United Oil & Gas Share Discussion Threads

[ileeman] 18/9/2018 09:11

Its not a view it is a fact and I can see people want to ignore the warrant factor which is fair enough.

[bobby1904] 18/9/2018 09:08

You are entitled to that view. It's a free world (mostly)!! But I participated a substantial sum and I can say hand on heart that this was not my rationale! It's not easy picking up large stakes in these growing companies unless you do it via placings. I've also participated in every other placing they've done so far. Met Brian a few times. I have a very positive long term view here & for me the Warrants are a bonus but definitely not the driver of this deal. In any event if the Warrants are to become of any decent value it means the share price being at least 10p/12p minimum, and that must be good news for all shareholders!

[soulsauce] 18/9/2018 09:05

iLeeman do you not read good?

Much better issuing 100s of millions of shares of fractions of a pence every couple of months at RBD eh ;-)

[ileeman] 18/9/2018 09:02

Positive placing bobby but lets be real.

Great price but they would not have got it without the warrants, lets not pretend anything different.

3 warrants for every 4 is a huge amount of extra shares and well above the normal warrant deals.

[bobby1904] 18/9/2018 08:54

..sorry typo! "Kick" should read "lock"

[bobby1904] 18/9/2018 08:53

Not true. What actually happened was co. was approached by a 'strategic' sector focused investor offering a substantial seven figure sum. They are taking long term view & love the story so far. They were prepared to pay premium which at the time of the approach was quite a decent %. Other investors were then approached & so much interest that became major over subscribed. Warrants are a benefit but 12 months off and at substantial premium to today's share price so really not a driver to the deal at current date. Participants have agreed a 'gentlemans' 6 month kick in too. Cash is mainly for new deals also, so value adding reasons not just working cap. Overall very efficient & positive placing...

[cpap man] 18/9/2018 08:31

Stockdale Securities an interesting development for UOG as well

The start of some real INSITUTIONAL interest in UOG?!?!?

[cpap man] 18/9/2018 08:25

Sorry iLeeman do not agree in the big picture [total number of shares outstanding v warrants] it is just not an issue

[ileeman] 18/9/2018 08:16

Very true, some nice clauses on the warrants.

But no denying that is a lot of warrants and what enticed retail money to pay market price.

[bobby1904] 18/9/2018 07:57

Not really correct as Warrants we're after thought actually. Also the exercise price is 8p & can't be exercised for 12months! If they do get exercised then means share price has grown very nicely!

[spangle93] 18/9/2018 07:52

thanks Bobby1904 - good insight

[ileeman] 18/9/2018 07:52

Good raise but dont forget 3 warrants for every 4 shares, that is how they got the price away. That is a lot of warrants.

But fair play to the BOD for doing that rather than a discount. Seems they have some market know how about them.

[bobby1904] 18/9/2018 07:50

This was a very positive raise. I'm participating in it. Was double over subscribed! Only came out a week or so ago & at that time was at 10% premium to the share price It includes over £1m from a single strategic investor. Only gone to long term holders so very tight group. All based on further new deals & value adding for shareholders.

[griffin81] 18/9/2018 07:43

Highly impressed with this raise. Provides support at this level, and clearly investors didn't participate at a premium to the market rate without a compelling reason. When the deal is announced I'm sure we will see why.

[maverick247] 18/9/2018 07:39

Was a premium placing too when the deal was marketed share price was around 5pThats how you do a raise

[soulsauce] 18/9/2018 07:36

From the recent proactive podcast on you tube.

'why would we raise more equity when we feel the share price should rerate'
'the only reason we will raise is if we have a WHOPPER of a deal that will rerate the share price immediately'

Watch this space I think.

[pauliewonder] 18/9/2018 07:25

Had a lot of placing before and have to admit this is one of the best executed. Continually impressed with management

[billyboychrisd] 18/9/2018 07:21

Absolutely, I always see a raising at current levels as a positive RNS. Sounds like uog has got funders waiting in line for the opportunity to find their work and willing to pay a fair rate.

[soulsauce] 18/9/2018 07:17

Yes actually slightly above the bid.

And they said they would not raise unless they needed the money for something they had seen that they could not turn down.

Could be an interesting few weeks. Hopefully Justin will get them on Vox.

[mr.oz] 18/9/2018 07:16

Cracking team here

[pauliewonder] 18/9/2018 07:07

Pretty impressive they have done an oversubscribed placing at current value. Shows confidence. May be blue today.

[spangle93] 17/9/2018 12:39

Thanks Gizmo.

Gee, mid-2020, I'd hope for about a year before that. :-(

[gizmo] 17/9/2018 08:51

2018 has seen significant news flow from the Podere Gallina Permit in Italy, which contains the Selva Gas field that historically produced 83Bcf of gas between 1960 and 1984 and in which Prospex holds a 17% interest. Attention at the project is currently centred on the Podere Maiar-1d appraisal/redevelopment well, which was confirmed to have made a significant gas discovery following flow testing in January 2018. Peak flow rates of 148,136 scm/day (5.2mmscf/d) and 129,658 scm/day (4.6 mmscf/d) on a 3/8 inch choke were achieved respectively from two gas-bearing reservoirs, C1 and C2, greatly exceeding expectations.A production concession application has since been submitted to the Italian Ministry in May 2018 to develop a high return gas field covering 80.8km(2) at Selva, with first phase production targeted to commence in Q1/Q2 2020 at a rate of up to 150,000 cubic metres (5.3 mmscf/day) a day from the C1 and C2 reservoirs. This production plan is based on installing a fully automated gas plant at a cost of EUR2.4m, with a 1km long pipeline due to be fitted to connect Podere Maiar to the nearby Italian National Grid connection, which is located just 600 metres away. We had initially expected the application to be considered for preliminary award at the Italian Ministry Hydrocarbon Commission meeting due in July 2018, however the commission did not meet at this point and are instead expected to meet later this month. Accordingly, we look forward to sharing further updates in due course.From pxog rns

[bootie64] 14/9/2018 11:13

Knock knock...

[ifthecapfits] 14/9/2018 10:32

Breaking out?