United Oil & Gas Share Discussion Threads

[soulsauce] 16/4/2021 15:54

9tintin I once saw it mentioned, but can't think for the life of me where it was on here or somewhere else, but a lot of the placing at 5p was taken up by some European consortium who were then disgruntled that things didn't play out as they thought and were annoyed at the several placings since well below 5p.
It could be these rinsing and repeating to spite the board maybe. Not saying it is happening and I will only get labelled a conspiracy theorist by the usuals, but it is as good theory as any.

[the manini] 16/4/2021 15:52

So hold on a minute, you've bought back in at a higher price than you was invested before but you're worrying that a disgruntled former exec has it in for the company and will be selling to keep the price so low as to warrant a attempted low ball hostile takeover. Can you please explain your reasoning for getting back in at a higher price if you belive the price will be driven down. Also with your supposed scenario of being taken out for a low offer that would take many months and would likely not succeed because the management know the value of the company as do all the long term shareholders so know one is going to let it go for peanuts. I don't see why you'd want your money tied up for a long period of time with the price going nowhere. Nothing about your post makes the least bit of sense to me.

[9tintin] 16/4/2021 15:01

Guys

Thanks for the kind comments, glad to be back on board.

The thing that has really baffled me and Soul has raised this time and time again, is all the news flow and back ground info since the deal completed has all been positive - and all the commentary and broker notes have supported the feeling of progress.

Yet there has been and still is a concerted plan to stymie the share price - now any rational and clever person with a chunk to move on would either let the share price move north in line with events and make a significant profit or do a deal with a broker to transfer their stake to an institution in one go and accept the lesser return but get clear and move on.

But no, the seller seems intent on holding UOG back in a way that almost looks vindictive, it certainly won't be for monetary reasons - as stated above.

A couple of years ago there was a similar case at AMER where a disgruntled very large shareholder who tried to get on the board of directors but failed, proceeded to sell down his holding over a long period to the point where, even with good drilling news and profits the share price retraced to such a level it was gobbled up by a predator for a song and shareholders were sold out by the management.

This feels similar and I'm wondering if BL has upset someone on the way up to getting CEO of UOG - wouldn't be the first time that's happened in this business.

I would not be surprised if T/O were in the wind - the fundamentals are simply too good for a company who will be producing nearly 5000 boe in the near future to be languishing at a Mkt Cap £32M.

As yet the 'deal' has not seen the transformation that was trumpeted at every opportunity by Brian - just hope he gets to realise his dream, but we should all remember what happened to Tullow !!

tintin

[parob] 16/4/2021 14:35

Chart is looking good for the next leg up following a month of consolidation.Think the next move could surprise a few.

[myn0k] 16/4/2021 14:28

In all honesty I don't think the seller will ever finish. They seem to be rinsing and repeating. That doesn't mean we can't ride them out though IMO, and eventually MMs will see sense

[bozzawozza] 16/4/2021 14:16

Possibly drill test results next week as it's been 2 weeks since it was announced

[parob] 16/4/2021 14:04

We haven't moved after the material upgrade RNS. Something has to give soon.

[bozzawozza] 16/4/2021 14:00

Hope you're right

[parob] 16/4/2021 13:53

I think we are in for onehellofamove once the seller finally finishes.

[gooner1886] 16/4/2021 10:56

Welcome back tin tin, good post bud.

[soulsauce] 16/4/2021 10:50

Good to see you back 9tintin ;-)

[9tintin] 16/4/2021 10:27

I originally bought into UOG back in April '18 and topped up to a not (for me) insignificant holding, some of my stash were bought at 5.22p - we are below that now!

After the transformational deal and subsequent placing at 3p - I became frustrated by the lack of response in terms of the share price - all the good news was being sold into in a way that screamed " manipulation" the seller was relentless.

My patience was exhausted and after the Abu Sennan drilling resumption and good results I sold up with a profit, to invest in pharma.

After much soul(ha ha) searching I have bought back in slightly above what I sold at, in the belief that the story is better than ever - the drilling results and reserves up grade suggesting UOG are grossly undervalued.

I find 5p something of a puzzle though and does seem to indicate a lack of confidence by the market that the 'deal' is as good as it looks (to me).

Soul has called this right all along and proved his conviction by staying with it far longer than a good many - including me!!

I'm just hoping that the story will come good now that the drilling campaign has sprung to life - but as intimated above the share price still languishes below where it was nearly three years ago.

As I said I'm back in, in the knowledge that production and value will out in the end - just hope I can stay the course this time.

tintin

[soulsauce] 16/4/2021 09:36

You should have been here in the high 2's, low 3's Gooner. Good RNS after good RNS met with rashes of sells in very obvious pulses.
Still you can't make everyone believe but as long as the general move is north, eventually, then we have to be happy with that.

[gooner1886] 16/4/2021 09:16

Hopefully we can crack on, but i too believe this is being kept down, theres a reason after them last 2 rns's that it hasnt moved an inch

[croxie] 16/4/2021 09:11

Thanks Spangle - I'm just trying to get a feel of the gross profit from production

[soulsauce] 16/4/2021 09:00

Tunley when you say conspiracy theorist do you mean 'right' about the last placing that sent an uber bull back over from his no idiots thread to apologise and now calls the two 'boy wonders' from a pig to a dog.
I wonder what is causing the fall back now - hmmmm :-/
It's funny how you get labelled for being right, doomster, conspiracy theorist, dreramper.
I was stupid enough to call juju out on the Ecr thread with a similar label just before the CEO took everyone's trousers down with a discounted placing even though they had 3.8m in the tank.

[tunley] 16/4/2021 08:54

Soulsauce - you are grannyboy are right bloody conspiracy theorists in the Reabold boards...

[spangle93] 16/4/2021 08:51

Croxie -ref 4676

Sorry to be blunt, but that's nowhere near correct.

First, they quote production in barrels of oil equivalent per day, not barrels of oil per day, because a signficant fraction of the production is gas. It's convenient to convert to an oil equivalent to round numbers up, but the "equivalence" is in calorific value, not economic value. A BOE of gas is not as valuable as a barrel of oil.

Second they don't get Brent price for oil production. You have to subtract a quality discount, though this is currently only $1.70/bbl

And most important, they aren't entitled to much of the production. Unlike the North Sea, production is licenced through a production sharing agreement (PSA) where partners (termed contractors) get part of the cost back but don't get all the sales revenue. If you download the Gaffney Cline reserves report, section 7.1 provides the calculations for the PSA under which Abu Sennan operates.

Likewise, if you look at the report, you'll see that that UOG's "net entitlement" to the "reserves" is lower than those quoted in the recent RNS

Sorry, it's typed in haste but hope this makes some sense. Really recommend reading the report

[soulsauce] 16/4/2021 08:45

Of course it wants to cpap, it is undervalued but it's not allowed - yet.

I am not a doomster, I am bullish on UOG, I just question the very obvious trading patterns here and these boards are for discussing everything, surely.
It's amazing how many new investors, especially on the lse start to question the selling after a short time of being here.

I don't call you a ramper do I for posting the same thing over several different sites.

[the chairman elect] 16/4/2021 08:35

Actually Gooner1886 if for example you were to look very closely at all of the trades from yesterday you will note that there is more demand than supply for UOG shares.

Despite all the doomsters [especially you know who] UOG is looking as though it wants to continue on it's extremely bullish run.

[gooner1886] 16/4/2021 08:31

Can sell 700k again in one hit, theres demand but no doubt seller pop up later lol

[gregpeck7] 16/4/2021 07:45

https://twitter.com/01l_m8nd8r1n/status/1382794000218882051?s=21Some of the new cenkos note contained here.

[gregpeck7] 16/4/2021 07:44

Except they are producing 3200 at the moment.

[parob] 16/4/2021 06:59

Oil price rising again.

[croxie] 16/4/2021 06:50

Thanks Micro - so the simple maths are as follows:2,500 bopd * 365 * ($60 pb - $5 cost) = $50m * 50% = $25m gross profit on production? Sounds about right?