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"Just West Newton - 1p per share, including a 0.75p per share dividend payment. Soon after EWT results released."
Thanks for the civil response - I hope you are correct, I suspect you won't be, but lets see.
Highly unlikely but I wouldn’t rule out an offer for West Newton in weeks - go on then put a figure on what that offer in weeks will be - ballpark wise. If it comes mine ballpark is 0.35-0.4 per share for UJO for West Newton only, not the entire Licence area
We’ll know soon enough who is right.
Spike501 goodbye...101
Selfish Nimby - you must be looking at the old note. The new note
http://unionjackoil.com/wp-content/uploads/2019/07/SP-Flash-note.pdf
West Newton is split out between appraisal and exploration and then there is further exploration for PEDL183 - West Newton appraisal is unrisked 0.64p and risked 0.21p
PEDL183 exploration total is unrisked 1.02p and risked of 0.06p
"There has been extensive 2D seismic over the Spring Hill and Ellerby project areas. This isn't years and years. This is weeks."
Yes my mistake there has been some 2D which is about as basic as it gets. They are already planning 3D, then they have to analyse, plan, get permission for an exploration, drill, analyse plan, drill appraisal - how is that weeks? That is years and years of work - they won't sink another well in PEDL183 outside of West Newton, before the end of 2020.
"Once you start telling lies, you expose your intention to deceive shareholders into selling. **** poor really."
Yes, I made a mistake about the 2D seismics - you are claiming that within weeks exploration of PEDL183 will be known - who is lying?
I don't advise anyone to sell, but can't stand this mindless ramping. 1p is a long shot but not impossible, but substantially more in the next weeks or months is just fantasy
"Spike, according to SP Angel the West Newton licence unrisked valuation per share is 1.65p."
And the risked value - I see about 0.1 for PEDL183 exploration? There haven't even be any seismics over the rest of the licence let alone a drilling plan - this is years and years of exploration development and until there are actual discoveries and appraisals, its not going to get valued at much. Union Jack themselves are evidence of this as they got their 16% for about £2million when all the information was already known, other than the confirmation of West Newton A-2
once that lang finishes we will move. i can get a quote to buy 25m. he cant have much left but needs claring.
Much of the infrastructure is already in place, and what is necessary to develop the field in the scheme of things is relatively small.
The value of the licence is far more than your calculations suggest exactly because the infrastructure is in place.
Oddbods - Corrib is a producing field. All the necessary upfront capital investment has been done and the buyers get the share of all the infrastucture and it is immediately throwing off large amounts of cashflow. Onshore is more attractive pre-development as it is easier to develop, but offshore once producing and tied back is more attractive as the production can be much more optimised as it doesn't come with some of the other hurdles onshore production has. You cannot develop a massive hub production like Corrib onshore in the UK - it has to be a number of smaller sites.
Selfish McNimby
"0.2p per share! lol"
Its from your figures - how much do you think pre development BoE is worth?
The Corrib Gas Field, 90km off the Irish coast and 1tcf came online in 2015. Shell sold it's 45% stake this year for over £1bn, and it is expected to run out around 2030.
That values 1tcf at around £2.5bn to a major oiler. West Newton Gas Field is 200bcf. West Newton is therefore worth £500m, based on 200bcf. But the licence area has been estimated to contain 500bcf. That makes the licence worth £1.25bn. That's gas only. That makes Union Jack's interest worth over £200m. Gas only, there's oil too.
Selfish McNimby
"I think £75m is way undervalued. 16% of 200bcf close to infrastructure! You are the one with completely unrealistic views spike."
200bcf is 35million BOE - 16% is 5.6million BoE. An excellent valuation per BoE would be $6 at this non-producing stage - thats then $33.6million - about £25million = 0.2p per share.
Straighttalker
If you think Wressle is worth a lot you should be piling into Egdon. Wressle will be some nice, very welcome cashflow, but even the unrisked valuation for Wressle in the latest Broker note was just 0.11p per share.
"The past few months I have been like a kid at Xmas, going to bed early because I couldn't wait for the morning to arrive and I bet I am not the only one."
Thats because you have got completely unrealistic views on valuation and will inevitably be disappointed , although I still believe you'll make good money.
Zak Mir update on technical
Rising spring trend channel to 0.40p
https://www.share-talk.com/share-talk-bulletin-board-heroes-wednesday-17th-july-2019/