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    UJO   GB00BLH1S316

(UJO)

  Report

Union Jack Oil plc to Provide Positive Update on the Extended Well Test Operations at the Wressle Oilfield Development

08/24/2021 | 02:00am EDT

Union Jack Oil plc to provide a positive update on the extended well test operations at the Wressle Oilfield development (‘Wressle’), located within licences PEDL180 and PEDL182 in North Lincolnshire, on the Western margin of the Humber Basin. Union Jack holds a 40% economic interest in this development. Further to the announcement on 29 July 2021, the coiled tubing operation has been completed safely and successfully and the Ashover Grit reservoir has been returned to flow under well test conditions. Initial well test measured flow rates, under a restricted choke, have exceeded 500 barrels of oil per day which was the forecast rate following the proppant squeeze operation. The Wressle-1 well is continuing to clean up and has not yet reached its optimum potential. A further update will be provided once a stabilised oil flow rate is established in the coming weeks.

© S&P Capital IQ 2021

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Financials

Sales 2020 0,20 M 0,28 M 0,28 M
Net income 2020 - - -
Net cash 2020 7,40 M 10,2 M 10,2 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 26,5 M 36,5 M 36,5 M
EV / Sales 2020 95,5x
EV / Sales 2021 9,80x
Nbr of Employees 5
Free-Float 95,2%
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Technical analysis trends UNION JACK OIL PLC

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Income Statement Evolution

Consensus

Sell

Buy

Mean consensus BUY
Number of Analysts 2
Last Close Price 26,75 GBX
Average target price 133,00 GBX
Spread / Average Target 397%

Managers and Directors

David Roger Bramhill Executive Chairman
Joseph Bernard OFarrell Executive Director
Raymond George Godson Non-Executive Director
Graham Bull Non-Executive Director
Matthew Small Secretary

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