United Oil & Gas Share Discussion Threads

[fbrj] 25/5/2018 12:06

Thanks for that cpap.

I initially bought into these a little too enthusiastically during the February spike but have been quietly averaging down since and my b/e is now exactly 5p. Nearly there now on the bid (4.80p)!

Looks an interesting investment with a nicely diversified portfolio - both geographically and risk/reward wise.

[cpap man] 25/5/2018 10:15

United Oil & Gas Plc - Updated Research Note



Hello Everyone,

Following on from yesterday’s announcement of our new license award, which contains the Crown discovery, please find attached a research note prepared by independent research analyst, Barney Gray.

Key points to note on our new Crown license:

On a gross basis, Barney Gray believes that a single well development and subsequent subsea tie back to local infrastructure for a 9.0 mmbbls accumulation could be worth up to $111m on a gross basis.

As such, his core valuation for our shares is increased from 13.5p to 15.7p per share on a fully diluted basis. Although this does not yet include any value related to the acquisition of Crown, United is currently exposed to very exciting upside from its suite of UK assets including the expected drilling of Colter in Q4.

Consequently, Barney will endeavour to augment our core valuation upon additional substantive news flow over the coming months.

Thank you all for your continued support.

Regards

Brian Larkin
Chief Executive Officer
United Oil & Gas Plc



www.uogplc.com

[skiboy10] 24/5/2018 16:29

OT

This new IPO looks very interesting - Kavango resources

[cpap man] 24/5/2018 15:45

"United Oil & Gas lands Crown discovery in UK licensing round"



Full article - www.proactiveinvestors.co.uk

[cpap man] 24/5/2018 15:40

PROACTIVE INVESTORS



"United Oil & Gas has revealed that it has landed two new exploration areas in the North Sea. It was provisionally awarded two new blocks in the UK Government’s 30th offshore licensing round.

The new acreage already contains the Crown oil discovery which was found by a ConnocoPhilips well in 1998, and, has been estimated to contain 4-16mln barrels of oil, with the mid-case presently pitched at around 9mln barrels."

[bobby1904] 24/5/2018 14:55

Much more likely to Farm It out given % ownership. Never say never but I'd be amazed if they look to fund this work with a placing at this stage

[soulsauce] 24/5/2018 08:29

Who cares sleveen these guys add value unlike your very own AAU 😉

[sleveen] 24/5/2018 07:52

Another funding due soon then?

[griffin81] 24/5/2018 07:36

Yes it is, the perfect mix of balanced risk and short and longer term horizons.

[soulsauce] 24/5/2018 07:18

All coming together nicely. More assets still to be added by the wording in the RNS. Happy days 😊

[pauliewonder] 24/5/2018 07:16

Another very positive development for UOG. Great to add another potential 16m boo to the value book, especially where poo is $80.

[croasdalelfc] 23/5/2018 13:20

Colter cost increase RNS by BOIL

[croasdalelfc] 23/5/2018 09:42

https://www.ogauthority.co.uk/media/4881/30th-round-table-of-potential-awards-by-block-may-2018.pdfReprocess 3D with Swift

[dorset64] 22/5/2018 09:15

Still great to be in early stage in a company that has everything going for it, with plenty going on to keep us informed, with great contacts of past employers of whom are now partners, and such a quiet forum, whats not to like.

[pauliewonder] 22/5/2018 09:01

Looks like we have turned the corner from the placing. Higher lows, and soon should see higher highs

[soulsauce] 22/5/2018 08:54

Going strong again today, so much under the radar but excellent prospects.

[maverick247] 21/5/2018 15:02

Not surprising still at bargain lows for whats in the portfolio and coming for the remainder of the year

[cpap man] 21/5/2018 14:50

Whoosh!

Social media active in relation to UOG as it would appear that 2018 is going to be even busier for UOG than last year!

[soulsauce] 18/5/2018 08:19

Excellent post Spangle.

Another 15k for me.

[spangle93] 17/5/2018 23:14

BPC = Bit of a binary/coin toss though, right. What's left if the major decides to walk away?

UOG not only has proven management, it's involved in lower risk appraisal/development onshore in UK and Italy, medium risk/reward in Colter and Wick, and has the cherry of Jamaica where there's an experienced proven E&P company driving the work, and good synergy between the partners. Plus the hint of further assets being simmered.

[tidy 2] 17/5/2018 16:17

Gents you are missing a trick if BPC is off your radar. Bahamas upside 28bn barrels and Major on board paying for exclusivity

[cpap man] 17/5/2018 15:40

United Oil & Gas Plc - Update




Hello Everyone,

Earlier this week, we announced the completion of a 2,250 sq km 3D seismic acquisition survey over the Walton-Morant licence, offshore Jamaica, which includes the high-graded Colibri target. United holds a 20% equity interest in the 32,065 sq km Walton-Morant licence, with the remainder held by the operator, Tullow Oil plc, the leading independent oil and gas exploration and production company. A copy of the announcement is attached.

Key points to note in this morning’s announcement:

First ever 3D seismic survey in Jamaica completed over Walton-Morant licence, ahead of schedule

Focused on de-risking multiple structures to drill-ready status including Colibri, a high grade target estimated to hold gross mean prospective resources of over 200mmbbls

Fast-tracked data expected mid-June 2018 with the final data-sets due later in the year

The technical case for Colibri is further strengthened by the recent identification of an active thermogenically derived offshore oil seep to the south of the structure.

The Company expects to receive a fast-tracked version of the data by mid-June 2018 with the final processed data-sets due to be available later in the year. Subject to the results, an exploration well could be drilled in 2020, with success significantly de-risking numerous follow-up structures that have already been identified across the Licence.

In addition, we were very pleased to announce that the Colter Joint Venture partnership signed a letter of intent to secure an Ensco jack-up rig to drill the Colter well in Q3/Q4 this year. The Colter discovery is adjacent to the largest onshore oil field in Europe, Wytch Farm, which has produced in excess of 450 million barrels of oil. Colter was originally drilled by offshore well 98/11-3 in 1986 which recovered oil on test from a 10.5 metres oil column within the Triassic Sherwood Sandstone, the main reservoir at Wytch Farm. More recently, merged and reprocessed 3D seismic data has indicated potential up-dip of the discovery well. The target is in shallow water, which enables the use of an offshore jack-up rig, keeping costs to a minimum. A copy of this announcement is also attached.

This is an exciting period for United and I look forward to providing further updates on our progress, including our M&A activity.

Thank you again for all your support.

Kind regards

Brian Larkin
Chief Executive Officer
United Oil & Gas Plc
Phone: [phone]

www.uogplc.com

[soulsauce] 15/5/2018 07:45

Very interesting last paragraph.

[spangle93] 15/5/2018 07:39

Q3, then

It'll give the kids something to watch in the school holidays

[cpap man] 15/5/2018 07:30

United Oil & Gas PLC / Index: LSE / Epic: UOG / Sector: Oil & Gas



15th May 2018



Letter of Intent Signed for Provision of Rig to Drill Colter Well





United Oil & Gas Plc (United or The Company), the London Stock Exchange listed oil and gas exploration and development company, is pleased to note the announcement made today by Corallian Energy Limited ("Corallian Energy"), our partner in and operator of licence P1918 (UKCS Block 98/11a), that it has entered into a Letter of Intent with UK drilling company Ensco U.K. for the provision of a jack-up rig to drill the Colter Well. Outlined in the Letter of Intent the parties have agreed, subject to approvals and consents, headline terms for a suitable unit to conduct drilling operations in Q3/4 2018.

The Colter discovery is adjacent to the largest onshore oil field in Europe, Wytch Farm, which has produced in excess of 450 million barrels of oil. Colter was originally drilled by offshore well 98/11-3 in 1986 which recovered oil on test from a 10.5 metres oil column within the Triassic Sherwood Sandstone, the main reservoir at Wytch Farm. More recently, merged and reprocessed 3D seismic data has indicated potential up-dip of the discovery well. The target is in shallow water, which enables the use of an offshore jack-up rig, keeping costs to a minimum. United estimates the Company's share of drilling costs to be under £1m.





Brian Larkin, CEO United Oil and Gas:



"We are delighted to see continuing progress on this exciting licence. The Colter Well will be drilled up-dip of an existing discovery in an established oil region. The addition of an excellent drilling partner, Ensco UK, will further strengthen our chances of success."



"This well is consistent with United's strategy of targeting near-term, low-risk development opportunities in Europe whilst utilising the industry experience of our management team to pursue higher-risk, high-impact opportunities in Africa and South America."