Union Jack Oil Share Discussion Threads

[wba1] 08/10/2019 17:58

UJO should have dropped to its base level at 0.18-0.20p. Reabold have paid circa £23m for 26% of WN, valuing UJO's 16.6% at £14.7m. Before the WN drill UJO traded at a base of 0.085p, representing a market cap of £10.2m. Since then additional value has been added by the raising of further funds (UJO now has circa £1m extra cash compared with at the time of the 0.085p), Wressle risk has been reduced by the withdrawal of council objections, and Biscathorpe prospects have improved. If you assume that the improvements/additional value ex-WN roughly balance the value ascribed to WN in the pre-drill market cap, then the base value of UJO is £24-25m, based on a combination of the market price for WN demonstrated by RBD, and the pre-drill market cap.

Of course, a strong CPR, successful WN B drill or production permission for Wressle should see it increase in value from this base. What is not obvious is why it would go materially lower, given the clear combination of established values recently given to its assets by the market.

[jammydodger1] 08/10/2019 17:41

Expect to see a further drop tomorrow Rbd placing not great

[maxwell] 08/10/2019 15:22

If only further funds available - must ask the other half for
a short term loan maybe?

[bakedbean] 08/10/2019 15:06

Get rid soon as the big sell announced

[bearbulls] 08/10/2019 14:49

0.15p bottom ???..........possibly it will all depend on rbd book building

[atino] 08/10/2019 14:41

...nearly 40-50% valuation wiped off (from its high in the mid 0.30’s)...and “Atinos” bloody UPSET 😢 😠 😡 Oh how I would have LOVED 💕 to have taken a punt on THIS...UJO SHARE ! 😤🤦‍♂️

[atino] 08/10/2019 14:30

...what did yous...get HIT with ???

[atino] 08/10/2019 14:28

Good afternoon bb - hows the life support machine going ??


Pulse (check)...machine calibration (check)...but still bloody unconscious ! Musta been some bump on that head...

[maxwell] 08/10/2019 12:42

250mil traded so far today & +186 trades at average over 1 mil & you say a 45mil of a cliff yesterday... don�t think so as the only one effected will be the MM & bet a shilling to a pinch of ## he finished on a profit...

[enter] 08/10/2019 12:33

That 45 mil trade has the wrong time on it guaranteed. That was a 45 mil sell early yesterday which sent the share price off a cliff.

[likeawalrus] 08/10/2019 12:16

curry that was me, I found some loose change down the back of the sofa :)

[currypasty] 08/10/2019 12:05

45 mil trade just showing.. @0.2375

[likeawalrus] 08/10/2019 11:21

"Proceeds from the Placing are intended to be deployed into what Reabold believes are highly accretive investments in Rathlin and Danube, at significant discounts to the value of the respective operators' discovered resource estimates, with the Placing proceeds used to fund further drilling and testing programmes to unlock further value potential."

[bionicdog] 08/10/2019 10:48

RBD obviously think that they're getting a bargain , otherwise they wouldn't be doing it. Rathlin seem to need the readies. Also , Wressle should be worth a bit more next month.

[currypasty] 08/10/2019 10:39

"Wressle and Biscathorpe for �9mm ...seems about right for now "

in you opinion, not mine! Both projects significantly undervalued atm, imo

[rnstranslator] 08/10/2019 10:29

RBD have agreed to pay £23mm (7+16) for an additional 39% of Rathlin.That values Rathlin at £60mmTheir only asset is WN so that values 100% of WN at £90mm.UJO share of WN therefore is currently valued by folks that have ALL the info at £15mm.Current mkt cap is £24mm, so you get Wressle and Biscathorpe for £9mm ...seems about right for now ..until greater public clarity on the liquids volume, and flow rates....sellers aside that's really why the share price has fallen...

[maxwell] 08/10/2019 10:23

Busy day, not surprised at this price....

[atino] 08/10/2019 08:51

0.19 support...about to be RE-TESTED...(even possibly by tomorrow!)


Crucial times ahead:-)

[atino] 08/10/2019 08:28

the spirit of truth...is always about:-)

[ccr1958] 08/10/2019 08:23

He not doing very well...... placing coming ?