Member Info for RNSTranslator

In the digital economy, you get paid for performance.
Heid gets paid for each post with a relevant positive unpublished fact about UJO, but nothing for repeating RNS info and the Cut and paste stuff from online about oil price.
Confidentially, I’ve been told over the last year shes earned nearly £7.

Not sure what you’re posting Heid, but expect it’s more tosh…
I can’t hear you!

It’s not expensive.
OEUK is expensive.
If you were a minister would you listen to companies producing millions boe day and a supply chain that employs 100’s of Thousands ( and includes the operator of Wytch farm producing 90% of UK onshore production) or a bunch of small caps, you’ve already stopped from fracking and produce just short of fck all?

“ UJO do have membership of the lobbyist group Uk Oil and Gas. ”
Nope they don’t.
They are members of UKOOG, UK onshore oil and gas.
Which consists of a small number of small cap onshore players (no obvious membership list - unsurprisingly) responsible for hardly more than 15k boe per day (Most of which is from Wytch Farm operated by Perenco - members of OEUK below)

The real trade body for the oil and gas industry is Offshore Energies UK. (Millions of boe per day) Until very recently they were called Oil and Gas UK, that’s where the Government interacts with the industry. All the major producers as well as the main contractors are members. They do provide a list of members, and other than trying to distance themselves from oil and gas by changing their name (utterly bonkers for an oil and gas trade body!) they do actually get invited in to speak with Ministers.

“RNSTranslator is off again with his negative spin ”
If you actually read it Heid, it’s not negative - clown
Less pressure depletion means a higher recovery factor, as I put.
If you don’t understand stop commenting ..

Ziq
Absolutely right. They will have tested pressure response to short term shut ins/choke sizes to see how extensive the pressure response is.
Having produced more than 30% of the official reserves from the Ashover and if the pressure decline is not measurable, that suggests a significant change in the recovery factor, as I’ve said many times.
Until we get that GC report, it’s just folks speculating.
Quite why it’s taking so long is the main concern.

Shareholders will approve the creation of distributable reserves by cancelling the share premium account.
The HC can’t approve anything unless shareholders have approved and they’ve demonstrated no impact on creditors (not that there are many/any). Logically it’s shareholders then HC.
This is the mechanism to buy back shares or pay a dividend not distribution of profits at this stage.
Profits for distribution are only available after tax is paid, and I’m sure they’re getting advice on how best to deal with the current 65% tax through reinvestment relief until it falls away in late 25. Can’t see a regular divi myself given the tax leakage, more likely on one off and a buy back or just a buy back.

“ no drop in pressure”
I don’t recall ever seeing that mentioned in any RNS or presentation , where did you get that information?

Of course what everyone may have forgotten is that there is £500k payable on Bisc planning approval and a Net profits interest (NPI) payable on a proportion of their Wressle production.
If I recall correctly (happy to be corrected)

Itsawrap is correct.
Early on the net amount flowing to the cash and receivables was in the £300-500k per $1mm Wressle plus other revenue RNS. More recently this number has increased such that cash outgoings have fallen.
We don’t get to see short term obligations and cash commitments, (just receivables) so we cannot get a full picture of the cashflow situation. But it does suggest expenditure has fallen recently.

May 2021 “ Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that Gaffney, Cline & Associates Limited, an international energy consultancy, has been appointed to prepare a Competent Person's Report ("CPR") in respect of PEDL183 which include the West Newton discoveries at the WNA-1, WNA-2 and WNB-1Z wells”

Today RBD said” Completion of a Competent Persons Report ("CPR") by RPS Group in Q3 2022”

UJO decided to omit the reference to RPS doing the CPR in their RNS.
Wonder why?

It’s a conceptual plan.
Nobody will buy WN until they’ve demonstrated commercial flow. At that point it’s has a sales value.
Doesn’t matter what the CPR says no flow no go.

Of course everyone assumes it’s a 100% cash offer.
That’s not ever been suggested by the company as far as I’m aware.
Given the nature of the asset, I wouldn’t be surprised to see either Upfront cash and a kicker on first gas or project sanction or both.
Depending on the buyer, it could be a mixture of cash and shares.
All we know is, it’s credible and acceptable…

They’re not looking to farm victory out, that’s just nonsense.

What they have is a “ Conditional, non-binding offer for Corallian” their words not mine.
Clearly what they needed to do was clear out the non Victory stuff so they could sell the company not an asset in the company - sensible from a shareholders perspective.

We don’t know what the other conditional elements are if any.
It’s non binding, which means it’s not a contractual obligation to buy.
There’s a long stop date, which can be moved with mutual consent if needed.
Anything more than this is just speculation.

I seen and watched the neighbours cat..

“ Because I can see him.”
Does that make him clever than me, or even cleverer?
I can see the neighbours cat, does that make it clever than you??

How do you know ?
Or are you speculating (again)
;-)

;-)

I own far more than you sunshine…

psst
/p(?)st/
exclamation
used to attract someone's attention surreptitiously.