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UOG United Oil & Gas Plc

0.19
-0.005 (-2.56%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
United Oil & Gas Plc LSE:UOG London Ordinary Share GB00BYX0MB92 ORD GBP0.00001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -2.56% 0.19 0.18 0.20 0.195 0.19 0.20 2,295,120 15:42:31
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 15.83M 2.35M 0.0036 0.53 1.25M
United Oil & Gas Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker UOG. The last closing price for United Oil & Gas was 0.20p. Over the last year, United Oil & Gas shares have traded in a share price range of 0.19p to 2.15p.

United Oil & Gas currently has 656,353,969 shares in issue. The market capitalisation of United Oil & Gas is £1.25 million. United Oil & Gas has a price to earnings ratio (PE ratio) of 0.53.

United Oil & Gas Share Discussion Threads

Showing 1926 to 1945 of 7500 messages
Chat Pages: Latest  84  83  82  81  80  79  78  77  76  75  74  73  Older
DateSubjectAuthorDiscuss
23/7/2019
09:36
iLeeman are you talking about the last raising at 5.5p?
soulsauce
23/7/2019
09:33
Face value it is exactly what UOG needs a producing asset. BP involvement is great, another very nice positive is RKH intends to take up $5million shares which helps the acquisition.

Couple points for balance it seems RKH have been trying to sell it for a while why is that? What price is the raise to fully acquire the asset? Why did UOG say they are not planning to raise and then they raise a month later?

ileeman
23/7/2019
09:22
RKH paid $11.9MM for the asset in August 2016 (a time when the oil industry was very much starved of cash and bargains could be made)

At the time, they announced "low unit cash operating costs at approximately US$8 per barrel in 2015" for the 1100 bbl/d

Rockhopper management resource estimates, prior to the Al Jahraa SE-1X well, were 4.5 mmboe (2P plus 2C) so they paid $2.7/boe

Revenue and profit/(loss) after tax of US$6.2 million and US$(2.2) million respectively are attributable to Rockhopper's 22% interest in Abu Sennan in the 12 month period to 31 December 2018.

In Egypt, all of the Group’s oil and gas production is sold to EGPC. The average realised price for oil in 2018 was US$68.4 per barrel, a small discount to the average Brent price over the same period. Gas is sold at a fixed price of US$2.65 per million British thermal units (“mmbtu”).

Net Book Value for Abu Sennan for the year ended 31 December 2018 was US$13.8 million.

UOG paid $16MM for the same production, and 2.64 2P

spangle93
23/7/2019
09:15
Well some further good news is that the RKH shareholders do not appear to be jumping with joy at this deal with most feeling that UOG have come out on top here!
cpap man
23/7/2019
09:13
From the RKH site

"Production from the six development leases within the Abu Sennan concession increased during 2018 with production during the period averaging approximately 813 boepd net to Rockhopper (2017: 760 boepd). Following successes in the 2018 and 2019 drilling programmes, total gross production increased to 1,130 boepd net to Rockhopper during the period to June 2019

The 2018 drilling campaign resulted in the drilling of successful infill oil producers at Al Jahraa-6 and Al Jahraa-10 and a successful exploration well at ASZ-1X. At Al Jahraa-6, success occurred in both the primary objective, being the Abu Roach-C reservoir, and with a new oil discovery in the deeper Bahariya section. The Bahariya formation was subsequently put into production and continues to make a meaningful contribution to overall volumes from the concession. In 2019 EGPC awarded development lease for Abu Sennan 6 which included the ASZ-1X discovery and the well is now on stream.

An active drilling programme for 2019 is underway including one exploration well, two in-fill oil producer wells and a second water injection well on the Al Jahraa field. The first of the in-fill wells, Al Jahraa-11, was successfully tested and completed and is producing approximately 787 bopd gross. Kuwait Energy, the operator, is seeking bids for the construction of a sales gas pipeline from Al-Jahraa field to the gas plant at El Salmiya.

The Company continues to see a material improvement in the payment situation in Egypt with a significant decline in outstanding receivables owed by Egyptian General Petroleum Corporation (“EGPC”)"

spangle93
23/7/2019
08:43
I would guess October for the Re-admission document and the shareholders meeting so trading again about Halloween. Rockhopper said they received $4 million of free cashflow from August 2016 to end 2018 so UOG should receive about $2 million or better for 2019.A very positive deal but I think the stale bulls will head for the door when it resumes trading.
kinwah
23/7/2019
08:10
It says Q4 Kevd.
soulsauce
23/7/2019
08:08
What's the likely timeframe till relist?
kevd1986
23/7/2019
07:24
Good post Kinwah.

We will still have less than 500m shares in issue once this has completed and I expect a mkt cap of at least £30-40m with this deal so 7 to 9p.

Of course as part of relisting the company can reorganise the share base so much of the dilution may be negated.

soulsauce
23/7/2019
07:18
Not in my opinion, great deal.
1100 bopd since 1 Jan 2019 attributable to UOG at completion, how much is that worth?

bountyhunter
23/7/2019
07:17
I would have preferred them to wait on tullow and other assets coming together before embarking on a deal of this nature.This type of deal is to soon in their cycle.
mcpaulas
23/7/2019
07:17
No but with BP involment I'm more confident and if RKH were having any current problems due diligence would have shown that up. I'm not aware of any issues.
bountyhunter
23/7/2019
07:06
We will see.
How much will that low cost 1100 boepd backdated production from 1 Jan 2019 be worth to UOG at completion?
UOG market cap £11m now with no debt and cash rich. Deal creatively structured with BP.

bountyhunter
23/7/2019
07:06
UOG are getting a solid cash generative asset which is mainly BP and vendor funded. Because it brings turnover, it is a vital stepping stone in UOG's development as an AIM company. Hopefully afterwards UOG can buy other more exciting assets which don't trigger the Reverse Takeover provisions of AIM. I very much doubt UOG shares will double when trading resumes later in the year but a modest uplift would be nice.
kinwah
23/7/2019
07:03
Hi the abbot, RKH are getting rid of these assets as they need the money for Sea Lion as I posted above in #1509
bountyhunter
23/7/2019
07:00
Egypt is very unstable at the moment. Cancellation of flights prove how dangerous and unstable it is.
mcpaulas
23/7/2019
06:59
Brilliant news. Another big building block for the company to even bigger things and what looks like a very promising deal with BP as well.
soulsauce
23/7/2019
06:58
Hence the appointment of a joint broker
2prsimo
23/7/2019
06:55
They have a lot of fingers in a lot of pies that will need funding.This deal is going to need funding.Are they trying to run before they can walk.They are going to need a lot of cash.Dilution is going to be massive.
mcpaulas
23/7/2019
06:38
This is a massive deal. Maybe it will shut up all the moaning derampers. Hope they choke on their cornflakes this morning!!
bobby1904
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