Member Info for itsawrap

A $3m drilling program that will return a fraction of that in revenue if the success matches the "success" of the 4 drills to date - whoever wrote that is deluded

Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF), a UK and USA focused onshore hydrocarbon, production, development, exploration and investment company is pleased to announce that the Company has signed a farm-in agreement with Reach Oil and Gas Inc ("Reach") to acquire a 60% working interest (paying 80%) in the Sark well, planned to be drilled early Q3 2025, located in Central Oklahoma, USA.

· 3D supported Sark well will drill a dip and fault closed large structure of 156 acres area and 40 feet relief

· Estimated recoverable resources of 1,440,000 barrels of oil gross

· Cost to drill, complete and develop circa US$1,100,000 net, including back costs of $236,800

· Estimated success case of NPV10% circa US$10,900,000 net, based on a US$65/bbl oil price

· Counter-regional fault down to the east in the Graben formed by the Wilzetta Fault with structural closure at Arbuckle level with further upside potential of 1,500,000 barrels of oil gross

· Hunton and 2nd Wilcox formations are the objective targets with Total Depth estimated at 5,500 feet

· Secondary targets productive in the immediate area include the Prue Sands, Red Fork and Base Pennsylvanian Sands

· Adjacent to an oilfield that produced circa 1,600,000 barrels of oil from the Hunton and 2nd Wilcox sands

· Chance of Success of finding movable hydrocarbons in this robust, multiple target structure is 65%

Sark is an untested Hunton and Wilcox structure with two main and several secondary targets present, adjacent to a producing oilfield. Closure exists throughout the prospective sequence beneath the 2nd Wilcox and the well will be drilled to the Arbuckle formation.

Bramhill's playbook...in a couple of weeks he will announce a stunning bpd number extrapolated from an hour's production, then we'll get another RNS saying it's the dog's bxllocks with another headline grabbing bpd number during testing...followed by reality

WN has re-invented itself several times - gas to oil - oil to gas - gas to Bitcoin - to unicorns & rainbows - obviously I want it to be successful but history is on the side of the pessimist

I doubt anything will ever happen at WN, Reabold's best hope is CS and even that is looking doubtful after 19 months

"EOG tripled from lows on a non binding farm out agreement"

.50 to .925 isnt exactly triple...Specsavers?

What do you see as the catalyst for the sp doubling so soon?

Persi you said this on the ujo bb this morning

"I am looking at this project from my shareholding in Reabold Resources."

why are you invested in RBD if you believe a placing is imminent?

I sold into the spike as I still cant see how a farm-out by Antler helps Europa's near-term cashflow. I suppose Antler could IPO but that would take months, so where is cash coming from to keep Europa running when cash-burn is clearly outstripping revenue?

Perhaps take your head out of your arse and read the RNSs? maybe even try to add some value once in a while rather than endless idiotic comments about grimms? btw, although grimmrapper" would be a great stage name, it's already taken, plus of course I can't rap

Bramhill is determined to keep doubling down in Oklahoma even if it means placing after placing and killing the sp each time. He has been totally fooled by Reach and in turn is misleading shareholders in RNS after RNS. The man is well past his sell by - he needs to go

Hi milnrow, I voted NO plus I have complained to LSEG that UJO directors voting in favour of warrants for placing shares is a blatant CONFLICT OF INTEREST as they participated in the placing. I received an acknowledgement but no updates as to any action being taken.

The Special Resolution needs 75% to pass, we have a chance of stopping if Directors are barred from voting and if shareholders make the effort.

The warrants are interesting, on one hand I would like to see UJO lose the vote as shareholders got screwed by another placing, on the other hand if the sp reached 9p or 10p, the warrants will be exercised and UJO will have a cash injection of up to £3.2m - with a 2 year timeframe £3.2m would be a large chunk of what is needed for WN or Penystone

...some corrections for you

- there are 2 producing oil fields in the UK, Wressle and Keddington.

- Wressle is declining but slower than predicted by GC.

- the warrants do not exist yet - they have to pass a special resolution later this month

- oil is being produced in the US at the Moccasin field

Morning wbafc, I have been in AIM for 10 years and have lost count of the number of companies that have sucked me in based of RNSs that over promise and under deliver. What they get away with is nothing less than scandalous - the market is rigged, companies are advised by paid Nomads who dont want to lose the business so they let companies play fast & loose with the regulations. Plus of course RNSs are carefully caveated to cover their arses despite the fact that overall they paint a ridiculously optimistic picture of what will be achieved and when. I now consider every RNS as little more than a corporate wish-list.

With regard to Nova, I'm surprised the sp is holding up so well as I expected it to track cash until we have concrete proof that they are growing revenue. There is an outside chance of a takeover at a small premium over cash but I'm not invested at the moment as I think it could drop 20% by year end.

I have taken a small position in ABDX which is a very similar company - low on cash but revenue improving.

"Or they woild have been getting lower and lower"...the sp is getting lower and lower, what planet are you on?

...imo gas-to-Bitcoin is highly unlikely, it's just corporate bullcrap to offer shareholders a nugget of hope.

However if they ever get the gas flowing at WN, it may be quicker to install an array of microturbines for a small server farm than installing the infrastructure for gas-to-grid. It took Egdon well over a year to install 3 microturbines at Wressle for on-site power generation and they still haven't secured planning for gas-to-grid despite talking about it for many years! If they get the gas flowing at WN I think it's far more likely they will use microturbines to power the site first with a server farm as an afterthought (if at all).

To all the "Bitcoin believers", ask yourself this...

If gas-to-Bitcoin is such a brilliant idea, why haven't they done it at Wressle where they already have a scalable microturbine array?

Ruth has added some of the comments from the bulletin boards : )

Https://find-and-update.company-information.service.gov.uk/company/14995644/officers

Oza & Williams are Directors of Kryptobye Ltd....so I guess they are serious - or want to give the appearance of being serious.

When the microturbines were installed at Wressle 2 or 3 years ago, I recall that they infrastructure was designed to be scalable. So as Hydras said, if Bitcoin mining is so compelling, Wressle would be a quick and easy win for the JV - the simply answer is that it's all bullcrap