George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Good to have a full survey when buying a house. Ujo could become part of industry consolidation. Good to have a full report to hand for any potential negotiations. It all helps to be ahead of the curve. Looking forward to a positive week.
What fantastic RNS'S we are getting. Big well done to UJO and all partners.
Wressle is a very much larger field than first thought. So looking forward to the CPR and reserves report. This is the kind of field that companies dream of. There must be so much oil at Wressle. The more they look the more they see.
They clearly believe they have something very special here.
They have done well to keep this one under the radar. Not giving the game away yet are they.
But I think there are those that know this is a very substantial field in the making.
There are reports coming in from people close to the situation that Putin has been informed the the British prime minister is globetrotting trying to secure oil to replace Russian oil. He has been made aware of the decision by the local councillors for North Kelsey, and roars of laughter can now be heard from one end of the Kremlin to the other.
You couldn't make this up if you tried.
I think we already know the out come of to days planing meeting before they announce.
Another "RED" day then.
Looking forward to the planing meeting tomorrow. I truly believe we must have a very strong case here just on the environmental issues alone. We get West Newton up and running imagine all the pollution that won't be caused by shipping oil half way around the world. (Massive plus).
The greens will still have a moan as always. (Never satisfied). The Reds in green camouflage will be non to pleased either.
I do hope West Newton produces good volumes of oil/gas. We won't have to buy quite so much globally. This will leave more for places in critical need such as Germany. Every bopd is going to count in this new reality.
100,000 U.S troops reinforcing European borders now. All bopd welcome.
It is great to think that UJO can help to fill the fuel tanks of not just the U.K. But in consequence Europe.
"Every little helps".
UJO our company can play a meaningful role. Let's all pull together. UJO it's all in the name you know !
Beware the "REDS UNDER THE BED"
Looking forward to West Newton coming on line. Most reasonable people are moving in the same direction.
Will be good to have more reserves land based, and spread all over the place. All adds up bopd. More security on land also.
Lets get thees wells spread out across the U.K. Most councils will be onside. We must stop using Russian oil.
"VIVA THE UNITED KINGDOM." Support your country. "BUY BRITISH IF THEY WILL LET YOU"
I see the the U.K oil and gas sector was yet again disadvantaged by local councillors going against the general consensus to include their own planners. It has become apparent over time that oil and gas applications are sent straight to appeal as standard now.
The little local yokel,personal agenda driven councillors do not want to pass thees applications for fear they may not be re-elected by their local clan members.
The Central Government need to understand that local councillors in general do not want the responsibility of thees decisions. They stand to be voted out next time by agenda driven activists funded by very spurious means. This is why each time application is made they are made to appeal.
Thank god the Government are now to establish a body to deal with U.K energy security. I hope for the sake of the little local councillors and the great British public that in future matters of such gravity will not be thrust upon them. They generally cannot do it at local level. It is all to close nit and incestuous.
Come on Government take them out of the loop. It is all to close and incestuous the councillors can't function in an unbiased and balanced way. Please HELP ! take thees powers away ! ! !
The British public have been disadvantaged for long enough.
"REDS UNDER THE BED".
UJO Achieving so much it is hard to keep up. I would like to think the monies below have been paid over by now.
So much progress being made across the board, HMG now on board. Compounded by this Black swan event.
This is only going one way now over all. This was way undervalued to start with. Imagine what thees shares are really worth going forward. Got to feel sorry for people that need to sell for whatever reasons.
Tue, 22nd Feb 2022 07:00
RNS Number : 3363C
Union Jack Oil PLC
22 February 2022
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company`s obligations under Article 17 of MAR.
22 February 2022
Union Jack Oil plc
("Union Jack" or the "Company")
US$3,000,000 Net Revenues Landmark Reached at Wressle
Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon production, development and exploration company, is pleased to announce that material landmark net revenues have been achieved from 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
· Landmark US$3,000,000 revenues generated to Union Jack since re-commencement of production on 19 August 2021
· Current daily production figures range from 600 to in-excess of 700 barrels of oil per day from the Ashover Grit reservoir, constrained on a restricted choke
· Well continues to produce under natural flow
· Zero water cut
· Staged site upgrades are progressing well
· Union Jack continues to be cash flow positive covering all corporate, administrative and project operating costs
· As at 21 February 2022, cash balances of £6,163,795 and receivables of £2,071,375
· As a result of increasing revenues and the effect on cash balances, Union Jack intends to make an early settlement to Calmar LP of £2,080,000, on or around 1 March 2022, in respect of previously reported acquisitions of 25% of PEDL180 and PEDL182 containing the Wressle development. This will eliminate all major current trade payables.
· Oil revenues to 31 December 2021, will be in-excess of £1,890,000 (2020 audited, £158,004)
· Debt free
Executive Chairman of Union Jack, David Bramhill, commented: "The revenues of in-excess of US$3,000,000 to Union Jack from Wressle, whilst under test production, are highly positive for the Company, which remains in robust financial health as the above figures illustrate.
"We believe that Wressle holds significant further upside which will be demonstrated over the foreseeable future, and we look forward to reporting on progress in respect of site upgrades and achieving optimum production rates in due course.
"In a
Very reassuring to see there will be no trial by media from UJO. We can leave that to the gutter press. I am liking the professionalism being shown by UJO. Build and substantiate the case and hand the proof ! over to the authorities.
As a shareholder I would not want the company UJO to prejudice any potential proceedings with leaks/untimely or unwise ramblings. Like what some of us do at times. ;o)
Looking forward to the sp continuing to make a recovery.
Some good news to give us a push back up would be most welcome.
Great to have a tight ship. Good !!! Keep it up !
Absolutely blown the bloody doors off !
I think there will be quite a few out there taking a knee, as they think of UJO.
To say thank you and well done to all the partners just doesn't seem enough somehow.
Let the mother of all re-rates begin.
Very pleased with to days confirmation of oil and gas at West newton.
"This initial analysis confirms the significance of the in-place resource and crucially, has de-risked the project by indicating the potential recovery of what we can now confirm to be high quality light oil, in addition to good quality gas.