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Justbe, re reducing the water https://www.bakerhughes.com/production/water-conformance/aquacut-plus-relative-permeability-modifier

The half yearly report should be bery positive based on the revenue streams. The market usually recognises positive results so I would expect positive reaction. The interview today with Will Holland explained the pump very well, yesterdays reaction was pretty ridiculous imo. We knew there was a water cut, the operator for once is thinking ahead. We could see an increase in oil production too.

My analysis 😂😂😂😂😂

Was not only misinterpreted by the market, it was used by the usual culprits, the 'non-shareholders' and traders to express their negativity as expected. Of course, all the analysts who were expressing the positive aspect here were totally wrong and the experts on here know far more, have done way more research and their technical expertise completely obliterated the actual facts.

Here is an interesting read for those who have no real understanding of the way a down hole jet pump works and why the JV partners have expressed the operation.

The expectation when the Wressle-1 well is brought back online is an increase in the recent production levels from a reservoir that still has a substantial quantity of oil to extract.

The following article is based on this equipment being utilised on a mature wells. Wressle is far from mature and I would expect the results to be very pleasing.

https://jpt.spe.org/twa/jet-pumps-an-efficient-technology-for-production-enhancement-of-mature-oil-fields

NOTE: Low cost, low maintenance, for the benefit of Persimmon, no corrosion, no wear.

Easy to say but just where would you invest that shareholders would support. There’s nothing left in the UK imo. Throw cash into another country? These are torrid times internationally and we are much better waiting to develop our own assets which are good and safe.

Don't know if anyone is aware, but DB cannot release any information on Keddington, West Newton, Wressle or anything else unless the operator agrees. On that basis, if there was any possible update, then Rathlin and Egdon would be saying so. They aren't, so there is nothing DB can say even if he wanted to. At the end of the day, he wants to see the SP at its best as do the rest of us. I am happy with the fact we are financially secure, turning a revenue and profitable with no likelihood of any placings. Wressle water is hardly the end of the world when there are multiple zones to target and once the Heyco deal is completed I feel sure they will want to see their assets producing to their full potential. If Biscathorpe comes in, we are financed, they will be too and there's a potentially game changing asset there waiting to be drilled. I have said previously, for me. It's the near term cash and West Newton seems to be getting further away, we are however saving cash monthly whilst it is delayed. I believe it's the riskiest and most costly of our assets, so if it takes a few years even and in the meantime we can get Wressle, Keddington and Biscathorpe away, we are talking a lot of cash. And cash IS king in this industry now and for the foreseeable future. I believe DB is taking the company, for now, in the safest and best direction he can.

Jack, are you discounting any future for the remaining zones that still remain to be tapped into? Take Keddington as an example, three decades of production, a side track potentially offering a ten fold increase on it's present bopd. You remind me very much of RNSTtranslator, are you in the oil business or the financials as your posts lean more towards numbers than engineering?

Every cloud and all that, had we been utilising the gas two years ago, the oil flow would have been far greater and the water cut a lot sooner. The fact we have had a number of years prior to this event, I would suggest a lot more data has been gathered by ERCE. The water isn's as great an issue as one or two have suggested, it was an expectation, it was beyond the expected time and there are many other zones to target. Wressle isn't a 12 month wonder, this is a multiple decade cash cow for UJO.

Y'ou have no forward vision Pboo. Underwater ot not, we will inlikely ever see ourselves in a position like long term UKOG, Angs or RBD amongst others. This will ultimately recover, the others probably will not.

Not sure what your reply has to do with my long term outlook Pboo, all I am saying is that when you look at UJO's peer companies, this company is most likely to survive and prosper.

To say, of many AIM listed UK oilers/gas companies, Union Jack remains the safest as a longer term investment. Unlike ANGS who are dogged by a large seller and awful investment factors, EOG with an unstable and unsure asset base in the Irish sea, Reabold with their broke JV partner Rathlin and their inability to drill the biggest gas discovery in over 50 years, UKOG with all their problems, it's a no brainer where a level of safety remains. Nobody here is expecting news of a placing, the asset base is pretty good in comparison, the revenues are impressive as is the cash balance. .Should the bottom fall out of the industry, Union jack have the finance in place to diversify. So as hard as we are being treated by the markets, our long term outlook, to me, seems pretty good. As with any AIM stock, it is all high risk and hopefully high reward. The only difference here is the risk has been well mitigated by the stage DB has brought the company to. It would be more than fair to say Wressle has substantially more to give, that asset alone can keep the company in profit for decades. Keddington will. If drilled successfully ad to existing revenues and Biscathorpe will be an absolute game changer if permission is granted.

I am 54, I didn't invest here to trade it, it is for me something that I feel confident will provide an excellent return, in the meantime, with all the ups and downs in the sector and our own asset development speed, of course people will trade it and they are.

If your free flowing well that has brought the company to profitability and ensures no fear of placings suddenly goes from no water cut to having one, it would be common sense to stop spending whilst the situation is examined in depth. They are awaiting ERCE CPR which will now have to be revised. DB is, in my opinion playing this safe for shareholders at this stage.

Mickybee, why not suggest what news the company could update with instead of just saying they should?

Biscathorpe awaits planning decision, West Newton JV partners financially unable to proceed, waiting on operator to start Keddington, Wressle has small water cut, the company has amassed just over £10m, they aren't doing any buy backs, prob due to water cut and playing safe with the cash as Wressle is the main revenue provider, what sort of update could actually be provided that would make any difference to the SP? O'Farrel recently bought £100k at 30p to show confidence and now nearer 20p. This is all market based imo and nothing but new news will move the share price, not a 'known news' update.

Look forward to hearing the responses 😀

If you for example said 4% water, that's 28 barrels per day on 700 bopd. Some of that water I am led to believe could be emulsified, which means the separator would break that down removing the oil mix from the water. Even if it were only 8 barrels recovered in the separation process, water would only need to be taken from site every 10 days. The cost is certainly not anywhere near the £3000 per load quoted on here recently. However, perhaps Heidi could ask Mark to confirm this 😉

And the planning office have fobbed you off for months yet you still believe them 😂

What I think is laughable is thatMark Abbot has been good enough to communicate with you and you post his personal messages up. Are you a shareholder in Egdon waiting for your pay out?

Just because Mark Abbot is daft enough to converse with you doesn't make him a better person. The way you post up all your personal conversations is laughable. Reading your last few comments. You are no better than Pboo, Jack Diamond and the rest of the anti-DB fanatics. Looks like you're doing the same as you did to Sanderson. Not a nice person.

If that were true, then the company would be getting a bargain and we would see far less shares in issue for a lot less cost which long term is to the benefit of us all. I look long term. Oh, no I don't, I forgot, I don't have any shares 😂

Surely if the company said they were not in a closed period people would sell as they would know nothing was going on. As it stands only you seem to want to know 😂