United Oil & Gas Share Discussion Threads

[fbrj] 17/12/2020 13:19

Malcy chats to Brian Larkin, CEO of United Oil and Gas

22 mins



Main takeaways
2021 - 5 production uplifts: 3 x Egypt, 1 x gas Egypt and Italy. All self funded.

No intention/need to return to equity markets.

Jamaica: awaiting "seepage" report (towards end of Jan). Not just Calibri to farm down now, so bigger asset as shown by CPR. Better story. 12 months to find partner, once all info available.

[soulsauce] 15/12/2020 15:15

Lol.

This has touched intra day 3.4p before now so I don't think we can call breaking the 3p resistance until we get several days of increases with volume.

[valhalla3] 15/12/2020 13:53

Dan I suggest you start brewing your own beer and upping your intake of alcohol.

[dandadandan] 15/12/2020 10:22

The gradual share price increase continues.

(Expecting some good news from BL next, hopefully before Xmas).

This share price movement is like watching paint dry......

Patience, patience, patience.....


DDDD.

[dubjon] 14/12/2020 15:38

Waiting too.
Bought more last week in anticipation of 3p resistance giving way.

Fingers crossed!

[valhalla3] 14/12/2020 15:16

You have the patience of a saint dan. I'm guessing you like the grog!

[dandadandan] 14/12/2020 10:35

It looks like the 3p resistance about to go?

Been waiting a while for this one.

DDDD.

[soulsauce] 09/12/2020 09:17

In that it is like a nagging groin injury ;-)

[valhalla3] 09/12/2020 09:14

Lol soul yeah it does have similarities.

[soulsauce] 09/12/2020 09:12

Hi valhalla, thankfully Larkers has a bit more luck with the drill bit (so far) but in lots of other respects it's like an uncomfortable replay lol.

[valhalla3] 09/12/2020 09:07

DAN MM don't often miss opportunities. I doubt they're asleep. Don't get sucked in. Dusta Derek will have ua pants down eh soul! :€

[dandadandan] 08/12/2020 15:48

It looks like the Market Makers are giving a fantastic discount and have not yet woken up.

Get in quick, while you can, is my view.

No interest from money in a bank, so at these lowly share price levels you cannot lose much, especially with those UOG covering asset values.

It is watch and wait time.

DDDD.

[the chairman elect] 08/12/2020 14:41

Based on a risked valuation of Walton Morant, Cenkos raised its share price target for United Oil & Gas overall to 21.2p from 18.1p and added that unrisked, the value of its assets is 108p.

Optiva also raised its price target for United Oil & Gas to 25.1p from 20.5p and noted that the current share price is more than covered by its valuation of the company’s 22% interest in the Abu Sennan producing asset in Egypt, which is currently performing strongly.

[soulsauce] 07/12/2020 13:09

No point getting excited Spangle while sellers remain to keep this under 3p.

[spangle93] 07/12/2020 12:12

It's very quiet round here - is everyone still reading the report

[markstevenkirby80] 07/12/2020 07:54

17p + next year

[soulsauce] 07/12/2020 07:52

Lol. Good news but without a partner with very deep pockets a cpr is as far as we will get. That is when value will be added.

[the chairman elect] 07/12/2020 07:50

Jonathan Leather, Chief Operating Officer, United Oil and Gas, commented:

"United has long held the view that the Walton Morant Basin is a highly prospective and exciting basin, with billion-barrel potential. This is the second independent report on the licence and the first to explore prospects across the full basin. The results are exceptionally positive and support our strong conviction that this is a transformational asset.

"While the 77% uplift in the unrisked mean Prospective Resource estimate for Colibri, our main target in the Walton Basin, is an excellent result, we are just as excited about seeing the multi-billion-barrel potential of the licence as a whole. A successful outcome for Colibri now opens up even greater possibility in this region.

"Since concluding the agreement with the Jamaican Government to take on operatorship earlier this year, and informed by feedback from companies who have engaged with United and the previous licence operator in the data-room process, United has been making good progress on the committed work programme, and the CPR results here are another step towards reaching the Company's ultimate goal of being in position to drill the first exploration well offshore Jamaica for over 40 years. We are actively seeking partners to join us in making this happen - and unlocking the potential that is clearly present in Jamaica. This latest verification of potential will greatly help in that goal."

[spangle93] 07/12/2020 07:32

I feel a camera opportunity is imminent

[swanvesta] 06/12/2020 16:26

From memory I believe those discounts were to start in H2, and they amount to $2-3/bbl or so and are prior to govt take. In fact $600k annualised would be as little as $0.75/bbl net to UOG. PHAR also announced similar improvements to Brent discount and refinery fees.

Transglobe's renegotiation of its PSC is worth considerably more than that.

[theuninvitedguest] 05/12/2020 23:58

From the interim results Pricing discount improvements and reductions agreed with EGPC has potential to deliver between $600,000 to $800,000 uplift in revenues at current production levels on an annualised basisNot sure as to when this was agreed or when new terms start

[swanvesta] 05/12/2020 19:14

Transglobe on thursday announced their PSC renegotiation with EGPC, which will enable them to develop 59.1m previously uneconomic barrels. The revised terms improve netbacks by about $7/bbl at current oil prices, but more like $5 after other payments are taken into account. Shares are up 40% on the news.

Will be interesting to see if PHAR can achieve something similar, as their huge development at El Fayum is currently on hold for lack of cash at current oil prices and fiscal regime.

UOG are actually making a bit of money, but if others are upgrading their terms would the consortium at Abu Sennan not be seeking the same?