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Next week we will find out just how much gas is believed to be recoverable from West Newton and the chance of success. I would certainly think this is much higher than previously thought due to the successful lab tests on the core sample. When Rathlin stated 380,000 homes would benefit for years to come, it certainly gives an indication as the the size of this prospect. With planning agreed for a number of wells and now confirmation that the whole operation is about gas, not oil, the costs to production have been substantially reduced. However, it's more likely that a major will snap this up on successful flow on the first well. For how much though is the big question. For Union Jack it will be a massive result, £50,000,000? £75,000,000? More?

For all the agitators posting here on a daily basis, using every share price movement as an opportunity to spread negativity and uncertainty, any good news will speed up their departure. This BB experienced a totally new feel to it when the share price headed to the 50's, it was a pleasure to see real shareholders return and comment. It will happen again very soon, of that I remain confident.

With the CPR, the share buy back and/or dividend, the $10,000,000 revenue confirmation and the Biscathorpe planning hearing all due in the next three weeks, it is again a news rich period for shareholders and likely to be all positive. 50p will once again be breached and well exceeded imo.

as it is free flowing, not being pumped, with no water cut. Gas is also coming to surface with a substantial amount being burnt off every day. Egdon are working to get this sold off, it's not exactly a major or costly operation whatever route to market they take. It would add substantial revenues to Union Jacks already impressive income. The Gaffney Cline report was sadly misinterpreted by many, but it was intended for institutions/analysts and those who understand the oil sector. They DID understand it, shame the rest of the market didn't and reacted in the way it did. I think the company underestimated the effect this would have and fully expect them to provide a clearer representation of the West Newton CPR. Whilst the content must be presented precisely as it is written, I do believe investors need to see a layman's version too in order to avoid a repeat of the situation over the Gaffney Cline reserves report. That report basically confirmed an average of 800 bopd for the next 5 years. It was, I believe, based on a worse case scenario and we could see a massive difference to what was presented. In addition, the 2.4m barrels of additional reserves, along with gas revenues, were not included. So, for anyone concerned about revenues, this remains a multi-million pound revenue stream for the company, ensuring financial longevity, disputes any suggestion of future placings and allows UJO the potential to afford to develop all of ots remaining assets from cash in the bank.

West Newton is a major play with a minor cost as far as risk is concerned to Union Jack. The percentage owned is, in my opinion as good as it gets. The cost of the whole operation for the company will run to 2/3 million at most, just over 3 months production revenue from Wressle, Keddington and Fiskerton. Almost petty cash based on the yearly revenue stream!
If it resulted in a total failure, the loss is not exactly the end of the world, if it is successful, well, there's multi-millions to the company.
And will it be successful? Every chance in my opinion. They learnt a costly lesson with previous drilling. They now know where they went wrong and why it failed to flow commercially. They are now retrying with that knowledge, using a different technique and knowing that lab tests successfully flowed through the cores. The chances of success will be a lot higher with this knowledge and operational change. The news today stated enough gas for 380,000 homes for a long time. How long? Let's see what the CPR states next week. Personally I think we may be in for a big surprise!
Good luck to all the genuine shareholders who retain confidence in the long term prospects here, I believe it will all come good and my personal beliefs are not 'ramping' as suggested, they are based on the situation the company is in, the desire by management to make it a mid tier company and the position the company has managed to manoeuvre itself into over the past year.

*sorry, Funstar, the N and K are so close together.

*correction, Wressle will do 800bopd not West Newton as fukstar49 knew.

It's no surprise to see the tag team back here, always arrive when the SP drops then recede when it starts to recover. Traders and Activists taking their opportunities to do as much damage as they can. Its been going on for years, it's nothing new. They pounce on every RNS to drag any sentiment away, hammer it for a few days on here to make sure nothing positive is left in view, then all disappear until the next opportunity. It's expected and it's tedious, but UJO will take the prize ultimately.

quite honestly, that is the biggest piece of sh*te I have read today, and this bb has had plenty!

West Newton will do on average 800bopd restricted for the next 5 years, there is also an additinal 2.4 million barrels of oil in reserves.

There is the *****tone Flags, the Wingfield and the Santon Sands yet to be evaluated. Then there is the gas. Wressle will keep UJO in cash for many, many years to come and West Newton will never be a cost factor as it will almost certainly be sold to the highest bidder and neither can Reabold or Rathlin afford to progress to full scale production. You are simply trying to add fear, undertainty and negativity at a time when investors have seen a severe drop in value. In reality, this stock will recover on its cash, revenues and assets and it will do so over the next few months imo.

Attack the positive posters, (the genuine shareholders), then post as much drivel as possible to ensure anyone looking in just sees all the negative rubbish. So.....

Wouldn't want any positivity lost....23 Sep 2022 10:35

Remove all the negativity spouted by the usual bunch and you are left with a company that is bringing in $1,000,000 every month. A company that has over £10,000,000 in cash and receivables. A company that is about to do a share buyback and offer a dividend. A company that has a share in the biggest gas discover in 50 years, a company that holds a major interest in what is believed to be the biggest unappraised onshore UK hydrocarbon discovery and a company that has other assets that can be proven up at low cost. All costs for all drilling campaigns covered for the next year, NO PLACINGS perceived and West Newton, well, ignore the 2026 commercial production, this will no doubt he sold in 2023. Some fact, some supposition, but long term Union Jack is one of the most likely AIM stocks to succeed long term. The people on here who keep reappearing when the SP drops are traders and haters who's only argument is petty sniping at the management and genuine shareholders who can see further ahead than a week.

Next week we have what I believe will be an extremely impressive CPR which will show the substantial value of the hydrocarbons in the ground at West Newton. A CPR that a major or two will be scrutinising.

Union Jack has always suffered from attacks from activists and haters, yet compared to its peers, it is financially stable, revenue generating with excellent assets and remains one of the safest investments in this sector on AIM.

I think you will discover CaliforniaJ was Straightalker who appeared last week then disappeared again. Cant see any if his posts any more. I stated categorically when I joined this bb. All this 'he's ruby she's Aim Casino' carp is exactly that. Totally different post styles and quite obvious to anyone that actually wants to admit it.

Pboo, why do you have to tell lies to back up your lies?

Three years?

TheAimCasino: Member Since 19th Sep 2021

You are just a bitter and twisted, ex UKOG loser who disappears when things are good then reappears whenyou think you have an opportunity to spread your envy. I see you were also on Angus Energy today doing the same, another company that is starting to prove the likes of you wrong!

Itsawrap, perhaps you and your mates should take some responsibility for all the time over the years the long term holders have endured your non stop demoralising attacks on management, assets and more. Never ending negativity, every positive RNS attacked and devalued.

Day traders will be the only ones affected, they don't do long term. Hanging on to these shares will give a good payback. When you stick a few grand into a building society, you don't get your interest the next day!

Remove all the negativity spouted by the usual bunch and you are left with a company that is bringing in $1,000,000 every month. A company that has over £10,000,000 in cash and receivables. A company that is about to do a share buyback and offer a dividend. A company that has a share in the biggest gas discover in 50 years, a company that holds a major interest in what is believed to be the biggest unappraised onshore UK hydrocarbon discovery and a company that has other assets that can be proven up at low cost. All costs for all drilling campaigns covered for the next year, NO PLACINGS perceived and West Newton, well, ignore the 2026 commercial production, this will no doubt he sold in 2023. Some fact, some supposition, but long term Union Jack is one of the most likely AIM stocks to succeed long term. The people on here who keep reappearing when the SP drops are traders and haters who's only argument is petty sniping at the management and genuine shareholders who can see further ahead than a week.

Next week we have what I believe will be an extremely impressive CPR which will show the substantial value of the hydrocarbons in the ground at West Newton. A CPR that a major or two will be scrutinising.

Union Jack has always suffered from attacks from activists and haters, yet compared to its peers, it is financially stable, revenue generating with excellent assets and remains one of the safest investments in this sector on AIM.

You should get a medal for that one Persimmon lol! An award for the most stupid post of the year. Some of you should share it too. Lol, so ridiculous I really don't know how you have the balls to even post it. How old are you again Persimmon?

This is a long term investment for me Nofeckinggood, not a trade. Long term this share will be worth a lot of money. And as for being paid to post, that is absolute rubbish, I could say the same in reverse of Mirasol, Persimmon, RnsTranslator (now Olivia Oil), you and others who trash the company at every opportunity. I would have to admit to liking my outlook and myself a lot more than yours!

Yes Nofeckinggood, I am a disgrace for daring to be positive on my investment, to challenge the likes of you and others, to see past the end of my nose lol! Look forward to you joining the positive side now you are a shareholder, well, until you trade out and revert to your negativity again.

are being soaked up, wonder who's buying them at this bargain price?

I'm more inclined to think a mix of the two. The cash is there, makes more sense to reduce the shares in issue, pop them into treasury and let an institutional investor take them up, attracted in by the divi maybe? Either way, this is still an investment case for an institution based on the cash flow and dividend. And for anyone who doesn't understand the 'graph', there is a lot of oil and revenues due over the next decade, enough to keep placings away, reinvest in new assets and more. Need to look past todays RNS and towards the CPR and more.

and you are left with a company that is bringing in $1,000,000 every month. A company that has over £10,000,000 in cash and receivables. A company that is about to do a share buyback and offer a dividend. A company that has a share in the biggest gas discover in 50 years, a company that holds a major interest in what is believed to be the biggest unappraised onshore UK hydrocarbon discovery and a company that has other assets that can be proven up at low cost. All costs for all drilling campaigns covered for the next year, NO PLACINGS perceived and West Newton, well, ignore the 2026 commercial production, this will no doubt he sold in 2023. Some fact, some supposition, but long term Union Jack is one of the most likely AIM stocks to succeed long term. The people on here who keep reappearing when the SP drops are traders and haters who's only argument is petty sniping at the management and genuine shareholders who can see further ahead than a week.

Next week we have what I believe will be an extremely impressive CPR which will show the substantial value of the hydrocarbons in the ground at West Newton. A CPR that a major or two will be scrutinising.

Union Jack has always suffered from attacks from activists and haters, yet compared to its peers, it is financially stable, revenue generating with excellent assets and remains one of the safest investments in this sector on AIM.

the derampers pile in on any news and turn it completely negative, after completely disappearing when the SO was on the rise. It's an incredibly liquid stock and a lot of money is made by traders who use everything at their disposa to trash the company. Blaming positive, real shareholders, the CEO, you name it, twist it and trade it.

Todays news is excellent for anyone who understands and knows the way this will go.

The gas is likely recoverable using a different process. Lab tested and flowed.

The moment this flows, a major will take it on, there is no doubt in my mind on that issue. This is of national interest and little old UJO, Reabold and Rathlin will be in no position to develop it.

Don't forget, once this CPR is out of the way we can look forward to a share buy back and a divi too. At the present price, more shares can be bought, the SP will rise and the better the divi.

The company is still getting over a $1,000,000 in EVERY month, and with over £10,000,000 in cash and receivables, is in excellent shape.

So it's not all doom and gloom as some are trying to suggest!

Its not about when the gas will come online, its about the quantity and the recovery. As soon as side track proves it can be extracted, West Newton is sold to a major. No doubt who is/are already watching. The CPR next week will confirm the quantity, half way there.