We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
malcy ?????? he was the guy who stated that an EWT would not be required at WN ! Pretty much sums the ******** up tbh.
Wow, even sorrier, not this thread at all. Whatever, shall try check.
Sorry Heid, credit where its not due, reading Jimmyb's post.
Gosh, serious post from Heid!
Overall, we can't say how steep or sudden, but know where its headed.
I shan't forecast #bags, but >4 <40. I have enjoyed, not admired, the manic bizarre deramping: observe please that it did have an effect. If some are paid, that's why.
Amusing the rns had no net effect, we would probably have ended here without. Gla, take it easy, stay safe.
Love this twitter quote
#UJO @UnionJackOilplc
#factsnotfiction
1. Credibility growing
2. Shorts closing
3. Longs opening
4. II’s building
5. Day Traders fuming
6. LTH’s positioning
25% SP daily increases to follow…
Good job Wressle has come up trumps then RNSTranslator - that is the big money generator for David for now.
'Millions in the hand are worth two in the bush.'
But I guess a critical old boy like you RNStranslator will pick bones all the way. This is geology we are talking about here. West Newton is not a duster or far from over.
Ah Good old Malcy, aka rent a quote...
What Malcy said Today "whilst concentrating unduly on other assets notably West Newton"
What Malcy said previously "... the Zechstein is about to be tested, the process has taken a long time and the jury is out, for what it’s worth I have nailed my positive colours to the mast and feel that UJO and RBD will be successfully be rewarded in six weeks time."
Blows with the wind...
Union Jack Oil
UJO has announced a Wressle Update and the US$1,000,000 of Net Revenues Landmark Reached this morning, Union Jack holds a 40% economic interest in this development. The landmark of US$1,000,000 net revenues generated to Union Jack are since re-commencement of production on 19 August 2021.
Current daily production figures of well in-excess of prognosed 500 barrels of oil per day from the Ashover Grit reservoir and elevated production rates maintained during well test on significantly restricted choke setting and sustained high flowing wellhead pressure.
The well is producing under natural flow, clean up is continuing and full potential yet to be achieved with zero water cut. Staged site upgrades have commenced and Wressle production is highly profitable at current oil prices, it is also worth noting that further development and production at Wressle can be achieved from the Wingfield Flags and *****tone Flags formations. Finally, the Gaffney Cline Competent Person’s Report commissioned by Union Jack is ongoing.
Executive Chairman of Union Jack, David Bramhill, commented:
“The net revenues exceeding US$1,000,000 within a relatively short timeframe is financially transformational for Union Jack.
“Our acquisition of further interests in Wressle over the last couple of years from just 8.33% to being the major equity holder with 40% is now showing material results and gives us increased confidence that the Company is set to deliver on its aim to become a self-sustainable entity in due course.
“Union Jack has four cash generating projects within its balanced portfolio and revenues for year end 2021 are guaranteed to eclipse those reported upon in 2020 and for the six months ended 30 June 2021.
“We believe that Wressle holds considerable further upside and we look forward to reporting on progress in due course.”
A number of things stand out to me here, firstly and most obviously that it is very creditable to have already taken a million dollars of net revenue following the work at Wressle in the summer. Secondly the management deserve really serious plaudits for continuing to show faith in the project when others had none and that through various mechanisms have taken their stake to today’s 40%, now hugely profitable for the long term.
Finally it seems that the market place has taken these successes at way below their real value to UJO whilst concentrating unduly on other assets notably West Newton. The here and now suggests that Wressle itself is a fine, valuable asset and should be celebrated as such but for now the totality of UJO is in great nick and the shares are way too low considering that inherent value.