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
  -0.10 -3.23% 3.00 2.90 3.10 3.10 2.95 3.10 3,981,052 16:10:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -0.8 -0.3 - 10

United Oil & Gas Share Discussion Threads

Showing 1951 to 1972 of 2225 messages
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DateSubjectAuthorDiscuss
23/7/2019
10:14
Exactly my point, also anyone know the current UOG cash position excluding Crown?
bountyhunter
23/7/2019
10:13
Bountyhunter, ref production revenue, let's hope that can be taken off the price paid
spangle93
23/7/2019
10:11
Yes Mustbefunny sorry I didn't make myself very clear. Brian is on the record as saying the transformational deal would most likely be part debt part equity. So there should be nothing in that RNS that should surprise anyone including Doc Holiday.
soulsauce
23/7/2019
10:10
Agreed and as I keep saying a payment will be due to be credited to UOG on completion for production since 1 Jan 2019 and UOG already have a healthy cash position.
bountyhunter
23/7/2019
10:09
Doesn't matter the stock is in suspension any raises will be carried out then to the best price and fairly minimal it looks like. It's looking like a great deal so far
snickerdog
23/7/2019
10:09
As far as I can see there's a $16MM deal, of which BP's arrangement will cover half, and the other half will be up to $5MM in shares direct to RKH, and the remaining $3MM (and more, since they talk of working capital) from an equity raise. So that's at least $8MM in shares issued, or about 200 million at 3.5p
spangle93
23/7/2019
10:08
Yes but they will receive that in due course and what about the existing cash balance do you know what that is? Also there will be a healthy cash payment for the low cost production revenue from Jan 1 2019 of > 1100 bopd due on completion.
bountyhunter
23/7/2019
10:05
Bounty - the Crown payments are staged. $0.95MM on completion, $2.85MM Subject to further milestones being achieved before the end of 2020, and the last $0.95MM when the field comes on production, probably a minimum of 5 years if ever So there's not much in that pot to use
spangle93
23/7/2019
10:05
Yes but not too much just a few mill - say £4m @ 4p but so what? Look at what UOG are getting? Yup you got it....a TRANSFORMATIONAL deal!
cpap man
23/7/2019
10:01
'Equity placing planned to fund the balance' so they are raising money
mustbefunny
23/7/2019
09:49
How much cash do they have right now when you include the Crown sales proceeds? Production proceeds from low cost production of > 1100 boepd from Jan 1 to be added to that.
bountyhunter
23/7/2019
09:44
They are not seeking to raise money but have said the 'transformational deal' could be funded by part debt & equity. There is nothing new in today's news regarding equity issue as far as I am concerned or did not expect.
soulsauce
23/7/2019
09:39
https://twitter.com/DDS_DocHoliday/status/1153553774063079424
ileeman
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
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