United Oil & Gas Share Discussion Threads

[x54v] 11/12/2017 09:48

"#UOG lots of buying this morning. Article over the weekend should get people’s attention to what the ex Tullow BoD are aiming for. This isn’t your typical AIM play this is a simple buy and hold. Lets see how she rolls"

[maverick247] 11/12/2017 09:44

£8.8m is ridiculous when you think company is funded for 2018 commitments and just struck significant gas!

[cpap man] 11/12/2017 09:10

Yes thank you maverick247 for that very good UOG article

[skiboy10] 10/12/2017 22:13

Good article

[the stigologist] 10/12/2017 21:49

CAVEAT EMPTOR

[maverick247] 10/12/2017 14:31

UOG Champions League Featured in this Sunday's Irish Business PostThe head of United Oil & Gas is convinced that his company's latest round of deal-making will see it in the big time before long Brian Larkin, chief executive of new Irish oil exploration firm United Oil & Gas, believes the company's newest flurry of deal-making will help catapult it from being "a Championship team to the Champions League".It comes on foot of a successful fortnight in which the company struck a deal with big brother company Tullow Oil for a potential well in Jamaica, and also confirmed a substantial gas find at a prospect in Italy.Last week, United Oil & Gas – which listed on the London stock exchange in August of this year – announced that it had confirmed 17 billion cubic feet of gas in the Podere Gallina in northern Italy, of which United holds a 20 per cent stake alongside Po Valley Energy.The deal, according to a release from Larkin, has "near term activity and can open up untapped value for our shareholders," with the drilling likely to begin in the second half of 2017.Also last week, United struck a deal to farm-in to the Walton-Morant licence offshore Jamaica, which is operated by fellow Irish oil exploration firm Tullow Oil.A report by stockbroker Optiva Securities said that the Net Present Value – a term assessing how much oil was in the prospect – was $600 million, based on a notional development of 200 million barrels, though it did concede that "ascribing a valuation to United's interest would largely reflect guesswork".Larkin, however, told The Sunday Business Post that the company's valuation of its stake in the field was roughly in line with analyst reports at $120 million.Unlike the Italian field, and United's other near-term prospects in Britain, Jamaica is more of a punt – with bigger risks, but bigger potential rewards. And, sensibly for a small company that has been publicly listed for less than a year, it is working to ensure it doesn't bite off more than it can chew"What will most likely happen, and is normal in the industry, is that on completion of the seismic [imaging], we would farm down to about 10 per cent and then get a significant carried interest," Larkin said, meaning a steady income from whatever oil major develops the field on their behalf.He pointed out that should the seismic go well, it could open up the whole basin and multiple follow-ups, driving the value of the licence – and the carried interest – substantially.Optiva wrote in their broker note that "United appear to have secured very attractive terms by which to gain entry to an extremely exciting high risk/high reward frontier exploration play with huge resource upside potential", which Larkin attributed to his longstanding relationship with Tullow.Both Larkin and Jonathan Leather, United's co-founder and technical director, are former Tullow executives and, Larkin pointed out, "we actually worked on it when we worked in Tullow, so we know the licence very well and have a better understanding of it than other potential partners".While the Jamaica project is being progressed, Larkin said that the company was "not betting the whole company on one licence" and was still working on its primary strategy of focusing on near-term, low-risk targets in Europe, such as the Italian well."The next step is to build a portfolio and continue to look at steady low-risk, near-term opportunities in Europe and also look at high impact plays in Latin America and Africa," he said.He also said he was using his wide network of contacts with senior executives in other oil and gas firms so he could avoid costly auctions or market transactions."The great thing about the Jamaica licence is its proof that United Oil & Gas can get access to and execute on large opportunities that most mid-cap companies and oil majors are chasing."Larkin said that the company was continuing to look at other opportunities, both in its main strategy of proven, near-term prospects in Europe, as well as larger opportunities elsewhere, and its current income will probably cover any of its capital expenditure in the future – meaning it doesn't expect to have to return to the markets for any fundraising as it builds out its portfolio."Right now we're fully funded, including for our share of the Jamaica prospect," he said, estimating roughly £1.5 million in costs."We're evaluating a number of follow-up and additional opportunities, the majority of which are in Europe and which fit exactly with our strategy of low-risk and near-term opportunities," he said. "But we're also looking at one or two other things in Latin America and Africa which, by their nature, tend to take a lot longer to execute, but which we believe would create significant value."Obviously, as we grow and add more opportunities into the mix, we'll have to go to the market at some stage."All of which is a significant statement of ambition, Larkin told this newspaper."We've been punching above our weight since we started with some of the assets we've acquired," he said. "To use a football analogy, I guess we're considered a Championship team but we're targeting the Champions League."

[griffin81] 09/12/2017 11:04

Yes, I keep forgetting they are listed on the main market. Surprises me every time I have to pay SD.

[cpap man] 08/12/2017 13:55

Good post Griffin81 but just one small point and that is UOG are fully [standard] listed on the LSE and therefore are not an AIM company!

[griffin81] 08/12/2017 12:52

The drop here is completely unjustified, although not unexpected for AIM. I'm just waiting for the share price to find its level before I add to my holding. I'm just hoping the timing works out, and I catch close to the low before next news is released. Flow rates aren't expected until next month, however it's clear from recent interviews Brian is busy working on other farm-in deals and I want to build my full stake before they are announced.The BOD is extremely impressive here, just wish they would stop referring to UOG as a start-up in interviews as it undersells the experience of the team and diminishes the incredible success they have achieved in a very short space of time.

[maverick247] 07/12/2017 10:19

Added another 65k upping my average crazy drop with what this company ha achieved in four months

[alamaison5] 06/12/2017 19:15

In the last 12 month it's actually from 2p to 5p, therefore a little more than 50% to my standard, lol.
Sorry!

[wiseacre] 06/12/2017 15:01

A lot of profit taking but that one has to expect after a 50% rise in share price over the past month. Still, prospect looks promising.

[cpap man] 06/12/2017 10:00

Subject: RE: United Oil & Gas Plc: Podere Maiar drilling results

Good Morning,

Please see the commentary below from our Oil and Gas analyst, Barney Gray, on the announcement from United Oil and Gas (UOG) on the Podere Maiar drilling results.

“We believe that this is a very positive announcement from UOG regarding the Podere Maiar well on the Selva field in Italy as the well was completed on budget and seemingly ahead of schedule.

The pay of 53 metres was as expected and hitting the top of the reservoir some 12 metres above any previous wells indicates that the operator hit the crest of the structure which is great. The logs indicate that there are two main intervals and a thick gas bearing reservoir.

The well will now be cased and completed, and downhole equipment targeted to be installed in time for flow testing in January to determine production rates.

We believe that this is a great result for UOG which is paying 40% for a 20% interest capped at $1.2m maximum exposure. All development costs are pro rata after that.

We believe that as Selva is now significantly derisked, future announcements may be positive.”

[ravin146] 06/12/2017 09:32

...CPAP MAN - 06 Dec 2017 - 09:20 - 23 of 23 - 0UOG headed up by the ex TULLOW OIL guys has the makings of becoming a serious MULTI BAGGER within a couple of years or so [say by 2020] with a share price of 100p

[ravin146] 06/12/2017 09:24

Looks like the twitter pump dumper have arrived

[cpap man] 06/12/2017 09:20

UOG headed up by the ex TULLOW OIL guys has the makings of becoming a serious MULTI BAGGER within a couple of years or so [say by 2020] with a share price of 100p+

[griffin81] 06/12/2017 08:42

Brilliant news. Validates the strategy of low risk, near term opportunities close to home alongside Big Bang opportunities further afield. Sets the baseline now for a great future.

[cpap man] 06/12/2017 08:20

Brian Larkin, United CEO, commented:



"We are very pleased with these initial well results, which confirm the significant potential in the Selva Field. We are looking forward to successfully completing the well operations, and commencing the rigless testing shortly. This is a great result for our shareholders and we look forward to progressing the licence with our joint venture partners. We will provide a further update when well testing completes".

[bobby1904] 06/12/2017 08:19

Me too. I totally agree. I participated in the 2.5p raise in the summer and still own all my shares. My first target is 10p....

[ravin146] 06/12/2017 08:16

Big news! Well done all

[maverick247] 06/12/2017 08:11

Agree and no issue with sellers taking profits i have an avg of 2.67 here and aint selling a single share

[bobby1904] 06/12/2017 08:08

.....mind you that was a better start today! I suspect it will bring a few sellers out though. I really do feel this has 10p written all over it in the next few months..

[pre] 06/12/2017 08:05

PXOG...result there too, super news:-)