Member Info for monet2

From last evening, Eden wins the annual ESG award 2024

https://mailchi.mp/smallcapnetwork/2024-small-cap-awards-winners-announced

UJO has held up a lot better than most oil companies today. I know ujo not in the north sea but it affects all oil companies.

Labour Manifesto...or Fiasco...

hTTps://labour.org.uk/change/my-plan-for-change/

We will embrace the future of energy production and storage which will make use of existing offshore infrastructure and the skills of our offshore workforce. Labour will not revoke existing licences and we will partner with business and workers to manage our existing fields for the entirety of their lifespan. Crucially, oil and gas production in the North Sea will be with us for decades to come, and the North Sea will be managed in a way that does not jeopardise jobs. And our offshore workers will lead the world in the industries of the future.

We will not issue new licences to explore new fields because they will not take a penny off bills, cannot make us energy secure, and will only accelerate the worsening climate crisis. In addition, we will not grant new coal licences and will ban fracking for good.

To support investment in this plan, Labour will close the loopholes in the windfall tax on oil and gas companies. Companies have benefitted from enormous profits not because of their ingenuity or investment, but because of an energy shock which raised prices for British families. Labour will therefore extend the sunset clause in the Energy Profits Levy until the end of the next parliament. We will also increase the rate of the levy by three percentage points, as well as removing the unjustifiably generous investment allowances. Labour will also retain the Energy Security Investment Mechanism.

He has no friends only Heid

Uggy (Rathlin have tried to find funding for over a year now.) because who wants to invest in UK or JV when you're going to have to pay 78% tax and may well have investment tax cut.

I think we can forget drilling West Newton or any other operations in the UK if Labour get in,there's a possibility of scrapping the investment tax relief. Oil and gas company are already giving back licences in north sea and postpone drilling activities in the UK.

(North Sea firms postpone oilfield opening after early UK election called

June 5 (Reuters) - Three British energy companies have decided to delay by a year the planned start of oil production at their joint-venture oilfield in the North Sea, citing the need for clarity on the fiscal policies of the next government.

Jersey Oil and Gas JOG.L, which owns 20% of the Buchan field, gave the update on Wednesday on behalf of the joint venture partners, among them Serica Energy SQZ.L and 50%-stake-owning operator NEO Energy.

Many North Sea oil and gas producers have been merging, shifting overseas, and cutting investment as Britain's windfall tax slashes profits and the opposition Labour Party threatens more tax if it wins the next general election.)

Heid open her mouth and the share price goes down again, Give it a rest.

10:26

tony how do you know he's not? Nobody knows what's going on in the background

This should get rid of the weak holders, every time the SP goes down a bit comes back stronger.

To $77.3

Brent crude futures fell below $78 per barrel on Tuesday, sliding for the fifth straight session to the lowest in four months amid concerns that global supply could increase later this year. On Sunday, OPEC+ agreed to extend most of their supply cuts into 2025 but opened the door for voluntary cuts from eight member countries to be gradually unwound from October onwards. By December, more than 500,000 barrels per day is expected to re-enter the market, with a total of 1.8 million bpd returning by June 2025. Signs of economic weakness in the US, the world’s largest oil consumer, also weighed on oil prices after US manufacturing activity contracted further in May. Moreover, oil markets have been pressured recently by fears that the US Federal Reserve will not cut interest rates this year, potentially slowing economic growth and reducing oil demand.

hTTps://tradingeconomics.com/commodity/brent-crude-oil

Nice 650k buy

Anyone heard anything about the new Jet Pump for Wressle when it's going to be fitted? and how long will it be shut down for? this might be why the SP keeps going down!!

https://x.com/UnionJackOilplc/status/1793160577054880255/photo/1

A few sellers again this afternoon. 8 straight down days from 24p to 19.5p. How much lower will it go?

Looks like they're going to need to raise funds

Cash as at 31 December 2023 was £0.68m (2022: £1.35m).

Persim

We all know nothing's going to happen with Daybreak we've not heard anything for ages.

So your post is irrelevant

What's that got to do with RBD?

Election spells end of North Sea as Labour policies doom oil industry

Starmer victory would prompt operators to give up on British waters, warn analysts

https://www.telegraph.co.uk/business/2024/05/25/election-end-north-sea-labour-policies-doom-oil-industry/

Not directly related to UJO in the north sea, but the tax will affect all oil companies.

https://www.telegraph.co.uk/business/2024/05/25/election-end-north-sea-labour-policies-doom-oil-industry/

malcy’s blog

to say that this is excellent news is an understatement, with andrews 1-17 now a commercial discovery ujo have the makings of a great base in the us with a top quality partner. obviously testing continues but the rocks look good with plenty of upside and oil at 41 degrees api is what dreams are made of and sales are already underway.

the next moves are construction of production facilities which is already happening and the associated gas will be monetised by adding further facilities. whilst that is going on the follow up well andrews-2 is being planned with the intention of drilling as soon as possible with no reason at all why it won’t be another success.

i don’t think the market has any real idea of what david bramhill and team are on to across the board at ujo. obviously wressle carries a big weight in the valuation but in my view there is nothing in there for the *****tone flats or the ashington grit formation and there is also west newton to bear in mind on the upside.

the move to the usa though is without doubt the piece de resistance, investing this amount in the uk would take years to come to fruition and a return might be small and decimated by fiscal greed. in the usa, returns are as we have already witnessed can be swift and substantial, state interference is minimal and profits are encouraged.

the strategic initiatives that ujo have commenced are already bearing fruit a matter of weeks since first drilling, whilst i am not running ahead of myself, these us investments can confidently be assured of a very decent, speedy return, enabling activity elsewhere in the portfolio and a handy source of income to support distribution to shareholders.

https://www.malcysblog.com/2024/05/oil-price-ujo-ceg-coro-eog-and-finally/

13:14

Don't forget Rod has a few millions paid shares, I don't think he'll want too much dilution.

Https://drillordrop.com/2024/04/25/archaeological-challenge-to-wressle-expansion-plans/