United Oil & Gas Share Discussion Threads

[the chairman elect] 12/11/2020 11:50

As with other SME AIM listed oilers with MKT CAPS sub £100m....LSE:UOG are extremely undervalued especially given that they are actually an oil producer. If the oil price goes back into the $50's next year [perhaps hitting $60+] then with their very low cost base....LSE:UOG will be making an awful lot of the folding stuff!!!!

AIMHO but they are conviction BUY

[swanvesta] 11/11/2020 15:49

No, I'm not expecting that particularly, but I do see some handy cash being generated going forward as the oil price picks up. Egypt production seems to be well ahead of expectations in the due diligence for the deal.

[9tintin] 11/11/2020 15:22

Honestly can't see a dividend being paid in the near future, they have some debt to repay first and then there will be other deals and drilling to consider first IMO.

You might be here for a while (?) if that's what you expect from UOG

tintin

[swanvesta] 11/11/2020 15:16

The thing I like about these little oilies is they're relatively easy to get a handle on. Unless I'm much mistaken, operating cashflow will be at least $2m better in H2. That means actual profit (not just the paper one in H1), and cash positive.

If the $2.85m Crown payment comes in (a big if maybe), they'll have $4m cash, $1m of which could go towards a 5% divi at current share price

Can't see much actual downside, put it that way, though boredom and delay can take its toll.

[9tintin] 11/11/2020 13:58

Soul

The only thing that has been transformed - is my bank balance !

Swan


I don't have a handle on the figures, I just remember that figure from a while back ona presentation, of course because evrything is taking so long it is probably way out of kilter with reality.

Which is also true of most peeps expectations for this dog !

Give me a chance at 3p again and I will cut my losses which would be significant !

tintin

[swanvesta] 11/11/2020 13:46

I have Selva @ 175 boepd net to UOG. Gas price needs to average above $5/MMbtu to achieve annual revenue of $2m. Any ideas how much of that would be free cash?

[soulsauce] 11/11/2020 13:27

Still not feeling the transformation yet then 9tintin lol, no me neither 🥱

[9tintin] 11/11/2020 13:10

swan

I think revenues from Selva were projected in the region of £2M per annum or it may have been Euros - it was so long ago !!!

However at the speed the Italians work in signing off developments (even before Covid) it's going to take a while,,,,,,,,,,,,

Some time next year - maybe.

In the mean time we flat line.

ZZZZZZZZZZZzz

tintin

[the manini] 31/10/2020 17:03

If you think this ship is sinking Soul you'd better jump off then ?

[soulsauce] 31/10/2020 16:20

Yes Manini, I think those musicians that stayed positive and made the best of a bad situation on the deck of the Titanic succeeded very well 😉

[the manini] 31/10/2020 14:07

And the people that often succeed in life are the ones that look to stay positive, make the best of a bad situation. Negativity does nothing, creates nothing, inspires nothing. All it does is drain.

[soulsauce] 31/10/2020 10:39

You know the best Ceo's under promise and over deliver Manini, unfortunately from the start the opposite has been true here. Just a thought, and it is best to take that in to account every time he speaks to avoid obvious disappointment.

[spangle93] 31/10/2020 08:05

Oh, the old "sell up if you're not happy" line.

No, I'm not saying that delays won't result from the CoVid, though that seems to have become a universally useful carpet to sweep things under, e.g. if you're an Italian civil servant. The Egypt program was initially suspended because of the low oil price caused by a trade war between Saudi and Russia, though admittedly exacerbated by CoVid drop in demand afterwards

It was your use of "on schedule", when the schedule was slipping long before we knew about pangolins in markets in China. It's on whatever the schedule currently is, like a British Rail train I took once on a Sunday that arrived 5 hours late, and when I aligned, the announcement was "the rescheduled xxx train to xxx is on time". When first gas slips to 2H21, will it remain on schedule?

And "shortly", when no drilling is going to happen in this quarter, and probably the next. Have you bought Easter eggs yet, if not, better hurry ;-)

The company has got assets that I believe are worth more than the current share price indicates, so why would I sell? However, surely as an owner of the company, I can have a view about how my money is being used, even if it differs from yours? That's why I believed a discussion board was intended for? But maybe that's just me?

[spangle93] 30/10/2020 21:32

"Selva on schedule for H1 gas"

In the corporate presentation of Dec 2018, Selva was due on stream in 1Q 2020.

The official view remains onstream in 1H 2021.

So saying Selva is on schedule is a bit misleading when it's already over 6 months late. In the 22 months since the presentation, the first gas date has advanced 12-15. At least the lines still converge, so far...

However, today's PVE announcement notes "In the Selva gas field, east of Bologna, development and preliminary work has continued to prepare the field for maiden gas production in 2021. Latest government guidance points to final EIA decree and Production Concession expected in 1Q 2021."

So construction work can't start until Easter, and how slow is that going to be in Italy. Guideance for 1H start up hasn't changed yet, but wait for it to start saying "production start in 2021", which is the kedge to "2H 2021".


"Another well drilled in Egypt shortly". They aren't having a planning meeting until December.


I think you're a genuinely a believer rather than someone trying to mislead. But goodness, you stretch the English language (unlike Mr Larkin, who strangles it ;-)

[the manini] 30/10/2020 20:09

Far from it Soul. My opinion hasn't changed at all as nothing about the company has changed (in a negative sense), Selva on schedule for H1 gas, Jamaica cpr, and another well being drilled in Egypt shortly plus another possible divestment, all while in the middle of a worldwide pandemic and all fully funded! I've got a few miners springing to life which may allow me to top up in future, something I would be more than happy to do at current prices.

[soulsauce] 30/10/2020 19:39

Sad but true by the looks of it 9tintin.

Unfortunately due to successive overhangs this never got the post Covid boost to a fairer value at least somewhere nearer 4p but now the markets are turning sour again it is getting hit just as hard.

Even Manini has thrown the towel in by what he has just said there.
Yes all the ramptastic posters have disappeared from here and lse.
I am sure Larkin will spring out soon enough in his Super Reds Man United cape to try to save the day with more words of wisdom 😄.

[9tintin] 30/10/2020 19:16

Soul

You have had the transformation - the share price has virtually halved!

Funny all the rampers have disappeared.

tintin

[the manini] 30/10/2020 19:16

I'm waiting for you to transform into a supporter of the company, might be a long wait for both of us...

[soulsauce] 30/10/2020 15:06

Disingenuous regarding shareholdings never, lol.
I am still waiting for the transformation 🙄🤞

[soulsauce] 30/10/2020 14:04

Hopefully the Jamaica cpr won't be long to stop the rot 😖.

[fbrj] 27/10/2020 07:15

The RNS we've all been waiting for :(About time we had some decent news!