Page 2 - Lon Ujo News Today

Union Jack Oil plc (LON:UJO – Get Rating)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 29.73 ($0.36) and traded as high as GBX 41.77 ($0.50). Union Jack Oil shares last traded at GBX 41.50 ($0.50), with a volume […]

26 May 2021 | 09:24am StockMarketWire.com - Oil company Union Jack Oil welcomed news that North Lincolnshire Council had approved the storage of crude oil at the Wressle project. Union Jack held a 40% economic interest in the development, which was operated by Egdon Resources. The grant of consent allowed full use of the installed oil storage capacity at site of about 2,000 barrels. Union Jack said it would enable full production from the Wressle-1 well following a proppant squeeze expected t...

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 PLC (LON:UJO) told investors that equipment to complete and test the West Newton B-1Z well, in Yorkshire, has now been mobilised. Gear required for the programme were mobilised yesterday, according to project operator Rathlin Energy, including a wo...

17 May 2021 | 08:03am StockMarketWire.com - Oil company Union Jack Oil reported a full-year loss, as it and partners continued to develop the West Newton prospect in England. Pre-tax losses for the year through December amounted to £1.87 million, compared to year-on-year losses of £1.69 million. Revenue edged up to £0.16 million, from £0.14 million. Union Jack had a cash balance in excess of £5.7 million at 1 May, not including loan receivables and royalty accruals of over £1 million due ...

Stockbroker SP Angel highlighted several near-term valuation catalysts for Union Jack Oil. Union Jack Oil PLC (LON:UJO) presents a compelling value opportunity, according to stockbroker SP Angel, which repeated a ‘strong buy’ recommendation. With a target price of 176p the stockbroker see some 400% upside to the current price of 34.37p. Commenting on Monday’s financial results statement SP Angel analyst Sam Wahab highlighted that the company is well-funded and debt free. “Bucking the tr...

Union Jack Oil on imminent results expected from both West Newton and Wressle Union Jack Oil PLCs (LON:UJO) David Bramhill joins Proactive London with an update on their latest financial results and future prospects. Bramhill is confident ahead of the imminent results expected from both West Newton and Wressle.  He says progress was made there at West Newton in Yorkshire where presently testing is imminent for two wells drilled in 2020. At the Wressle field, meanwhile, oil is free flowing and ...

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 PLC (LON:UJO) told investors the West Newton  B-1Z appraisal well has successfully completed cased hole logging and vertical seismic profiling operations. The next phase of work will see a service rig used to perforate and stimulate the Kirkham Abbey formation ahead of flow testing. This work exp...

The short to medium term focus will be on maturing this asset further to commercialisation, analysts said Union Jack Oil PLC (LON:UJO) was given a reiterated ‘strong buy’ recommendation from broker SP Angel after it said well testing operations are expected to begin in May. Keeping its price target at 176p, the broker said analysis of the recent drilling campaign gave investors “clear line of sight” on the much-anticipated extended well tests on both the WNB1Z and WNA-2 appraisal wells....

1 March 2021 | 09:47am StockMarketWire.com - Oil company Union Jack Oil said it had completed its planned acquisition of a further 15% economic interest in the Biscathorpe project. The deal was completed on terms originally announced on 18 January, with Union Jack now holding a 45% interest in the PEDL253 licence. At 9:47am: [LON:UJO] Union Jack Oil Plc share price was 0p at 0.15p Story provided by StockMarketWire.com Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account...

18 January 2021 | 07:28am StockMarketWire.com - Oil company Union Jack Oil said it had agreed to acquire a further 15% economic interest in a UK permit containing the Biscathorpe project from Humber Oil & Gas. The deal would see Union Jack Oil up its holding in PEDL253 to 45%. The company had offered £0.5 million cash, to be paid on Oil and Gas Authority approval and, following receipt of various planning approvals, a contingent payment of £0.5 million. PEDL253 was located within the proven h...