Union Jack Oil is a junior company which invests strategically within the UK Onshore Oil & Gas space, during the last year the company has raised and traded at a significant premium to today’s share price. Whilst I believe we should be cautious toward Oil & Gas plays with the spot price so low, we have to understand the low economic uplift costs UK Onshore presents. Union Jack Oil, as with many O&G onshore UK, are able to secrete a barrel of oil competitively $12-15p/bl, with the newly found buzz and momentum from Horse hill circulating coupled to a tidy set of recent updates and advances from within the UK Onshore particularly Union Jack Oil, I felt compelled to catch up with David Bramhill of UJO.
- Low uplift costs, thus making extremely cheap (economical) to produce
- An exciting period for the UK Onshore Oil & Gas space, with recent high impact news developments from HH
- Cash heavy company with a strong management team who are looking at potential asset / acquisitions
- Field development plan and potential reserve upgrade post testing period ending – Confirmation yet to come
- Initial encouraging signs from Wressle without down hole pumps or stimulation (encouragement)