Union Jack Oil Share Discussion Threads

[moneymunch] 26/8/2019 19:51

There's commercial and transformational....the BoD appear to be very excited, although until flow test results arrive, everyone invested is hoping for the best. Gl ;-)

28/6/19

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."

[computercoders] 26/8/2019 16:37

How many BoPD do we need to see in the results for it to be deemed commercial (for the oil)?

[computercoders] 26/8/2019 16:36

I got 0.2p from the ex Daily Mail financial reporter's article - can't find it now.

[bionicdog] 26/8/2019 16:25

The gas alone is conservatively valued at 0.335p.

[computercoders] 26/8/2019 16:06

I meant 0.20p is worse case scenario as I see it. So a base if you will. I'd be hoping for 1p+ on successful spud

[fastballfifty1] 26/8/2019 15:51

I was more hoping for 2p a share ! Some of the longer termers on here may remember what happened to Victoria Oil and gas many many moons ago 😀

[computercoders] 26/8/2019 15:09

According to my research the gas alone values the company at 0.20p per share. Does anyone else come up with that figure?

[theblackbaron] 26/8/2019 07:40

He badly needs the post office ha ha

[theaviator] 25/8/2019 20:09

And thirdly. Know when to 'get out'. I never take more than a 20% hit on ANY share.Hope this helps you last a little longer. All only my opinion.

[theaviator] 25/8/2019 20:03

Two other good little rules. Always put your profits aside & secondly always leave enough for a second position in any one punt "just incase." Sell the second position back up to the first one.I've seen even former IFAs who punt on aim that have zero rules. Stupidity and greed! Think wisely & best of luck to you!

[computercoders] 25/8/2019 19:31

Theaviator good answer thanks mate

[theaviator] 25/8/2019 19:27

With any oiliy carries risk. Am an eggs baskets type so I would never be in just one share. Imo that's a recipe for disaster.

[computercoders] 25/8/2019 18:01

Ok I'll read between the lines and put it in PRD then lol

[currypasty] 25/8/2019 18:00

cash ISA that is, with the post office?

[computercoders] 25/8/2019 17:45

Theaviator if you coud only be in PRD or this which one would you choose?

[theaviator] 25/8/2019 17:35

I've a lot in here RBD and PRD - those my oilies for now. I3e be worth a throw if goes a bit lower too but not bothered if miss that one.

[bionicdog] 25/8/2019 17:31

How about an ISA?

[computercoders] 25/8/2019 17:18

This or CLON or ALBA? What do you think I should put £20k in?

[lunus1] 25/8/2019 11:17

Lageraemia. That was funny lol. I think over the coming weeks the last thing they are going to be worrying about is money. Transformational news within four weeks imo.

[lageraemia] 25/8/2019 11:08

Hey Barry, even a stopped clock is right twice a day.......that's way better than your strike rate right now.

If you keep asking 'when's the next funding coming' every week for the next 2 years, you might be right eventually.

They've got £2m in the bank....

[moneymunch] 25/8/2019 07:26

Union Jack Oil
‏ @UnionJackOil
20h20 hours ago

FROM THIS WEEK OPERATIONS AT WEST NEWTON 2 WELL : Coiled Tubing and Well Head #WestNewton #UJO #PEDL183 #Oil #Gas #WNA2 #EastYorkshire

[moneymunch] 24/8/2019 15:44

Looks like UJO have confirmed that the well is flowing. Gla ;-)


Union Jack Oil
‏ @UnionJackOil

FROM THIS WEEK OPERATIONS AT WEST NEWTON 2 WELL : Watching the Pressure Gauges during Flowing the Well #WestNewton #UJO #PEDL183 #Oil #Gas #WNA2 #EastYorkshire

[uggy100] 24/8/2019 14:08

FWIW I cant fault Rathlin over their planning on this EWT, they've pulled all the stops to ensure it's success as I'm sure it will be.