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UJO Union Jack Oil Plc

0.00 (0.0%)
07 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Union Jack Oil Plc LSE:UJO London Ordinary Share GB00BLH1S316 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 20.75 158,978 08:00:00
Bid Price Offer Price High Price Low Price Open Price
20.50 21.00 20.75 20.75 20.75
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 8.51M 3.61M 0.0320 6.48 23.39M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:29:44 O 23 21.00 GBX

Union Jack Oil (UJO) Latest News

Union Jack Oil (UJO) Discussions and Chat

Union Jack Oil Forums and Chat

Date Time Title Posts
07/12/202310:41Moderated Union Jack Oil Thread21,698
23/11/202309:56Union Jack Oil - Can David Bramhill do it again?10,533
06/2/202307:22UNION JACK OIL7
11/11/202215:59UJO sycophantic thread32
07/11/202207:30Financial Fox. All eyes on UJO. The small-cap oil stock sets to wow investors.20

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Union Jack Oil (UJO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-07 16:29:4621.00234.83O
2023-12-07 16:05:5020.584,8901,006.12O
2023-12-07 15:21:3621.003,606757.26O
2023-12-07 14:05:2220.745010.37O
2023-12-07 14:00:1720.807,2291,503.63UT

Union Jack Oil (UJO) Top Chat Posts

Top Posts
Posted at 07/12/2023 08:20 by Union Jack Oil Daily Update
Union Jack Oil Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker UJO. The last closing price for Union Jack Oil was 20.75p.
Union Jack Oil currently has 112,715,896 shares in issue. The market capitalisation of Union Jack Oil is £23,388,548.
Union Jack Oil has a price to earnings ratio (PE ratio) of 6.48.
This morning UJO shares opened at 20.75p
Posted at 16/11/2023 10:40 by likeawalrus
perhaps he's waiting for Wressle news like the rest of us? or maybe he's looking for another farm-in - waddock cross? more WN? (I hope not), Colle Santo? more Bacon?

ujo (mcap £22m) has a very nice cash position but europa (mcap £11m) looks like better value for money at the moment imo. reabold could be the dark horse, it all hinges on the Shell payment, if the £9m is received I suspect the share price will be back to 0.3 by Christmas. it would also be good news for ujo as the Shell cash allows rbd to bail out rathlin ...if only I had a crystal ball!
Posted at 14/11/2023 15:46 by currypasty
some posts on LSE... they are not happy..

"So once again we have a small rise after good news before the share price falls back to its previous level after only a few days.
Until there is a big shake up of this dozy company, nothing will change and it will only ever be a trading share for the 10%ers.
No credibility for long term or institutional investors.
What exactly are the directors doing ? (In the morning obviously, as we all know they have a nap in the afternoons)."

" Sorry, I mean Bramhill, has to go….. give it up man, we need someone with drive, ambition etc. not some guy who should have retired 10 years ago…. Until there’s a change at he top, UJO will continue this lethargy"
Posted at 08/11/2023 08:55 by likeawalrus
agreed, bisc, wressle, poo, all excellent news for UJO but imo the poor share price is not "AIM losing its cred." it's widespread lack of trust in Bramhill
Posted at 07/11/2023 08:44 by 1347
I don't know how many times these things have to happen before people finally get the message. It's in the interests of directors to drag things out, they get paid either way, there is no incentive for them to do otherwise, hence why I now call them can kickers. They also get paid whether they succeed or fail.

It's not just UJO, other AIM companies are the same, basically they are tin pot companies existing mainly to fund directors' lifestyles. If they don't generate enough revenue to do that they tap funds from the London Laundromat. I notice Reabold are now getting called out by this Kamran chap for the same issue, i.e. not delivering share holder value. The only thing you can do is vote with your feet and put your money where you get a better return, hence why the share price is where it is.
Posted at 12/10/2023 14:14 by likeawalrus
Bacon Energy has a placing and the share price has a strong rise, UJO has a placing and the share price drops - not once, not twice, three times - go figure!
Posted at 19/9/2023 12:25 by abailey
It makes me larf when they talk about the buyback returning value to shareholders whilst knocking a third off the price. No wonder the share price is in the doldrums with such BS being peddled. Can hear Heidi behind it all! $300 per barrel, share price 100p perhaps more.
Posted at 15/9/2023 18:49 by likeawalrus
my alternative view...

UJO's onshore UK assets continue to disappoint despite endless promises of drilling year after year. Not only has UJO said Keddington "will be side-tracked this year" for the past 3 years, it has included Keddington's drill costs in 3 placings.

Meanwhile North Kelsey is a non runner due to an arguably erroneous planning application by the operator. The same operator that finally submitted an EIA screening request for the Wressle pipeline 16 months after it first announced the 600m pipeline for GTG. Consequently a pipeline is highly unlikely to be in place before 2025. The operator has also quietly dropped the plan for a gas-engine to supply power to a local business.

Biscathorpe is jammed up waiting for an appeal decision which is now in its 12th month. Talking of jam, West Newton is the never ending story of jam tomorrow which has now become jam next year due to Rathlin's lack of cash.

UJO's David Bramhill has blamed a hostile local & central government environment for new O&G exploration, carefully avoiding any criticism of the operators. Political hostility is his justification for searching for new opportunities in mainland Europe, let's hope any new investment is more successful than his first overseas venture with Elephant Oil.

On the bright side UJO has no debt and a very substantial bank balance, Bramhill's investment in Egdon shares has proved to be very lucrative as has the Royalty (apparently). The recent buy backs were popular with many shareholders as the share price responded favourably once the buy backs were implemented more aggressively. Unfortunately they stopped in late June with no explanation from the company.

A modest Interim dividend was expected by some but has not been forthcoming, however we may see a Special Dividend after the settlement of the Egdon takeover.

Major milestones in the short term are the eagerly awaited Wressle CPR, completion of the jet pump with the expectation of increased production and finally, a successful Biscathorpe appeal. Union Jack is currently well funded for significant developments at WN, Wressle, Keddington and potentially Biscathorpe, however a major overseas investment may require a placing should current projects fall into line simultaneously.

UJO is a good invetsment at 20p however caution is advised.
Posted at 15/9/2023 17:10 by maxwell
Sharetalk article

Increased drilling and development activities throughout Union Jack Oil PLC (AIM: UJO)’s onshore UK assets could significantly enhance its stock value, as indicated by share price Angel.

A side-track well for infill drilling at the Keddington field (55% WI) has received planning approval, and the acquisition of equipment and services is on track, with the start of drilling projected for late 2023 or early 2024.

Regarding West Newton (16.7% WI), the main operator is engaging in financial discussions with third parties, looking forward to a horizontal appraisal well around the first half of 2024.

The Wressle oilfield in Lincolnshire is set to generate revenue in the mid-term, which could potentially lead to more direct benefits for shareholders and expansion, potentially branching out from its primary onshore UK base.

SP Angel recommends a ‘Buy’ with a target price set at 66p.

Similarly, the house broker ShoreCap emphasizes that while the primary focus remains onshore UK, particularly the Wressle project, Union Jack is exploring new opportunities further afield to reduce risks associated with the challenging UK fiscal and regulatory landscape.

“Considering the upcoming announcement of Wressle’s flow rates and a new CPR evaluation of this primary field, we keep our Risked NAV estimate at 90p/share,” commented the broker.

“The future of Union Jack remains bright.”

This is a very good set of results driven by a substantial cash flow from Wressle which is able to fund the development of a ‘balanced̵7; portfolio of assets all of which have exciting prospects. Union Jack’s management is carefully managing to invest in the estate as well as give shareholders a more than reasonable distribution of the proceeds from Wressle.

With these points in mind I’m confident that given that portfolio and current positive onshore economics, there is much to look forward to at Union Jack.

Malcolm Graham-Wood
Posted at 11/9/2023 11:45 by abailey
Likeawalrus. You could shuffle the words around a little and the content would be similar to other interviews over the past years. The takeaway as far as I can see is that shareholders are not being considered in the slightest. The evidence for this is the talk of shareholder value is meaningless. Unless shareholders benefit from the activities then there is no shareholder value.
The share price since the company became “profitable221; has gone down considerably. During the days of fundraising, aka speculation the share price was doing better. So shareholders would have been better off if the company was still making a loss.
IMO the reason the share price is continuing to fall is because the market has no confidence in the company, if the market had confidence the share price would go up.
As far as I can see there was no mention of how they propose to return value to shareholders apart from the speculative exercise in share buyback. For the future it is clear from the DB interview that they will continue to speculate, this means there may or may not be value for shareholders in the near term, almost certainly not. The success ratio as far as I can see on oil wells is very low!
The only thing I took away from this apart from the continuation of speculation is that the crocodile tears of DB concerning the abysmal share price is that he has no intention whatsoever of giving value to shareholders. The only way this may happen is if there are speculative changes in the share price as a result of any new schemes they come up with. Basically he is saying that any profits from current activities will not be returned to shareholders in any meaningful way. It the wild west again, ie not a serious company if you want an income stream.
As I said before if they had paid a dividend instead of this silly sheer buyback the share price would be better, probably in excess of 50p. So bad management of funds which we have experienced over the past year is likely to continue. For serious income investors, which includes most of the market, this company should be avoided apart from speculative forays into whatever schemes the come up with.
Posted at 11/9/2023 09:15 by abailey
Reply to Likeawalrus. I think that buybacks accompanied by a decent divi work. The divi for UJO was sub inflation. So on both measures there is a loss to shareholder.
If you look at LLOY, the started a buyback about 5 years ago when the share price was about 72p. As I recall. The share price is now about 41.5p
So it appears to me that UJO are determined not to give a decent return to their long term shareholders. Instead they cause fluctuations in the share price with these madcap ideas which only rewards speculators. If they want to be regarded as a serious company and attract long term investment then they should pay a decent divi. Instead they are simply encouraging a cowboy mentality. All IMO but the promises of shareholder value have yet to appear, I can almost hear Brammall saying he is going to invest in other schemes because they are irresistible, this will again cause more uncertainty and the poor old shareholders will continue to suffer.
Union Jack Oil share price data is direct from the London Stock Exchange

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