Union Jack Oil Share Discussion Threads

[bionicdog] 10/2/2021 09:05

I remember it being 2 million.
Telbap
You are being ridiculous , they haven't spent 5/6million on drilling since last available cash balance.

[grannyboy] 10/2/2021 09:00

Didn't realise it was £2m on first oil at Wressle was thinking it was £200k? for some reason.

[telbap] 10/2/2021 08:59

Btw I am a holder, I just see the position from glass half empty

[telbap] 10/2/2021 08:59

@grannyboy......how many drill rigs have ujo currently got running?I would say DB has burnt thru maybe half your 5/6m I reckon about 2/3m in the bank currently. He needs this well to flow and flow well....

[currypasty] 10/2/2021 08:54

Thanks granny
I thought it was 2m on first oil though (which comes back to about 6m left)

[grannyboy] 10/2/2021 08:52

In the half year results(14/9/20) they had £5.2m. They raised £7m on 17/9/20. They invested £100k in Kelsey(14/10. Loaned Egdon £1m(26/11. Purchased Humber oil % for £500k, with a further £500k on approval from Lincs c.c. They have to payup , £200k? I believe on first oil at Wressle . So they've splashed out £2.3m.. .. plus office running costs.

Between £7.5-£8.5m still available in bank.

[currypasty] 10/2/2021 08:41

indeed, they were looking to raise 2.5, so you would have thought someone would have done some budgeting, and come up with a figure that was required. Theoretically they should have more than enough.....
bionic. continued on other thread

[bionicdog] 10/2/2021 08:40

Curry
If it's legal other than for prescribed medical use , then they must have taken the good stuff out.

[bionicdog] 10/2/2021 08:37

It's not that easy as we don't know if the fee due on first Wressle oil has been paid yet. They will also get a million plus interest back from Egdon an 15 months time. They must have enough to get through to B2 drill and test if it gets that far. They didn't even want to raise as much as they did last time.

[telbap] 10/2/2021 08:35

Lol no RNS no share price rise, market been caught to many times by DB interviews. The man has got to see he needs to get solid legal info into the market. How long can it take to clean up a well of this size ?

[currypasty] 10/2/2021 08:32

likeawalrus, ive seen £6m in writing somewhere, ill look later

[currypasty] 10/2/2021 08:31

Bionic, yes mate, however, legal cannabis inhalation from soon to be listed (next Tuesday) Kanabo research is the way to go


Im expecting this to be a hot sector, and KBN (kanabo) is the first out the blocks

[likeawalrus] 10/2/2021 08:29

any thoughts as to how much cash ujo currently has?

[bionicdog] 10/2/2021 08:24

Still off the booze Curry?

[currypasty] 10/2/2021 08:22

personally I think something will be sold before the cash runs out, and a big divi will be paid to shareholders.. pass me another spliff

[likeawalrus] 10/2/2021 08:03

bb, my guesstimate is ujo has about £5m-£6m cash, plus IF wressle flows at 200bpd then an extra £200k per month, so if the share price starts inexplicably dropping sometime in the next few weeks/months, we can be fairly confident that another placing has been leaked, if I see that pattern I will drop my shares fast.

[bakedbean] 09/2/2021 21:19

What's the problem with this share ! It won't take off ... why is that, btw u know all the extra work been planned at WN, how much more funding is it going to take ... can the Wressle oil take care of the funding .. 500 bpd .. how much a barrel do they make again .. 7 days a week .. just thinking out aloud ...

[bionicdog] 09/2/2021 18:32

I'm not watching it again!

[currypasty] 09/2/2021 14:49

such a shame the shareprice doesn't reflect the potential value of the asset..

[bionicdog] 09/2/2021 14:41

Something that I've picked up on is that it sounds like they're very positive about the oil at WN , rather than it just being gas with a bit of oil. All sounding good.

[mittenator] 09/2/2021 14:20

Didn't really expect them to ask my question (Live Q & A Reabold)about their view on UJO current share price lol ... but we got a mention!

[sm22] 09/2/2021 13:57

Did you buy 1 share @ 0.179 timed @ 13:54:44

[maxwell] 09/2/2021 12:35

David’s interview earlier:

[likeawalrus] 09/2/2021 12:29

the market works in mysterious ways...DB gives a very positive unicorns and rainbows interview and the share price falls...scratching my head here...