Member Info for Jarv55

We know how Aim works when teh market is ready they will let it go look at this as an opportunity to buy the dip.

BWS it hasn't bagged because we have had a heavy seller or sellers combination of early entrants taking profits, panic sellers who thought they got spiked and maybe Frazer or Coil taking off a few time will tell who but expect to see a TR1 if not the company should be able to check the share register.

BWS as you are a long term holder what are the chances of Humber and UJO merging? I see the have a mou in place for other onshore opportunities

The Directors of Union Jack Oil plc (AIM: UJO) are pleased to announce that the Company has agreed terms on a proposed farm-in for a further 10% licence interest in PEDL253 ("Proposed Farm-in") increasing the Company's economic interest to 22%. PEDL253 is located in the South Humber Basin and contains the drill-ready Biscathorpe Prospect, where the Biscathorpe-2 conventional exploration well is planned to be drilled around mid-year 2018.

The Company has also entered into a memorandum of understanding ("MOU") with Humber Oil & Gas Limited ("Humber"), a private company incorporated in England and Wales, which forms the basis of an ongoing commercial partnership whereby both parties will seek to co-invest in UK onshore hydrocarbon opportunities going forward.

The Company has raised £1.25m by way of a placing and subscription of 1,470,588,226 new ordinary shares of 0.025p each ("New Ordinary Shares") at a price of 0.085p per New Ordinary Share (the "Fundraising"). The placing comprises 1,311,764,701 New Ordinary Shares ("Placing") and the subscription of 158,823,525 New Ordinary Shares ("Subscription"). SP Angel Corporate Finance LLP acted as sole broker on the Placing.

AJamesW lse

To be honest its Flow rates and Bod sold which will kick this off. AIM is well used to Oilers stiking oil and then producing very little. Not in this case, becuase of the liquids their original test program was the Gas hence the Flair stacks. Now it a liquids/Gas separator, flairing the Gas and storing the liquids
Brent is around $62 per B
500 BoD = $31,000
Condensates $43 per B
500 BoD = $21,000
Of which 16% goes to UJO

James how much is light crude oil?

BWS then you have read the accounts then? I am all for questioning our investments as we go along but I can't see him placing before the core results are out and the the extended tests have completed why would he? The share price will be a lot higher if there is oil the market will just have to pay more or buy now while it is low.

In a few weeks time we will know if they have hit Oil and IF they have that will produce revenue in itself.

read page 5

https://beta.companieshouse.gov.uk/company/07497220/filing-history

posted on rbd bb by teaboytalk
Not sure this has been mentioned before but have a look at 11th June 19 entry.
https://beta.companieshouse.gov.uk/company/06478035/filing-history
Stephen Foss buying a cool £250k of Rathlin shares.

With this likely being the chap:
http://cordiantcap.com/sn_uploads/190227-London-Office_1.pdf

Not ruling out a placing here think the city would like to get involved. I am sure DB has had brokers on the phone already.

They need to pay 25% of the costs if I remember rightly 25% of 4.5 million. Don't quote me on that though.

They had just over 2.5 mill on May the 1st. Db said yeariy costs are low around 750k a year.

Options are we get a jv partner, place, swap equity for debt or use the proceeds from any future gas/oil production they may find during testing or a major takes us out early. Personally I wouldn't mind a small placing to provide capital to prove up the licence further. Especially Spring Hills. The more we find the higher the price for a take over. If a placing is for growth it isn't a bad thing. Also I would think the Qc will be going for a refund of all costs for the failed planning permission not granted on Wressle yet . November is not very far away if they get permission they could be producing 500 barrels per day from Wressle.

Blackwoodman what if Rathlin sell half of their stake to cover their debts?

www.califor niajoe.co.uk/the-union-jack-oil-safety-net

http://www.********************************.co.uk/the-union-jack-oil-safety-net

Will we have a Jv or straight buy out?

Bronzy the major will want to make money on its purchase don't forget Springhills the licence is huge, could have a lot more in it and if you look at https://www.rigzone.com/news/oil_gas/a/18908/roc_oil_sells_saltfleetby_gas_field/ you will see at the moment WN is worth about 130 million that is with out any possible oil.

Worth a read

https://www.rigzone.com/training/insight.asp?insight_id=325&c_id=18

AJ
Agree I think RBD are putting the for sale sign up

Think those sells yesterday are either Coil or Frazer should get a TR1 today or tomorrow

Rbd are going all out on the PR

https://www.sharesmagazine.co.uk/news/shares/uks-largest-uk-gas-discovery-claimed-by-exploration-juniors-reabold-and-union-jack

All those sales come to approx 1.2 million