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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 to increase production to a constrained 500 barrels of oil per day. At 9:24am: [LON:UJO] Union Jack O...
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 workover rig, well test package, low-emission burners, and a wireline unit. The company noted that the...
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 during 2021 and 2022. At 8:03am: [LON:UJO] Union Jack Oil Plc share price was 0p at 0.15p Story prov...
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 trend of its E&P peer group, 2020 was a year of considerable operational progression for Union Jack,...