United Oil & Gas Share Discussion Threads

[bountyhunter] 07/8/2019 19:01

.. The company [Rockhopper] also said that the Al Jahraa-12 development well, which is part of the Abu Sennan concession which Rockhopper owns 22% of, was spudded on August 4. The well is expected to take 55 days to drill, test and complete, the company said.

The Al Jahraa-7 well, also in the Abu Sennan concession, Egypt, and was spudded on May 25, reached a measured depth of 3,970 metres in June.

Tests found that net oil pay in the Abu Roash-C interval was seven metres and in the Abu Roash-E interval it was four metres. In Upper Bahariya net oil pay was nine metres, in Lower Bahariya-1 six metres and in Lower Bahariya-2, it was five metres.

The Abu Sennan concession has a current production of 5,100 barrels of oil equivalent per day.

[bountyhunter] 07/8/2019 17:05

When you read the first part it sounds like a holiday resort lol!

[the manini] 07/8/2019 16:58

https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Ab0c0cd17-3577-41bc-b528-f017c0b3edd1

[bountyhunter] 07/8/2019 16:11

Q4, but maybe not too long to wait.

[techtrend] 07/8/2019 14:37

News Rockhopper Says USD16 Million Sale Of Egypt Unit Close To Completion

[bountyhunter] 07/8/2019 13:23

Spangle, just checked back and posted this towards end of July, may be more in the same source document...

From Rockhopper's accounts to 31 Dec.2018:

"In Egypt, all of the Group’s oil and gas production is sold to EGPC. The average realised price for oil 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�)."

and

"Cash operating costs on a per barrel of oil equivalent basis remain attractive at US$11.7 per boe."

[bountyhunter] 07/8/2019 12:03

I recall seeing some production info somewhere for RKH Egypt but haven't got time to check back at the moment.
I see that UOG have just issued their own RNS acknowledging the RKH RNS! Must be a positive I assume but agree we could do with some more info & context with this.

[spangle93] 07/8/2019 09:56

Bountyhunter - thanks for posting

Have you, or anyone else, found anything detailed about these assets we're picking up, like a presentation or a CPR? Most RKH presentations focus on Sea Lion and have just a single slide with a map of fields in the licence.

The RNS today sounds like the well was a success, but there's no context in which to set it. 30m of net pay sounds commercial, but are the other wells in the area 10m or 300m? Do they produce from all zones or are the Roash and Baharija separate.

I guess we'll find out in due course, but just wondered if I'd overlooked any information out there

[soulsauce] 07/8/2019 08:43

Nice update, thanks for posting bountyhunter.

[bountyhunter] 06/8/2019 18:23

before it gets lost...

[fbrj] 05/8/2019 14:04

With FTSE down 440pts+ in the last week - it's not a bad time to have our shares suspended!

[ileeman] 05/8/2019 09:01

Yup quoting an RNS, I am such a bad guy. LOL.

[soulsauce] 05/8/2019 09:00

No, happy that others know what you are like.

[ileeman] 05/8/2019 08:57

Good that we agree. Must have been the 100p remark that calmed you down.

[soulsauce] 05/8/2019 08:54

Thanks for making my point - 'pointing out the very obvious' lol.

Oh and as suspected you don't have a position.

[ileeman] 05/8/2019 08:44

@Soul

Dont know why you are getting upset I am only pointing out the VERY obvious, I dont need to hold to have an opinion.

Just think it is strange figures getting thrown about when the only thing that really matters to the market is what price the equity is. If you get upset over me just quoting the RNS then you are over exposed.

And saying BP is involved so it must be good is silly, as an example look at SRSP.

100p on relist happy now?

[bountyhunter] 05/8/2019 07:01

So are we saying that the placing will most likely be announced at the same time or maybe even after the prospectus if the CPR is not expected until then?

[spangle93] 05/8/2019 06:59

Not just the CPR, a whole AIM admission document.

If they use the same independent CPR that Rockhopper did, then that would considerably shorten the time. Plus if it's a full Aim admission doc, won't we also need a CPR on the new licences, and potentially a CPR update/refresher on the other assets that were included in the AIM admission document 6 months ago.

When they moved from the main market to AIM, they announced the move on 31 Jan, and the AIM admission prospectus was dated on 22 Feb, and announced 26 Feb.

Maybe the work is more extensive this time, but I would have hoped (that word again) that it could be issued by the end of this month.

edit - not sure whether this will be linked, but last year's interim results were issued on 18 September

[soulsauce] 04/8/2019 22:20

I would think having done months of due diligence they will already have much of the information but Spangle is the one to ask about that.

[bountyhunter] 04/8/2019 22:04

Do we now when that will be?

[soulsauce] 04/8/2019 21:58

Bounty I am sure they will wait until after the Cprs are published.