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Even more interesting .....

West Newton said NO!

ACTION NEEDED ASAP!!!!

URGENT! OBJECTION GUIDANCE FOR ENVIRONMENT AGENCY PERMIT VARIATION WEST NEWTON A 🛑🛑🛑🛑🛑🛑🛑🛑🛑🛑

PLEASE GET YOUR OBJECTION ON THE ENVIRONMENT AGENCY CONSULTATION PAGE ASAP (LINK FURTHER DOWN) !! DEADLINE IS THIS MONDAY 6TH OCTOBER!

👇 PLEASE READ THIS FIRST BEFORE COMMENTING.

REASONS TO OBJECT

1. FINANCIAL COMPETENCE,VIABILITY AND RESILIENCE

The EA's assessment of operator competence includes a check on financial viability. This check is relevant for:

Permit variations: Particularly where the changes are "substantial" and increase the site's environmental risk.

Revocation: If the EA determines an operator is no longer competent, it may take enforcement action or revoke the permit.

A large debt burden on an oil and gas company is a warning sign of potential financial distress. The EA must scrutinise debt for these key reasons:

Insolvency risk: If a company with large debts becomes insolvent, it may be unable to meet its environmental obligations. In such cases, the burden of clean-up and remediation could fall on the taxpayer.

Funding for remediation: Following a pollution incident, regulators need to be confident that an operator has sufficient financial capacity to launch an immediate and uninterrupted clean-up response. Large debts can call this capacity into question.

Aftercare costs: Environmental permits, such as those for onshore installations, require operators to fund monitoring and aftercare for as long as a site poses a hazard. A financially unstable company may be unable to secure these long-term provisions.

Rathlin are now 2.5 million in debt for example.

I OBJECT TO THIS PERMIT VARIATION DUE TO LACK OF FINANCIAL COMPETENCE AND INABILITY TO RESPOND TO POLLUTION INCIDENTS: THIS PERMIT MUST BE REVOKED.

Union Jack Oil plc reposted Net Zero Watch @NetZeroWatch

·

5h

“Our electricity prices are too high… We need to repeal the Climate Change Act, and we need to rethink our energy strategy to put cheap electricity first,” @ClaireCoutinho tells @SkyNews

A seismic and welcome change in policy from the Conservative Party.

Union Jack Oil plc reposted Net Zero Watch @NetZeroWatch

3h

Chancellor Rachel Reeves should abolish windfall taxes on oil and gas producers in the North Sea, top bosses have said. The British Chambers of Commerce said the energy profits levy hitting giants including BP and Shell had reduced investment and knocked business confidence. It....

Union Jack Oil plc reposted Net Zero Watch @NetZeroWatch

4h

New BP Chair Albert Manifold has told employees that the group's portfolio was "overly complex" and it needed to execute its strategy of shifting focus back to oil and gas faster. Manifold took the helm of BP's board on Tuesday. He succeeded Helge Lund, who came under investor

Show more.....

Union Jack Oil plc reposted Net Zero Watch @NetZeroWatch

·

5h

Kemi Badenoch has vowed to cut energy costs and revive British industry if she becomes Prime Minister by scrapping Ed Miliband's Net Zero drive and replacing the Climate Change Act with a strategy of putting cheap and reliable power first.

This is a huge moment, the tide is....Show more....

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Union Jack Oil plc @UnionJackOilplc

·

4h

Our partnership with Reach Oil & Gas in the US is delivering results, with high-potential drilling projects complementing our UK assets. Exciting times ahead for Union Jack!

Learn more about Reach Oil & Gas: https://bit.ly/4m71Hcc

Thank you itsawrap.

If Sark is a costly mistake an take years to repay will David consider manning up an cancelling the 40% COS Crossroads drill or will this upset Reach with the works pencilled in to pay their crew ?

I would agree that the average oil price for the half year report was of US$71.00

Today's oil price is US$66 due to increased supply an expectations of further output hikes from OPEC+

Also, Wressle has been switch off whilst the separator has been installed.

I therefore conclude that your profits will suffer further.

In the six month period under review,

although the Company recorded a gross

profit of £454,401, an operating loss of

£489,674 was reported. These figures

reflect a sharp decline in the oil price

Malcy, Union Jack reported a loss ?! The share price is at an all time low.

The second half of the year looks concerning with the cash going down faster than it is coming in ?!

As with all of the figures this week, being released at the end of the quarter to comply with market rules, there is nothing that we dont already know. UJO is in a very strong position and its decision to use cash flow from production in the UK to buy high quality assets in the US has already paid off, giving the company balance and strength all on a ‘robust’ balance sheet.

Going forward those US projects will continue to produce and in the UK both Wressle and West Newton have a new sense of positivity with more wells in the former and a renewed vigour at the latter where I am convinced there is substantial upside.

As I wrote only last week I consider Union Jack to be significantly undervalued and as we see a more pragmatic approach to drilling for onshore hydrocarbons in the UK, it is financially strong and with dynamic opportunities in the portfolio the positive nature of UJO stands out in the sector.

https://www.malcysblog.com/2025/09/oil-price-ujo-touchstone-seascape-matd-rkh-uog-gkp-and-finally/

Closing in on 3p

I wonder if the placees will cut their losses ?

It must be pay day as it's end of the month :

Salaries

D Bramhill £325,000

J O’Farrell £150,000

Genius. Very well done !

Net barrels of oil equivalent production

per day (“boepd”) across the production

portfolio in the six months under review

averaged 149 boepd (2024: 198 boepd)

That's a drop ?!

Royalty income £69,438 from £120,268

Thats a drop ?!

'Potentially 3ps incoming ?'

Header stands.

End of the day you made a loss.

How on earth will you raise money for Wressle if the Pennystones get the go ahead ?!

This Sark sounds like a gamble gone wrong. You really do need something BIG to pay off with the next drills

Does the future remain bright ? HIGH RISK

"In addition, Union Jack hosts a growing and

active X account @unionjackoilplc.'

Good job you have ShareTalk an all its apps to like your posts...five on one post this morning an of course David Burton

https://x.com/UnionJackOilplc/status/1972542288040542643

So many posts on net zero an politics yet your pinned post is :

'Just a little reminder, we try very hard to make this account somewhere shareholders, investors and interested parties can communicate and keep informed where possible of information about Union Jack.'

Let's see an interview with David today on there an more information on Union Jack on balance.

Are those the only reasons David that you made a loss ? High salaries, costs for drilling wells that haven't paid off, paying out for sites that are empty an will never produce, payments to brokers, analysts...etc etc

In the six month period under review,

although the Company recorded a gross

profit of £454,401, an operating loss of

£489,674 was reported. These figures

reflect a sharp decline in the oil price and

a continuing downward trend in the value

of the US dollar against Sterling

Https://unionjackoil.com/annual-and-interim-reports/

The blank square is there to put the front cover of half year report with a poll dancer stripping in Oklahoma.

" The future remains...." ??!

Current US revenues are mostly from Mocc. and currently seem to be running at $55-60k per month depending on Andrew oil liftings.They've spent at least $4mm to date on drilling 5 wells plus historic costs, $100k on Rogers, plus the costs of permanent production facilities and pipelines, should we assume the historic cost payments on Diana $277k ? were credited to Sark etc, plus there's still about $2mm of the " Circa $3mm" drilling plan still to go. That's over $6mm spent/committed on the US drilling campaign . That $60k a month needs to grow significantly to demonstrate a realistic return. It's now pretty unlikely Sark will materially add to this nor deliver the suggested potential NPV value.. Given that Andrew and Mocc. are naturally declining that's an increasingly tall order to deliver from the remaining 2 drills. Anything short of stellar results and I think they'll need to call a halt to further us expansion.

kim_clay ADVFN