United Oil & Gas Share Discussion Threads

[dorset64] 02/1/2018 11:52

Nice holding WR, may I ask your first buys or an addition?

[wiltshireram] 02/1/2018 11:42

I’ve bought over 1m today; they’re not yet showing on ADVFN

[dorset64] 02/1/2018 11:39

Thanks cpapman, strange how someone would vote down you welcoming me to this board/share, and also sleveen?

caters, for info of such things as that, you are better to ask those concerned ie. the company or the auditors etc.

[caters] 02/1/2018 11:36

cpap... have a look at Companies House website - it's quite easy to use.

I'm not being a troll. I'm pointing out some potentially relevant information.

[sleveen] 02/1/2018 11:22

I have also bought in this am, in anticipation of decent gas flow rates.

[cpap man] 02/1/2018 11:20

Are you trying to be helpful caters or are you just another TROLL?!?!?

If there was anything untoward UOG would have had to make an announcement [RNS]

The Moore Stephens situation was to do with SEN becoming UOG however the Crowe Clark Whitehill situation [if of course true?] has yet to be explained but due to the fact that there has NOT been an RNS it most probably [if of course true?] is totally and utterly NOT relevant!

Why not e-mail the UOG CEO Brian Larkin seeking clarification?

[cpap man] 02/1/2018 11:10

Welcome aboard the UOG express Dorset64!

[caters] 02/1/2018 10:55

Does anyone have any idea why the auditors, Moore Stephens, resigned with immediate effect on 18th July 2016? (This was before the company changed its name to United Oil and Gas Plc.)

The company was only formed on 5th June 2015 so it's not as if Moore Stephens were rotating off after, say, three or five years.

Odd.

See Companies House for filing details.

[caters] 02/1/2018 10:39

Does anyone have any idea why the auditors, Crowe Clark Whitehill, resigned with immediate effect on 11th December 2017?

[dorset64] 02/1/2018 10:23

Those 107k shares just gone through were my first buy into UOG and am now onboard. Interesting looking company with what appears to be some great prospects so will continue to do some more research and buy more over the next couple of weeks all being well.

[cpap man] 02/1/2018 10:11

HNY to all UOGers!

Skiboy10 - could you please provide a link [in the thread header] to all the UOG trades over at NEX?

Thanks!

[skiboy10] 20/12/2017 15:28

Looks good

[cpap man] 20/12/2017 13:25

United Oil & Gas Plc - Update



Hello Everyone,

Please find attached two announcements that we made this morning:

Oversubscribed placing

This morning, we announced a top-up placing of £1.25 million at a price of 4p. This was completed at virtually no discount to our current share price and is a great result. Since we listed the company on the 31st July, we have doubled the share price, drilled a successful well in Italy and added the high impact Jamaica licence to our portfolio. It is important to finance when we can and not we have to, so it made sense to do a small top-up placing now on the back of this year’s success. This placing of £1.25mil will strengthen the cash position on our balance sheet before year-end and ensure that the company is well financed moving into 2018. The funds raised will be used to advance further farm-in and acquisition opportunities along with contributing to our currently projected work programs.

It was also very pleasing to see the strong demand for our stock, which is a reflection of the company’s performance over the last two years. In addition, we were very well received in the city of London, and the placing was completed in less than a day.

Italian Well Update

This morning we also provided an update on our Italian well, Podere Maiar 1. We are very pleased to be able to announce that the well encountered 41 metres of net pay, with excellent reservoir quality, and encouraging reservoir pressures. This is a fantastic result and we now look forward to the rigless well-testing scheduled for January which will determine production flow rates. The rig has now completed and is currently demobilising to go off site. An update on the well testing results will be made when they become available.

Whilst we’ve had a great year, we are not resting on our laurels and we will continue to look for further opportunities to create value for our shareholders by adding to our existing portfolio.

I’d also like to take this opportunity to wish you all a very Happy Christmas and New Year and thank you all for your support during 2017. No doubt 2018 will be an equally exciting year for our company.

Regards

Brian Larkin
Chief Executive Officer
United Oil & Gas Plc
Phone: [phone]

www.uogplc.com

[cpap man] 20/12/2017 13:05

Subject: UOG PLC: Podere Maiar Update and Placing to raise £1.25 million

Good morning

Please see Barney Gray’s comments on UOG below on the back of Podere Maiar update.

“Another good announcement from UOG.

The Podere Maiar well on the Selva gas field is going to plan. The operator has perforated two reservoir levels which are now ready to flow gas in January when the well will be tested.

Both intervals have good and similar pressure readings so it looks like they can be co-produced if that is the plan. Porosity of 28% is high so the gas should flow easily.

Flow testing in January will hopefully demonstrate that this well can flow at up to 3.5 mmcfpd at a steady rate for years to come. Also, the flow testing will confirm the reserves potential of the Selva field which we have assumed to be 17 BCF. Any upside to these numbers will be positive for NPV.

The Placing will enable the company to fund testing activities with some to spare.”

[maverick247] 20/12/2017 08:08

Yes i took it and averaged up The funds are for the next deal as company were already funded for 2018 commitmentsWatch this space!

[cpap man] 20/12/2017 08:05

The UOG placing is all done and dusted alamaison5 having all gone into safe LTHs hands [mostly existing UOG investors standing their corner]

[cpap man] 20/12/2017 07:57

Prospex Oil & Gas (PXOG.L, 0.58p) – Speculative Buy

Prospex has announced the successful completion of the Podere Maiar 1d well onshore Italy. Two gas reservoirs have been intersected (C1 and C2) and a total of 11m have been perforated to balance flow rates and long term production potential. Of the two reservoirs C2 is judged to be the most significant.

Our view: More good news from Prospex. The well is on gas, completed for production, and we look forward to flow tests in January.

Beaufort Securities acts as a corporate broker to Prospex Oil and Gas plc

[cpap man] 20/12/2017 07:40

Griffin8120 Dec '17 - 07:34 - 41 of 42

I wonder if they have another deal about to be announced? UOG is clearly a company in a hurry to succeed. Interesting times.



Brian Larkin, CEO commented:

"We are extremely pleased to have completed this placing before the year end. The proceeds of this placing will be used to advance potential near-term acquisitions and farm-in opportunities and also ensures that our company has a solid cash platform to move our company forward in 2018.



This year has seen our company make significant developments; we added two more exciting licences to our portfolio, listed on the London Stock Exchange, completed two placings, enjoyed success in our first drilling campaign and delivered significant value for shareholders. We intend on continuing this momentum through 2018 and we look forward to updating shareholders."

[alamaison5] 20/12/2017 07:38

Good news on the results but who's gona buy into the placing?
Not me...

[cpap man] 20/12/2017 07:35

Aah ok here is the UOG RNS on the Po Valley update reference the Podere Maiar well



20th December 2017



United Oil & Gas Plc

Podere Maiar Update



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 the Podere Maiar 1 ("PM1") well on the Selva Gas Field in the Podere Gallina licence is to be flow tested next month, having been successfully cased for production.



The Company announces today that the PM1 well in Northern Italy (United Oil & Gas Plc 20%; Po Valley Energy 63% and operator; and Prospex Oil & Gas Plc 17%) has been successfully cased, perforated and completed. Perforations of a total of 11m were executed successfully on two identified gas reservoirs C1 and C2 in the Medium-Upper Pliocene sands of the Porto Garibaldi Fm. The well is now completed (single selective) for production and is "on gas". Rig demobilisation is underway and flow testing on a rigless basis is scheduled for early January 2018. Full flow test results will be reported at that time.



Log analysis including pressure testing has delineated two gas bearing reservoirs (C1 and C2) with a combined gross sand interval of 62m and a net pay of 41m. The thickest level C2 (net pay 25.5m) runs from 1282.5m MD (1251m TVDSS) to 1322.5m MD (1291.5m TVDSS) with a Gas Water Contact ("GWC") at 1310m MD (1279m TVDSS). It has a formation pressure of 138 bar, has been perforated over a combined 8.5m, and is expected to be the largest reservoir and producer. The shallower level C1 (net pay 15.5m), runs from 1253.5m MD (1222.5m TVDSS) to 1275.5m MD (1244.5m TVDSS) with a GWC at 1270.5m MD (1239.5m TVDSS). It has a formation pressure of 135 bar and has been perforated over 2.5m in the uppermost portion. Both sands have excellent reservoir properties, with porosities averaging over 28%.



United Oil & Gas Plc, Brian Larkin:



"United welcomes today's result, which further confirms the positive outcome of the Podere Maiar 1 well. We are very pleased with the net pay result of 41m of gas, which is in line with our pre-drill expectations. We look forward to rigless testing in January and we will further update our shareholders on the results at that stage"

[cpap man] 20/12/2017 07:30

However no RNS out yet on the Po Valley update reference the Podere Maiar well but there is an RNS from colleague company PXOG



Prospex Oil and Gas Plc ('Prospex' or the 'Company')
Successful Completion of Podere Maiar-1 well, onshore Italy



Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has been advised by Po Valley Energy Limited ('PVE'), the operator of the Podere Maiar-1d appraisal/redevelopment well ('Podere Maiar' or 'the Well') onshore Italy, that it has successfully cased, perforated and completed the Well and that flow testing is expected to commence in January 2018.



Prospex holds a 17% interest in the Well (PVE 63% Operator; United Oil & Gas Plc 20%), which is located on the Podere Gallina Exploration Permit ('Podere Gallina' or the 'Permit') in the Po Valley region, which is a proven hydrocarbon province. Podere Maiar was drilled into the Selva Gas-Field (previously operated by ENI), which historically produced 83Bcf of gas between 1960 and 1984.



Perforations over 11m have been executed successfully in two identified gas reservoirs, C1 and C2, in the Medium-Upper Pliocene sands of the Porto Garibaldi Fm. The perforations have been chosen based on established reservoir management practices and long-term production potential. The Well is now completed (single selective) for production, is "on gas" and flow testing will be on a rig-less basis.



Also recent log analysis, including data from pressure testing, has delineated the two gas bearing reservoirs with a total gross pay of 62m and a net pay of 41m. The shallower level C1's gross pay runs from 1,253.5m MD to 1,275.5m MD, has a net pay of 15.5m, a gas water contact ("GWC") at 1,270.5m MD and has been perforated over 2.5m in the uppermost portion. The deeper and thicker level C2's gross pay runs from 1,282.5m MD to 1,322.5m MD, has a net pay of 25.5m, a GWC at 1,310m MD and has been perforated over a combined 8.5m. The C2 reservoir is expected to be the larger reservoir and primary producer.



Prospex Non-Executive Chairman, Bill Smith, said, "With the completion of Podere Maiar on time and on budget, we look forward to flow testing the Well, which has two identified gas bearing reservoirs and significant net pay zones. The completion is a further positive for the Company, and underpins our investment strategy.

ETC....

[cpap man] 20/12/2017 07:28

Placing RNS out from UOG - UOG have raised £1.25M @ 4p so NO DISCOUNT to the bid price which is obviously excellent news!



Brian Larkin, CEO commented:

"We are extremely pleased to have completed this placing before the year end. The proceeds of this placing will be used to advance potential near-term acquisitions and farm-in opportunities and also ensures that our company has a solid cash platform to move our company forward in 2018.



This year has seen our company make significant developments; we added two more exciting licences to our portfolio, listed on the London Stock Exchange, completed two placings, enjoyed success in our first drilling campaign and delivered significant value for shareholders. We intend on continuing this momentum through 2018 and we look forward to updating shareholders."

[cpap man] 11/12/2017 10:00

Obviously UOG are not a typical AIM play [fully [standard] listed] but thanks x54v for posting the above with link