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
  0.25 1.09% 23.25 2,119,819 15:20:48
Bid Price Offer Price High Price Low Price Open Price
23.00 23.50 23.25 23.00 23.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.16 -1.87 -2.23 23
Last Trade Time Trade Type Trade Size Trade Price Currency
17:08:46 O 100,000 23.10 GBX

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Date Time Title Posts
26/9/202119:49Union Jack Oil - Can David Bramhill do it again?7,958
26/9/202118:58Moderated Union Jack Oil Thread10,721
24/9/202116:40Oil & Gas Flash Note by SP Angel - "Positive outcome at Wressle"3
24/1/202119:16UNION JACK OIL5
21/9/202000:45UJO HEADING BACK TO 0.1P95

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Union Jack Oil Daily Update: Union Jack Oil Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker UJO. The last closing price for Union Jack Oil was 23p.
Union Jack Oil Plc has a 4 week average price of 21.50p and a 12 week average price of 21.50p.
The 1 year high share price is 41p while the 1 year low share price is currently 21p.
There are currently 99,079,532 shares in issue and the average daily traded volume is 2,847,125 shares. The market capitalisation of Union Jack Oil Plc is £23,035,991.19.
atino: Cracking article by Jim man oil & sums the position of investors, over the past years. Management have been complacent with the leaks, and have several times failed to do anything about it. Despite reporting various project successes…the share price seems to go down fiercely, due to these leaks… One for UJO “auditing & compliance” department to address I think…(as leaks in nature, have very little to do with the company’s overall corporate governance, and more to do with external influences ie rumours influencing the SP)… Case for “negligence221;, do you finks ??… ⚖️ WHOM WOULD LIKE TO GO FOR UJO’s “indemnityR21; insurance cover ??? 😈 💭💭💭💭
wba1: The prospects for a company depend on both its assets and its management. The assets of UJO are good and would justify a higher share price. But those who ramp its prospects on the assets alone need to reflect on the damage done by its management. I have read the various articles from paid pundits and analysts, but none of them answer some simple questions that go to the heart of management credibility. Just to choose some easy ones; * whilst DB may not be directly responsible for the leaks around 3 consecutive placings, what has he done to pursue those responsible and deter them from future such activity. Following the 2019 placing it was reported UJO was pursuing a player, and could seek a Norwich Pharmacal order. Was this done and if not why not? * what alternatives fund raising mechanisms to placing did DB look at and why were these not pursued? This would include convertible bonds, loans and forward sale of Wressle production - all of which would have avoided a discount and limited dilution to occurring only if the share price rose. Rampers should be ashamed of themselves if they choose to ignore basic questions about DBs management. As a LTH I hold only for the assets, not the management.
mike290: As an investor in Union Jack, I'm happy now. Despite several mistakes, UJO now has the funds necessary to expand the production facilities at Wressle and work on Biscathorpe. As a result of this placing, there will be 112,715,896 shares in issue. Using a current share price of 22.5p to sell and 24.0p to buy and therefore 23.25p mid, Union Jack's market caitalisation is now £26.2m. It has no debt and significant cash in the bank. Don't forget that £6 million per year (after costs) is expected from Wressle. This £6 million per year net revenue compares very well with a market cap of 26.2m i.e. UJO is currently very cheap. Let's not forget the possibilities at West Newton. Michael Walters (a very experienced and informed financial journalist) after his usual thorough research, considers with several in the O&G industry that West Newton might eventually be worth £1 billion. Union Jack owns 16.665% of West Newton. Obviously, there have been difficulties at West Newton A and B. However, considerable time and effort has been spent at these sites and efforts continue. To continue after all this time means that West Newton must remain of great interest to those investigating it. Don't forget, as Union Jack has a current a market cap of £26.2m, the prospects at West Newton and Biscathorpe must therefore be included for nothing Good Luck. ps. I am also very pleased to see that David Bramhill listened to shareholders concerns about this placing. Probably not the near psychotic rantings on this thread but calm and reasoned argument from those that contacted him directly. Very Good to see. pps. I am delighted that the placing wasn't stopped. It is great that Union Jack is still able to raise funds when necessary despite several errors and vile protestations. Where would small O&G companies be without the ability to raise funds. Perhaps, a lack of funding situation is what some on this bulletin board would want ;-)
streeties: What about the timing also. Had this placing have been done in two to four weeks time, the is every possibility that the share price and the placing price would have been higher. Instead, we've once again Had any potential momentum in the share price quashed. Bramhill is inept.
mike290: OK. Mistakes may have been made in trusting that UJO's proposed placing could be kept under wraps (by those outside the company) until it was complete. Mistakes may also have been made in deciding what the money might be used for. However, how the money is eventually spent could still change. I have heard talk of a possible £5m placing. I have also heard talk of prices ranging between 20p and 28p. Currently, the price is 24p to sell and 25p to buy. For a minute, let's assume that the placing is for £5m at 25p. Roughly, this will result in 20 million extra shares. I'm starting to think that many (with detrimental to UJO agendas) have been stirring up a huge storm in a teacup. If a placing as suggested above occurs, it will result in a total of 119 million (99 million existing plus 20 million new) shares. Assuming that the price eventually settles at 25p, Union Jack's market cap will then be 25p x 119m = £30 (approx). This £30m market capitlisation is still very low considering UJO's likely net revenues of £6m from Wressle alone. After the placing (if it goes ahead) Union Jack will then be flushed with cash to expand production facilities, make new investments, etc. In relation to this placing / fundraise, I'm starting to think "so what?"
c2b: I for one don't agree with TW and don't see the problem. If you know your share price is strong, and ought to rise, and you can arrange a placing near the top of the rise and you use and your industry knowledge to buy a high yielding investment, Why Not ?Surely this is just what DB has done buying shares with cash in the Oil licenses of other UK companies. TW assumed that the placing would be at a big discount to the current share price but all his 'revelation' has achieved is a lot of problems for the company and its advisers, and the certainty that if the placing goes ahead in the short term it WILL be at a substantial discount to what the share price would have been.
1347: Wressle is obviously good news, although we don't yet know whether those flow rates will be sustained. However it doesn't change the facts that a placing has been leaked 3 years in a row trashing the share price and destroying investor sentiment and confidence. Nor does it change the facts that they've previously raised funds to do drills that they haven't yet done (go back and check the last two placing RNS). Not does it change the fact that the relationship beteween UJO and CPR viw Godson was not disclosed, I believe it should have been. Nor does it change the fact that it's not good business (in my view) to be doing leaked and no doubt discounted placings to buy royalties when the money should be better spent on doing the drills at Biscathorpe, Keddington and North Kelsey that were supposed to be done in 2021. In my opinion UJO remains a poorly managed company with too many questions around it. Regardless of Wressle I'll be out if/when the share price recovers to a decent level.
wba1: Mike290; I understand your enthusiasm but if by 'completely underpins' you mean Wressle (or the UJO share to be more accurate) is worth the market cap, you are simply wrong. In valuing oil assets it is about the price the market will pay for an asset based on bopd - and as I have previously pointed out, the best comparator in recent years is Singleton. Whilst this update reduces the risk discount in valuing the asset, we still have no decline rates or new CPR - and until we have that any value placed on the asset is subject to a high discount rate for risk. This is not deramping as I am now more confident than before that the combination of Wressle plus our other assets merits the market cap (and a bit more). But it does not change the need for positive WN news and more key data on Wressle (inc the other intervals) to get this above a share price in the 30s. On the latest developments; whilst very welcome news it in no way excuses the behaviour of the board or the criminals exploiting them. A quick glance at other boards will reveal the return of the manipulators. Nothing has changed in terms of the boards culpability in allowing repeated leaks and their past failure to pursue the guilty, despite the aavailability of legal avenues to do so.
talkman2: I have to say that Friday’s events were incredibly disappointing for loyal shareholders of UJO and there is a sickening sense of deja vu .There is great confusion that just on Monday the company announced that it still had a cash balance of over £4.5 million in June and Wressle is now generating cash . Why on Earth would DB go after a NS royalty deal and significantly dilute shareholders in the process when the company has so much else on the go ( Wressle , WN ) which potentially should create significant shareholder value . Why the hell do it now ! It’s beyond understanding. DB doesn’t own UJO . It’s us shareholders who own the company . He should be acting in our interests . This placing isn’t . The timing couldn’t be worse and defies logic. The confidence and trust in the company has been completely undermined and once lost is very difficult to regain . Shareholders have not had a return yet on their investment and the share price has been very poor . DB has not delivered yet and continual share placings at ever decreasing share price levels is a pretty damning verdict. The company should do the right thing and pull this shambles of a placing at the current time . Let’s see if DB really listens and acts in shareholders best interest.
likeawalrus: the placing was leaked, we do not know WHEN db was planning to raise, perhaps he was planning to raise after a fantastic RNS re the Wressle flow rates? with regard to the Royalty, I suspect a purchase price of circa $2m which could be paid from cash at bank, but as the RNS also stated, "...to upgrade certain producing assets to enhance cashflow and to progress the Company's other appraisal projects." No doubt there will be lots of selling Monday & Tuesday, that's fine with me, the more the share price drops, the more I will buy, I expect the share price to double from the low 20's once we get the Wressle flow rates
Union Jack Oil share price data is direct from the London Stock Exchange
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