United Oil & Gas Share Discussion Threads

[soulsauce] 08/6/2020 16:22

You didn't mention our debt tidy

[tidy 2] 08/6/2020 16:11

Bit more perspective Tullow £5bn debt high cash burn. UOG cash rich low cash burn, strong fledgling with Tullow roots.

[tidy 2] 08/6/2020 15:38

For example Tullow require 35 dollars per barrel to break even, UOG profitable from 6 dollars.

[tidy 2] 08/6/2020 15:06

Producing at 6 dollars per barrel to boot that's a huge profit margin.

[parob] 08/6/2020 14:04

Market starting to wake up to how undervalued this stock is. Will be producing over 2,500 boepd in the coming weeks and the market cap is still under £20M. Crazy when you compare to peers.

[tidy 2] 08/6/2020 13:59

Can sell over the ask and NT to buy. Offered 3.12 to sell.

[tidy 2] 08/6/2020 09:48

Filling a buy order here.

[source] 08/6/2020 09:16

Market Makers taking the p*ss again by massively widening the spread...crooks.

[tidy 2] 08/6/2020 09:07

Like he said the RNS was premature but they had to release something due to the press leaking info. So it was a part test result/update with the full results in the pipe.

[xxnjr] 08/6/2020 08:57

And given that it was actually a good well test not really necessary to overhype it!

[spangle93] 08/6/2020 08:51

Yes and maybe.

Yes, it was from one zone out of probably 3.

But Brian has an interesting, and optimistic, way of converting gas into BOE. Despite the fact that there's no economic equivalence, most people convert dry gas into BOE using 1 BOE = 5800 scf, or 1 to 6 if you round it off. So 18 MMscf/d would normally be about 3,100 boepd, which when added to a liquids rate of 4,100 bopd, would make 7,200 boepd.

To get the quoted 8,700, you'd have to use an equivalence of 1 BOE = 3900 scf

Maybe that's appropriate if the gas contains a high NGL yield, but on the face of it, the boe figure looks a bit suss (even though it's stated twice)

Though in contrast, he says once testing it complete it will raise production from the licence from 1,800 to 2,500 boepd, which is in line with the 7,000 that standard calculations would arrive at

[tidy 2] 08/6/2020 08:43

Am I right that thinking the last forced RNS due to the press release was almost 9k flow pd was for only one zone of the 120m pay zone?

[markstevenkirby80] 08/6/2020 08:27

6,7 on way

[parob] 08/6/2020 08:18

Great start this morning but still a long way off current broker share price targets: Optiva: 8.1pCenkos: 7.3p

[parob] 07/6/2020 18:57

#UOG; flag formation, pulling back to the 161.8% ext after that huge initial move higher. The inside candle on Friday suggests this is the retrace completed now. Levels in play 2.68p-3.08p, can continue to extend further though 3.36p, 3.51p & 3.72phTTps://twitter.com/antmwah/status/1269688736616513541?s=21

[parob] 07/6/2020 07:50

United Oil & Gas PLC (LON:UOG) was a strong performer this week after the group revealed on Wednesday the latest successful well result at the Abu Sennan concession in Egypt.The company said the El Salmiyah-5 well had encountered some 120 metres of net hydrocarbon pay across four intervals which, as United highlighted, makes the main target materially larger than was previously believedTesting of the Kharita Reservoir achieved a rate of 8,700 barrels oil equivalent per day, comprising 4,100 barrels of oil equivalent per day (boepd) plus 18mln cubic feet of gas per day, the group added.In the wake of the news, United O&G had its share price target bumped up by Cenkos Securities to 7.3p, which said it was impressed by the result from the El Salmiya-5 well.The City broker noted that the well encountered net pay in all the target intervals, while there were indications of a potential thicker and larger undrained area up-dip of the existing El Salmiya wells.As a comparison, the El Salmiya-2 well, drilled in 2013, encountered 56 metres of net pay within the Kharita and was tested at a rate of 3,530 boepd and 4.7MMscf/d of gas, said Cenkos.The broker also noted that the 8,700 boepd achieved on test is just from the primary Kharita target and does not include production from the Abu Roash C or E Members.hTTps://tinyurl.com/y8xb3bt2

[tidy 2] 06/6/2020 22:14

UOG taking RKH 22% stake was a great move. United Oil and Gas (AIM: UOG) received more good news from the Abu Sennan Concession in Egypt. A second well, the El Salmiya-5, has come in ahead of pre-drill estimates after 8,700 barrels of oil equivalent per day were recovered during testing. The well, which encountered 120m net pay, will be brought into production after further testing. Once online, United's share of Abu Sennan's production is expected to rise to over 2,500 boepd in the coming weeks, a threefold increase on the 800boepd when the Company agreed to acquire Rockhopper's 22% interest in the field in January 2019. El Salmiya builds on the success of the ASH-2 well in January, which is currently producing at over 3,000 bopd. Importantly, with operating costs at around $6.5/bbl, production at Abu Sennan is highly profitable at today's oil prices

[tidy 2] 05/6/2020 20:23

I still hold there John i have a private group for it.

[xxnjr] 05/6/2020 18:25

Our Brian is larking about ;-)

[soulsauce] 05/6/2020 16:43

😆👍

[spangle93] 05/6/2020 16:29

Wouldn't want to be out of this one over the weekend....

[tidy 2] 05/6/2020 16:27

The real update should be with us next week the last one was rushed due to a press release.

[parob] 05/6/2020 15:37

Brian's really not bothered about the current share price because he knows where it's going.