Member Info for reaction

It's a Billion Dollar well but we don't like to talk about it. I wonder if they are in discussions and so cannot talk and keep us fully up to speed as they historically have made a point of doing previously.
I guess no news is good news then. At least I hope so. Not one lorry nothing, and yet they are always so far ahead of the situation. GLA.

Up to now Rathlin and the partners have been so informative and so vocal.
Now nothing, absolutely nothing. Not a whisper not even a mermer, it's like they all died and went to Heaven. I think it is a tell.
Is it really that big. Nothing not one word absolutely nothing. mmm This is looking better all the time.
This is becoming more interesting by the hour.

Very much looking forward to the continuation of the EWT. Planning decision on extra storage within days. I wonder how much Gas and Oil this one initial zone has. Just have to wait until the EWT is complete, and a revised CPR issued.
Perhaps they may issue a CPR for just the one zone perforated, I don't know. Or will they await the completion of the entire EWT. Very exciting times at UJO just how much OIL that is the question.
Bring on the convoy ! VIVA UJO !

17.23 post and onward refers to the recent flow test prior to this week. Just for clarity. As we know lots of work taking place in the background on what has been found. Hope the temporary suspension of flow testing ends soon. I am sure we would all love to see a convoy soon.

What Gas was is the Hydrocarbons brought to surface was incinerated off along with Oil. Although we do have some Oil storage on site. I guess we needed a sample from this very specific initial zone that has so far been perforated. Therefore imo Oil went into the tank and some sent for analysis.
Take a look at the UJO official twitter feed see the photographs and there descriptors.

More
Good to know we can all see these photographs on UJO (Company) feed.
FROM THIS WEEK OPERATIONS AT WEST NEWTON 2 WELL : Watching the Pressure Gauges during Flowing the Well #WestNewton #UJO #PEDL183 #Oil #Gas #WNA2 #EastYorkshire

12 replies29 retweets66 likes

David Bramhill, Executive Chairman of Union Jack commented:

"The confirmation of a major oil discovery at the West Newton project is highly encouraging compared to its original perception as a substantial gas discovery. We now await a revised CPR that Union Jack expects will provide details on the oil in place, gas in place and recoverable volumes. Given the positive value implications of a major onshore oil development, rather than predominantly gas as originally believed, we expect this will also lead to a meaningful uplift in the NPV10 calculations in the Revised CPR.

"The EWT will now be paused to allow the test equipment to be reconfigured to design and implement a revised production test which will better reflect the increased liquid hydrocarbon content of the production fluid. We believe this to be necessary in order to maximise the information derived from this EWT test information to drive this important onshore oil project forward.

"We now believe that West Newton will become a significant oil development project for Union Jack, our joint venture partners and for the onshore UK hydrocarbon industry."

Well obviously CO may well sell into the CPR rise although he may wait a little longer after his recent sells (he missed out on a lot of potential profit here, that will now ultimately be transferred to new holders). Leaving something for the next holder is one thing but after an RNS like that ouch ! Such is life. He has done fantastically well though.
I would imagine there will be a lot more shares sold into the CPR RNS than any one holder has. What matters is the base keeps getting stronger and higher. I want sellers ! I also I want buyers !
There is going to be one hell of a scramble to get into UJO once, and probably before they release the CPR. Lots of other news could also land any time that would catch a lot out even before the CPR.
It doesn't get any better than this.
I wonder if there might be some more sells on the stock today. I hope so. I dare not type were I believe the sp is going I would be laughed at. Sufficed to say many pence. Look what UK went to and they can only dream of an asset base like UJO.
What was it 10p a share. Now factor into the equation that UJO is the real deal. People have their own reasons for selling but I ain't selling nothing.

Because he placed the sell order before the stonker of an RNS was relrased. DOH !

I am sure none of us can understand why wytch farm was not discovered before it was either ;)))

At the very least he will be pleased with the new level of support for his remaining holding.
Bring on the CPR.
If he buys or sells more that's absolutely fine with me.

What he does with his holdings is his business. I can only imagine he is not at all happy at having placed the order (once placed could not be cancelled) to sell, only to have that stonker of an RNS released. However he has made a good return, and in selling 3% of UJO at that level (could be more going through yet) has allowed a firmer base to be built as people willingly take over his position. He must have very mixed feelings about the transaction I should think. But profit is profit.
News could land any time now.

imo There is no way Chriss Oil has acted upon inside information otherwise he would not have been selling imo.

P.S
UJO does not need ramping.

The fact that an investor has sold 3% of the companies stock and the price has remained firm is a positive. We need new investors to come in at higher levels to build firmer higher bases. On wards and upwards. The investor that sold is helping to achieve that.
Great to see that we have new buyers to replace the sellers.
With horizontal wells and a full field development plan. I think the majors will be very busy for decades to come.

Chance of a life time alert. Don't let them do it to you.
This is once every fifty years.

What a day that was. We have gone from the UK'S largest onshore Gas discovery that we still have. Plus also what is now declared an Oil discovery that could rival wytch farm. Think this is going to take a while to fully sink in. The entire dynamic just got turned on it's head. This was a company maker any way with that amount of Gas. But the Oil we have on that size of accerage and as Rebold said yesterday they already have identified other targets on the licence that they have very good seismic for amongst the other data to hand.
Absolutely bloody marvelous.
A dream coming true.

Yes indeed 45 meters of Oil. As DB stated today they know ! what we have. Just have to wait for all the test results to come back/complete the EWT.
So hope we do get to drill west newton B. So much is already known. If somebody wants to take us out I would like to think they would be paying multiple pennies a share with all that is known.
Where are all the nay Sayers. Hopefully we have seen the last of them for a while at least.
So comfortable with this stock. Once in a lifetime opportunity.

I'm just so overwhelmed for us all. You know.

So pleased for all of us shareholders and of course the companies involved.
We realy are on the way now. Fabulous news this morning. GLA.

We have received a mega offer for the licence area. Told to pack up and leave site. Big boys will bring their own humongous separator. Three two one i'm back in the room. LOL.