United Oil & Gas Share Discussion Threads

[cpap man] 21/9/2019 09:15

JohnNew200121 Sep '19 - 10:13 - 1699 of 1699 (Filtered)

[bountyhunter] 21/9/2019 09:09

Thomas Cook won't be needing that beach ;)

[soulsauce] 21/9/2019 09:02

Hopefully the protests in Egypt are a storm in a tea-cup.

[soulsauce] 18/9/2019 08:11

Fingers crossed.

[bountyhunter] 18/9/2019 07:54

Or HNL, but RTOs do generally progress to completion successfully and with a decent premium as was the case with SQZ and RRE.

[soulsauce] 18/9/2019 07:43

Thanks Spangle. So RKH decided to divest due to from Egypt as they could not gain a bigger position. Hopefully we have gained a great asset. bountyhunter yes indeed. I just hope it doesn't end up being a saga like the one I am having at PERE. They suspended in Feb 2018 to take over a big copper mine, it was supposed to take 4 to 6months but still awaiting re-list. Hopefully our BoD have got more oil in their lamp than the muppets at PERE, excuse the pun.

[bountyhunter] 18/9/2019 07:35

so again that begs the question as to the timing of the capital raise

[spangle93] 18/9/2019 07:24

From RKH Half Year report Our interest in Abu Sennan has performed very well for us both operationally and financially. However, despite our efforts to acquire and grow a more material position in Egypt, we were unable to do so on attractive terms given the competitive market dynamics and significant buyer interest for assets. Instead we took the opportunity to divest, crystalise an attractive return on investment and at the same time strengthen the balance sheet. ... In Egypt, all of the Group's oil and gas production is sold to Egypt General Petroleum Company ("EGPC"). The average realised price for oil was US$63.1 per barrel (H1 2018: $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 mmbtu. .... As a result of the acquisition of Mediterranean Oil & Gas plc in 2014, goodwill of €9 million arose relating to the portfolio of intangible exploration and appraisal assets and the strategic premium associated with a significant presence in a new region. However, following the decision to dispose of Rockhopper Egypt Pty Limited and with Italian portfolio now deemed largely non-core, a decision was made to impair the goodwill associated with that acquisition. ... The Consideration Shares issued to Rockhopper will be priced at the price at which United issue new shares as part of their proposed capital raise. Any Consideration Shares held by Rockhopper in United are subject to certain lock‐up and orderly market disposal provisions for a period of up to 12 months from completion.

[bountyhunter] 13/9/2019 22:29

Yes, good chance of an update then I would have thought.

[soulsauce] 13/9/2019 14:47

Should have interims out next week. Hopefully they can shed some light on the state of play with Egypt.

[donsan] 11/9/2019 09:22

Cheers Spangle, that explains it all,

[spangle93] 11/9/2019 07:19

Donsan Have a look at this RNS hTTps://www.investegate.co.uk/united-oil---38--gas-plc--uog-/rns/suspension-of-trading----conditional-acquisition/201907230701013439G/ UOG has announced its intention to purchase an asset in Egypt, but it needs to pass through official channels to complete.

[donsan] 10/9/2019 20:57

Hi All, Please excuse my ignorance but just had a look into this share as I hold quite a few since the beginning of the year and realise that there has been no activity for sometime, could any kind poster update me on whats going on,thanks in advance,

[donsan] 10/9/2019 20:57

Hi All, Please excuse my ignorance but just had a look into this share as I hold quite a few since the beginning of the year and realise that there has been no activity for sometime, could any kind poster update me on whats going on,thanks in advance,

[bountyhunter] 09/9/2019 06:55

Good news on North Sea licence awards to UOG today. https://uk.advfn.com/stock-market/london/united-oil-gas-UOG/share-news/United-Oil-Gas-PLC-Confirmation-Award-of-Four-Bl/80684942

[bountyhunter] 07/9/2019 12:44

"Equity placing planned to fund the balance of the Transaction, of which up to US $5 million may be taken up by Rockhopper Exploration Plc in new ordinary shares in United" Https://uk.advfn.com/stock-market/london/united-oil-gas-UOG/share-news/United-Oil-Gas-PLC-Conditional-Acquisition-Roc/80376118 It's a bit ambiguous as RKH may take up to $5m of the new equity as part of the deal but even so a limited raise appears to be planned to part fund the aquisition.

[amaretto] 07/9/2019 12:34

Don't see what the hurry is to do a raise other than for regulatory reasons (I have no idea if there are any such requirements). Best to let some of those things ticking over in the background (Colter, Selva, Jamaica, Egypt drilling and testing, etc.) come along a bit and raise off positive developments there. Time is our friend in this case if you ask me.

[bountyhunter] 07/9/2019 12:23

I agree. Could they release the prospectus before the raise? That might explain the gap between your prospectus and relisting dates.

[amaretto] 07/9/2019 12:12

Hi BH, sorry for the late reply but I rarely check in on here. I've just had a look at the presentation and can confirm that they have changed it, the one I have I downloaded when the deal was announced so clearly they're being a bit more vague with the updated version. However the general vibe I get from speaking to people 'in the know' is that relisting may well happen before the 29th November. Personally I'd like them to achieve a few more milestones, of which there are plenty due imminently, and perhaps get some decent results from the hole currently getting drilled in Egypt before getting a premium raise and then relisting sometime in November. Either way, we'll just have to wait and see.

[bountyhunter] 04/9/2019 12:47

I still can't see those dates on p8 Amaretto, have they changed it as all I can see is "2019 Q4" for "Publication of AIM Re-admission Document and resumption of trading" which is on p7?

[bountyhunter] 04/9/2019 12:43

Oh that one, I have another look.

[amaretto] 03/9/2019 21:32

It's titled "Egyptian opportunity slide deck"