Union Jack Share Chat (UJO)

From October 2018 presentation:

Kirkham Abbey Shoal Gas Discovery appraisal well
• Appraisal of West Newton A-1 natural gas discovery
• Delineated by 3 component 3D seismic survey
• Contingent Resources Best Estimate of 185 Bcf + 581 Mbbls of liquids.

From old cpr:
Original target was 189bcf (31.5m barrels) and were told it was at least this so closer to the 62.5m barrels?
Total contingent resource(3) low-15,874 best-31,506 high-62,554

That volume was for gas so are we now looking closer to:

West Newton Kirkham Abbey slope
Total for Oil & Liquids(4) (Mbbl) low-75 best-170 high-385

Good reminder Oiler. You can't sleep either lol.

Key statement here that unpins my opinion that CPR is in progress and due soon is this..

"We now await a revised CPR"

as I've called out before. Deloitte have produced this already and it's not manually crafted but built from a series of new inputs so shouldn't take long.

Hang tight.. Mix.. Seriously need some sleep now..

Gla mix.. Always DYOR

So in terms of 'guess work' , see the bottom of this post on what I posted back in the 12 September.

Storage approval has since been granted. Awaiting Interiums first then further updates.

Just to note that I've commented for a long time on strategies around flipping West Newton due to the cost of developing it over 20 years, buying more Bisc and developing Wressle into production with more Wells. Most LTHers are aware of these view points. Others are now tweeting and posting along these same lines which is good but do note this is all based on my own opinion and research. So as always make sure and DYOR

Others believe that we need don't need to drill West Newton B. I've posted a geographical diagram showing the flanks of the Cadeby on West newton A and the depth of the Cadeby and extents on West Newton B. Unless UJO get an offer to good to be true, we need to drill WN B in order to realise a true valuation, coupled with an updated CPR and seismic over the duplicate formations. Yes no prizes for guessing who first pointed that out lol ;-) maybe a guess.

Anyway good luck all.. Hoping for an exciting few weeks. But just guessing ;-). If I post that everyday I might be right sometimes lmao. Right ;-)

Gla mix.. Defo good night!

From 12th Sept

"Well the next 2 to 6 weeks is fairly monumental for #UJO

1 - lnteriums next few weeks. Bramhill likes to get them out early.

2 - storage decision today..

3 - EWT hopefully restarting in next 4 weeks. How long can it take to redesign the EWT

4 - CPR maybe 4 weeks. Betting it's started. Hoping it's started. Just new inputs to the previous CPR so deloitte should know this out quickly

5 - Wressle appeal by 5th Nov. Hopeful the appeal commission will see sense and close it out earlier as NLC have withdrawn

6 - Biscathorpe analysis due. Now that is exciting. It's a prospect that we should buy more of and develop with Wressle giving us the finances to do so with.

These are just near term events that should lift us higher.

If we are to flip West newton then the CPR based on the oil we found in West Newton A2 lifts our valuation. We need to drill West newton B to prove out the extents and more importantly explore the Cadeby which Rathlin and UJO believe is the deepest intersection. See my post on twitter to see how deep "

Will this be our week?

Initial petrophysical evaluation identifies a gross oil column of approximately 45 metres underlying a gross gas column of approximately 20 metres within the Kirkham Abbey interval. The West Newton A-2 well exhibits encouraging porosities on logs and in core, particularly in the identified oil zone, where in excess of 30 metres of porosity has been measured. The core also exhibits natural fracturing which is confirmed by an imaging log run across the entire Kirkham Abbey interval.

"The confirmation of a major oil discovery at the West Newton project is highly encouraging compared to its original perception as a substantial gas discovery. We now await a revised CPR that Union Jack expects will provide details on the oil in place, gas in place and recoverable volumes. Given the positive value implications of a major onshore oil development, rather than predominantly gas as originally believed, we expect this will also lead to a meaningful uplift in the NPV10 calculations in the Revised CPR.
The EWT will now be paused to allow the test equipment to be reconfigured to design and implement a revised production test which will better reflect the increased liquid hydrocarbon content of the production fluid. We believe this to be necessary in order to maximise the information derived from this EWT test information to drive this important onshore oil project forward.

Well in fairness CJ I had hoped that the Interiums might have been pushed out last Monday, as per previous posts but my educated guess is an expectation that they will be out tomorrow, based on their published date last year of the 18th Sept. Not sure why you want to make a deal of a 'guess by Mixster'. Any LTHers would tell you that Interiums have due dates, as you know and UJO like to publish early. If they don't appear I'd probably send an email to DB as to why and when.

As for guess work, I see you tweeted about 'Biscathorpe news imminent' last Wednesday followed by you like 'RNS Thursdays'. You too are entitled to a 'guess' like us all. All good by me, but if I was UJO or any CEO, I would only put out an RNS, like in the case of Bisc, if compelled to do so by a regulatory requirement. The reason is that the Interiums could be released and consumed by investors first. Not just a guess for me but common sense. I have mentioned this before that I wouldn't expect an update on Biscathorpe for that very reason.

So hopefully Interiums in the morning or an email to write, followed by some updates on Biscathorpe reanalysis and CPR. All guess work of course ;-). I don't get caught up in dates or drill depths as I like to leave that to UJO but I'm more interested in strategy.

Night all but we should get traction again soon.. Mix

Good tune TAFire ... bang on.

You asked for it Heid -
https://www.youtube.com/watch?v=0vo23H9J8o8

What is rubbish ? Not my UJOs.. they are my pride and joy.

I'm afraid you're right, it's rubbish.

Brocs, a penny will see me an you doing the conga alright. X

I believe that Woody got in at 00:16hrs - It’s sad when you still have to clock in Woody especially at your age!
GLA

Ha Ha that made me laugh!! You are obviously NOT that familiar with our Heids???

That post nearly made me throw up my Sunday dinner, Brocal that is a horrible image. Puke, yuck. Cease the creepy posts, you're a borderline internet stalker creepfreek. Yuck

C&P from another BB, don't know what they're talking about but it works.

It is a socket timeout issue - either type fast and post or type slowly and copy your post before posting. then you can post again by pasting and break the speed rules.

And me. Roll on the RNS

Tassle Turning Conga round your garden ???

HI--Two attempts to post a cheeky one to you and ZILCH Maybe Sunday and LSE do not like anything risque!!

44 Days to go, 44 days till Wressle. 44 days to go...44 days till Wressle.
Bom bom.

Woodstock1970...Whilst I don’t get carried away with the over enthusiastic posts on here, you have gone to far the other way, the sp might wavier a bit on no news, But not to the low you are hoping for.once we get a bit of solid information on the way forward the sp will continue to rise IMO ...ATB though

Ooo Woodstock. Will you get back in or be left out ?

I will wave to you as I float off in my hot air balloon.

I am back in @ 0.016.

I hope they bring it out ASAP because it wakes me up early every morning to check if we have a 7am rns

Well, exciting news rich period upon us I believe! Possibly the interims tomorrow (guessed at by Mixter earlier this week) which will confirm the present cash position of the company. I am hoping for £2.5m plus there, a nice solid position what with the EWT all paid up in advance. Whilst I don't expect any additional information on West Newton as tests continue, I am sure David will remain as positive as ever. He knows what this is worth and is no doubt restricted by the operator as to what can be revealed so I think maybe a few more weeks before we get an update there. Personally I have no concerns, I believe this to be such an enormous discovery the way they now play it will require a lot of additional tests and they take time. In the meantime, we also have Biscathorpe. Graham Bull is extremely excited about this asset and it could actually be of bigger value to UJO than West Newton. Not only with the oil in place but when they sell their 16.6% of WN out, the cash received will allow major development of this asset, something that will never happen at West Newton in terms of our involvement. With unrestricted cashflow, the world is our oyster. The UJO portfolio will certainly see some advances next year imo. So, interims this week, updated CPR soon, recommencement and results of extended well test, Biscathorpe upgrade and timeline, Wressle getting the green light, it's all to come. Right now I really can't think of any better, safer more exiting UK investment. GLA!

Who said that?

Heids--we can all hold it together??