United Oil & Gas Share Discussion Threads

[soulsauce] 26/2/2019 08:58

Does this help Spangle:- hTTps://uk.advfn.com/stock-market/london/united-oil-gas-UOG/share-news/AIM-Schedule-One-update-United-Oil-Gas-plc/79307162

[spangle93] 26/2/2019 08:52

Has anyone got a link to the AIM admission document - I can't find it on the website link provided in the RNS? I guess they will have to update the website properly by the weekend, with AIM Rule 26 information

[cpap man] 26/2/2019 08:00

Also bh reached out to UOG and there is no placing on the move to AIM as BL has already confirmed. They have more than enough cash for all their current stuff including COLTER AIM will allow a much more flexible approach to financing moving forwards including by way of an obvious example debt [once again this would obviously be only against assets that are producing oil & gas] Plus on any new oil & gas assets the amount of equity raised would not be large and the assets would have to be game changers for UOG So basically BUY all the UOG you can on any dips and then just HOLD your UOG for massive medium to long term profits AIMHO & DYOR

[bountyhunter] 26/2/2019 07:56

Thanks, that's what I suspected.

[cpap man] 26/2/2019 07:50

Nothing changes bh

[ayesha4] 26/2/2019 07:34

Yup. Just stay put.

[bountyhunter] 26/2/2019 07:27

Re the move from main market to aim, presumably existing shareholdings remain valid and no need to sell and buy back, can anyone confirm?

[cpap man] 26/2/2019 07:25

DAILY MAIL today [Market report] "Sticking with the natural resources sector, a couple of small-cap prospectors received a boost as their exploration rig off the coast of Dorset found oil. The Colter well, being drilled by Corallian Energy unexpectedly found an 30 ft column of the black stuff, which was described as a 'bonus' discovery. The news buoyed shares in Baron Oil (up 44.4 per cent, or 0.1p, at 0.33p) and United Oil & Gas (up 8.5 per cent, or 0.35p, at 4.45p), which both own stakes in the licence area."

[tektonik] 25/2/2019 17:03

Spangle, my personal view is that this is a completely separate, unplanned, unexpected well and therefore we pay 13.33% of it's cost as we will with "Colter North". Hence I would expect there to be no cap which I think directly answers your question. I also further assume we will absorb the cost of this well from existing cash as BL re-iterated on the podcast today that we're all "cashed up" and we're not looking to raise further cash - he wouldn't have said this if he was concerned about the cost of this additional drill. That's my 2 pence anyway.

[spangle93] 25/2/2019 14:25

Maybe this is covered in the podcast, but what happens about the cost of the sidetrack In the July RNS, the company said "An AFE has now been signed for a total cost of £7.5 million. The estimate is on a dry hole basis and equates to a cost of £1,001,378 net to United's 10% interest." It doesn't mention any cap HOWEVER, the Optiva Securities note accompanying the original RNS said "Corallian Energy has agreed to farm down an initial 10% interest .. to United in return for United committing to pay 13.33% of the costs of an appraisal well on Colter..... We anticipate that the well will cost approximately US$9.4m (c.US$2.5m net to United) and all costs subsequent to the well will be apportioned on a pro rata basis" [they based it on UOG taking up its additional 10% option, which after 2 extensions it elected not to do] So is there a cap, above which UOG pays 10%... is the sidetrack a separate well, and therefore UOG only contributes 10% of the cost. Any ideas?

[soulsauce] 25/2/2019 13:37

Yes Mustbefunny the resilience of the seller seems never ending.

[mustbefunny] 25/2/2019 13:30

Yes looks like I got 5 from 2 + 2. Hopefully seller clears before sidetrack completed

[maverick247] 25/2/2019 13:27

Starting to sink in now could go on a very nice run for herePrevious risked valuation 18p - should be higher nowUnrisked around 70p +

[soulsauce] 25/2/2019 13:16

Enjoyed the podcast and puts to bed any raising issues. Fingers crossed for Colter nth.

[tektonik] 25/2/2019 12:33

Vox podcast: hTTps://audioboom.com/posts/7184672-united-oil-gas-audioboom-reabold-resources-plus-malcy

[maverick247] 25/2/2019 09:52

Remember JOG missed their original target drilled a sidetrack and hit >500%United in same situation now but the the new discoveryWake up market :)

[spangle93] 25/2/2019 09:33

No prizes for for guessing which RNS is the most bullish Meanwhile BOIL up 25% on the news

[techtrend] 25/2/2019 09:22

Summary view from UOG and partners: United Oil & Gas PLC CEO, Brian Larkin, said: "Initial results from Colter have delivered a bonus in the form of an additional hydrocarbon structure, which has excellent initial oil and gas shows. This offers opportunity for future appraisal and to increase the overall value of the Colter licence for our shareholders. More work will be required to determine the resource potential within the structure, and we will update shareholders on the outcome of the side-track well in the coming weeks." Stephen Williams, Co-CEO of Reabold, commented: "We are very pleased to have encountered pay within the Colter South fault block which would add significant volumes to those which we hope to encounter within the Colter fault block following the side-track." Malcolm Butler, Chairman and CEO of Baron, commented: "The initial well bore has given valuable information on the potential of the Colter South Prospect, which will be integrated into our existing analysis of the structure in this area. We are now moving forward with the side-track into the Sherwood Sandstone reservoir in our main Colter Prospect target and look forward to updating shareholders in due course. Baron Oil has an 8% interest in Colter and Colter South."

[thebigbadone] 25/2/2019 08:29

Not sure how anyone who has read this RNS properly can't see that this is extremely positive for UOG. Just got to wait 2 weeks that's all and we will have doubled our resource!

[mr.oz] 25/2/2019 08:12

It's positive Doubt removed Upside likely

[soulsauce] 25/2/2019 07:50

Exactly Bobby.

[bobby1904] 25/2/2019 07:46

Colter just one small part of the UOG story. The bigger picture is the driver here for me....

[soulsauce] 25/2/2019 07:33

Hmmm a bit of a gooley dropped on sighting of the well and now more expense to side track but more pay found. Bit of a neutral for me at the moment but hope market sees it positively and hope the sidetrack finds the original target pay.

[adorling] 25/2/2019 07:19

Hopefully Colter oil find will now see the beginning of a well overdue re-rate for UOG.