Member Info for TheAimCasino

As it happens, I am still alive, just watching and waiting. Lost interest in commenting to be honest. Hello to Funstar whilst I am here 😂

Funstar, so you say. I am watching and waiting for things ro get better here, no need for me to change my avatar, I am always happy to post my thoughts as myself.

I can assure you he/her is not me and I am not him nor her. I remain watching whats happening but nothing worth commenting on. According to you Funstar, Heid is me, which makes me her and the other 🙄

Obviously wasn't UNION JACK pboo, so why harp on about it here? Oh yes, of course, you don't do positive I forgot.

Sounds like you should be telling the Europa BB your concerns then Pboo, this is the Union Jack BB and the RNS said barrels of oil per day.

2024 should see a major recovery in the value of Union Jack.

Keddington Drill in the new year, later than anticipated but on the cards. Potentially worth an additional 100+ bopd to the company.

Wressle stabilised at 750-900 bopd

West Newton drilled sometime between Jan/December

Additional well at Wressle

Biscathorpe drilled

Any additional deals implemented

I think 2023 is done for now, this week has been great for good news but not sure there's any more to come other than the expected flow rate update from Wressle. Saying that, there could be a few surprises lol.

There'sno doubt we do have a portfolio of good assets, they just need developing and it's a positive that the company doesn't have to raise any money for them.

BOPD - Barrels of Oil per day

Europa:

The W1 well at the Wressle oilfield (#EOG: 30% WI) has resumed production.

The jet pump and associated surface equipment is operating as expected, and, since production resumed, the W1 well has produced at gross rates of >950 bopd compared to c. 750 bopd prior to the jet pump.

Pboo, what i find interesting is that as you say, the gas was pushing the free flow hence the need for the flaring and the 10 ton limit. However, if it is now being pumped up, will there still he the level of gas needing to he flared as previously? It could be the oil flow can now be gradually ramped up without the same flaring restrictions. That would be a great outcome. I am interested in hearing about the water as this pump as I am sure I read on here recently can help reduce water extraction.

Bit of a muted response from the market to start, but plenty of time to get going. Back on track for the $1,000,000 a month with the potential increase in bopd. Hopefully the market will cotton on.

Normally after a shut in, there would be a pressure build up, but this is being pumped now so pressure I would think immaterial.

Extra 80 bopd to UJO then?

The announcement today of oil flowing again at Wressle. 950 barrels on clean up and no mention of any water. Great news for the JV partnership, could be seeing in excess of 1000 bopd when all cleaned up.

Persimmon, the auditors only just completed their audit and the company stated quite clearly it was their decision to end its relationship with BDO LLP for commercial reasons, not the auditors decision. Why you feel the need to cast doubt on things I have no idea. Well, I do 😂. Do you not realise also that when the company releases data in an RNS, it has to come from the operator, it has to go through three Nomads before all the partners can release it. Seriously you need to get a life.

And when has that ever worked Mr. plumper? The issue in most cases as operators are not only in allegiance with their jv partners, they also have their own projects and have to spread themselves around a bit. In UJO's case I do tend to feel surprised however that Egdon do not fully concentrate on the near term revenue generators and get the cash flowing in. Keddington, additional well at Wressle, immediately onto Biscathorpe when/if permission is granted and all the JV partners and themselves would be laughing all the way to the bank. When you actually examine the jv partners assets, they aren't really newr term and neither are they very inspiring. What DB has achieved is to build that cash safety net, placed the company on a sure footing with no placings which sets the company apart a bit.

Until the very minor water ingress, the well was producing 750+bopd. The introduction of the jet pump I believe will, along with the separator, allow the oil to continue at it's previous levels. There remains a substantial quantity of accessible oil in the Ashover grit so for now, and probably for a few years to come, the revenue will continue to pour in as previous. "the installation of a jet pump on the Wressle-1 well offers a reliable method of ensuring the continued operation and the optimisation of its future production performance"

What we need to see is a second sone drilled which according to recent RNS announcements. During the second half of last year, Egdon re-processed the 3D seismic data over the field to identify reservoir targets for drilling an additional well/wells stating they would do this "at the earliest opportunity, subject to receipt of regulatory approval' and that any new wells would likely be drilled from the existing Wressle wellsite. There are a humber of zones which will likely extend the life of Wressle for many, many years to come. Keddington has been producing for decades and still holds the opportunity to take it from 30-300 bopd so I see no issue with Union Jack ever disappointing shareholders or the market on revenues. What is disappointing is the speed of development, not only by Egdon, but by Rathlin too and I see no point in constantly laying the blame at DB's door. From what I have heard he is frustrated also at the way things have gone. The operator in all cases holds the responsibility for planning applications, operational updates, maintaining flow rates etc. Union jack invests in the licence, nothing else and sabre rattling between JV partners I very much doubt would change anything for the better. I hope now Egdon are under the umbrella of HEYCO, they will be the bigger company's cash cow in the UK and be provided the finance needed to express operations, this remains to be seen. Long term I think shareholders will see a return to 50p and beyond, I think logic dictates that much. Let's hope Biscathorpe comes in, let's hope Keddington is drilled and let's hope Rathlin, Reabold and UJO enjoy the commencement of drilling in early 2024.

Why would you think Wressle is knackered then Swampy? A drop of water was never an unexpected occurrence. the operator has simply brought forward a process of recovery that was planned. There's years and years if oil in the Ashover Grit and additional wells into additional zones will increase production and revenues for the JV partnership. The community fund are enjoying the £100k they get towards parks, football teams and all the other nice little things they can finance, the only objectors are people like you who don't even live anywhere near the site. Wressle is a prime example of a clean, well operated, safe well site which uses less concrete and acreage than a wind or solar farm but produces a more beneficial energy source. Sadly for you, oil is here to stay and the nations of the world who thought different are starting realise the error of their ways.

Hopefully good flow rates for both Beacon and Union Jack's Wressle well. Both companies turning a million dollars ish' would see great returns for Beacons shareholders and a potentially big return on Union Jack's investment. There's a strong similarity between the two, be good to see a further investment if their well flows successfully. Germany has a far less stringent process when it comes to getting permission to drill, maybe UJO could dip a toe in there under their plans to look further afield?

It's as easy as some may believe being a JV partner in all your assets and having to rely on your operator for your updates, timescales and operational progress. Union Jack is tied in with Egdon for a number of assets, Biscathorpe which awaits a planning decision one year after the appeal, not the operator or the partners fault. Wressle has been a fantastic cash cow, is presently being upgraded. UJO have little or no say on what is going on here on site and certainly no say as to how fast this is completed or what can be announced, or when. Obvious DB can't just update the markets, if that were possible, EOG would be dojng the same, they are not, so in same position as Union Jack, so frustrating as it is, everyone is reliant on Egdon. West Newton is a massive gas discovery, Rathlin has obviously been short of cash hence most of the delay in progressing it and recent planning approvals are again, down to the operator. I think people tend to forget that Union Jack is an investor into projects that they hope will generate revenue, they do not have any control over much else and anyone investing in this company should do their research and accept this is their modus operandi. Until the various operators pull their fingers out, this company remains static. When you look at all the other oilers/gas companies, they all appear to hitting all time lows but few have the ability to generate the revenue Union jack does and this is set to increase over the next 12 months all being well. If Beacon achieve their near term goal, the investment there could easily double/treble or more over the next few months. When Wressle comes back online, the price pf oil for the future looks to be in its favour. Hopefully Biscathorpe permission will be positive and soon and Keddington gets under way. All looks reasonably rosy for the future regardless of having to wait patiently for news. All imo of course

Most of the people on here losing their grip gwyn are not even shareholders 😂 Seems to me, there's a lot more work going on than just a downhole pump installation. Why don't the JV update shareholders? I don't know but maybe it's a case as soon as there's something to report we will get a RNS. Hardly going to update the market on a leaky joint or a washer on back order etc.