Union Jack Oil Share Discussion Threads

[currypasty] 29/8/2019 12:35

"proper M&A speculation"

watch out for a Bid one morning, without notice... that will value the company properly, not mm's and punters

[currypasty] 29/8/2019 12:34

Thanks to Malky's blog



Reabold Resources/Union Jack

An operational update from West Newton this morning and although the potential of a liquids find had been flagged this looks to me like a genuinely company making discovery for both companies.

The companies confirm that analysis and initial testing have led them to believe that West Newton project represents ‘a significant oil & gas discovery rather than the gas discovery originally anticipated. This is because the overall HydroCarbon column of 65 metres comprises a gross oil column of approximately 45 metres underlying A 20m gas column in the Kirkham Abbey interval.

The most important read into this announcement is probably the fact that they are very keen to get the CPR updated which will address the volumes that the partners cannot yet quantify although the positive language speaks for itself. ‘This is now an oil project’ and the technicals that we have here are worthy of serious consideration of a highly valuable UK onshore oilfield. In addition, the data from this well so far validates the 3D seismic over the entire West Newton project and with the next well targeting the deeper Cadeby formation could ‘add significant resource upside’.

With the partners now confident of a cracking discovery at the A-2 well the running room in the rest of the licence means that for both companies there is much more upside than has been demonstrated by the market today. For example the market cap of Reabold could be multiplied if all the potential upside is proved and I have no reason to believe not, this is getting into the territory for proper M&A speculation which I for one wouldn’t rule out for one minute. Onwards and upwards….

[wisteria2] 29/8/2019 12:23

Thanks lager, so a porosity of 15% in limestone with natural fractures should flow very reasonably!
Share price will rise from here having flushed a lot of traders out imo. gla holders

[currypasty] 29/8/2019 12:14

I think its getting ready for a bounce

[lageraemia] 29/8/2019 12:02

Carbonite limestone I seem to recall - hence the acid well prep.

hxxps://sp.lyellcollection.org/content/465/1/119

[cashandcard] 29/8/2019 12:02

Maxwell,


Forward selling by institutions in knowledge they will get their positions back. This sometimes happens IF they are privy to a placing doing the rounds and trading in the equities of the placee has not been suspended. That sometimes explains the abundant supply, not suggesting that is happening here...


Cash

[wisteria2] 29/8/2019 11:57

Anybody know what type of rock the west newton discovery is?

[lageraemia] 29/8/2019 11:54

"Somebody is supplying plenty of shares, otherwise it would need to raise sp
to tempt a few sellers..................."

It's insiders with institutional shares who know there's a placing coming selling above 0.295, because they know they can buy them back cheaper in the near future.

This has happened time and time again.

Its NOT Chris Oil who is NOT being fed inside information from UJO board judging by his social media posts and lack of TR1 saying he's selling.

[maxwell] 29/8/2019 11:50

Somebody is supplying plenty of shares, otherwise it would need to raise sp
to tempt a few sellers...................

[lageraemia] 29/8/2019 11:47

BMD called it right.

The institutions were pre-briefed by Raithlin. This RNS adds nothing new to what Dan said.

The next RNS will be 'over subsrcribed placing of another £2m at 0.295' judging by the price action.

Chrisoil hasn't put out a TR1 and isn't the seller - he's not a fraud (failing to put out a TR1, especially in light of his social media posts, would be criminal). I'd caution posters not to libel him on boards as there's no evidence Chris is selling.

The culprit here is the usual city spivvy 'institutions' and their bent casino culture. Too many PIs have been robbed by this behaviour in the past 10 years. There aren't enough of us left to collectively set the value of a company based on fundamentals, let alone hype.

[1oughton] 29/8/2019 11:34

chris oil selling in the background ?

[wisteria2] 29/8/2019 11:32

A flow rate of 35apr oil at a 1000 bopd and any raise will at a much higher price!

[bionicdog] 29/8/2019 11:29

I meant for sells.

[currypasty] 29/8/2019 11:22

just typing mine up

[bionicdog] 29/8/2019 11:21

Expecting a couple of TR1s.

[ileeman] 29/8/2019 11:16

Not looking to step on anyone toes Currypasty but that cash was only to see them through the current testing phase they dont have enough to pursue further testing/drilling which looks like a certainty.

I will leave it as that.

[markfrankie] 29/8/2019 11:06

Bionicdog and all holders.... what a brilliant piece of news today !
I feel we can sit back and enjoy the ride now. Ups and downs but this is really only going up to a re-rate

[currypasty] 29/8/2019 11:05

people seem to forget ujo raised £2.25 mil 2 months ago

[markfrankie] 29/8/2019 11:03

Uxbridgearms let's hope so as they are already fully funded for all assets so that would mean they are buying more of WN or Wressel ... which would be GREAT fingers crossed your right as UJO are always over prescribed .

[bionicdog] 29/8/2019 11:02

How did your last prediction go Uxbridge?

[ileeman] 29/8/2019 10:59

I think the issue for UJO is for them to drill/test further they need to raise more cash, I dont see this as a bad thing because once they have cash market will buy it up.

[uxbridgearms] 29/8/2019 10:56

Needs more money placing coming.

[likeawalrus] 29/8/2019 10:54

just bought a mil at .3 very surprised!