United Oil & Gas Share Discussion Threads

[parob] 26/2/2021 12:24

Quick search on new 3% TR1 holder:OverviewMR WILLIAM SAMUEL CLIVE RICHARDS is a Venture Capitalist And Entrepreneur from Hereford Herefordshire

[spangle93] 26/2/2021 11:38

If they have 35 targets, and it's such fantastic economics, why are they only drilling 3 wells a year? Why wouldn't you bring in a second rig?

[90005nelson] 26/2/2021 10:35

What's Jamaica worth 10 or 11p to the broker note? We have 3 working wells with over 30 target drills. If you stick around long enough we're quite likely to have six times more wells. IMO

[soulsauce] 26/2/2021 10:22

Well not really as the biggest chunk of that broker valuation is for Jamaica and until we get a partner for that with deep pockets (possibly Q4) much of that will go unrealised.
That said, due to the chicanery that has gone on with trading over the last year against a huge upswing in production, this still remains undervalued.

[vespasianthesubguest] 26/2/2021 10:09

"value share buyers will drive this up towards the broker target of 28p" if you're right, we're all sorted!

[someuwin] 26/2/2021 09:50

Looks likely that the forced closing of IG positions has held this back a bit. They'll soon be gone and value share buyers will drive this up towards the broker target of 28p.

[bozzawozza] 26/2/2021 09:44

Lol. If I sold my entire holding no one would blink an eye. I hold a lot for me but in the grand scheme of things it's not that much. And I only have one mate in this and he topped up yesterday.

[homebrewruss] 26/2/2021 09:40

UOG is one of the shares going 100% margin at IG today and then will be removed from spread betting in 30 days I think.

[mustbefunny] 26/2/2021 09:39

Do we know that IG are closing UOG? I've tried buying UOG there for about 3 months but it was closing only

[valhalla3] 26/2/2021 09:31

It'll be bozza the secret seller keeping this down for his mates.

[dandadandan] 26/2/2021 09:22

Are IG clearing those spreadbets? Last day was 26th Feb.

DDDD.

[parob] 26/2/2021 09:14

Hopefully see a higher low going in at 4p.

[dandadandan] 26/2/2021 09:13

Added a few yesterday at end of day and again today and no sign of the trades.
Someone is storing these up somewhere.
Last trade was for 170,000.

Mcap still going lower. This market is being controlled tightly.
Crazy activity.

DDDD.

[thegreatgeraldo] 25/2/2021 20:38

Maybe SDX get a slightly better price due to their gas being closer to market? They're oop north on the Nile delta

[swanvesta] 25/2/2021 20:23

"I assume there is no additional gas opex beyond the cost indicated by the company for the oil? And no tariff for transportation outside the field?"

I've used opex/boe from 1H20. There is stuff I wasn't able to resolve exactly but my assumptions are back tested to 1H20. Hopefully 2020 AR will give more detail.

[swanvesta] 25/2/2021 20:06

" Do you/we know the price received for gas?"

I'm using $2.61/mscf - got that from the 1H20 results, so may have improved.

[neo26] 25/2/2021 19:54

When will they spud ASD-1X well? The rns just says the rig will move there..

[thegreatgeraldo] 25/2/2021 18:53

SDX get $2.85mcf for their Egyptian gas..... (from memory!)

(edited with correct price)

[spangle93] 25/2/2021 18:51

Swanvesta, nice summary!

Do you/we know the price received for gas?

Brian rolls everything production-wise up into BOE - depending on your cynicism this is to help posters such as 4179, or to make it look better, for reasons you allude to.

I assume there is no additional gas opex beyond the cost indicated by the company for the oil? And no tariff for transportation outside the field?

[swanvesta] 25/2/2021 18:16

The partners share a maximum of 42.5% of revenue, but that assumes maximum cost recovery from EGPC and I've found the actual number seems a little lower. I use 38%. Fortunately opex is only $4-5/boe and so is sunk capex (DD&A). Also you need to consider the (much) lower price of gas which makes up around 20% of the total boe @ $65 Brent they're getting maybe $55/boe.

So the gross profit @ 3000 boepd is:
3000 * ($55 * 38% - $9 costs) => approx $36k/d
365 * $36k = $13m pa

You also have to subtract interest ($1m pa?) and G&A ($1.5m pa) to get the net profit, which could still be over $10m in 2021. This doesn't seem too shabby for a growing business. Cashflow will be lower due to the capex program in Egypt and elsewhere, and also the loan capital has to be repaid.

I try to be conservative, as I've found the actual numbers always disappoint otherwise. And please note the 2020 figures due in April won't be anywhere near this good, maybe $1-2m depending how much they reverse the BP derivative gain.

[thegreatgeraldo] 25/2/2021 17:26

Working Interest....... I won't mention it again!

[dandadandan] 25/2/2021 17:00

£26m Mcap with 3200bopd plus more on the way.
The trades are also delayed and some are being hidden ( + then a -)

Looks like 'skulduggery' or possibly being held for a ' mates rates deal'?

Some saying IG Spreadbets need to be realigned by 26th Feb.

Something is not adding up.

Roll on next week.

DDDD.

[4053777] 25/2/2021 15:45

Be very careful Aim is ruthless!

[vespasianthesubguest] 25/2/2021 15:34

I am in my first year of investing and i'm still impulse buying on sentiment and skipping DD, I know where i need to improve! lol. Bought into this yesterday on news and sentiment. Made money on Premier and Tullows oil's crash rebound last year, and later Jersey oil and gas. Now this hopefully. There's some good contributors here to glean info from. Need to brush up on exploration/drilling terms and factors etc. There seem to be more positive signs than negative though.

[neo26] 25/2/2021 15:23

thanks glennborthwick..

thegreatgeraldo why is that?