Member Info for Heid

Deary me...how wrong you were

Hmmmm. Probably sold ! Beware from old.

26/8/2025

Withdrawing a key element of the fundraise (the right to issue warrants and disapply preemption rights pursuant to their excercise) suggests either they didn't get the appropriate support or there's an issue with SR10 and the show of hands Or some other admin issue on timing of calling a GM or other administrative Fubar.I would presume having already issued the shares there's a bit of a tricky situation if they can't issue the warrants to the purchasers. Question is have they paid their 5p already or was it contingent on the warrants being approved?

kim_clay ADVFN

David,

I do find it rather amateur an questionable to have to withdraw your plans at the last hour when I would have trusted your group of men to had done their risk assessments an due diligence on these warrantssold inline with the unexpected/disappointing fund raise.

What about those that took part in the 5p fundraise ? They will no doubt feel cheated if you have changed the deal with them. But nothing changes for all those who believed your promises over the last few years with today's disgraceful 5p share price with those paid by the company doing extremely well versus performance.

Perhaps your Bitcoin plans at West Newton will save the day for Rathlin .. ? Or will there be a placing for Reabold on the cards ?

Shame you didnt change your plans on your Beacon TR1 or actually pay some dividends as promised instead of lining your own pockets.

D Bramhill £325,000 per year salary covered then in the USA

I wonder what C Howie's £37,500 will increase to in the next annual accounts ?!! Stick £100,000 on I would guess... Sark ?!

David did say in the last RNS :

'Following on the heels of the successful producing Moccasin well, the high-impact Sark well is of major importance to Union Jack, both financially and operationally.'

I bet it is David !! ...

J O’Farrell £150,000 -- Wressle funded

G Bull £50,000 -- Wressle funded

Charnia Resources (UK), an entity owned by Graham Bull £120,360 -- Wressle Funded

21/8/2025

US revenues for June at $60/bbl $3/mcf and $4/boe opex.$59k revenue $5k opex. That's $55k.thats currently £40k before any taxes that may be due.

kim_clay ADVFN

HIGH RISK

https://portal.sidoti.com/document-preview/72661/Company%20Update/1F3E5926-3D97-4B03-B45F-1FCB1D78B8DF/Union%20Jack%20Completes%20Private%20Placement%20To%20Fund%20Growing%20U.S.%20Drilling%20Program/07%2F23%2F2025/4000

'While the balance sheet has remained healthy, with net cash of £2.5 million at

the end of 2024, previous U.S. drilling had been funded entirely with cash flow.

We therefore maintain our high risk rating.'

Sark, Crossroads an Wolverine all being drilled...all costing money

These wells seems to deplete fast so I would say you need at least two to be decent or your costs will soon be swallowed up on dribblers.

Plus, oil price is not looking good towards end of this year...there will go your profits !

Andrews was a 'major' success an thats a dribbler

No one trusts a word you say David or has confidence in you to invest.

I mean come on...Bitcoin at West Newton...are you having a laugh ?!

I do hope the Bit Coin machines are soon in action at West Newton; the new Vegas 🌟🌟🌟

🎰🪙🌟🪙🪙🪙🎰🎰🎰

EIA is showin crude oil inventories growing...plus OPEC opening the taps more.

They predict Brent crude oil will decline from $71/bbl in July to an average of $58/bbl in fourth-quarter 2025 and around $50/bbl in early 2026.

Crude Oil still falling 62.32

-0.85

(-1.35%)

Next stop 61.

Grimmer 62$$ssss for oil

Going lower me thinks (Much lower)

Mind you, no planning as such for this bitcoin yet !!

The site could still ultimately need decommissioning with costs involved for all

How on earth will that be funded if the case ?!

Time ticks along an CEO's keep being paid hundreds of thousands of pounds

The board at Union Jack Oil is aging an my best bet would be Craig Howie will be taking the main stage over the next year or so hence him loading up with shares. He knows he will be refunded with his projected salary increase to sit between Joe an David's range...

I am convinced the bitcoin story saves them from having to decommission the site with all the costs involved for all parties.

Please can you not say dear David is a crook. That is so rude. He is hard working sat behind his shutter in that small office.

Dave hasnt asked for much with his salaries an bonuses in 2024 an 2023... £325,000 ... £398,333 💰💰💰💰

It is not easy not being the operator to get the share price to 5p.

Kim_clay ( ADVFN) -------

It's clear that they're looking for increasingly lower cost options as non of the WN partners have sufficient capital to fully appraise or develop the asset. The current re entry and prop squeeze is the cheapest option to establish if gas will flow at commercial rates. What the bitcoin mining idea suggests is that they're looking at options where any flow rate, if indeed there is one, is sufficient to encourage further appraisal drilling with a long horizontal well which will be needed to confirm sustainable commerciality, but they don't have the capital to do it (£12mm when last costed). An otherwise stranded sub commercial flow from the prop squeeze well could be used to generate electricity from a gas turbine. Whether it's more profitable to sell this power into the grid or mine bitcoin is unknown. There's no mention of the capital cost of the generator or the mining kit or the amount of power required to mine one bitcoin. The number of kWh quoted online required varies wildly from 100's of thousands to several million. If it's planned to do it on site then planning will be needed as well, if it's at a remote site then it'll need to be put into the grid anyway. It would also potentially forestall the £2.5mm well abandonment and site restoration obligations the partners have, which may also be a factor in trying to keep the sites active.

Just showed what a con it was when people paid 30ps here an still hold ! But they dont matter any more.

The future was never bright then like we were all fed in every annual report

Peter Mcdougall Hamilton :

I'll have a bit of whatever it is they are smoking 😆

₿₿₿₿₿₿ or is it ⛽⛽⛽⛽⛽⛽

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣