'maiden profit to be posted'25 Jul 2022 08:42
'To date, due to Union Jack's current capital expenditure programme, the recently introduced Energy Profits Levy of 25% is not expected to be material to the Company'
The new levy has a built in generous allowance which will reward those companies who invest in oil an gas production. Now then, our Mr Bramhill is confident in this comment that we are covering our bases here not to be penalised an only at small loss to us. With the kind of profits we are making is there a future plan here with the 'future being bright' for something new to be introduced to out portfolio of assets investing in to oil an gas production further ? !
'The Gaffney Cline report continues to be updated and upgraded to reflect increased production rates and also incorporate other ongoing positive reservoir modelling and production profiling exercises into its final analysis.'
'Gaffney Cline have also been instructed to comment on any possible untapped resources at the Wressle-1 well that may be present.'
As I tweeted at the weekend....
'Just wait till the *****tone Flags start flowing with gas to grid, Wressle will be phenomenal. The Gaffney Cline report will be something impressive. 7000 bopd is classed as offshore-onshore find. I do believe that one day Wressle wont be far off that number. #UJO #EDR #EOG'
So all of those on this board who suggest there are issues with the Gaffney Cline report or disagreements...you have it in the RNS..Wressle is a FANTASTIC well that keeps giving under pressure with no water cut surprising everybody.
Union Jack Oil - STRONG buy.
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