United Oil & Gas Share Discussion Threads

[soulsauce] 29/9/2023 21:38

You guys do make me laugh 😉

[thirdtimelucky1] 29/9/2023 13:22

5/6 million wouldn’t be a bad start!
Could there be such a thing as a cash payment upfront as well as a free carry or does that happen in these type of deals?

Thanks
Tasty

[tasty1] 29/9/2023 10:13

hxxp://envoi.co.uk/wp-content/uploads/2023/04/UOG%20Walton%20Morant%20Update%20Flyer%20April%202023.pdf

[tasty1] 29/9/2023 10:07

Jamaica back costs total 34 mill dollars spent 5/6 mill uog

[soulsauce] 28/9/2023 18:38

No, I would doubt it as we haven't spent very much on it ourselves, unless they can claim some of Tullows initial spend.

[thirdtimelucky1] 28/9/2023 18:31

You mention back costs Soulsauce now that will be very interesting…
Would back costs amount to enough to initiate a possible new venture ? 🤔

[soulsauce] 28/9/2023 18:16

We'll see thirdtimelucky.
We aren't exactly holding any aces so what is best for shareholders might not be what we hope IF they can manage to cobble a deal together and judging by past/current experience around Quattro it's still highly unlikely imo.
But as I have said on several occasions I hope you are right and I am wrong.
Atb.

[thirdtimelucky1] 28/9/2023 18:01

I won’t speculate or make up anything,I do believe they’ll get us the best possible deal.

Not dreaming but keeping faith and they’ve basically spelt it out for us …. It’s going to happen! Don’t keep resisting it as you’re going to be proven wrong.

[soulsauce] 28/9/2023 16:26

thirdtimelucky keep dreaming and being spoon fed the line.
Out of interest what are you expecting. Giving away how much and a free carry, back costs etc?

Expecting to move to commercial discussions is still a long way from a commitment to a JV.

The market obviously doesn't believe it will happen either 🤔

[spangle93] 28/9/2023 16:06

TTL - I've attended these sessions in the past. If you submit any question that has any hint of implied criticism, he just ignores it. So yes, as it happened, I did have a more productive use of my time.

[tomboyb] 28/9/2023 16:04

someone offloading stock here - ?

3million available at 0.89 -

[thirdtimelucky1] 28/9/2023 15:49

Soulsauce a gentle reminder, you did say you’d apologise if deal happens in Jamaica. Well it’s gonna happen and soon 😁

[soulsauce] 28/9/2023 14:47

Well judging by the share price reaction the company knocked it out of the park again with the webinar 🙄.
You can fool some of the people some of the time..........

[thirdtimelucky1] 28/9/2023 10:11

Ask him yourself Spangle or have you also better things to do with your time…. Like post on here instead 🤔😂😂

[soulsauce] 28/9/2023 09:46

Yes indeed Spangle putting 'greater' in there leads to the suggestion that there has been some shareholder value 😆😆😆

[spangle93] 28/9/2023 09:36

Can someone who attends please submit ask the question

"In the light of the continuous decline in share price since January 2018, please could the board define "delivery of greater value to shareholders"

[apotheki] 28/9/2023 09:13

Events today

Management is hosting a shareholder call at 1100 BST today. Investors that wish to participate in the event, please click on this link to register [...]

Confirmation email with the details of the dialling in process will be sent to your email address.

Please note: all requests for any teas must be in with TB by 10.00 BST today at the very latest!

A presentation will be available today on www.uogplc.com

[soulsauce] 28/9/2023 09:06

I have more important things to do. I have listened to them in the past and can't listen to anymore of that fanciful drivel.

[apotheki] 28/9/2023 08:59

As Spangle93 posted soulsauce get on that UOG Investor Conference Call and give the tea boy as you call him a piece of your mind!

[soulsauce] 28/9/2023 08:56

You mean the debt they have taken years longer to pay off and still isn't paid, yeah great.
At the end of the day the company paid 16m for an apparent 'transformational' asset in Egypt, which will be well over 16m with the debt facility and now the company with everything thrown in is worth 6m.
I rest my case.

[apotheki] 28/9/2023 08:52

"I would like to extend the Company's gratitude to United's former Chief Operating Officer, Jonathan Leather, for his dedicated eight years of service with United. While he embarks on new endeavours outside our company, we are excited to continue building upon the foundation of SUCCESS [lol not according to the share price!] we've achieved together. Jonathan will continue to provide support to the Company on the Jamaican farm out process on a consultancy basis."

[apotheki] 28/9/2023 08:48

But debt is also down soulsauce! Look there are quite a few potential positives in this mornings RNS which I was not expecting looking at the recent share price performance but like many others no doubt have to agree that the performance of the BODs has been woeful in recent times. They need to get a grip and fast or they will be gone!

[soulsauce] 28/9/2023 08:44

'expect' to commence commercial discussions lol, nice word play.

0.6m cash another excellent 6mths in Egypt.

[apotheki] 28/9/2023 08:30

Outlook

-- In Egypt we look forward to drilling the ASD-S-1X near-field exploration well, which we expect to spud in October. This is an exciting exploration well located to the south of the prolific ASD Field. The well is targeting an estimated gross in-place mean volume of 10.1 million barrels of oil in multiple stacked reservoir targets across the productive Abu Roash and Bahariya reservoirs.

-- The ASD-S-1X exploration well will be followed by additional development drilling on the Abu Sennan concession - likely targeting an undrained crestal area that has been identified on the ASH Field.

-- In Jamaica, we continue discussions with high-quality potential partners and expect to COMMENCE COMMERCIAL DISCUSSIONS with a preferred party over the coming weeks. We will provide further updates to the markets in due course.

-- In the UK, we are looking to complete the transaction with Quattro on the P2519 licence containing the Maria discovery.

[thirdtimelucky1] 28/9/2023 08:28

Get your facts right Goon!

First time they’ve stated Commercial discussions