United Oil & Gas Share Discussion Threads

[gregpeck7] 15/6/2021 15:04

I don't see uog through the prism of being undervalued anymore. Just waiting for Brian to raid his piggy bank again for some More free shares after a warrant dump on loyal holders. Just a shoddy tin pot way of going about things and the share price is paying the price. Behave like that and you lose trust. Brian has lost trust.

[king suarez] 15/6/2021 13:43

Quality post there PJ! ;)

[p_j_s1] 15/6/2021 13:35

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[myn0k] 15/6/2021 13:23

To my detriment, of course

[myn0k] 15/6/2021 13:06

Because I do believe the share is undervalued and should be far higher than it is. Alas, it's not where it's at.

[the chairman elect] 15/6/2021 12:33

Yet another out and out MALAKA

[gregpeck7] 15/6/2021 12:31

Jamaica will not get drilled. Have you seen bp latest statement. No drilling on new oil frontiers ever. Formal policy. Jamaica oil will be left in the ground.

[spawny100] 15/6/2021 11:38

I've never understood why people sit on shares underwater simply waiting for them to rise enough in order to exit mynok. If you have identified better prospects elsewhere why wait for UOG to rise? A case of a triumph of hope over experience?

[soulsauce] 15/6/2021 11:33

Indeed marunam, as if we didn't have enough problems with the constant churn of the shares.
Oh sorry, some want us to keep quiet about that as though it's not happening.

[marunam2] 15/6/2021 11:18

Agree Soulsauce,

The greedy grab in options on top of doubling the salary has put a right dampener on the share , afraid this is just another grab by greedy executives on aim, ref Rockhopper and countless others. Had they waited to deliver on their job description of getting a partner for Jamaica on good terms with POO at $70+ , then yes, enjoy the benefits and rewards, but they cut of this companies legs before it started to run.

I wont be surprised if this was repeated if they get a partner for Jamaica, further diluting holdings of PI's.

[gooner1886] 15/6/2021 11:01

Take a look at zphr

[myn0k] 15/6/2021 11:00

High enough for me to exit, to be honest. I made the mistake of topping up below 6p. Should've known better but you live and learn!My initial target was much higher than 6p but we shall see. The future of oil is sketchy at best. Before I'm labelled a deramper - just sharing my current view, which fyi does change depending on the situation.

[croxie] 15/6/2021 11:00

I am holding here but PRD has incredible offering for Co2 neutral O&G

[soulsauce] 15/6/2021 10:03

Yes we need a good win Myn0k, but how much that will raise the share price against the usual selling into news is anyone's guess.
This is still struggling to recover from the damage done by the home goal that was Warrant-Gate.

[myn0k] 15/6/2021 09:53

Lots of uncertain news about the oil industry in general and focus on carbon neutral, environmental friendly alternatives, probs also not helping. We need a good win for some movement, ASAP

[mikro1] 15/6/2021 00:08

Gregpeck - you say the 'only winner from the field is the Egyptian govt' but I would suggest the other winner is UOG and us (its shareholders) - who bought an asset for $16 million that is now netting us around $16 million a year in free cash flow. But sometimes it takes patience for the share price to reflect the winners. Buy right and sit tight.

[gregpeck7] 14/6/2021 22:23

Cash operating costs are rising I believe (think they are over 7 now)

Recent workover result was impressive but so was the decline, how fast do these wells decline?

UOG conceal this with only supplying the nice numbers, but are these wells declining at a very speedy rate? lots of workovers needed?

I don't know but I have zero trust in mgmt so thats why I left.

The broker note describes the PSC terms along the lines of "eye watering" and they are ..

The only real winner from the field is the Egyptian govt, probably why they declared commerciality so quickly as its in their interests to!

I have never seen a PSC where after costs the govt takes 70 percent of output..

[king suarez] 14/6/2021 17:51

Also, the cash operating costs were only $4.36/boe at last reported interim results.

Most oilers have costs of $20/boe or higher(?) - so although the govt gets most of the cut of production, you have to take the low costs into consideration too - this is the other side of the coin I don't see being talked about here?

[mikro1] 14/6/2021 17:42

Gregpeck - I believe in looking at what we have not what others have - I think investors don't need to be concerned with what the Egyptian govt gets, just with what UOG gets net of that. By my calcs we are getting net around 1400 bond which means that the market cap is cheap. That's without any progress in Jamaica or future production growth in Egypt - both of which are likely in the next 12 months.

[gregpeck7] 14/6/2021 16:33

I finished selling some time ago. Likewise bought Genel some time ago. So it's not me.

[mwap80] 14/6/2021 15:40

The seller today was probably you selling out to buy genl. GL but goodbye

[gregpeck7] 14/6/2021 12:05

Seller still hammering in. Prob realises Egypt govt take 70 percent of production! As the broker note says. Eye watering psc.

[mikro1] 11/6/2021 14:11

Monday then? meanwhile I have bought more..