United Oil & Gas Share Discussion Threads

[soulsauce] 24/10/2018 14:33

Anyone been to the oil conference?

[soulsauce] 19/10/2018 23:44

Yes thanks tech.

[moormoney] 19/10/2018 19:31

Thanks for posting tt.

[techtrend] 19/10/2018 19:25

Indeed there was jonny



The Crown discovery could contain up to 16 million barrels of oil, according to most recent estimates.

The company has begun reprocessing work on existing seismic data at Crown. Regarding the farmout process, United has already had informal indications of interest from a number of potential partners. The Irish company owns 95% of the Crown licence.

United has also been boosted by the sale of a stake in a neighbouring UK offshore asset. Caldera Petroleum’s $37.5m stake sale to Hibiscus Petroleum of a nearby licence has boosted the value of the Crown licence to $4.5m (€3.9m) to $20m, with a mid-case valuation at just under $11m, according to estimates.

United was awarded the Crown licence at no cost, earlier this year, based on a commitment to undertake a work programme.

[funtimejonny] 19/10/2018 09:51

There was an article in yesterdays Irish Examiner about United's plans for the Crown field.

[moormoney] 18/10/2018 16:14

Plenty to talk about in the presentation so not long now. Anyone attending?

[soulsauce] 18/10/2018 12:15

Much higher.

[1bokke] 18/10/2018 12:06

I hope so, the share price should be higher than this tbh.

[soulsauce] 18/10/2018 08:34

Wonder if the company will have some news out before next weeks oil conference?

[thetrophyman] 12/10/2018 23:03

That's really strange because, way below average volume today at around 640k

[mo2550] 12/10/2018 20:41

I think there is a accumulator in the background who has taken full advantage of market jitters / nervous investor - 2x >1.8 millions late reported mid afternoon trades today from yesterday to add to the late reported >1.8million trade yesterday ???

[dandadandan] 12/10/2018 02:39

5.5p was the last placing and news is due.
A market correction has little meaning to UOG.

This share price will just bounce back.
Check out what is in the pipeline.

GLA.

[mo2550] 11/10/2018 17:34

Late trade >1.8million 85k - can't have read your sub 4p advice message ?

[daar] 11/10/2018 11:15

Sub 4p incoming and possibly more

[spangle93] 09/10/2018 23:18

The additional link from The Manini's posts contains a lot of interesting stuff.

See section 3.2:
the average price paid in 2016 for acquisitions then was USD1.50/boe for discovered but undeveloped assets. Brent crude averaged USD45/barrel (“bbl”) in 2016. This Proposed Acquisition at USD1.25/bbl sits competitively to that benchmark. Brent crude up to September this year has averaged USD73/bbl.


So, Crown would be valued on their purchase price as 9*1.25 = $11.25 or £8.6MM, which is more than half the current market cap. And that's without the caveat of Brent increases.


Unrelated to UOG, but the deal seems a bit suss. From

which is the "additional information" page that the energy-pedia link posted earlier in 791 takes you to

CPL was incorporated in England and Wales .. on 1 October 2018.. CPL is a wholly-owned subsidiary of Aban Singapore Pte Ltd, which is in turn, a wholly-owned subsidiary of Aban Offshore Limited.

There's no mention of this company or its initiation on the Aban website. Aban hires out drilling rigs.

On 8 October 2018, its indirect wholly-owned subsidiary, Anasuria Hibiscus UK Limited entered into a conditional sale and purchase agreement (“SPA”) with Caldera Petroleum (UK) Ltd (“CPL”) to acquire a 50% interest in the UKCS Licence P.198 Block 15/13a and Block 15/13b in the UK CNS for a total cash consideration of USD37.5 million.

When did Caldera get the licence? To gain a licence in the UK, you have to have a UK office, so it must have been after 1-Oct. But there's been nothing in the press, or by Aban, about this award, despite there being a chunky 60 MMbbl 2C resources. If you search on Caldera Petroleum, there are no results other than those-related SPA.

The licence wasn't awarded in the 30th round; according to the OGA website, the licencee for these blocks is the Iranian Oil Company.


Anyway, nothing to do with UOG, but there's a hint of the night about it

[soulsauce] 09/10/2018 23:08

Welcome thetrophyman a lot to be excited about here and more to come imo.

[thetrophyman] 09/10/2018 23:04

So I'm in... tbh, thought I'd missed the boat when it hit 5.5 last week... lucky me, with news, should push through, excited to be here

[soulsauce] 09/10/2018 22:56

I am waiting on the transformational next project. Can't be long now.

[the manini] 09/10/2018 21:55

I topped up today on the recent weakness and was pleasantly surprised to find that story later on posted on Twitter. They paid over double our market cap for a 50% stake and thats only one of our projects! If we continue to show price weakness I'll continue to accumulate...pdyor

[the manini] 09/10/2018 18:45

Yeah sorry forgothTTps://twitter.com/UOGPLC/status/1049677059419705344?s=19

[soulsauce] 09/10/2018 18:30

So hibiscus petroleum paid #37.5m for 50% of two licences next to our very own 😊

[soulsauce] 09/10/2018 18:19

Manini change the tt in https to TT for the link to work thanks.

[the manini] 09/10/2018 18:15

This is interesting... https://twitter.com/UOGPLC/status/1049677059419705344?s=19

[moormoney] 09/10/2018 11:55

Oil price up again today. All good for UOG