Company
Union Jack Oil PLC
LON:UJO
Union Jack Oil PLC is an oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the United Kingdom and the United States of America hydrocarbon sector.
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Today's Oil and Gas Update: Union Jack Oil, Europa Oil & Gas, Touchstone Exploration, and more...
Market Update: 24 April 2023LON:UJO* - Positive operational updateLON:EDR - Wressle lifts production guidanceLON:EOG - Wressle tops 1H23 resultsLON:TXP - Royston testing updateLON:HUR - Prax confirms termsVår Energi (FRA: J4V) - Solid 1Q re
Malcy's Blog - Oil price, Union Jack, IOG, Touchstone, Egdon. And finally…
WTI (Mar) $73.79 -$2.49, Brent (Apr) $79.94 -$2.23, Diff -$6.55 +26c.USNG (Mar) $2.41 -4c, UKNG (Mar) 147.0p +2.0p, TTF (Mar) €57.285 +€0.79.Oil priceOil was having a good day on Friday until the jobs numbers blew the market away. +517/- be
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Malcy's Blog - Oil price, Union Jack, UOG, IGas, PetroTal. And finally…
WTI (Feb) $76.93 -$3.33, Brent (Feb) $82.10 -$3.81, Diff -$5.17 -48c. USNG (Feb) $3.98 -0.05c, UKNG (Feb) 165.93p -21.07p, TTF (Feb) €68.81 – €6.19.Oil priceThe oil price fell, some commentators think that post Covid lock downs their econom
Union Jack Oil sees revenue reach US$11mln marker at Wressle
"We have high expectations that this strong performance will continue for the foreseeable future," executive chair David Bramhill said
Union Jack Oil hails progress at Wressle
"We now have a clear focus on our forward strategy at Wressle to implement, as a priority, the monetisation of its gas reserves," said executive chairman David Bramhill
Union Jack Oil confirms dividend and share buy-back programme
The company's executive chair David Bramhill said: "These distributions are an important means of returning value to shareholders and signal the significant progress that Union Jack has achieved during the past year"
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Oil price, IOG, Trinity, Europa. And finally…
WTI (Nov) $82.82 -$2.64, Brent (Dec) $90.03 -$1.59, Diff -$7.21 +$1.05.USNG (Nov) $5.74 -25c, UKNG (Nov) 196.47p -22.08p, TTF (Nov) €117.675 -€4.32.Oil priceOil fell sharply as worries swirled around about the missing GDP stats at the Commu
Europa Oil & Gas repays Union Jack loan
The two partners in Wressle continue to benefit from favourable cash flows from the field
Union Jack Oil net Wressle revenues pass US$10mln marker
"The Wressle development continues to bolster the company's balance sheet,” said executive chair David Bramhill
Union Jack Oil & Gas cheers “highly valuable” gas project in Yorkshire
“Such a significant domestic onshore gas resource as West Newton will be an important transition fuel in helping the UK achieve its 2050 Net Zero targets.”
Union Jack Oil says consultant points to significant extra resource potential at Wressle
Union Jack executive chair David Bramhill said the report by GaffneyCline has "gone a long way" to answering questions over Wressle's future potential and prolonged productivity
Union Jack Oil welcomes news of the lifting of the moratorium on hydraulic fracturing in the UK onshore sector
The company said: "The directors highlight that the lifting of the moratorium is expected to positively change both the technical and commercial dynamics in respect of certain of Union Jack's licence interests going forward"
Union Jack Oil reports interims showing financial transformation
"The future of Union Jack remains bright," said Union Jack executive chair David Bramhill
Union Jack Oil says Wressle onshore operation has now generated US$9mln in net revenues
One of the country's larger onshore discoveries of recent years, the operation is on the western margin of the Humber Basin
Union Jack Oil says appeal made against North Kelsey planning permission decision
Union Jack holds a 50% economic interest in licence PEDL241, which holds the North Kelsey prospect.
Union Jack Oil celebrates latest revenue milestone as Wressle continues ‘impressive’ form
"Another impressive production performance from the Wressle-1 well has been recorded and the trend remains positive," executive chair David Bramhill said
Union Jack Oil hails West Newton development plan
"Based on the NPV estimate, this amounts to US$75mln net to Union Jack for its 16.7% equity interest"
Union Jack Oil reaches US$7mln revenue at Wressle hydrocarbon development
The UK-based onshore hydrocarbon producer and explorer holds a 40% economic interest in Wressle
Union Jack boosted as Wressle field development plan gets green light from NSTA
The approval was described as "another significant and important milestone" for Wressle
Union Jack Oil cheers US$6mln Wressle revenue milestone
"Another period of stellar performance from the Wressle-1 development has been achieved,” said executive chair David Bramhill
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Malcy's Blog - Oil price, DEC, Union Jack. And finally…
WTI $110.49 +$4.36, Brent $111.55 +$4.10, Diff -$1.06 -26c, NG $7.66 -8c, UKNG 178.5p -11.5pOil priceOil was mixed last week, the big rise on Friday left WTI up 72 cents but Brent was down 84c over the period.A number of EU countries are al
Union Jack Oil’s confidence is high as it confirms strong revenue performance from Wressle
"I remain confident that future news arising from our well-balanced portfolio containing relevant components of production, development, appraisal and exploration will continue to vindicate the board's unflinching optimism," said chair Davi
Union Jack Oil expects even higher rates at Wressle as gas plans are unveiled
"Wressle has been nothing short of a spectacular success," said chairman David Bramhill
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Malcy's Blog - Oil Price, Union Jack, Deltic. And finally...
Oil price, Union Jack, Deltic. And finally…WTI $102.07 -$1.72, Brent $106.65 -$1.68, Diff -$4.58 -4c, NG $6.53 -43c, UKNG 171.41p -28.59pOil priceOil remains under pressure as do world markets with last week WTI falling $4.88 and Brent $5.0
Union Jack Oil says it is on material growth trajectory
The revenues from the Wressle development continue to highlight the sea change in the financial robustness of Union Jack," David Bramhill said.
Union Jack and Egdon Resources appeal Biscathorpe planning decision
Biscathorpe lies within licence PEDL253 and is located in the South Humber Basin
Union Jack Oil expands scope of Wressle CPR
"Wressle continues to outperform over and above original prognosis and expectations,” said chairman David Bramhill
Union Jack Oil sees revenue boost from Wressle
Operational and capex costs are covered for the foreseeable future
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Malcy's Blog - Oil price, Union Jack/Reabold, SDX. And finally…
Oil price, Union Jack/Reabold, SDX. And finally…WTI $102.98 +$7.94, Brent $106.64 +$8.62, Diff -$3.66 +98c, NG $4.99 +24c, UKNG 256.2p +2.3pOil priceA sharp rise in crude yesterday as there were admittedly vague stories of China giving supp
FIVE at FIVE: Banner days for Union Jack, sinking feeling at P&O, Go-Ahead gets off lightly, BoE surprises no one and Netflix not chilled about shared passwords
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Union Jack higher as expansion of West Newton site approved
An extension has been granted to allow further exploratory drilling at the West Newton B site
Union Jack Oil proposes capital reorganisation to enable future dividends or buybacks
It comes as the company sees “an excellent current performance" at the Wressle field.
Union Jack Oil books US$3mln of revenue from Wressle field
Current daily production ranges from 600 to in excess of 700 barrels of oil per day
Union Jack Oil says Biscathorpe partners to appeal for planning permission
An appeal is planned to be submitted later in the current quarter.
Union Jack Oil and Europa boosted as ERCE says much higher rates are possible at Wressle
Production rates at Wressle could double if facilities can be changed, according to ERCE.
Union Jack Oil encouraged as RPS models potential flows at West Newton
"We are encouraged by the RPS review which continues to underline West Newton's potential as a material hydrocarbon producer,” said David Bramhill.
Union Jack Oil passes US$2mln revenue marker at Wressle field
"We believe that Wressle holds considerable further upside which will be demonstrated over the foreseeable future," said chairman David Bramhill
Union Jack Oil says latest update reveals 'tangible confirmation of progress'
The highlight of the statement was the performance of the Wressle onshore well, which is performing well ahead of expectations in spite of flowing under a highly restricted choke
Union Jack Oil and partners to make new planning application for Yorkshire well site
It is expected that a new planning application, for a smaller site, will be submitted before the end of 2021
Union Jack Oil still a ‘strong buy’ despite planning setbacks - stockbroker
“The impressive performance at the company’s Wressle project is yielding material cash flows to the business enabling Union Jack to capture the current elevated oil price environment.”
Union Jack Oil says Wressle field generates 'transformational' £1mln in revenues
Wressle's expectation-beating performance amid strong oil pricing is financially transformational for Union Jack, the company highlighted
Union Jack Oil says analysis has confirmed substantial conventional discoveries at West Newton sites
Data gathered through testing has led to new estimates for the project' in-place resources, with some 113mln barrels and 50.6bn cubic feet of gas indicated.
Union Jack Oil hits planning obstacle at West Newton A
It is one of two well sites connected to the West Newton.
Union Jack Oil raises £3mln to upgrade Wressle field in Lincolnshire
The funding was launched after the recent excellent performance at Wressle, which has yields volumes of 950 barrels per day versus expectations for around 500 bpd
Union Jack Oil says Wressle production exceeds market expectations
Wressle is currently the second-largest producing oilfield in the UK, in terms of daily production
Union Jack Oil considering an equity raise to expand growth plans
New investments could further boost Union Jack's cash flows
Union Jack Oil’s Bramhill buoyed by progress at key projects
“If Wressle is only half as good as we anticipate, then we will be hearing much more about this development for many years to come,” David Brahmill said
Union Jack Oil is a ‘strong buy’ as West Newton testing continues - SP Angel
A surmountable issue aside SP Angel analyst says there are substantial hydrocarbons in place at West Newton, as it repeated a 'strong buy'.
Union Jack Oil sees significant hydrocarbon column as West Newton tests continue
"We are highly encouraged by these initial results from an ongoing multi-well appraisal testing and drilling campaign at West Newton," executive chairman David Bramhill said
Union Jack Oil is a ‘strong buy’ as Wressle field production hits target - SP Angel
“Wressle will boost the company’s production profile and cash flow position once on commercial production, and today’s update reinforces the long-term potential in our view,” analyst Sam Wahab said
Union Jack Oil and Europa boosted as Wressle field hits target rate
"Wressle is still at a very early stage in its development and considerable upside potential remains," David Bramhill said
Union Jack Oil encouraged by early results of West Newton B-1Z testing
Clean-up and testing continues at the the West Newton B-1Z well in Yorkshire
Union Jack Oil’s Biscathorpe project receives positive carbon intensity study
"This study is an excellent overview of the green credentials for any potential future development decision at Biscathorpe,” said executive chairman David Bramhill.
Union Jack Oil eyes production target at Wressle after key approval
At Wressle the team now have full use of a 2,000 barrel storage facility
Union Jack Oil counts down to West Newton B-1Z well testing
"The planned testing programmes at the West Newton B and A sites are the next milestone events in determining the development potential of West Newton,” said David Bramhill
Union Jack Oil gets greenlight for programme to optimise production at Wressle
The planned programme is due to have a dramatic effect on the company's cash-generating capabilities
Union Jack Oil offers compelling value opportunity - broker
Stockbroker SP Angel highlighted several near-term valuation catalysts for Union Jack Oil.
Union Jack Oil says future is bright as it looks forward to West Newton testing
"The company remains in sound financial health," said executive chairman David Bramhill
Union Jack Oil hires Gaffney, Cline & Associates for West Newton CPR
A testing programme is due to get underway at West Newton this month
Union Jack Oil has potential to transition into a self-sustaining mid-tier producer, says broker
The short to medium term focus will be on maturing this asset further to commercialisation, analysts said
Union Jack Oil looks forward to testing as West Newton B-1Z well advances
Results from the well to date are described as "highly encouraging" and the next phase of work begins in May.
Union Jack Oil expects evaluation of WNB-1Z well to start April
April's work will precede an extended well test which and inform a new competent persons report.
Union Jack Oil’s partner launched online public consultation for West Newton project
It comes as the partners are advancing the project towards a formal planning application.
Union Jack Oil building cashflow in the UK
The core of the portfolio is in the East Midlands Basin and Yorkshire
Union Jack Oil acquires royalty over producing North Sea field complex
Union Jack Oil is buying the royalty from Cambridge Petroleum Royalties for US$130,000 using its cash resources.
Union Jack Oil seals increase in Biscathorpe ownership
It comes ahead of a planned well programme later this year, subject to planning approval.
Union Jack Oil says Wressle field is now producing, under test conditions
The start of production at Wressle is a long-awaited milestone for the company as it will significantly increase total volume
Union Jack Oil eyes “considerable upside” at West Newton project
"There remains considerable upside in the opinion of Union Jack`s management especially with the Ellerby and Spring Hill Prospects being on-trend with West Newton," said chairman David Bramhill
Union Jack Oil highlights progress in West Newton planning process
The partners in West Newton seek planning approval to produce from the two existing wells and drill up to six further wells
Union Jack Oil to increase Biscathorpe stake to 45%
Biscathorpe presents a material and commercially viable opportunity that remains untested, the company said
Union Jack Oil reveals Wressle countdown continues as work-over kicks off
The start-up of Wressle will be a long-awaited and important catalyst for Union Jack Oil
Proactive weekly oil & gas highlights: Union Jack Oil, United Oil & Gas, 88 Energy, Genel Energy …
There was a steady flow of news from London's oilers again this week
West Newton can transform Union Jack Oil suggests SP Angel
Results were much better than the forecasts beforehand said the broker,
Union Jack Oil’s West Newton appraisal well confirms substantial hydrocarbon column
Executive chairman David Bramhill said the initial well result has exceeded the company’s expectations.
Union Jack Oil loans £1mln to Egdon as Wressle field start-up is deferred to January
The oil field start-up is said to be at an advanced stage despite supply chain challenges amidst the pandemic and the upcoming festive period
Union Jack Oil updates on West Newton as side-track drilling starts
Findings from the drill programme will inform optimal locations for future development wells
Union Jack Oil and Egdon eye February planning application for Biscapthorpe project
The plan is to drill via sidetrack from the suspended Biscathrope-2 well
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Oil price, Union Jack, President, Touchstone, GMS. And finally…
Oil rallied yesterday, economic data from China was better than expected, imports of 11.8m b/d in September were up 5.5%m/m and 17.5% y/y which rather flies in the face of those who suggest that China demand is over. US retail gasoline was
Union Jack Oil increases stake in North Kelsey project ahead of 2021 well drilling
The plan now is to execute a new farm-out ahead of a well drilling programme, slated for 2021
Union Jack Oil cheers spud of West Newton B-1 appraisal well
The 2,000-metre drill programme will run for six to ten weeks
Union Jack Oil countdown continues to next West Newton well
The project is advancing towards drilling the main well.
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Proactive weekly oil & gas highlights: Union Jack, Zephyr Energy, ADM Energy, IGas, TomCo, COPL, Deltic, Genel, Mosman ...
It was another busy week for the small-cap oil and gas sector
Union Jack Oil raises £7mln from placing and subscription
Union Jack's cash position increases to approximately £11mln
Union Jack Oil says its confident and optimistic, milestones eyed at key projects
"We have seen significant progress at our three key project interests, namely West Newton, Wressle and Biscathorpe”
Union Jack Oil looking at fundraise for flagship and other projects
In a statement, Union Jack said it is funded for drilling at West Newton and for the associated extended well test activity
Union Jack Oil notes planning approval for North Kelsey-1 well
The North Kelsey-1 site is located within the PEDL241 licence, in which Union Jack owns a 20% stake
Union Jack Oil notes partners at Biscathorpe end dispute as settlement is received
Back in June, Humber and Egdon said they looked forward to co-operating in the development of the licence.
Proactive weekly oil & gas highlights: Union Jack, SDX Energy, Falcon Oil & Gas, Aminex, Mosman O&G ...
It was another active week in the small-cap oil and gas sector
Union Jack Oil and partners advancing efforts to plan next wells at West Newton
As investors eye news from the West Newton B programme, the partners are beginning the planning process for the possible C and D well sites.