Member Info for itsawrap

Hopefully Rathlin will get the NSTA greenlight in May - if its delayed beyond May, they will have to ask for an extension to the 30/06 activity deadline. RBD has the cash for the intervention, as does UJO as H1 revenue should be quite robust thanks to DT.

'Cash position at 31 March 2026 of £11.0m'

I recently said I valued ncyt at 20p-22p but if cash-burn continues at say £0.5m per month until breakeven, that may be generous by year end

Sadly there's more chance of the mcap dropping to £5 than the sp soaring to £5

Imo gas to BTC was nothing more than a confidence trick to get the sp up and get a placing away - exactly what happened. they now have a few million in the bank to keep paying 2 CEOs and a story to keep investors on the hook. If we are lucky they will revert to the original gas to grid play - that's much more realistic but banging that old drum was never going to re-fill the coffers, hence they changed the narrative to BTC

"The Crossroads well, planned to be spudded in Q4 2025 will penetrate a large 100 acre structure in the prolific Oil Creek Sand."

"The Crossroads well, following regulatory delays, is now scheduled to be drilled in Q1 2026."

"The Operator is confident that the well (Crossroads) will be spudded before the end of April 2026."

Not imo but cashburn continues to be a major issue so ncyt is vulnerable to a takeover - best guess? bought for under £10m - £15m within 2 years

Has anyone managed to access the NSTA wressle data for January? thx

Moccasin oil - Dec 1638, Jan 1150, Feb 1307

A-1 gas - Dec 2912, Jan 2703, Feb 1816

A-2 gas - Dec 708, Jan 630, Feb 501

If the gas to BTC plan ever comes to fruition, will RBD be paid for the "cheap" gas in GBP or BTC, it's not clear to me?

"...to demonstrate the ability to use West Newton gas to fuel datacenter developments that will be crucial to the future UK economy."

Is what world is BTC mining crucial to the UK? they should stick with Plan A (or was it B, C or D?), ie gas to grid. Much quicker and simpler to monetise the gas this way than spend years trying to get all the permits for BTC

'Reach Oil and Gas Company Inc, has informed the Company that the Crossroads well, USA will be spudded on or around 16 April 2026.'

...originally Q4 2025, Reach late as usual but apparently now imminent.

More importantly, what about our 75% of Diana? we were told "...Diana-1, designed to test a Wilzetta Fault play, will be drilled during Q3 2024.", this was delayed until Q4, then nothing, no explanation, no apology...it's now Q2 2026. Have we got our money back?

Https://unionjackoil.com/aim-rule-26/

updated as of 09/04/26

I suspect the Royalties are having a very good H1

Well said Joe. I do have one question though, profitable at what level? If WN is progressed in H1 (30/06 deadline) then that's £1.25m capex, if Bisc decommissioning is required in H1 then that's another large cost (unknown), plus outrageous salaries - all partially offset by a big uptick in revenue due to the war, even so, profitable in H1 depends on capex imo. btw after factoring in the Biscathorpe write-off, I calculate a 2025 loss of £6m-£6.5m

Moccasin oil - Dec 1638, Jan 1150, Feb 1307

Company News Union Jack Oil* (UJO LN) 3.4p, Market Cap £5.0m: Crossroads well to spud next week • Union Jack announced that the operator, Reach Oil & Gas, expects to spud the Crossroads prospect (43% WI) located in Oklahoma on or around 16 April 2026, which has an estimated pre-tax NPV10 of $11.6m net based on $65/bbl. • The well targets a 100 acre four-way dip closed structure mapped on 3D seismic in the prolific Oil Creek Sand, which the operator estimates has 1.67mb prospective resources over multiple target zones and a 40% Chance of Success. • The Company commented that its share of the drilling costs have already been funded, which were previously guided at $1.0m net to drill, complete and develop the well. The Crossroads well is a relatively medium-risk well identified on 3D seismic that looks to replicate the prior success at the Mocassin-1 discovery in Oklahoma, which has de-risked this play type for Union Jack and its local partner in the US. Despite the recent disappointment from the results of the first well in the current drilling campaign on the Sark prospect, on success the Company expects to be able to bring the wells onstream quickly and pay out within one year at $65/bb on success. While progression of the UK portfolio has been impeded in recent years, the potential revenues from an expansion at the producing Wressle field and the proposed development of West Newton are also expected to be material to the Company. We expect positive well results to set the tone for a Union Jack re-rating, as well as provide additional production and cash flows to recycle back into further organic growth opportunities within the current portfolio. *SP Angel acts as Nomad and Corporate Broker to Union Jack Oil plc

Clown

I currently value nova in the 20p-22p range so I'm staying out for the moment.

It's good news that we finally have a spud date for Crossroads but what about Taylor news?

'The Cromwell formation is scheduled to be treated with a nitrogen foam treatment to enhance production in Q1.'

Https://drillordrop.com/2026/04/03/campaigner-begins-legal-action-against-west-newton-fracturing/

Peter Lomas, from Hornsea, has given the Environment Agency (EA) 14 days to revoke permission for the operation at the West Newton-A site in Holderness. If the EA refuses, Mr Lomas will seek a judicial review in the courts, arguing the decision to approve fracking was unlawful and should be quashed.