United Oil & Gas Share Discussion Threads

[the manini] 12/10/2023 16:09

This post made me laugh! You suggest pretending that the deal is off whilst continuing to work on the deal behind closed doors and suggest that this strategy is a lot less smoke and mirrors...

[apotheki] 04/10/2023 10:20

Like many BODs we all know that you read these types of forums. Todays RNS is naive in the extreme demonstrating as they say in football terms "you don't know what you are doing!"

You should have stated that the deal is off for now but might be resurrected later if the purchaser can actually come up with the funds. In the meantime the deal is now open to others.

Then you could continue to deal with the existing party behind close doors whilst trying to attract some fresh interest.

Much more honest much more transparent [a lot less smoke and mirrors]

All of the above would be much more professional and AIMHO of course come across as a lot less desperate!

[1347] 04/10/2023 09:39

Remember the P2470 fiasco though, it went quiet and it was ages before they admitted they'd lost the licence and then it all got swept under the carpet.

[soulsauce] 04/10/2023 09:18

Basically Quattro is the only one on the hook so they have no option but to keep kicking the can. Larkin says there may need to be another extension after this one so you can guarantee there will be, so something he says will actually come to fruition, bravo!!
You are probably right 1347, it will time out.

[1347] 04/10/2023 08:49

This looks like a repeat of the P2480 Zeta fiasco where they can-kicked it so much they lost the licence before completion. Current Maria licence ends on 1st December 2023. Same company, same process, probably the same result so I don't expect this to happen.

It's the same with the Jamaica can-kick, only just starting commercial discussions with prefferred parner in Q4 2023 when the licence expires 31st January 2024? Yeah sure plenty of time to have sorted that out by now. Until they name who that (alleged) preferred partner is it's all just blarney to me.

Meanwhile UOG are looking at exiting 2023 with less than 1,000 BOEPD net and they can't even get the money out on that. Check how much they incurred in the last HY for foreign exchange costs, almost £0.5 million.

[soulsauce] 04/10/2023 07:31

Another extension lmao 🙄

[thirdtimelucky1] 30/9/2023 14:33

Hope you’ve taken advantage of low share price soulsauce and are still laughing when that deal comes in …
Cos I certainly will be 😁

[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