Union Jack Oil Share Discussion Threads

[therealapplegarth] 22/8/2019 16:28

Gutter AIM stocks like this burn cash quick and wouldn't surprise me if ANOTHER CASH CALL SOON "PLACING" LOL

[therealapplegarth] 22/8/2019 16:27

UP YOURS "bid1ckdog"

[moneymunch] 22/8/2019 16:24

Lol...they've just had one Trigger..;-)

28 June 2019

Union Jack Oil plc

("Union Jack" or the "Company")

Oversubscribed Placing and Subscription to raise GBP2.25 million

Union Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon production, development and exploration company, is pleased to announce that it has raised GBP2.25 million by way of a placing and subscription of 1,323,529,411 new ordinary shares of 0.025p each ("New Ordinary Shares") at a price of 0.17 pence per New Ordinary Share (the "Fundraising"). The Fundraising comprises a placing of 1,199,411,764 New Ordinary Shares ("Placing") and a subscription of 124,117,647 New Ordinary Shares ("Subscription"). share price Angel Corporate Finance LLP acted as sole broker on the Placing.

The proceeds will be used principally for the planned Q3 2019 extended well test following the successful West Newton A-2 appraisal well and to provide additional working capital.

David Bramhill, Executive Chairman of Union Jack, commented:

"Following the successful result at the West Newton A-2 appraisal well, the Board has raised additional equity capital to progress the previously announced long-term production test, scheduled to commence in Q3 2019.

"The Board is delighted with the result of the oversubscribed Fundraising and, given current testing equity market conditions, would like to thank our existing shareholders for their continued support and welcome new investors to Union Jack.

"Given the successful West Newton A-2 appraisal well result, and our improved financial position resulting from this Fundraising, we keenly await the results of the planned extended well test in Q3 2019 that will be expanded to test the liquid and/or gas intervals evident in the well. If the planned extended well test is successful, West Newton could be transformational for Union Jack and deliver growth in reserves, production and shareholder value.

"The directors are extremely confident about the future prospects for Union Jack and look forward to updating the market on developments at the West Newton production test and its wider portfolio."

[maxwell] 22/8/2019 16:10

Today definitely an improvement over a slow yesterday!!!!
Plus a bank holiday coming up to get out & about.

Roll on the next few weeks & enjoy the fun....

[moneymunch] 22/8/2019 15:56

Flow testing commenced earlier today, RBD make an additional £1m investment and the flare stack is already ablaze.....all bodes well...Gla ;-)

[bionicdog] 22/8/2019 15:33

Don't worry Uxbridge , it probably isn't really happening.

[theaviator] 22/8/2019 15:33

Took another chunk. That'll do here now. Nicely placed in both ujo and rbd.Looks like it's all coming together nicely

[bionicdog] 22/8/2019 15:24

22nd August 2019
West Newton Operations Update
The flow testing of the WNA-2 well commenced earlier today.
The well test programme is scheduled to continue for the next 4-8 weeks.
The necessary regulatory permissions and consents are in place for this test.
Additional information regarding the test programme will be made available once the relevant data has been collected and analysed.

[likeawalrus] 22/8/2019 14:46

there's an old saying - "empty cans rattle the most" - you know who you are :)

[wisteria2] 22/8/2019 13:26

12 august update states ...

Over the coming days, the West Newton A-2 well will be equipped for the perforation/completion of a select interval within the Kirkham Abbey conventional reservoir.

[wisteria2] 22/8/2019 13:21

Maybe they are testing the deeper target first. then the main target.....
A net 65 metre hydrocarbon saturated interval has been encountered from within the Kirkham Abbey formation indicating a substantial hydrocarbon accumulation, including a significant liquids component.

deeper target...

The well also encountered hydrocarbon shows within the deeper Cadeby formation, a secondary target. The intersection is consistent with the West Newton A-1 well from which an oil saturated core was recovered. This is highly encouraging, and the formation is planned to be intersected in the future from the West Newton-B well location, where optimal reservoir development is expected, and planning permission is already in place.

[7rademark] 22/8/2019 13:01

No reason to drop the bid, they are struggling for stock

[currypasty] 22/8/2019 12:51

well it isn't gas is it?

looks like diesel

[kirtonender9] 22/8/2019 12:26

Very bullish chart and Tweeted earlier today.https://twitter.com/tads99/status/1164438810442289152?s=19

[moneymunch] 22/8/2019 11:50

Looks like the real deal wisteria....a potential game changing UPdate could be imminent. Gl ;-)

[wisteria2] 22/8/2019 11:50

Expect a sustained and substantial rise in the SP!

[wisteria2] 22/8/2019 11:47

MM Gosh that looks great! would be twice that if not blowing a gale!!!!

[moneymunch] 22/8/2019 11:28

Why does black smoke come from the flare? Black smoke from the flare can occur when burning large amounts of excess gas and especially if the flared material contains heavier hydrocarbons.

Smoke:

Sometimes, a white cloud may be observed around the flare. It is actually steam that is injected into the flare system to support clean combustion.

While we strive to achieve smokeless flaring, it may not always be possible during operational situations.

On some occasions, there may be black smoke from the flare.

The smoke, which is mainly made up of carbon particles, occurs when there is insufficient amount of air to support a complete combustion.

This may happen when there is a sudden release of excess gases to the system with a delay in response before sufficient steam can be supplied to the burning process.

Steam is usually added to the gases to increase turbulence in the gas flow. This increases air intake that helps to achieve complete combustion and smokeless flaring.

[lageraemia] 22/8/2019 10:38

How do you make methane SMOKE?? You must really be choking the airflow to the flare surely?

Alternative explanation would be more carbon atoms per molecule........condensate?