United Oil & Gas Share Discussion Threads

[soulsauce] 09/12/2019 07:42

What with 159m shares to churn through, I doubt it.

[thebigbadone] 09/12/2019 07:32

Not really. It's a very difficult environment to raise in currently. Any raise is impressive. Not the price any of us wanted but this should climb to around £30-40m mcap soon enough.

[spangle93] 09/12/2019 07:20

3p? For an 79% dilution

Good luck to those who punted high in the relisting competition :-(

[snickerdog] 09/12/2019 07:19

Looks like a £19m MCap on relist - with 1,100 barrels and four development wells to be drilled very cheap

[bountyhunter] 09/12/2019 07:07

Some have got a bargain...

Pursuant to the Placing Agreement entered into by the Company, Beaumont Cornish, the Directors, Cenkos and Optiva on 6 December 2019 [at 3p!]

[bountyhunter] 09/12/2019 07:03

Relisting is today!

Temporary suspension of trading in the Company's Ordinary Shares expected to be lifted at 7.30 a.m. today, 9 December 2019

[maverick247] 05/12/2019 12:59

This is well worth a watch and getting up to speed before re-list as there could be a lot fo demand on relist day

[amaretto] 05/12/2019 08:03

Heard the same. Maybe tomorrow or failing that, fairly soon therafter.

[snickerdog] 04/12/2019 18:06

Been told that only a few days now

[soulsauce] 01/12/2019 19:17

It is indeed a partner in Selva but you are best checking out Po Valley Energy for any progress.
It has been radio silence on all the other projects since we suspended.

Hopefully we will get an update soon as 2 thirds through Q4 now and becoming tedious.

[johncasey] 01/12/2019 18:49

Selva in Italy is scheduled to begin production in 2020 at a targeted rate of 150,000 cubic metres of gas per day, which it will deliver significant cash flow to United says the company.

Awarded four blocks in the Central North Sea in 31st licensing round that includes the Zeta prospect, which United estimates could contain over 90 million barrels of in-place oil.

UOG recently agreed the sale of the Crown Discovery assets in the North Sea for US$5mln.

[johncasey] 01/12/2019 18:47

any news about the drilling in Italy..i believe this company are involved in the Selva drill along with pxog..or am i mistaken

[bountyhunter] 01/12/2019 17:15

In the current markets borrowing might be a better idea than a placing to fully fund the Egyptian deal but I assume that has been ruled out?

[the manini] 01/12/2019 17:04

With around 20 targets at Jamaica (just one containing an estimated 200 mbopd) I doubt very much they would walk away without putting at least one drill in, it may get delayed or it may not but no one will be walking away at this stage.

[amaretto] 29/11/2019 22:12

Thanks T for the update. Good to hear that JL has been out to Jamaica given TLW has gone so quiet on that front of late. Did BL give any update on when they expect TLW to make a drill or drop decision or at least give an indication that the project is still very much a 'goer'?

[tektonik] 29/11/2019 13:55

Possibly, guess we'll find out soon!

[soulsauce] 29/11/2019 11:22

Thanks tektonic.

Is tough market not just management speak for we are finding it hard to get a placing at a good price 🙄

[tektonik] 29/11/2019 11:15

Met BL for the first time last night rather unexpectedly. He’s over in London every week until the deal is completed and clearly hard at work getting our deal over the line - he stressed it’s a very tough market at the moment hence has taken a bit longer than expected. Hopefully we’ll see some news on a re-list in the next couple of weeks.

JL is returning from Jamaica today following a few days over there on the ground - and he seemed very excited to catch up with him.

It was generally pretty clear to me that while him and David Quirke have been focusing on the deal the wider team have also been hard at work. I’m hopeful for an operational update of sorts before the year ends.

[chinadog3] 29/11/2019 11:02

Given the important milestone announced on 7th October re waiving of pre emption rights by other JV holders anything further to report Board?

[ander] 29/11/2019 10:21

cpap man- Thank you. Are you UOG holder?

[cpap man] 28/11/2019 17:05

Hopefully soon ander like next month as UOG are by all accounts putting the finishing touches to the prospectus and fund raise.

[ander] 28/11/2019 16:48

Why are we still suspended? Anyone know when we come back to trading?

[soulsauce] 24/11/2019 21:51

Good find someuwin.