United Oil & Gas Share Discussion Threads

[oilbuy] 19/7/2024 10:49

Shard happy to TR1

[soulsauce] 19/7/2024 09:39

Yep cash, the tea boy has shown it is hard to make the step up from League 2 to the Premiership just because you once worked for a Premier League club.
He should have been shown the door and gone the same way as his colleagues that jumped ship.

[cashandcard] 19/7/2024 07:46

What a failure this has become. Nearly every asset they've touched has turned into an expensive money pit. Jamaica might have some potentia. But it's simply easier to wait for this one to go bust than deal with it while it struggles to limp along. Cash

[apotheki] 25/6/2024 11:50

3. To re-elect Graham Martin as a Director. DITTO

[apotheki] 25/6/2024 11:40

4. To re-elect Brian Larkin as a Director. NO THANK YOU

[soulsauce] 25/6/2024 11:38

Spangle 7124 brilliant 👏

[spangle93] 25/6/2024 10:12

Actually these are the resolutions for shareholders to consider. Answers by 12 August.
There's also a special resolution "Disapplication of statutory pre-emption rights."

1. To receive the Accounts.
2. To re-appoint KPMG as auditors of the Company and authorise the Directors to fix their remuneration.
3. To re-elect Graham Martin as a Director.
4. To re-elect Brian Larkin as a Director.
5. To re-elect Iman Hill as a Director.
6. To authorise the Directors to allot and issue shares and/or rights to subscribe for shares


Number 4 should be of interest to all shareholders....

[spangle93] 25/6/2024 10:09

Just seen some of the AGM issues requiring shareholder votes

1. To accept the annual accounts as stated (in Egyptian pesos)

2. To reappoint Ripoffe & Disappear as auditors

3. To donate any performance bonus arising in 2023 to charity out of embarrassment (withdrawn)

4. To allow the company to double the shares in issue for working capital purposes (payment of salaries)

5. To introduce Chocolate Hobnobs on Fridays


Anyone seen any more?

[soulsauce] 25/6/2024 08:35

"2023 was a transitional year for United" yep for all the wrong reasons. But he might be talking about his beloved ManU ;-))

And shareholders voted to let him go again. Master of disaster.

[apotheki] 25/6/2024 08:10

This guy should go on Fantasy Island....



Brian Larkin, CEO, commented:

"2023 was a transitional year for United, starting with the conditional sale of Quattro in January 2023 which ultimately was terminated in November 2023 due to the inability of Quattro to raise the funds to finalise the deal and the licence expiring at the end of November 2023.

Egypt delivered steady production throughout the year with several wells successfully drilled and brought into production. We maintained the record of zero LTI's, TRIR's and only a minor environmental incident.

Due to the declining economic situation in Egypt and the outbreak war in Gaza and the ongoing issues in repatriating USD dollars, the company made the strategic decision to divest from Egypt in late 2023. The company was in advanced discussions with the operator regarding the potential sale of our 22% interest in the Abu Sennan concession. However, the discussions were aborted with the operator following legal advice, notwithstanding attempts to agree a mutual acceptable sale and purchase agreement. In January 2024, we received a default notice for unpaid cashcall of $3.8m from the operator which we did not remedy. This has started a process which will lead to the Company withdrawing from the Abu Sennan Concession.

As we move into 2024, the company was granted a two-year extension to the Jamaican licence which extends it out to 31 January 2026. We appointed a Jamaican country manager in February 2024 to support the current work programme, further strengthening our team focused on Jamaica, Iman Hill was appointed as a consultant in April 2024 to support the progress of the Jamaican project and particularly the farmout of the licence.

The successful £1 million equity placing will allow the United to move with the farmout programme for Jamaica and advance the work programme.

At the start of April 2024, we were granted a five-year extension to the Waddock Cross licence in which we hold 26.25% interest, which allows us to move towards the preparation of drilling a well during 2025.

United is well placed to capitalise on emerging opportunities within the oil and gas market and advance our 2024 work programme aim at delivering long term value to our shareholders aligned with securing a farm out partner in Jamaica and potential acquisition of growth assets."

[cashandcard] 24/5/2024 09:13

The only game in town for small explorers right now, is Namibia/South-Africa or Southeast Asia. Regarding Namibia, the best listed stock (by miles) is Sintana Energy (TSX), minority (5 - 7.5%) stakeholders in several key licences with supermajor partners. Now derisked by the vast Mopane oilfield (minimum 10billion OIP) discovered in Jan 2024. But it has serious running room, and is carried through first few drills. The other one is ECO, same basin, but in the South African side, Total will drill their licence in 2025.The UK North Sea is now off limits until this silly windfall tax regime is removed. I don't have much hope once Labour get into power. They are likely going to make investment into the NS completely dry up.It's a good move to focus on Jamaica, but alot of work still to do. Comparisons with Stabroek? Very ambitious. I would consider this once they can get a partner to assist with exploration culminating in a drill programme.Cash

[spangle93] 24/5/2024 08:34

It's pretty clear the likelihood is, well, limited, because like BPC, the environmentalists would be all over UOG like a rash if anything ever looked like it would eventuate

[1347] 24/5/2024 08:32

Reminds me of that Bahamas Petroleum Company, also said they had a big resourcse out there and talking to majors (allegedly - they were never identified) they streched it out and dined out on it for ages, it never went anywhere. Looks like it will be the same story here, prove me wrong Teaboy.

[spangle93] 24/5/2024 07:56

Link to new presentation



Tea must have been strong last night, Walton-Morant is now another Stabroek waiting to be discovered

[spangle93] 23/5/2024 15:12

That brew is shortly going to get even more expensive. It's the high commission tea party this evening.

Taxi for 2 guests

[apotheki] 23/5/2024 14:11

Have to say that he makes a very expensive brew!

[thirdtimelucky1] 23/5/2024 13:29

Debt free!!
That can’t be a bad thing?
Worth celebrating… get another round of tea in there Larkin !

[1347] 23/5/2024 09:14

Well almost the end of the Egyptian debacle, $16 million I think it was Teaboy paid Rockhopper for that and came out of it with $839,200 debt, a masterpiece of shareholder value destruction. Every deal he's touched has ended up a fiasco.

Still Teaboy managed to keep his snout in the trough for over 3 years on that debacle. So now it's all about Jamaica and no-one is interested in that after all this time, just a rainbow. How long until what's left in the kitty runs out? Can't be long now surely.

[soulsauce] 23/5/2024 08:43

Exactly Apotheki.

[apotheki] 23/5/2024 08:25

Don't....please....it just hurts too much....as it is all about management....the quality or lack of....

[p@] 23/5/2024 08:23

Capricorn Energy PLC AGM Statement CNE +0.00%
RNS Regulatory News - Today @ 07:00
The significant efforts of the team over the past year have strengthened Capricorn's ability to effectively execute its strategy to create value for shareholders through maximising the efficient development of the Egyptian production and development base and realising the potential value of other held assets. Today the Company offers investors a clear and compelling investment proposition with a significant value opportunity underpinned by our Egypt portfolio.

[p@] 23/5/2024 08:19

So how much did they pay RKH for Abu Sennan ?

[citys2874] 21/5/2024 10:12

great day so far UOG and PHE BOTH BREAKING OUT....good start to the day