Member Info for reaction

“With the planned activity across our material projects, we believe that there will be a steady stream of RNS announcements, updates, research publications and reports published throughout 2022.

“Union Jack is in a sound position both operationally and financially and we look forward to the future with enthusiasm.”

Union Jack has had by pretty much any standards a very good year operationally which is by no means reflected in the share price which has underperformed significantly. You only have to look at the numbers in the update above to see that as owner of a substantial portfolio of onshore UK assets some of which are throwing off meaningful cash in particular Wressle which has exceeded all expectations. As and when it can shake off this malaise I expect the share price to rise dramatically which would be only what they deserve.

If a divining rod for oil were to be deployed at Wressle it would throw a person 6ft into the air.
So looking forward to the CPR.

Two steps back. Cold light of day. What a fantastic RNS to awaken to. UJO share holders are assured of of fantastic return here.
You couldn't be any thing other than extremely pleased.
Well done to UJO and partners and all share holders. The present and future look fantastic for us now.
That is a beautiful RNS. They must have enjoyed putting that together. What a pleasure. So much information and so positive. Won't suit all.
Glad I am not sat on the fence.

Plenty of news due. CPR for Wressle could land any time now. I have to wonder what the sp will suddenly jump up to once it is released. $100,000 per week income, plus an increase in the pipeline ;) A decent gap up here. Several days of large % rises at least 3 consecutive days,with plenty more to follow over all.
I can see this surpassing the years high. So many people just waiting to take a position. No trades yet as such.
Just waiting for the RNS first.

So pleased that the equipment at Wressle maxed out. The production of electricity in tandem to the oil and gas already approved previously is more income for UJO.
" Revision to the Environmental Permit received, enabling the installation of a combustion plant to facilitate gas to electric generation."

From an EDR rns.
The Wressle-1 well has continued to exceed production expectations since the successful completion of the coiled tubing operations on the 19 August 2021. To date, instantaneous flow rates in excess of 884 barrels of oil per day ("bopd") along with 480,000 cubic feet of gas (c. 80 barrels of oil equivalent per day) have been achieved from the Ashover Grit on a significantly restricted choke setting (30.5/64ths) and with a high flowing wellhead pressure. Thus far, no formation water has been seen as the well continues to clean up.

Even with the excellent flow rates seen to date, the full flow potential of the well remains to be fully tested due to constraints being experienced with the gas handling equipment.

The forward plan is to remove these constraints to production and complete the testing of the well's potential before defining a plateau production rate matching the well behaviour to the installed facilities, long term operational objectives and prudent reservoir management.

We can also advise that we have now received the revision to the Environmental Permit, enabling the installation of a combustion plant to facilitate gas to electric generation and a new potential revenue stream.

Since being returned to production on 19 August the well has generated revenues in excess of £300,000 for Egdon.

The longer we test with the higher flow rates the more money in the bank.
Let the testing go on and on and on £££££££££££ YEAH BABY££££££££££££££££££££££££££££££££££££££££££££££££££££

Highlights

· Landmark US$1,000,000 net revenues generated to Union Jack since re-commencement of production on 19 August 2021

· Current daily production figures well in-excess of prognosed 500 barrels of oil per day from the Ashover Grit reservoir

· Elevated production rates maintained during well test on significantly restricted choke setting and sustained high flowing wellhead pressure

· Well is producing under natural flow

· Clean up continuing and full potential yet to be achieved

· Zero water cut

· Staged site upgrades have commenced

· Wressle production highly profitable at current oil prices

· Further development and production at Wressle can be achieved from the Wingfield Flags and *****tone Flags formations

· Gaffney Cline Competent Person's Report commissioned by Union Jack ongoing

EOG are not the operator. Once the well test is complete we will see the new CPR from the operator EDR.
Private info until then.
Looking bloody marvellous though.
Won't suit all.

Wed, 8th Dec 2021 07:00

RNS Number : 8898U
Europa Oil & Gas (Holdings) PLC
08 December 2021

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas



Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')

Annual General Meeting Statement



Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and Morocco focused oil and gas exploration and production company, is holding its Annual General Meeting ('AGM') later today. At the meeting, Brian O'Cathain, Chairman of Europa will make the following statement:



"As we have highlighted in the past, our core focus at Europa is to deliver a balanced portfolio of both high impact exploration and existing production assets. With this in mind, the last year has proven a very busy period for the Company and we are very pleased with the operational progress that has been made. Most notably, we have delivered on our expectation of not only producing the first oil at the Wressle oil field in North Lincolnshire, but also increasing our overall production significantly.



Following the successful, incident-free proppant squeeze at Wressle, the Europa team and the PEDL180 joint venture partnership should be commended on helping to drive Europa's net Wressle production, post our financial year to 31 July 2021, to 165bopd (October 2021). This resulted in total production for Europa of 240bopd for the month of October 2021. When set against an estimated break-even oil price of US$17.6 per barrel for Wressle and current oil prices of cUS$71 per barrel, the Wressle asset has delivered meaningful revenues to the Company. With well flow continuing to "clean up", we are confident that Wressle has still to reach its full potential.



I also welcome recent comments from the Chairman of the Oil and Gas Authority, Tim Eggar, indicating that continued production and exploration of both oil and gas in the North Sea is vital to meet the UK's energy requirements. He highlighted the advantages of domestic gas production over imported LNG, emphasising it's 50% lower carbon impact when compared to imported LNG. Oil and gas still account for three quarters of the UK's energy consumption and our activities play a crucial role in ensuring continued security of supply, while transitioning to a higher penetration of renewables in the energy mix in years to come.

Hi itsawrap. For sure UJO need to get that money to work.
Come on UJO that's plenty low enough to transact now surly.

Oh well, At least the money keeps pilling up in the Bank.
But what will they do with it all.
I know, give some to us. Merry Christmas !

Yes MickyBee noted, think if the operator or UJO were to release some positive news it would help.
Apparently there is plenty of it due.
They don't release any though. I wonder why.

Hi Mirasol,
No, I am absolutely serious. The point has come were I do genuinely believe there is more going on than meets the eye here.
(isn't there always). Two steps back and all that. Just my thoughts. Not intended as a ramp. Genuinely. An opinion.

Opportunistic/Friendly/Hostile. A real possibility now at this market cap.
Could a Take over be what the BOD are trying to flag up here.
Just a thought. With the money on the books and money coming in this is way beyond an opportunity for the PI.
You never know. People are going to be looking at this market cap.
Same with EDR 6.25 MARKET CAP. They owe UJO 1 million £. Something or some one will have to give, this is Micky mouse money now. UJO could actually afford to make a play for EDR if they wanted to.
Unless the respective share prices stage a swift recovery I can see a transaction happening here. The flags are out. mmm.

Good to see Wressle keep moving from strength to strength.

"over 10 weeks old info , since then the SP has plummeted"
Yes it must be noted that we have moved a lot further forward since. $1.5-$2 million dollars in the bank I should think.

21 September 2021



Union Jack Oil plc

("Union Jack" or the "Company")

Wressle Update PEDL180 and PEDL182



Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to offer a highly encouraging update in respect of ongoing operations at the Wressle hydrocarbon development ("Wressle"), located within licences PEDL180 and PEDL182 in North Lincolnshire, on the Western margin of the Humber Basin.

Union Jack holds a 40% economic interest in this development.

Highlights

· Instantaneous flow rates from the Ashover Grit reservoir of 884 barrels of oil per day ("bopd") achieved on a significantly restricted choke setting (30.5/64ths of an inch) with high wellhead flowing pressure

· 480,000 cubic feet of gas produced per day (circa 80 barrels of oil equivalent per day)

· In excess of 950 barrels of oil equivalent per day achieved

· Full flow potential of Wressle remains to be fully tested

· Zero water cut

· Revision to the Environmental Permit received, enabling the installation of a combustion plant to facilitate gas to electric generation

· Leading energy consultancy, Gaffney Cline & Associates ("GaffneyCline") commissioned by Union Jack to prepare an updated Competent Persons Report

· Since being returned to production on 19 August 2021, Wressle has generated in excess of US$480,000 net in revenues to Union Jack

Wressle has continued to exceed production expectations since the successful completion of the coiled tubing operations on the 19 August 2021, instantaneous flow rates in excess of 884 barrels of oil per day ("bopd") along with 480,000 cubic feet of gas (c. 80 barrels of oil equivalent per day) have been achieved from the Ashover Grit reservoir on a significantly restricted choke setting (30.5/64ths) with high wellhead flowing pressure. Zero formation water has been seen as the well continues to clean up.



Excellent flow rates are currently being recorded, however, the full flow potential of the well remains to be fully tested due to constraints being experienced due to the scope of the gas handling equipment currently being used on site.



The forward plan is to upgrade the gas handling equipment to enable increased production volume and complete the testing of the well's full potential before defining a plateau production rate, matching the well behaviour to the permanent facilities, long term operational objectives and prudent reservoir management.



GaffneyCline



GafffneyCline is an international energy consultancy, which has been operating worldwide since 1962. GaffneyCline focuses solely on the petroleum and energy industry, specialising in the provision of policy, strategy, technical and commercial assistance to governments, financial institutions and national and international oil, gas and energy companies worldwide. The provision of Energy Transition advice and Carbon Intensity Assessment have

Very exciting that the original equipment has been maxed out.

"The forward plan is to upgrade the gas handling equipment to enable increased production volume and complete the testing of the well's full potential before defining a plateau production rate, matching the well behaviour to the permanent facilities, long term operational objectives and prudent reservoir management."

Nature/well integrity/optimal flow rate will decide. Fortunately no water. Could you imagine some one some where saying right you can do 500 bopd and flood/collapse the well. LOL.

They would't spend money upgrading the site for any other reason than a calculated and anticipated good return.
Plenty of oil/gas and data to justify the spend.
Great buying opportunity at the moment although some will always want in for even less. I think this must surly be about as good as it is going to get to buy in.( I hope). Plenty of upside from here anyway I would say.

All looks good to me. A matter of perception I suppose.