Member Info for Heid

An that's why David said in 15th August RNS...'Sark well is of major importance to Union Jack, both financially and operationally.' because like the very clever poster on ADVFN ( kim_clay) stated...'They need much better results than the drilling to date has delivered or they should call it a day and run it for cash.' Wressle is still the main earner against the USA wells that decline fast...but is Wressle Ashover starting to drop faster too ?

It's a train journey where passengers buy tickets to keep the line open an running...

Passengers stop at each station: Keddington (speed restriction) , Andrews ( Leaves on the line)...Beacon...(Track fault)...Diana ( Pass through station; delayed opening)..Mocassin (40mph ) West Newton ( New ticket machines being installed; Bitcoin) ....

Potential subsidies on season tickets available for special ticket holders ( Awaiting show of hands) Free travel to USA an UK stations for staff; all expenses paid. Attractive renumeration packages plus retirement golden tickets for the over 70s.

'The journey remains bright'

🚂-💰💰💰-💰💰💰 -5p 💩💩-

29/8/2025

kim_clay ADVFN:

It includes Sark costs as part of the 3 well £2mm campaign as detailed the website. What is clear is that without the £1.85mm of fundraise they would be low on cash. The $7mm or so they've spent or committed to the US needs to generate more revenue than currently as payback to date is years not months, $2.7mm for the three wells requires 50,000bbls to repay the investment at €55/bbl after opex. To repay in a year requires 135 bbls/day net ie 45bbls per day per well net to UJO. Mocc is currently less than 30 net and declining. They need much better results than the drilling to date has delivered or they should call it a day and run it for cash...Can't see how they can afford Wressle expansion (£5mm?) unless they take on some debt/project finance ...

I'm sure it will be a 'major success' 😂 just like all of them.

Can you imagine him/her presenting these facts to the board at an AGM with a room full of shareholders ?!

29/8/2025

kim_clay :

It includes Sark costs as part of the 3 well £2mm campaign as detailed the website. What is clear is that without the £1.85mm of fundraise they would be low on cash. The $7mm or so they've spent or committed to the US needs to generate more revenue than currently as payback to date is years not months, $2.7mm for the three wells requires 50,000bbls to repay the investment at €55/bbl after opex. To repay in a year requires 135 bbls/day net ie 45bbls per day per well net to UJO. Mocc is currently less than 30 net and declining. They need much better results than the drilling to date has delivered or they should call it a day and run it for cash...Can't see how they can afford Wressle expansion (£5mm?) unless they take on some debt/project finance ...

Says it like a pro.

👑👑👑

28/8/2025

13:57:58 Estimated cash position:I've run the numbers upto end August.Using published numbers from Jan onwards but taking production estimates for jun/Jul/Aug for Wressle/KeddAnd July/Aug estimates for Andrew/Mocc. Cash at start of year £2.5mm. Wressle Kedd Revenue ~£1.33mmUS revenue £262k. Royalty income: £100kFund raise £1.85mm (after expenses). Total cash and post opex revenue about £6.1 mm. 2025 Costs:Admin £1.2mm ( 2024 annual £1.8mm)Mocc Drilling £460k ($600k)3 well US campaign £2mm. Total £3.7mm outgoing.That's about £2.4mm pro forma free cash. Not assumed any taxes or EPL due.

I have to wonder if Reabold place whether they would mention Colle Santo in their reasoning ?

Yet my research from Italy leads me to believe this will be contested still as areas have been overlooked by LNEnergy, for example the end of use emissions just like Finch successfully won against UKOG .. so far from a done deal yet.

But I guess thats how these companies operate with placings for assets, eg Biscathorpe that imo will sit empty forever.

We shall see...just my musings as the directors continue to do extremely well on poor shareprices.

In my opinion the Colle Santo project, that Reabold prioritised over West Newton, is of relevance to Union Jack where David chose to be a 16.66% partner with this company.

Also I watch with interest with Rathlin's imminent accounts

Will Reabold need to place for Rathlin to help them out with the West Newton gas or strange bitcoin project ?

If West Newton were to go wrong, who would pay the decommissioning costs, or, is that the new bitcoin mask now proposed ?

This is interesting as it mirrors the Finch enquiry with emissions:

'The Water Forum recalls that in its comments to the project, it was asked to calculate the initiative's overall emissions, not only the local emissions related to the construction and operation of the plants, but especially those resulting from the end use of the extracted gas. "This is the crux of the matter from a climate perspective," they explain, "yet the company has carefully avoided commenting on this central aspect. We'll see what kind of a pirouette the so-called ministerial experts have used to respond to our observation, or whether they too have simply overlooked it."

https://www.abruzzolive.tv/emergenzambiente/trivelle-sul-lago-di-bomba-per-il-ministero-si-pu-procedere-con-l-estrazione-del-gas-it37864.html

Itsawrap :

https://videocitta.media/2025/08/28/paglieta-si-oppone-allestrazione-di-gas-sotto-il-lago-di-bomba-un-pericolo-per-la-sicurezza-e-lambiente/

'The Municipality of Paglieta will use all legal and administrative means at its disposal to stop a project that poses a concrete and imminent danger...'

Not good PR for Union Jack Oil, David when you spot articles like this.

'mr karma has today paid a visit to david bramhill at union jack oil (ujo). i discuss the mess he now finds himself in and what to do next. '

https://*************.com/views/82086/tom-winnifrith-bearcast-no-2-more-schadenfreude-for-myself-the-vicar-and-pete-brailey-as-the-peasants-at-union-jack-oil-really-are-revolting-now

Gwynwin,

This would need to four to five bag to claw back some people's losses.

I wonder if that will happen before David an Joe retire ? I very much doubt it.

Is that as fast as the hands went up to pass the resolution ?

Come clean David on what went on, your not doing yourself any favours whatsoever hiding.

FYI itsawrap.... interesting read on today's RNS on Colle Santo for Reabold

Plenty of comments on it if you dig

Https://www.abruzzolive.tv/emergenzambiente/trivelle-sul-lago-di-bomba-per-il-ministero-si-pu-procedere-con-l-estrazione-del-gas-it37864.html

Monaco has presented an urgent resolution to the Regional Council committing the Executive to a series of concrete actions: "We ask that you immediately take action with the Government and the Ministry of the Environment to revoke the favorable opinion; urgently convene the relevant Commission to unblock the process of the proposed law establishing the "Lago di Bomba" Nature Reserve; convene an extraordinary Regional Council to take a united position of clear opposition to the project; and appeal to all appropriate bodies to halt the authorization process."

All so thought provoking.

Oh well...

07/8/2025 09:19:16

at the time of the AGM there were 106.6m shares.

SR 10 received 12,018,724 FOR and 7,318,167 AGAINST

for the SR to pass, it needed at least 21.954m votes

this suggests they needed 10m shares from a show hands in the room

I simply do not believe that there were shareholders with 10m shares in the room waiting to vote, that's almost 10% of the shares in issue

..but as you say 1347, they can literally "wave" through any Resolution

PS I have sent another email to LSEG asking them to confirm whether or not Directors can vote at the GM for the Warrants as imo it is a clear conflict of interest as they participated in the placing.

likeawalrus ADVFN