Member Info for Jimmybob

A significant amount of data has been recovered including liquids samples and confirmation of zones which was one of the key reasons for the test was undertaken, this should dictate what type of well is drilled next and presumably with oil based fluids.

Whilst some are disappointed with this result it is by no means the end of what is a very substantial area for production of hydrocarbons. The Greater Newton area still looks like it has the prize of a substantial, economically attractive play once it is unlocked.

Both companies have been critised for raising money ahead of this but they are incorrect conclusions. UJO has a highly successful play at Wressle which needed additional funding and Reabold raised in January so as not to come to the market now after the reaction that we have seen. Speaking to the company today they said that Reabold ‘has no intention of doing a fund raise at the moment’ which should put that particular rumour to bed.

Reabold has been hit as the market thinks West Newton is all it has, actually Victory is looking good and California is still very live and in Romania the company is targeting prospects. As for UJO the company have clearly got plenty of other projects not least at Wressle where the numbers are very impressive indeed.

Union Jack Oil/Reabold Resources
Union Jack Oil and Reabold, have yesterday announced an update in respect of the West Newton A-1, A-2 and B-1z discovery wells as part of the Extended Well Test programme, accompanied by an updated estimate of in-place oil and gas volumetrics of the Kirkham Abbey reservoir in the Greater West Newton area of PEDL183.

The results of the EWT have confirmed that the WNA-1, WNA-2 and WNB-1z wells are substantial hydrocarbon discoveries. Gas and light oil/condensate were recovered to surface from the WNA-2 and WNB-1z wells, although sustained flow rates were not achieved, and multiple samples have been gathered for geochemical analysis which is currently underway.

The large suite of data accumulated during the EWT`s including downhole logs, pressure data, geochemical and core analysis will be used to progress a reservoir modelling study to determine the optimum production design for the Kirkham Abbey reservoir.

Over the coming weeks, a number of external studies, utilising the knowledge of specialist carbonate reservoir modelling energy consultants will be conducted, encompassing a wide range of potential reservoir stimulation treatments, the results of which could be applied to the West Newton series of wells, in order to achieve optimum flow rates.

David Bramhill, Executive Chairman of Union Jack, commented:
“The results from West Newton confirm substantial conventional onshore hydrocarbon discoveries.
“The Operator’s updated analysis of the best estimate in-place hydrocarbon volumes, aggregated
across West Newton and the three largest prospects, highlights a significant proportion are liquids.
“In order to unlock the value potential at West Newton and across the PEDL183 licence, over the
coming weeks a number of external studies will be conducted, encompassing a wide range of potential
reservoir stimulation treatments, the results of which could be applied to the West Newton series of
wells in order to achieve optimum flow rates.”

Sachin Oza, co-CEO of Reabold, commented:

“We are very pleased that the test programme has confirmed significant discoveries at West Newton at both the A and B sites, particularly via the recovery of both natural gas and hydrocarbon liquids to surface. The test programme has provided us with an abundance of data which will now be used to establish the optimum drilling and completion techniques for oil and gas production at West Newton. The B1-Z and A-2 wells are available for stimulation to achieve near term flow, and we already have permissions in place to drill the next well on the field.

The market was brutal yesterday as many had expected better news from West Newton although oil and gas were recovered to surface, not just seen on logs. The fact that it is moveable should de-risk the potential although it is clear that the reservoir is highly complicated and sensitive to fluids, particularly water based ones.

Just 2 weeks ago you stated planning was a formality? Persi you change like the wind and talk such crap through your many accounts!

RNST what value do you add to the reserves for all the future drills and discoveries across the portfolio including the other potential discoveries at Wressel ? This journey has only just started so I dont see how you can cap the share price based on today’s proven reserves? Or do you have a crystal ball??

So Persi what value do you put on our assets? The 6 million is cash in the bank. So what do you say is a fair market cap?

So if it’s all bad like you have been saying for the last 3 years why have you brought in and why do you hold? I don’t believe a word you say. You just spread fear with your dross unless you actually want to get in at a lower price? Is that your motive?

So 17 million market cap 6 million in the bank revenue coming in from Cali. WN potential and nailed on Victory value. Can you guys not do the maths? You think this is over valued do you?

So Persi how many shares are you holding you claim to be a long term holder? I tipped up heavily this morning could cash in now i those shares with a lump of cash. Holding on tight though and will get more at the end of the month. Potential and value will be realised here just a little patience and to ignore the doomsters and pretend holders like yourself. Please tell me why are you here? A question you cannot answer as I have asked you multiple times yet you do not declare your multiple accounts or motive???

The market cap is so low cannot go below cash in the bank. Cali returns coming in now with higher oil price. Potential of WN and Victory massive. Bargain basement.

Next well is fully funded don’t believe the derampers!

Great buying opportunity given Victory and the next WN drill. Market cap a pittance compared to the potential value of assets!

They don’t have shares mostly activists and paid derampers

So Persi will you be adding to your huge holding today;-). Or just spreading dross with your many accounts? Great result here vast potential hey!

Listen to the company videos these were the first discovery well on a massive onshore field to identify the optimum conditions for the planned abs funded sidetrack. Great result!

These were discovery wells to identify the best location and conditions for the side track. That’s always been the plan. All looks good to me don’t let the activists on here talk you out of your holding!

These were discovery wells to identify the best location and conditions for the side track. That’s always been the plan. All looks good to me don’t let the activists on here talk you out of your holding!

So why are you here spreading your fear & lies???

Fake shareholders and activists with a very few genuine holders.

Persi you lost credibility with me when you were shouting that Carillion had gone bust pulling RBD down with them some months ago. You have been spouting similar crap since.

Has anyone see a positive word from our co- shareholder Persi? I keep asking him why he is here spreading lies and doubt? He has no answer. Come on Persi what’s it all about?