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Share Price Information for Union Jack (UJO)

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Share Price: 19.50
Bid: 19.00
Ask: 20.00
Change: -0.50 (-2.50%)
Spread: 1.00 (5.263%)
Open: 20.00
High: 20.00
Low: 19.50
Prev. Close: 20.00
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Union Jack Oil expects Wressle to have material impact on cash flow

Mon, 05th Sep 2016 10:28

(ShareCast News) - Hydrocarbon developer Union Jack Oil said it remained debt free and was trading satisfactorily following the acquisition of three licenses in the first half of the year.During the six months ended 30 June the company bought three licences, a 7.5% interest in the PEDL143, which incorporated the drill-ready Holmwood prospect from Europe Oil & Gas, a 10% interest in PEDL209 from Egdon Resources, which contains the Laughton prospect and an 8.33% interest in PEDL182 also from Egdon and containing the Broughton North prospect.The AIM-listed oil company said the licences will provide additional exposure and potential production, development and appraisal.The company was currently debt free, holding in excess of £2m in cash as of 5 September. The company highlighted that it remained fully funded for the current drill programme at its licenses, including the low-cost UK onshore Wressle development.Egdon, the operator at Wressle, said the project was in the midst of a field development programme and production should start in the last quarter of 2016.That would have a "material impact" on Union Jack´s cash flow generation, chairman David Bramahill.Union Jack´s supplementary tax rate fell from 20% to 10% as a result of the March 2016 Budget, which would have a constructive and positive impact on the economics of onshore hydrocarbon projects. Going forward, this would reduce the effective tax rate from 50% to 40%, the company said in a statement.Full cycle costs associated with UK onshore production, development and exploration remain highly attractive even at current oil prices as "the nadir has been tested", Union Jack said.Executive chairman David Bramhill said: "Union Jack is well placed with a number of development, appraisal and drilling projects underway that are fully funded from our available cash resources. We are not deviating from our strategy and we are continuing to see an escalation of the rewards of that focus."Shares in Union Jack Oil were down 2.35% to 0.166p at 0955 BST.
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20 May 2024 14:10

Union Jack Oil proclaims "solid 2023" despite profit and revenue drops

(Alliance News) - Union Jack Oil PLC on Monday said it remains "in sound financial health" and the future "remains bright", although earnings plunged in its latest financial year.

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17 May 2024 21:11

TRADING UPDATES: Panthera achieves majority stake in Kalaka project

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week Tuesday and not separately reported by Alliance News:

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13 May 2024 16:18

UK earnings, trading statements calendar - next 7 days

Tuesday 14 May 
Angling Direct PLCFull Year Results
Currys PLCTrading Statement
DCC PLCFull Year Results
Flutter Entertainment PLCQ1 Results
Greggs PLCTrading Statement
Marston's PLCHalf Year Results
On The Beach Group PLCHalf Year Results
Renew Holdings PLCHalf Year Results
Treatt PLCHalf Year Results
Virgin Money UK PLCTrading Statement
Vodafone Group PLCFull Year Results
Wednesday 15 May 
Britvic PLCHalf Year Results
Burberry Group PLCFull Year Results
Compass Group PLCHalf Year Results
Creo Medical Group PLCFull Year Results
Experian PLCFull Year Results
Imperial Brands PLCHalf Year Results
Keller Group PLCFull Year Results
Lords Group Trading PLCFull Year Results
Marshalls PLCTrading Statement
Renalytix PLCQ3 Results
Spirax-Sarco Engineering PLCTrading Statement
Titon Holdings PLCHalf Year Results
TP ICAP Group PLCTrading Statement
Tui AGHalf Year Results
Vertu Motors PLCFull Year Results
Thursday 16 May 
Auction Technology Group PLCHalf Year Results
Bank of Cyprus Holdings PLCQ1 Results
BT Group PLCFull Year Results
Convatec Group PLCTrading Statement
easyJet PLCHalf Year Results
Future PLCHalf Year Results
Grainger PLCHalf Year Results
Helios Towers PLCQ1 Results
Nexus Infrastructure PLCHalf Year Results
Premier Foods PLCFull Year Results
Restore PLCTrading Statement
Sage Group PLCHalf Year Results
Tritax EuroBox PLCHalf Year Results
Tullow Oil PLCTrading Statement
Tyman PLCTrading Statement
United Utilities Group PLCFull Year Results
Vanquis Banking Group PLCTrading Statement
Vistry Group PLCTrading Statement
Friday 17 May 
Land Securities Group PLCFull Year Results
XLMedia PLCFull Year Results
Monday 20 May 
Kainos Group PLCFull Year Results
Likewise Group PLCFull Year Results
Nexxen International LtdQ1 Results
Ryanair Holdings PLCFull Year Results
Union Jack Oil PLCFull Year Results
  
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17 Apr 2024 14:28

Union Jack Oil in "excellent financial health" as Wressle impresses

(Alliance News) - Union Jack Oil PLC on Wednesday said its latest drilling and development campaign will commence at the earliest opportunity once approved by regulators.

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8 Apr 2024 09:34

Union Jack Oil shares up after reporting success at Andrews 1-17 well

(Alliance News) - Union Jack Oil PLC said on Monday that "positive" progress has been made at one of its key North American projects.

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4 Apr 2024 18:31

TRADING UPDATES: Shanta Gold takeover approved; Experian to buy illion

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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4 Apr 2024 11:34

Union Jack Oil starts US trading on OTCQB Venture Market

(Sharecast News) - Onshore hydrocarbon explorer and developer Union Jack Oil announced the approval of its ordinary shares for trading on the OTCQB Venture Market in the US on Thursday, with trading starting at market open under the ticker 'UJOGF'.

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28 Mar 2024 14:14

TRADING UPDATES: Duke expects revenue rise; SIMEC gets EL deal payment

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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12 Mar 2024 17:41

EARNINGS AND TRADING: Ariana strikes gold; Union Jack adds royalties

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Mar 2024 12:57

Union Jack Oil buys three US royalty packages

(Sharecast News) - Union Jack Oil announced the expansion of its mineral royalty portfolio on Tuesday, with the acquisition of three additional packages brokered by Reach Oil & Gas.

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11 Mar 2024 14:55

Union Jack Oil says drilling contract penned at Andrews-1-17 well

(Alliance News) - Oil and gas explorer Union Jack Oil PLC on Monday noted the operator of the Andrews-1-17 well in Oklahoma, US has signed a drilling contract with a local contractor.

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27 Feb 2024 13:56

IN BRIEF: Union Jack Oil says WN-A3 well to be drilled in 2024

Union Jack Oil PLC - Bath-based UK- and US-focused oil and gas company - Says proposed well WN-A3 in West Newston project, onshore UK in East Yorkshire, is planned to be drilled during late 2024, and will be twinned with the West Newton A-1 discovery well. Adds that a feasibility study is underway for a single gas well development plan at the WN-A3 well. Chair David Bramhill says: "We plan to expedite the drilling of West Newton with the deviated WN-A3 appraisal well as soon as all remaining regulatory permissions have been granted. Discussions are already underway with the relevant authorities and work has commenced to progress drilling. Our revised drilling plan offers significant cost-savings without compromising any aspects of the project. The objective is to develop what we know to be a material onshore gas resource located in an area with excellent access to local and national infrastructure and an attractive domestic gas off-take market."

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13 Feb 2024 11:27

Union Jack Oil hails two farm-in agreements in Oklahoma

(Alliance News) - Union Jack Oil PLC on Tuesday announced new deals to boost its drilling and mineral royalty portfolio.

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13 Feb 2024 09:18

Union Jack Oil further expands footprint in Oklahoma

(Sharecast News) - US and UK-focused onshore oil explorer Union Jack Oil has signed two further farm-in agreements with Reach Oil & Gas for the Wilzetta Fault oilfields in central Oklahoma, which is thought to have substantial reserves.

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6 Feb 2024 17:35

TRADING UPDATES: Power Metal firms Tati gold; Union Jack inks deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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