United Oil & Gas Share Discussion Threads

[soulsauce] 27/2/2024 09:12

And don't forget Selva 1347. That income would have been very valuable just now.

[1347] 27/2/2024 09:08

I've said it before and I'll say it again, if anyone was seriously interested in Jamaica they could just take out UOG for relative peanuts and send Teaboy on his way. The fact that Tullow let it go for the grand sum of £0.00 tells you all you need to know.

Just to remind everyone it's not just Egypt but Larkin messed up not one, not two, but all three North Sea Licences they acquired in the Licencing rounds, I note that Maria has gone now.

[soulsauce] 27/2/2024 08:56

Massive dilution and a massive discount to the already bombed out share price - what a moron and not an ounce of contrition!!

[1347] 27/2/2024 08:31

Makes no odds, UOG is a failed company, only Jamaica left now and it very much seems that no-one is interested in that. May still be liabilities/legal action from the Eygptian fiasco. UK assets went nowhere slowly. Many, if not most, of these placing shares will have been flipped to retail by forward selling them already (note the recent little mini spikes?). I'll still vote against all resoutions in the GM, it's time to call time on these AIM jam tomorrow companies fleecing shareholders with tales of pots of gold (or oil) at the end of rainbows to fund useless directors trying to play hot shot oil execs.

[spangle93] 27/2/2024 07:52

Well done Mr Larkin, a successful raise

A total of 500,000,000 New Ordinary Shares will be issued pursuant to the fundraising, representing 76.18 per cent of the Company's issued ordinary share capital.

Just the 76%, so not a total wipeout then.

I admire your confidence in buying £10k's worth, or 0.001% of the shares issued. Barely small change on the $300k pa salary and benefits you pay yourself for running a nano-company (which used to be a micro company before your transformational deal)

At least the fund raise means you can go on paying yourself while UOG relentlessly markets an asset to a world that doesn't want it.

[ozzywalker] 26/2/2024 20:07

Embarrassing

[soulsauce] 26/2/2024 19:14

Totally smashing the shareholder base for original investors.
Yes vote it down.

[quietlife] 26/2/2024 18:27

What a proper sh1t show this is

[soulsauce] 26/2/2024 18:18

Any self respecting Ceo would have stepped down thirdtimelucky.

[thirdtimelucky1] 26/2/2024 18:15

An ashtray on a motorcycle…

[soulsauce] 26/2/2024 17:58

He is having to consolidate the shares due to not having the authority to list such a large amount I would guess.
The tea boy couldn't even boil a kettle. What a failure.

[spangle93] 26/2/2024 17:49

Never mind KIN, Larkin would have a very short time on the show if he even made it through qualifying for the Apprentice.

"Brian, you had an exploration focused portfolio where the aim was to process data, improve the value of the asset, and flip it to buy more, thus growing market cap, like your previous company Tullow Oil.

So why did you considerably overpay for a producing asset that wasn't part of that strategy? How did you and your team fail to convert any of the assets your held to anything like their true value

As the leader of the team, you have to carry the can. You're fired"

[soulsauce] 26/2/2024 17:12

Yes just watching it now Apotheki, very good.

[soulsauce] 26/2/2024 17:08

About as much use as a chocolate teapot.

[apotheki] 26/2/2024 17:05

Reasons for the Placing and Use of proceeds

- Progress the Jamaican work programme commitment, which includes piston core surveying as part of technical studies expected to further derisk the high-graded Jamaican leads and prospects, estimated to have a potential unrisked mean prospective resource of 2.4 billion barrels.

- Administration costs associated with Jamaica farm-out process as the Company actively pursues the positive interest shown by a number of interested parties.

United Chief Executive Officer, Brian Larkin commented:

"As part of the extension to the Walton-Morant licence recently granted by the Jamaican Government, United committed to a programme of additional technical studies including piston core surveying and seismic reprocessing. The high-graded Jamaican leads and prospects are estimated to have a potential unrisked mean prospective resource of 2.4 billion barrels. The strategic decision to progress the initial part of the work programme, aims to provide the Company with a significant advantage as farm-out negotiations progress, maximising the terms of any potential agreement.

In Egypt we continue to close out in an orderly fashion and will satisfy the outstanding debt facility using the proceeds of the EGPC receivable position as it unwinds and will update the market accordingly in due course."

[therealdeal25] 16/2/2024 07:26

I’m just a numbers intelligence, telling people an RNS is out when people already know, do not take any advice form this plank! 🤣

Thinks he is now the official RNS announcer, can we put our requests in for you to message us when they are released? Clown😂ԍ15;🤣