United Oil & Gas Share Discussion Threads

[cpap man] 27/11/2017 07:41

Monday 27 November, 2017
United Oil & Gas PLC
Latin America Farm-In Agreement
RNS Number : 5287X
United Oil & Gas PLC
27 November 2017

27 November 2017



United Oil & Gas Plc

("UOG", "United" or the "Company")

Latin America Farm-In Agreement



United Oil & Gas Plc ("UOG", "United" or the "Company"), the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce an agreement to farm-in to the Tullow Jamaica Ltd ("Tullow") operated Walton-Morant licence, offshore Jamaica.



Subject to approval from the Petroleum Corporation of Jamaica (PCJ), United has signed an agreement with Tullow to farm-in to the Walton-Morant licence at a 20% equity interest. Tullow entered the Walton-Morant licence, which covers an area in excess of 32,000km2, in October 2014. In addition to securing a large portfolio of legacy 2D seismic data, Tullow also acquired a further 3,650km of 2D seismic in 2016 and 2017. Interpretation of the data set has identified attractive Cretaceous and Tertiary aged clastic and carbonate reservoir targets and Tullow now intends to conduct a 2,000km2 3D seismic survey in H1 2018 focusing on the high-graded Colibri lead.

The Walton Morant Licence, offshore Jamaica, offers a commanding Caribbean exploration opportunity with access to play diversity across three geological basins. Only 11 wells have been drilled in the area to date, and despite difficulties with well placement due to a lack of seismic control, 10 of these encountered hydrocarbon shows. Recent work, including extensive onshore fieldwork, has confirmed the presence of all the elements required for a working petroleum system, and has also identified a thermogenically derived offshore oil seep close to the main prospect of interest, providing further confidence that there is the potential to find significant commercial volumes within the licence.

Brian Larkin, United CEO, commented:



"We are delighted to announce our new Jamaican partnership with Tullow Oil. At our time of listing, we outlined a clear strategy of building a low-risk business in Europe whilst also adding blue sky exploration upside in Latin America and Africa. This acreage is well known to the United team and we are very excited at the prospect of participating in this high impact campaign.



The current low-cost environment has allowed United to take a material 20% equity position in this high potential frontier exploration license and we look forward to working with Tullow Oil in the coming months to advance the 2017 and 2018 work programmes. In addition to our new Jamaican interest, we continue to evaluate further potential farm-in and acquisition opportunities and we look forward to updating our shareholders in the coming months."

[bobby1904] 27/11/2017 07:32

Fantastic news! CPAP we called that one right!! This has 5p+ all over it now....

[snickerdog] 27/11/2017 07:26

This is some serious stuff with the new deal

[ravin146] 21/11/2017 11:52

Can see this go past 5p, with a ok well result.Undervalued with acquisitions on the cards.Dyor

[bobby1904] 21/11/2017 10:50

Agreed CPAP. Italy is great, don't get me wrong, BUT the prospect of new and exciting large projects further afield is what's even more exciting. Hopefully we will hear something before Christmas to make the holiday period even more enjoyable!!

[cpap man] 21/11/2017 09:40

Brian Larkin, CEO commented:

"We are extremely pleased that United's first well has been spudded. This will be an important milestone in the development of the Company.



United has a clear strategy of acquiring, developing and unlocking the value of low risk projects in Europe, while seeking high impact exploration opportunities in Africa and Latin America. This first well is an important step in implementing that strategy."



Another mention by UOG in another UOG RNS of MEGA oil & gas projects in Africa and Latin America!!!!

[cpap man] 21/11/2017 09:10

Finally....an RNS from UOG ref: Po Valley [SPUD] drilling



Tuesday 21 November, 2017
United Oil & Gas PLC
Spudding commences on Italian licence
RNS Number : 0845X
United Oil & Gas PLC
21 November 2017



21 November 2017



United Oil & Gas Plc

("UOG", "United" or the "Company")

Spudding commences on Italian licence



United Oil & Gas Plc ("UOG", "United" or the "Company"), the London Stock Exchange listed oil and gas exploration and development company, issues the following update on the Italian Podere Gallina licence:



United Oil & Gas Plc, is delighted to announce that further to the update announcement of 24 October 2017, Po Valley Energy Ltd ("PVE"), the licence operator, has spudded (commenced drilling) the Podere Maiar well. It is understood that the well will take approximately 5 weeks to drill. Well-testing is planned in the case of success, and will be undertaken once drilling operations have been completed



Brian Larkin, CEO commented:

"We are extremely pleased that United's first well has been spudded. This will be an important milestone in the development of the Company.



United has a clear strategy of acquiring, developing and unlocking the value of low risk projects in Europe, while seeking high impact exploration opportunities in Africa and Latin America. This first well is an important step in implementing that strategy."

[cpap man] 21/11/2017 08:15

PXOG [plus UOG]



Prospex Oil & Gas (PXOG.L, 0.54p) – Speculative Buy

Prospex has announced that the Podere Maiar 1d well, onshore Italy, spudded early this morning. The well is targeting 17bcf of gas and will be drilled to 1350m, completing in 20-25 days. Assuming success, well testing will likely be in January. Prospex has a 17% working interest in this well, and the wider Podere Gallina permit in the Po Valley region.

Our view: Prospex only invested in Podere Gallina a few weeks ago so its good to see such quick progress. And with drilling underway at its 50% owned Bainet-1 well in Romania, Prospex currently has two drills turning, both onshore, both Europe and both gas. We have a Speculative Buy recommendation.

Beaufort Securities acts as corporate broker to Prospex Oil & Gas plc

[cpap man] 21/11/2017 08:05

Bit disappointed that UOG have not [yet any way] issued an RNS

[ravin146] 21/11/2017 08:02

Fantastic news parisv

[cpap man] 21/11/2017 08:00

PXOG & UOG



PXOG [also applies to UOG who actually have a higher % at 20% of the Po Valley drill that has SPUDDED now]



Tuesday 21 November, 2017
Prospex Oil and Gas
Commencement of drilling, onshore Italy
RNS Number : 0713X
Prospex Oil and Gas PLC
21 November 2017

Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas

21 November 2017

Prospex Oil and Gas Plc ('Prospex' or the 'Company')
Commencement of drilling, onshore Italy



Further to the Company's announcement of 31 October 2017, Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to confirm it has been advised by the operator, Po Valley Energy ("PVE"), that the Podere Maiar-1d appraisal/redevelopment well ('Podere Maiar' or 'the Well') on the Podere Gallina Exploration Permit ("Podere Gallina" or the "Permit") in the Po Valley region of Italy spudded at approximately 4.00 a.m. on 21 November 2017. Prospex has a 17% working interest in Podere Gallina, which is located in a proven hydrocarbon province where over 5,000 wells have been drilled historically.



The Podere Maiar well is being drilled into the Selva Gas-Field (previously operated by ENI), which historically produced 83Bcf between 1960 and 1984. Modelling work highlights the potential to recover undrained gas structurally updip from historic Selva wells. The Well, which is targeting contingent resources of 17 Bcf, will be drilled to a total of 1,350 metres measured depth by PVE, with completion targeted in 20 to 25 days. Well-testing has been planned and, in the case of success, will be undertaken in mid-January 2018. The rig will be released once drilling operations are completed and additional equipment brought in for well-testing.

[ravin146] 20/11/2017 22:04

Cpap do you even own shares here?

[cpap man] 20/11/2017 10:25

UOG ticking up again this morning tbbo so perhaps news on the Po Valley drill [SPUD] is getting close now?

[thebigbadone] 17/11/2017 14:05

Apologies - I was going by the RNS from end of October. Let's await the announcement in that case. Imminent hopefully anyway!

[cpap man] 17/11/2017 11:40

Are you tbbo sure that the SPUD has taken place yet? Only mention this as would have thought that all the listed companies including UOG of course would want to make a further announcement [RNS] that the Po Valley drill [SPUD] has commenced?!?!?

[thebigbadone] 17/11/2017 11:36

5 weeks from 13th November - I make that 18th December. Soon time to strap in!

[maverick247] 16/11/2017 22:50

Reckon news lands soon now on a number of fronts as clockbeen ticking

[ravin146] 16/11/2017 12:34

Drilling must have started this week...not long until big news!

[ravin146] 13/11/2017 10:21

Cpap do you hold any shares here?

[ravin146] 10/11/2017 21:44

"The well is expected to commence drilling week commencing 13(th) November, and will take approximately 5 weeks to drill...."Xmas present?!

[ravin146] 09/11/2017 15:05

Plenty of buys barring that 500k, though could be a warrant

[bobby1904] 07/11/2017 16:16

CPAP is right. Heard same rumours. It's obvious - leave big Oil company - set up new small oil company- stay friends with old colleagues at big Oil company - new opportunities sought - happy days!!...

[cpap man] 07/11/2017 15:40

From the lips of Brian Larkin EX Tullow Oil & now UOG CEO....

"United Oil & Gas [UOG] has a clear strategy of acquiring, developing and unlocking the value of low risk projects in Europe, while seeking high impact exploration opportunities in Africa and Latin America."