Member Info for Phoebus

Ignore all the negativity and deramping doublespeak and instead focus on the huge potential of
the imminent West Newton drill. According to the recent UJO presentation the drill is targeting net recoverable 2C/P50 of 110.6 MMBOE gross, 18.43 MMBOE net to UJO. This is calculated to have an NPV10 in the success case of £840M ($1.1B) gross or £140M net to UJO, with a risked pre drill valuation of £47.1M net to UJO. This equates to a share price of 1.66p in the success case and a risked pre drill valuation of 0.56p. Does that sound high? Well consider this, a discovery of 110.6 MMBOE would be a quarter the size of Wytch Farm, which at 450 MMBOE is the largest onshore field in Western Europe. This is a huge drill especially for a company with a market cap of £11M, offering more than 12 times the BOE net to UJO than the Biscathorpe drill. Yesterday's sudden drop in the share price on the result of the small well has presented us with an excellent entry point for the really big drill. Ignore the pessimists and the doublespeakers hovering up shares. Go read the presentations and RNS statements and do the calculations yourself. The upside potential here is massive. UK, onshore, fully funded, fully approved and drilling soon. GLA

http://unionjackoil.com/wp-content/uploads/2018/10/UJ_RathlinOpportunityPres_Oct2018.pdf

Excellent.

Don't be unkind Rocky, he obviously failed to buy on the dip. Didums.

Nobody mentioned a placing. LOL. They are fully funding for sitting on their backside for a while hoping for a farm out after the last two farminees walked. They are not fully funded for doing any drilling. Long wait before anything interesting happens here.

Not a chance. Already fully genned up here and see no reason whatsoever to buy at this stage. Good luck if you're having a quick trade though. You might make a bit if you're sensible.

And to be fair this news was already a given.

Sure am, just it requires a telescope it's so far away. Nice SP increase, but how many will manage to sell out in the wafer thin market before the SP craters again. No money to drill, no partners, no rig, no drilling planned, no operations planned at all. Nada. Will be worth it a some point in the future, but there are plenty of opportunities elsewhere before then. Good luck anyway.

Enjoy getting spiked. This is going nowhere.

Nice one. Yesterday was just a scratch. Folks will be gutted they didn't buy the dip. WN is a big deal for UJO and the rise in SP will reflect that.

I suggest you read the West Newton presentation before selling up.

http://unionjackoil.com/wp-content/uploads/2018/10/UJ_RathlinOpportunityPres_Oct2018.pdf

Bullshit.

Read the presentation and drool. It's a no brainer at these levels.

http://unionjackoil.com/wp-content/uploads/2018/10/UJ_RathlinOpportunityPres_Oct2018.pdf

Nonsense. UJO is drilling West Newton next and the well has a far larger resource size net to UJO than Biscathorpe and a higher COS. The well is already fully approved, fully funded and drilling is imminent. Time to back up the truck. Beep.

Fantastic news if you wanted in for West Newton.

Yep. West Newton is imminent and 'fully approved and drill-ready'. See UJO presentation. Upside is huge.

Anyone that was in for Bisc that is selling now is a clueless numpty IMO and should be ignored. Bisc was always small beer and the overreaction has been comedy gold. Buy with both hands at this level. GLA

A few red days? That's not how UJO rolls in my experience. 0.12p within the week is more like it. West Newton looks fabulous. So glad I had the opportunity to buy. GLA

Sorry, 3.5 times P50 resource size net to UJO compared to Biscathorpe.

Fully funded, 3 times P50 resource size net to UJO compared with Biscathorpe, higher COS at 60%, spudding Q1.

Biscathorpe was only 1.5 MMBOE P50 net recoverable to UJO LOL. The big one is next. Fill your boots. This will rocket from here. GLA