong with these moneymunch gla

[bionicdog] 02/8/2019 16:06

Don't worry Lager , it's all in hand.

[ragnarr] 02/8/2019 15:25

As Joseph Goebbels once said

'Repeat a lie often enough and it becomes the truth'

That,s the philosophy - unfortunately it does work sometimes:-(