The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Milnrow, no doubt in my kind we will all be obliterated by war before anything else. Let's live with the luxury fossil fuels provide until then 😂
Funstar, the fact the well was declared a 'major' success not just a success The fact the well and the site has obviously been prepared for production, the fact there were elevated readings, the fact the X account is keeping shareholders updated. It all goes towards the assumption all is well. As for the rest of your comment, whatever makes you happy x
Express their operations now in the US. The company should set about drilling another two wells on or very near the site of the Andrews1 subject to it being commercial, which I believe is extremely likely. The numbers certainly stack up based on the cost to drill and the revenue return. Amazing that Reach can drill two wells within 3 months and be producing, all for a million pounds. Pay back in six months, pretty incredible really when you look at the hoops you have to jump through over here just to get permission.
Ito be the time for anti-fossil fuel activists right now as authorities everywhere seem to believe in the need for wind and solar as a substitute for oil and gas. Why don't they see what every sensible person sees? It is simply not possible to exist in today's world without either commodity. Even if you had electric cars and limitless green energy, the fact that the cars and just about every other domestic item we use is a bi-product anyway. Common sense seems to be in extremely short demand.
Image of the Andrews1 well site this morning on X. Everything tidied up, all the equipment no longer required moved off and you can see the actual size of the area now being utilised. Plenty of room for a few more wells there David 😉
And it ensures they never will now Gwynwin 😂
They said approximately 8 days after the 14 days so allowing for the unknowns, I would be expecting the flow results next week jrlomax 😀
Selling oil and gas in Oklahoma very soon. More revenue to complement the cash cow that is Wressle. Use all that cash to keep drilling more wells in the US. The UK is becoming impossible to develop and move forward.
Union Jack keeping the images from the Andrews1 well coming. It may not mean much to some but for me it gives a little clarity on progress. Whilst not all will agree with me, I do believe if this well was believed to be anything BUT commercial., there would be a lot less chatter by the company on X.
Patience required as they go through the testing phase, timescales are rarely met in this industry but seeing the pictures confirms operational progress for me.
Lucky Union Jack are already producing and hold enough licences to last decades isn't it Mrswamp! Phew 😅
All onshore oil AND gas exploration and production licences.. So pleased David took the decision to enter the US before everyone else follows suit. We are ahead of the game big style 🏆 Ruth Hayhurst must he in here element right now with so many negative articles to write
1.40 - 1.50 mins in?
Yes, there are and no doubt some are playing a game, but I think confidence is returning in the management and the future here and more pople will start buying and holding. Need to break 30p I think, that would be the level the main profit takers will sell. Then a new era begins maybe?
There's been little mention of the gas too. The Andrews well was going to be sending gas to the grid so more revenues from that to factor in. Looking forward to lots of updates over the coming weeks.
From what I understand from that response Joking4u, the treasury shares are locked in. Full stop. They cannot and have not been used, loaned out etc. Good to know that x
Paid this year is minimal and the company spends every available penny on more wells in the US. Hopefully then a decent year end divi.
Hearing how the royalties are doing here too. The fact they were mentioned as being materially beneficial in contributing to a dividend suggests the revenue return is impressive.
I'd believe whats on there before what I'd believe on here Uggy x
Is second to none in my opinion. Over a dozen positive RNSs this year to date and always a response on the X account where possible. Not many AIM companies as clear as this.
Will be happy to know this. Well done X account on clarifying it.
We would like to make it quite clear that;
a) The Treasury Shares are held in Union Jack`s designated account at Computershare and the only access to those shares are by the Company themselves - we would not under any circumstances loan these shares to any individual or entity.
b) The Treasury Shares are held as an asset and have a value in excess of £1.5 million on our Balance Sheet.
c) Treasury Shares, due to the fact that they are not in circulation increase the earnings per share and are not entitled to voting rights or any dividends.