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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| United Oil & Gas Plc | UOG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.165 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.165 | 0.165 | 0.165 | 0.165 | 0.165 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 02/4/2024 10:16 by 1347 It's meaningless and valueless.Eggedon have been kicking this can for donkeys years, as they do everything. They promised to drill it in 2022, 2023 and the latest was that it would be H1 2024, yet they still haven't got any planning approved. If DCC don't approve it then an appeal by Eggedon will take ages and if they do approve it then Finch et all will appeal it anyway. Also, do they have all the EA permits in place and up to date, because if they don't that's another year or so to add on. My call is that this will just drag on and on and on and on.... UOG don't have the funds for a drill anyway so even if Egedon got their ducks in a row and a cash call comes in then where do you think it will get funds from? They've just done a huge discounted placing to raise not very much at all. Also, why are UOG claiming a 26.25% interest when the NSTA portal shows them having just 18.95893%? Come back in a years time if UOG are still here. Larkin gambled on Egypt and that's gone belly up. Jamaica is pie in the sky stuff. |
Posted at 20/3/2024 16:14 by apotheki The sh*t end of the AIM where the likes of UOG lurk really has become like the pink sheets in the US |
Posted at 20/3/2024 15:35 by 1347 Spoke too soon, equity wipeout it is.United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a high impact exploration asset in Jamaica and development asset in the UK announces the results of the General Meeting held earlier today where all the resolutions were duly passed on a poll vote. Accordingly, the capital reorganisation has completed and the conditional Fundraising, results of which were announced on 27 February 2024, will complete on the admission to trading of the Fundraising Shares that will take place at 8.00am tomorrow that is 21st March 2024. |
Posted at 15/3/2024 11:27 by spangle93 Thanks - I've had no notification from the platform on which I hold the shares, so I thought I would send them a copy of the resolution so they knew to what I was referring. But, despite the assertion that it would be on the UOG website, I can't find itMy holding won't make any difference, but symbolically I'd like to vote |
Posted at 06/3/2024 18:42 by 1347 Didn't participate, Larkin has nothing to say that I want to hear, no point listening to yet more blarney.This is what they said in 2021. "Waddock Cross remains noncore, and United are continuing to review alternatives for this asset" Now they are clutching at straws. Nothing much happens with Eggedon anyway, they are the O&G equivalent of a can-kicking Glacier, they'be been promising drills at various sites for years now. UOG don't have the funds for any significant cash call anyway, that's how they got into this mess. |
Posted at 06/3/2024 11:32 by 1347 What happens to another company in another area doesn't have much bearing on what is happening with UOG in Jamaica. Been trying to farm it out for years, yes there's always a chance but then there is always a chance you may win the lottery, probably better odds.I don't know about others but I have zero trust or confidence in Larkin now, screwed up three North Sea assets and now screwed up in Egypt, still don't know what the settlement is for that. Recent equity wipeout was the end of the line for me, blarney overload circuit tripped. I suspect anyone ramping here now is either daft, an insider or a placee. |
Posted at 06/3/2024 10:14 by apotheki Good morning Spangle93 - thank you for your post 7039 above. Despite everything and perhaps more to the point everyone [BODs] I have always stated that UOG do have half a chance potentially reference JamaicaSome of these MAJOR oil and gas companies have large budgets that need to be utilised |
Posted at 25/1/2024 08:27 by 1347 I did a review of this shambles and this is where they are:Abbu Sennan: Paid $16 m for acquisition from Rockhopper. SPA valued it at $2.052 m in November 2023, which equalled the cash call at the time, so worth nothing. Now a liability as cashcall now stands at $3.822m. Plus $1.089 m debt overhang, less the $0.8 m EGP owe (if they ever get it). Jamaica: Been looking for a partner for 4 years plus, no-one found. Amended PSA. What are the terms for that? Anyone know? No funds to progress anyway. North Sea: After the Hisbscus fiasco (lost P2366 Crown licence then had legal dispute, eventually settled). Then had the Quattro fiasco. Lost licence P2480 licence (Zeta), now lost P2519 licence (Maria), expired in December 2023. Larkin's not mentioned that though has he? More non-disclosure of material information. Waddock Cross: Difficult field that Eggedon have never done anything with in years and that UOG wanted to exit. Eggedon have now applied for a 10 year extension and permission for more drills but unlikely to get permission and even if they do it will face possibly years of appeals and legal challenges. Plus UOG don't have the funds for a cash call even if they did get the go ahead. I don't see anything worth didly squat here now unless they find a partner for Jamaica very shortly. If anyone was interested they'd be better off just buying UOG, they'd get it cheap, it's worth damn near nothing anyway, sell Waddock to Eggedon for whatever they can get and send Larkin and the rest of the useless clowns down the road. Change my mind. |
Posted at 25/1/2024 07:27 by apotheki United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & GasCorporate Update - Confirmation of Jamaica Licence Extension United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a portfolio of development, appraisal and highly prospective exploration assets, issues the following corporate update in relation to its Jamaica licence. Highlights: - Two-year extension of the Jamaican Walton Morant Licence to 31 January 2026. - Large 22,400km2 offshore exploration block situated to the south of the island of Jamaica. - 2.4 billion bbl of unrisked mean prospective resource potential audited by Gaffney Cline & Associates, including the initial drill ready Colibri prospect of 406 million barrels of unrisked mean prospective resources. - Attractive fiscal terms and supportive host government. - Potential NPV10 of c. $23 billion* to United at 100% working interest over the c. 25-year production life of the licence based on successful discovery and development of the 2.4 billion bbl of unrisked mean prospective resource potential. - Success-case breakeven oil price of c. $25 per bbl*. - Conventional exploration and potential development techniques, featuring the potential for a low carbon emissions oil development. - Significant interest from potential industry partners with marketing to scale up considerably following confirmation of licence extension. Jamaica Update United Oil and Gas Plc is pleased to announce that following the announcement made on 22 January 2024, the Jamaican Ministry of Science, Energy, Telecommunications and Transport ("MSETT") have signed an amendment to the Production Sharing Agreement ("PSA") therefore confirming the extension of the Walton Morant Licence to 31 January 2026. During this extension, United will undertake additional technical studies including piston core sampling and seismic reprocessing, aimed at further de-risking the petroleum system and better defining the prospects and leads identified on the Licence. With the licence extension confirmed, United can now build confidently on the farmout process carried out to date and re-engage with the recent positive interest that has been shown by other parties in participating in this high impact exploration opportunity, in a region with immense potential. The Company and its advisors, Energy Advisors Group (Houston, Texas) and Envoi (London, UK), will now continue in efforts to secure a partner, in a market that the Board believes holds renewed interest in exploration opportunities worldwide, driven by the strong future demand for oil and gas. Outlook for 2024 Following the Company's exit from Egypt, in addition to the focus on the Walton Morant Licence, the Company's strategy for 2024 will focus on the Waddock Cross oil field where the Company holds a 26.25% working interest in Licence PL090. During 2020, Operator Egdon Resources coordinated the completion of reservoir modelling work on Waddock Cross. The Operator estimates that Waddock Cross contains a significant Stock Tank Oil Initially in Place (STOIIP) gross volume of 57 mmbbls, and that a new horizontal well could yield commercial gross oil production of 500-800 bopd and c. 1 mmbbls recovery per well. As of 31 October 2023, the Operator Egdon advises that they are progressing plans for restarting production at Waddock Cross and we expect to be able to provide an update to the market in due course. United Chief Executive Officer, Brian Larkin commented: "This two-year license extension in Jamaica is a significant next step in our strategy alongside our onshore operations in the UK. The Walton-Morant Licence is a vast exploration area of 22,400km2 that United holds 100% a working interest containing potentially over 2.4 billion barrels of unrisked mean prospective resources including the promising Colibri prospect, which could be worth a potential c. $23 billion* NPV10 to United at 100% working interest on an unrisked success basis. This licence extension enables us to confidently continue our farm-out campaign, seeking a strategic partner to unlock the immense potential in this region. The Government of Jamaica remains supportive of hydrocarbon exploration and achieving the potential of this Licence. Against the global backdrop of geopolitical instability, exploration and development success on the Licence could be transformational for the nation delivering long-term energy security, generating significant revenue and creating economic opportunities for the nation in line with Jamaica's National Energy Policy. We will continue to focus on the recent positive interest that has been shown by several parties, and with the extended licence, this is a significant opportunity for the benefit of all stakeholders. I would like to thank the Government of Jamaica for their support and efforts to bring us to this point and we will continue our work programme in 2024." |
Posted at 24/11/2023 22:26 by thirdtimelucky1 ameen post ….We all need to be more vocal and should contact BL directly (imo). I have already send him a email yesterday. He has already responded to another LTH and is arranging an investors call asap. Key points I mentioned on my email: * I was present on the 23rd July call (listening only as I joined from Morocco) This was so reassuring and like many others LTH, I have heavily averaged down and now hold over 2% UOG stock (my biggest holdings in any UK stock ever). * Yesterday’s RNS announcement was a huge blow to us all to say the least, many people across LSE chat etc are saying/thinking this is the end of the company. Obviously I don’t think that at all and I have added more shares (hard earned money I cannot afford to lose, I have put our future family house buying funds in to UOG stock as I believed he would maximise value for all shareholders). * His failure to deliver any value to shareholders over several projects is inexcusable. The only workaround was Maria and Jamaica, for now he should step up and deliver first then get paid and at this point Brian should be taking ZERO salary for the foreseeable and RNS immediately as he has his shares in UOG, if he turns the company around he will be very well rewarded like all suffering LTH. * We’re seriously worried about cash balance as it must be running low and he assured us there will be no future Fund Raise * Few holders think it would be worth a vote, if share holders would consider the selling of the Egyptian asset as it could be worth significantly more then what UOG paid for it and way more then our current MCAP. *From the call on 23rd July, I recall him saying ‘’HE WISH he could BUY more shares but are in a closed period because of quattro and Jamaica news to come (as this is not the care anyone will you be buying shares on the open market immediately?) * We’re paying back $223,000 BP loan monthly to be fully paid early Jan or Feb 2024 (after debt is paid off, this amount will be added to company’s cash flow, can this be done asap and RNS issuesed). Above are few key points from my email and I feel we must ask these and more at the next Teams call/meeting. |
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