Member Info for TheAimCasino

the most ridiculous compilation of tripe I have ever read. There is an agenda in place to constantly attack the company and its Chief Executive Chairman. Many of the culprits are quite obviously protestors who having failed to stop every producing oil/gas asset from going ahead and failed, are now trying to disparage UJO. People claiming DB is 'hiding' are purely utilising a situation to their own benefit. There are obviously reasons for the present silence.

Time has come for an EGM to be called to remove this "periea" from his comfy seat

Spelling seems to be a serious affliction with these people lol. Similar traits?

*not* departing empty lol :)

out in force. Wressle is a super well and one that is pumping in excess of 500 bopd. Tankers are seen arriving and leaving on a daily basis, they are departing empty. Union Jack are receiving substantial revenues from their share of this whatever a few may like to suggest to the negative. The well free-flowed 100+bopd prior to the proppant squeeze and it has been confirmed that post the squeeze, 884 barrels were recorded and gas boepd of 90 barrels. Clean up and upgrades will need to be completed prior to an update to ensure a stable flow is enabled. But it's pretty likely the lowest expectation of 500 barrels a day will be well exceeded. All the negative posting in the world will not change this, but there are a number of posters on here who have agendas and even when the facts are put on the table, will continue to try and disrupt and demoralise investors. These people have financial agendas and green agendas.

I see the usual dross forthcoming this evening, post after negative post of drivel ensuring positive points are list in the ether.
However, nothing can take away the fact that Wressle is a profit making producer which is producing multiple barrels of oil every day even whilst on restricted choke and clean up.

Upgrades to the site are underway to cater for the increased production, I am extremely confident that the initial hopes and estimations of 500 bopd are going to be more like 650-750 a day.

This is a company maker regardless of what some on here would like to contend. At my lowest calculation of 600 bopd, this would return an annual gross revenue of $7,000,000 to Union Jack based on $80 a barrel. We are already aware of a considerable cash return in the very early stages of post proppant squeeze and the well has already proven itself over the year as a 100 bopd free flowing well. The company is no longer an AIM gamble, it has the solidity of profitability. It will not now be a difficult task to increase revenues with present assets available to drill, some with planning already agreed. The corner has been turned and a few closet swampies posting on here don't like it!

right now, what with the placing leak, the placing itself, the West Newton news etc. However, Union Jack are in a far better position moving forward than that of Egdon and Reabold. The only licences the company own are either producing, can be reasonably easily and cost effectively have that production increased or can be drilled with likely positive outcomes. No shale licences, no debt. Cash in the bank and revenues coning in likely to be in the region of more than $500k every month. Patience is a word that has been used many times with most AIM listed companies, but I think things will pan out nicely now with good assets, a good financial status and the options there to turn this into a very cash rich company.

that for every positive post, there are a dozen negative that push it back down, the same people each time. So to suggest there are paid rampers on here is a bit droll. Paid derampers highly likely!

"So I am mentally challenged for posting FACTS , so what are the posters that make up figures called then?"

If the cap fits, I mentioned only one name lol

mentally challenged people posting on here lol! Roy is obviously the leader. Please look up libel and slander when you have learned to spell DB's name correctly. Why does DB continue to put money into WN? I would imagine he is contractually obliged to. Whatever the outcome, the fact is Union Jack is an explorer/investor etc and there's no doubt this is a major discovery and the geology said as much. As with any prospect, the commercial extraction is the final stage and even with all the positive operational effort, this cannot always be accomplished. It is certainly no fault of the board if this turns out to be the case. Major companies have drilled wells only to have to fill them in at completion. We are lucky that to date, every other investment would appear to have a degree of success attached to them and the company would appear to be about to declare a profitable status. On a personal note, anyone with half a brain or more can see exactly what is happening here with the number of negative comments of abuse and attempts to demolish any positivity.

Think you may have misunderstood, I was referring to recent placing. I see no further need for a fund raise in the near term or even longer term.

and keep on going on about why do a placing when there is cash coming in from Wressle, an early monthly revenue stream does not ensure the financial security of the company to continue its operations. The Wressle well is on clean up, there are upgrades to do which will have a cost. Meanwhile, there would have been cash calls at West Newton, there is the Calmar payment and other costs that nibble away at the bank balance. DB stated earlier this year that the company was fully funded for present operations, NOT fo all costs coming in on other projects. Why do people think the company is listed on AIM? Does anyone think creditors would be happy to be part paid every month on hoped for revenue from Wressle? The great thing is now is that it looks like Wressle has been a massive success for the company that is going to generate potentially £5,000,000 or more and will dramatically change the outlook here. The future for Union Jack is pretty much nailed on and if they can increase these revenues with Keddington, additional wells at Wressle, potentially North Kelsey etc, the company could morph into a substantially sized cash cow with Biscathorpe still to be developed. Persimmon, RNSTranslator, Mirasol and all the others constantly attempting to turn every positive post into a negative are doing so for their own agendas, not to provide advice to other people out of the goodness of their hearts. Who spends every day including weekends and evenings constantly providing 'assistance' to investors in a stock they do not own and would not purchase?

Union Jack Oil are receiving the revenues from approximately 250-300 bopd from Wressle, 10-15 bopd from Keddington and half a dozen a day from Fiskerton. They are receiving interest on the loan of one million pounds to Egdon and whatever is being returned from the royalties. I know who I would prefer as the safest long term investment and the one most likely to prosper.

of supposed shareholders talking down their supposed investment. Awful lot of people on this board proclaiming to be holding, yet trashing the company with dozens of negative posts every day. They prefer not to mention Wressle, the asset coining in almost half a million dollars a week or the other two producing assets. Oh no, all the effort is made to ensure any positivity is driven down out of site. West Newton is a 16.66% investment, if it does come in, in any form, it's a winner. If it doesnt, it's hardly the end of the world for UJO, unlike the partners who have no cash coming in whatsoever. Anyone who bought into West Newton through Union Jack has every likelihood of seeing their investment give good returns with a little patience and faith in the management to increase profitability from their other revenue generating assets.

Fatearther, do you post on ADV FN?

Have you asked yourself how come this news wasn't leaked? Maybe because the board ARE tight and the people who take the call to be instructed on a placing sounding may be the issue?

Yeah, perhaps David Lenigas would step in, what with his experience with the Gatwick Gusher lol! Are you aware Fatearther that West Newton was an investment based of the geology and the chances if success. 'davie' has called Wressle, Keddington and Fiskerton spot on as revenue generating investments, West Newton isn't over!

Based on the likelihood of news flow from Wressle, West Newton and Biscathorpe over the next 12 months we maintain our Buy recommendation, revising our target price from 83p to 67p based on our NAV, and acknowledging that we may initially see downside for the shares today.

We were hoping that this initial flow testing programme would establish commercial rates from at least one of B-1Z or A-2. The reservoir has turned out to be more complicated, with the requirement now for further analysis and potentially a follow- on flow testing programme. There remains plenty of scope for commercial flow rates to still be achieved, however, and a new a well stimulation on either or both wells could potentially be brought forward in around six months. We expect West Newton and any work programmes related to this to remain an important focus for the market, though potentially increasingly alongside Union Jack’s other assets.
The JV’s further analysis, and, we would expect, further flow testing will also be required in order to define whether West Newton is oil or gas, which this recent programme has not been able to. Alongside flow rates, this is also important for any eventual development.
The resource update also reduces the eventual value potential of West Newton in particular, though if the outlying prospects are eventually pursued this could help make up for it. Though substantial potential remains across Union Jack’s West Newton acreage, we expect the market to take all this news negatively today overall. Nevertheless, we would point out that the shares have already seen downside on the back of the initial West Newton flow testing results, so some of this news is likely to already be in the price.
We have left our forecasts unchanged, but update our model based on these flow test results and the new West Newton resource numbers. This sees our total risked NAV move from 83p to 67p. We do not currently include anything in our NAV for the Ellerby, Spring Hill and Withernsea prospects outlying West Newton.
Conclusion: Union Jack holds a portfolio of onshore UK assets, with work programmes steadily being progressed across these. The company’s West Newton project (16.7%) recently concluded a new drilling and flow testing programme, with analysis now ongoing aimed at designing a well stimulation programme. West Newton resource potential remains significant, and if the asset can be proved up and progressed as envisaged, it would represent a material new development project for onshore UK. More widely, Union Jack is progressing ongoing development activity at its producing Wressle field, where recent well stimulation activity has significantly increased flow rates, helping establish this as an important new producing asset for the company. Union Jack is pursuing the drilling of a side- track from its Biscathorpe-2 well originally drilled in 2019, potentially providing further news flow. The company also continues to make acquisitions, typically larger stakes in existing assets, and there could be more to come here at some stage. Union Jack is currently funded from its end June 2021 cash holding of £4.7m (zero debt) plus the recent £3m placing.

Union Jack Oil#
West Newton A-2 flow test and resource update
Union Jack has released an update on its West Newton A-2 well flow testing activities, alongside an update on resources in its existing West Newton discoveries and nearby prospects.
The A-2 well is reported as having recovered light oil/condensate to surface and also recovered and incinerated gas at surface. A-2 did not, however, achieve commercial flow rates, for either liquids or gas. This is broadly similar to the recently reported B-1Z flow test, also on West Newton. Positively, Union Jack emphasises that the flow testing results from both the A-2 and B-1Z wells confirm West Newton as a discovery.
Going forward, the JV will now take the substantial new data garnered from the flow testing programme and look to design a well stimulation programme in order to attempt to establish commercial flow from West Newton. There should be numerous options available here, including potentially a proppant squeeze, we would expect. Additional clearances are likely to be required for any new well stimulation activity, and given this, alongside the initial analysis that needs to be done, we would not expect further West Newton flow testing activity until mid-H1 2022.
Alongside the A-2 result, Union Jack has provided a West Newton resource update. For the West Newton discovery, best estimate OIP moves to 113.6mmbbl gross (from 146.4mmbbl previously) and GIP to 50.6bcf gross (from 211.5bcf previously). The outlying Ellerby, Spring Hill and Withernsea prospects are ascribed best estimate gross OIP of 115.3mmbbl, 80.9mmbbl and 102.5mmbbl respectively, and GIP of 51.3bcf, 36.0bcf and 45.6bcf respectively.
13 October 2021 UK Equities / FTSE AIM All-Share
Sector: Oil & Gas Producers
Buy
Target Price: 67p (from 83p)
UJO.L Current Price: 19.7p

a disappointment, of that there is no doubt. But I am thankful the company have been very prudent in only taking a small percentage of the prospect even though I am sure there was an opportunity to increase this. None of the drilled wells are dusters. They have all showed substantial hydrocarbons, enough to declare the licence area as a massive discovery. Getting oil/gas to surface on commercial levels is now the next task. They must believe this is possible to have continued to drill since the A1 well. Of all the JV partners, Union Jack have the least cost, have had the least expenditure and have the best assets to continue developing whilst the operator at West Newton continue. They did not apply for a further 6 wells either if they had contemplated failure.