Published 15 days ago
The planning committee of North Lincolnshire County Council met on Monday to - again - discuss the Wressle application. Officials had recommended approval as it fitted in with all the authority's guidelines. All was set fair. Then came the first sign of trouble.
Published 20 days ago
Union Jack Oil (UJO) has announced that the North Lincolnshire County Council's Planning Committee will meet on Monday 3rd July 2017 at 2 PM to determine the new planning application for the Wressle Development which includes additional detailed information to address the specific concerns raised by North Lincolnshire County Council in its 11 January 2017 decision to refuse the original application.
Published 54 days ago
Union Jack Oil (UJO) has announced that Egdon, the operator of blocks PEDL180 and PEDL182, the Lincolnshire based Wressle prospect, has received a variation to the Mining Waste Permit. Union jack has a 15% stake in Wressle where progress in getting the field producing has been delayed by NIMBY's at the County Council.
Published 62 days ago
SP Angel is houes broker to Union Jack Oil (UJO) so take its notes with a pinch of salt. Bur I rate analyst Zak "The Knife" Phillips highly and as such today's reiterated buy stance after the news from Wressle cannot be totally ignored. As for the target price! The Kinfe writes:
Published 99 days ago
Union Jack Oil (UJO) has noted an “Appeal & New Planning Application” announcement on the Wressle oil field (Union Jack: 15%, including 3.33% subject to approval from the Oil and Gas Authority) from operator Egdon Resources (EDR).
Published 134 days ago
Now we know the reason for the £1.4 million placing at 0.135p by Union Jack Oil (UJO) a week ago. As we predicted at the time the acquisition it was targeting was at Wressle in Lincolnshire. Today we are told that Union has spent £600,000 to buy from Celtique Energie Petroleum Limited a further 3.33% interest in PEDL180 and PEDL182. Union Jack currently holds an 11.67% interest in both licences so its stake now goes to 15%.
Published 140 days ago
So another keep the lights on placing eh? As it happens no although the market has (wrongly) taken it that way. Union Jack Oil (UJO) already had a comfortable cash balance. So why raise a gross £1.4 million at 0.135p?
Published 162 days ago
Union Jack Oil (UJO) and its partner on the Wressle field, Egdon, have appealed against a planning set back on the Wressle field in North Lincolnshire. In the end it will win and at 0.17p (offer) the shares are undervalued and the stance is buy with a target of c0.3p at least.
Published 172 days ago
Union Jack (UJO) announced a couple of weeks ago that the planning committee at North Lincolnshire County Council had served up an adverse ruling in respect of the development of the Wressle Oil Field in North Lincolnshire licences PEDL180 and PEDL182. Union Jack holds an 11.67% stake in both licenses.
Published 287 days ago
The world still hates small oil stocks. We are not sure when that will change but given how many of the mid caps are collapsing either entirely (Afren) or surviving only via schemes that see shareholders almost wiped out ( XCite, Gulfsands, Gulf Keystone, IGAS, LGO, etc, etc) we feel we could be at a Burmah Castrol moment. Do a google search if you are too young to understand the reference!
Published 883 days ago
The markets are all about momentum and expectation a lot of the time, and that is especially the case with companies listed on AIM. One company that is currently seeing a fair bit of both of these share price drivers is Union Jack Oil (UJO), but I strongly suspect that it will end up vastly over-valued, even if there is further positive news on the current drill that it is involved in.