Catch24
29 Oct 2015
Shore Capital note Union Jack Oil’s upcoming catalysts eyed by Shore CapAn acceleration of the Wressle project is among the highlights, according to analyst Craig Howie Investors in Union Jack Oil (LON:UJO) can look forward to multiple share price catalysts, says house broker Shore Capital.Analyst Craig Howie, in a note, told investors that Union Jack was gaining momentum onshore UK, and highlighted the recent success at the Wressle discovery which is now being advanced through the field development process.“We anticipate an active year for Union Jack in FY2016 and, following the confirmation of plans to fast-track development of the Wressle discovery, the company has further strengthened its finances with a £0.8m placing (resulting in an estimated cash balance of £3.2m with no debt),” he said in a note.“This provides the flexibility for follow-on acquisitions as the company seeks to expand its portfolio of drill-ready projects onshore UK.”Howie notes the submission of the Wressle field development plan mong the possible catalysts in the coming months.He also points to the scheduled drilling of the Biscathorpe and North Kelsey wells.The analyst added that, following the most recent placing, the company is now fully funded into the 2017 financial year.[link]
Ripley94
28 Oct 2015
Re: SP Angel - Broker Note Did they take advantage of the spike to have a placing @ 17 ?
Joeby
27 Oct 2015
What's going on its very quiet
Ripley94
24 Oct 2015
Re: SP Angel - Broker Note just another spike it turned out , Buys at 0. 20 all day.
DukeDosh
22 Oct 2015
SP Angel - Broker Note This note from Angel earlier today:Union Jack Oil* (LON:UJO) – Wressle Development Phase StartedThe Company has today announced that the results of the recent Wressle well test have been sufficiently positive to move in to the development programme; the Company is currently initiating the design the phase. This is a significant positive for any company, but especially UJO, as it underlines management's approach to risk mitigation and creating shareholder value.Once the field comes on line, the cash flow from the operations, coupled with the lean corporate structure, means not only that the point at which the Company comes self-sustaining is lower, but that more of the cash get utilised for growing the business, which engenders flexibility and further growth potential.Ahead of the disclosure of the development plan, we are reiterating our 0.84p Target Price and BUY Recommendation.
Ripley94
22 Oct 2015
Re: UP 23% Up at open about 14% down to 6% by 10 am .Aim good for short term trades and the brokers. but too time consuming for those with other things to get on with.
pseudopolylageraemia
22 Oct 2015
Re: RNS - UJO IS COMMERCIAL UJO is turning out to be an excellent pure play on the price of oil.
biglad001
22 Oct 2015
RNS - UJO IS COMMERCIAL at last !!
Joeby
08 Oct 2015
Meant buy out ?
Joeby
08 Oct 2015
But out???
Ripley94
30 Sep 2015
UP 23% TODAY. No news !
Joeby
03 Sep 2015
It's never going to come
pseudopolylageraemia
05 Jun 2015
Re: news Yup.then the company may even be able to fund some of the increased share of the drill costs from production from Wressle.
