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Share Name Share Symbol Market Type Share ISIN Share Description
United Oil & Gas Plc LSE:UOG London Ordinary Share GB00BYX0MB92 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.225 5.49% 4.325 4.25 4.40 4.35 4.175 4.18 4,432,623 15:25:37
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.0 -0.6 - 27

United Oil & Gas Share Discussion Threads

Showing 1576 to 1599 of 4725 messages
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DateSubjectAuthorDiscuss
05/3/2019
10:07
Can anyone help my confusion... Has the Colter sidetrack started, or are we waiting for an announcement? What is meant by "preparations" in the RNS quote below. The Colter RNS was written as future tense "The joint venture has commenced preparations to side-track the 98/11a-6 well. The side-track will be drilled directionally... and will take approximately two weeks to complete" The BOIL version is more current "We are now moving forward with the side-track..." Operationally it would be more straightforward to just carry on with operations as per BOIL's announcement but I'm not sure if they need some approvals/dispensations from authorities.
spangle93
04/3/2019
08:26
Fbrj - yes, that was the standout oddball comment of the RNS. Like, "oops, how did that happen?". No it doesn't happen often, but this part of the world has pretty warped geology thanks to the Alpine orogeny (oo-er). The document notes "The interpretation of the Top Sherwood event is challenging due to structural complexity and poor seismic signal below fast and steeply dipping chalk sediments at the surface". Also, from the 98/11-3 well to the mapped top of the structure is around 700m, and they were trying to hit the top, which is immediately adjacent to the fault, so any misplacement of the fault would have them down the wrong side. In contrast, most E&A wells don't have to be so accurate, and aren't so "blessed" with complex overburden. I'll send you a private thought through IM - check the red envelope box in the header. Edit - I should also have said that ERCE, the CPR, did not create their own seismic model, but instead they validated that the work done by partners was sound. This is normal practice for CPRs, but I just wanted to point out that they didn't have an independent model
spangle93
03/3/2019
23:46
Spangle - thanks for your post and clear explanation re East West South and North and the other information you provided about Colter. I still find it a little strange about the 'mistake' location of first drill effort - or is that something that occurs quite often? Let's hope the current one goes where intended!
fbrj
02/3/2019
08:35
@fbrj ref 1166 Sorry for the delay in finding time to look at the AIM doc, ref Colter. ERCE, the CPR, does not consider or mention the block that the current well appears to have intersected. What Brian calls Colter South is not assessed. There is a historical comment "Well 98/11-1 was drilled in 1983 to test fault seal at Bridport and Sherwood sandstone horizons, and encountered what was considered at the time to be sub-economic oil in a rotated fault block down-thrown to the south of the Colter discovery..... Well 98/11-1, drilled in the small fault block to the south of Well 98/11-3, appears to exhibit similar good quality reservoir properties, but only minor hydrocarbon saturation. Good fluorescence is noted, with bleeding oil observed in core, but no gas shows were observed.... A DST performed on Well 98/11-1 flowed water only, again consistent with a minor/residual hydrocarbon accumulation in this fault block, despite similar reservoir quality to Well 98/11-3" In other words, ERCE didn't waste much time on Colter South. The way that it's mapped (e.g fig 2.9 on page 157/261 also indicates they consider the block small. Now, it's worth saying that the view of a CPR is no better or worse than the operator or partners. It's independent, yes, but unlike the partners who study it forensically every day, the CPR gets a short period to review the material cold. Also, it was issued while the well was being drilled. It's therefore not inconsistent with our CEO's gushings, which have the benefit of early results from the first bore. Though I think he was talking of a possibly big accumulation to the south of colter 6 months ago... Moving on Colter East and Colter West in the CPR together comprise what partners call Colter, or now, Colter North, i.e. what the sidetrack seeks to penetrate. Fig 2.9 illustrates the split. The fly in the ointment is what's shown as a significant fault that runs NW to SE up to the crest of the structure - it's not as big as the fault to the south that splits Colter south from Colter North, but the seismic resolution and lack of test in the Old Harry well to the west are not unambiguous enough to determine whether the East and West side of the fault are separate accumulations. So, partners talk of Colter, or Colter North, but the CPR splits it into 2 (see fig 2.13 if you're interested). - Colter East, containing the discovery well, with 4 MMbbl 2C contingent resources (no mean figure provided) and 75% probability of development - Colter West, the Old harry side of the fault, with 15 MMbbl mean prospective resource (11 MMbbl 2C, so distribution is skewed to the downside) and 50% chance of success Contrast this with, e.g. the BOIL October presentation, slide 6, where the same fault is not shown as extending to the top of Colter, in which case you could consider it as a single "Colter North" accumulation containing the discovery well, and therefore all classifiable as contingent resources. I don't know whether the sidetrack is being drilled into the "east" or "west" side as defined by ERCE, but I hope it's away from that NW/SE fault they map so we get an unequivocal result. Ideally, since the larger and less certain resource are in "Colter West", I hope they'd go for that one, cos if they are separate, Colter East is barely economic on a standalone basis, and I can't see the overall Colter economics or the environmentalists supporting another rig appraisal campaign. Does that add a little flavour?
spangle93
01/3/2019
12:34
Qualifies for no stamp duty and also iht free (if meeting certain conditions). Cheaper listing costs too I believe
pauliewonder
01/3/2019
10:17
Take AIM, and dont think it is just for costs savings! Good step-in my view: bigger shop window fore a start
chinadog3
01/3/2019
08:37
SQZ pulled off a huge deal last year and is AIM listed.
bountyhunter
01/3/2019
08:24
I would be interested to know more about these supposed significant cost and administrative savings from moving from a standard listing to AIM. RRE can pull off huge deals with a standard listing. Small listed companies even with a premium listing can live very frugally without the £40-50k plus annual expense of a nomad and broker. I understand that most speculative oil shares are on the AIM market and there is safety in numbers but using cost savings as a justification doesn't wash with me.
danny baker
01/3/2019
07:33
Good morning AIM!
bobby1904
28/2/2019
18:50
Goodbye standard list, hello Aim. Let's hope the tracking sideways for nearly a year is coming to an end.
soulsauce
28/2/2019
17:58
Do I have a stalker lol? Don't answer that one!
bountyhunter
28/2/2019
15:58
Bloody hell, not you again.
fardels bear
28/2/2019
09:53
Https://www.bournemouthecho.co.uk/news/17465540.poole-bay-oil-rig-could-yield-15-million-barrels-of-oil/
bountyhunter
28/2/2019
09:45
An interesting twitter link (from share_talk on lse bb) Scroll down to last couple of items (bbc south east and bournemouth echo) hTTps://twitter.com/Share_Talk/status/1101037958356979712 Incidentally, why does CPR (Admission Document)refer to Colter East and West, whereas recent RNSs refer to Colter North and South?
fbrj
27/2/2019
21:23
I've skimmed through the Admission Document. Directors hold less than 5% (16m shares) of share capital plus a pile of warrants and options. If all warrants and options are exercised then directors hold approx 10% of fully diluted share capital.However, fair play to them if all comes good. 14.6m warrants and 11.1m options held by directors. 82.2m warrants and 11.1m options in total - many warrants (41m) held by recent placees (exercisable at 8p) and financial advisors. The other half are exercisable at 4.25p or below. Directors lock in for 12 months. Looking at "significant shareholders"....Jarvis (a stockbroking business) holds 34%. Other well known similar firms hold another 20%. I would guess these all these are PIs - including some significant holders - but not institutional, which is not surprising with Market Cap <£15m. Cost of move to AIM £250,000! My take on move: easier to issue paper for acquisitions without recourse to shareholder approvals and associated documentation. Over to Spangle for analysis of CPRs (especially Colter!).....
fbrj
27/2/2019
13:08
Thanks Rickyhatton: Damn, 39 pages shorter than I thought The reason it's interesting is that it contains the full CPRs, not just the highlights as interpreted by the company. The CPRs contain information on the risks for each asset, and assumptions made in coming up with reserves and NPV numbers
spangle93
27/2/2019
11:05
hTtps://www.uogplc.com/wp-content/uploads/2019/02/AIM-Admission-document.pdf
rickyhatton
26/2/2019
09:17
Not sure Spangle, may be an email to Brian.
soulsauce
26/2/2019
09:13
Hi Souls, well, I've seen the schedule previously, but I thought an AIM Admission Document was usually about 300 pages long, containing risks, CPRs, and all that kind of stuff. Maybe I'm expecting the wrong thing...
spangle93
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
soulsauce
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
spangle93
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
cpap man
26/2/2019
07:56
Thanks, that's what I suspected.
bountyhunter
26/2/2019
07:50
Nothing changes bh
cpap man
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