UK 08:54 Tuesday, 13 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Union Jack Oil (UJO) has updated investors with news including that it is to provide a £1 million loan facility to Wressle oil field (Union Jack: 40% economic interest) operator Egdon Resources (EDR), which “as well as providing a commercial return on funds will also assist in the development of the Wressle oil field”, and Wressle “workover being completed and initial oil flows anticipated later in January 2021”…
Union Jack Oil (UJO) “is pleased to provide an update on the West Newton B-1 appraisal well (WNB-1)”. The shares though responded to the update around 20% lower at 0.12p, so what’s going on?...
Whenever a smaller oil company is drilling a well these days you pretty much have to expect the share price to get hammered unless they announce a substantial find that exceeded market expectations, and that is exactly what hammered to Union Jack Oil (UJO) this week.
Union Jack Oil (UJO) has announced that the West Newton B-1 well (WNB-1) has spud with completion expected to take six to ten weeks...
On Thursday, there was a “Response to Market Speculation” announcement from Union Jack Oil (UJO), noting “recent market speculation relating to a potential fundraising”...
Union Jack Oil (UJO) “is pleased to announce” both an agreement to purchase a further 3% interest in PEDL253 and a settlement agreement with Humber Oil & Gas Limited...
Union Jack Oil (UJO) has announced it “is pleased to publish the positive conclusions of a Carbon Intensity Study on the West Newton hydrocarbon project”...
Union Jack Oil (UJO) “is pleased to announce that it has agreed to acquire a further 12.5% economic interest in PEDL180 and PEDL182 containing the Wressle hydrocarbon development project”...
But is Union Jack Oil (UJO) not a UK oil producer in an extremely troubled oil environment? It is… but only in a small and low-cost way and the oil market will swing back to a better environment as it always does. Meanwhile, the shares down from more than 0.30p last year and the asset potential here sees us ride again…yes, we have twice tipped this before and twice told you to bank big gains. Now for our hat-trick...
When Union Jack Oil (UJO) confirmed the results of the West Newton A2 drill in June, we were told consent was in place for the extended well test and this would go ahead in Q3 of this year. With all too many UK onshore drills impacted by delays due to difficulties obtaining planning consents everything sounded very positive. This week however has seen the operator make a planning application for the well test phase, which introduces timing risk.
Having previously banked gains on Union Jack Oil (UJO), we re-recommended at the end of last month at 0.19p to buy noting with the initial West Newton result excitement having calmed down and new funds raised, it looked a good opportunity to get back on-board before the potential excitement in the second half of this year and that the ‘commentators’ who ramped last time in a fairly aggressive way had not gone away & indeed participated in the placing. The shares are now 0.27p to sell on the back of a “Biscathorpe-2 Well Update”…
Caveat 1: SP Angel which produced this note is house broker to Union Jack Oil (UJO) so is biased. Caveat 2: Zac Phillips no longer works at SP Angel and the new analyst is not fit to lick Zac's boots. Caveat 3: Chris Oil owns stacks of these shares and will sell into any spike while urging others to buy like the dirty little spiv he is. Having said all iof that I can't fault the logic of this detailed note.
I suggested that Union Jack Oil (UJO) was planning a placing in yesterday’s bearcast. And lo and behold the Sheriff of AIM is right again, £2.25 million has been raised at 0.17p. But this raises big questions about the share trading activities of Mr Chris “Uranium” Oil, a man who has featured on this website often enough.
As is so often the case with oil and gas drills amongst the smaller companies, private investors built expectations around West Newton up to such a level that the actual results were never likely to live up to that.
