United Oil & Gas Share Discussion Threads

[spangle93] 31/12/2019 16:17

Must have been a lot more money - surely $6.25MM could also have been raised by issuing only 120MM shares at 4p

[buzzzzzzzz] 31/12/2019 14:17

I am holding all mine from the placing.

It was a last minute call that changed the price, more money was offered and management decided to take it but it was at 3p.

Must have had their reasons.

[buzzzzzzzz] 31/12/2019 14:17

I am holding all mine from the placing.

It was a last minute call that changed the price, more money was offered and management decided to take it but it was at 3p.

Must have had their reasons.

[bountyhunter] 31/12/2019 12:41

Not transformational for them if they sell out for just a few percent gain ;-)
I'll be glad to see the back of them but until then we may be stuck firmly in the 3-4p range.
At least the directors participated in the placing which shows confidence in the deal longer term.

[soulsauce] 31/12/2019 12:24

You are quite right bountyhunter. Hopefully this deal will turn out to be transformational for long term holders too at some stage and not just for the greedy financiers.

[bountyhunter] 31/12/2019 12:18

Some small consolation today ss but I don't think us long standing holders will be happy until the price is above 4p given the suspension price and it may take a while for the overhang to clear in 2020 beyond conclusion of the deal.

[cpap man] 31/12/2019 11:51

Come and visit this new ADVFN THREAD....



MINERS & OILERS to double or more in 2020

[cpap man] 31/12/2019 11:41

New Year tip for 2020

[soulsauce] 31/12/2019 11:21

Some more news leaking out on Ash-2 may be?

[someuwin] 31/12/2019 11:17

Buys pouring in

[soulsauce] 31/12/2019 11:11

Well aren't you just a bundle of joy.

[costax1654x] 31/12/2019 11:00

Looking for an entry at 2.5 p

[soulsauce] 30/12/2019 22:47

Ahh that market lol.

Would have thought the FTSE and Aim All Share would be the metrics to gauge things on but you could be right.

But the raising would have probably been carried out over several weeks.

Sorry for the moans. I am just sore that some investors with little interest in this are making a nice turn while people like myself are now well underwater watching the greedy financiers get a pay day at my expense having believed in the company, the management and the transformational deal.

[bad gateway] 30/12/2019 22:28

He's not totally wrong on the down 20% remark imo.
LSE shows the aim oil and gas producers up 9.23% on the day they announced the deal and down just over 6% on the day of the interview (The aim super sector oil and gas was down 13.5% that day)
Thanks for the interview link.
Still a shame about the placing price agree LTH's got a bad deal.

[soulsauce] 30/12/2019 20:58

Yes but not something he would have ever said prior to the 'transformation' deal, and you can load the deck which is what I thought 'transformational' meant.
Another lesson learned.

[spangle93] 30/12/2019 20:48

I just included it, cos it was part of the typical 5-minute sentence reply which skitters off the question asked very quickly and into a few more areas where he's more comfortable - I think he should have said you can only PLAY the cards you're dealt.

Sorry if that element got missed ;-)

[soulsauce] 30/12/2019 19:49

bounty indeed.

The 3p raising also ensured that Rkh got an even better deal with an extra 25% of shares which could net then another £2m when they decide to offload them after the lock in.

With any luck Ash-2 will prove it was still a good deal.

[bountyhunter] 30/12/2019 19:48

I read "you have to deal the cards you're dealt with" (!!) as "we were boxed into a corner by greedy financiers" :-$

[soulsauce] 30/12/2019 19:40

Sorry Spangle should have said addresses it but not sure it clears it up as you say in your second and third paragraphs.
The market clearly has not gone down 20% which makes me doubt the other excuses, errrrm I mean explanations 😉

But you are quite right with BP. However that begs another question why the financiers were more concerned with Brexit and a few small cap Oilers having a bad result or two (which is not uncommon) instead of being convinced to stump up at least the market price having the name BP alongside the deal.

[spangle93] 30/12/2019 19:22

His words were "you have to deal the cards you're dealt with" (!!) which addresses it for me. Keep up, Souls ;-)

I'm not sure he really grasped the disappointed of existing shareholders at the price, or went near the question of "if these assets are so good, then why the discounted price".

Also, he says that "the market is down 20% from when we announced the deal". Well, I've looked at quite a few markets, and none is down 20%, e.g. FTSE AIM All-Share fell from 920 to 900 over that period.

However, joking aside, still for me, the mystery is BP's involvement. I worked for BP. BP doesn't do stuff like this. It runs big projects, it moves into frontier areas, it operates large assets, it partners governments. It doesn't loan microcaps pocket money. In that interview from earlier this month, he's talking as if BP is an active player, not a passive loan provider. If anyone has spoken with the company about this, can you share your thoughts, because it suggests there may be closer involvement, like the personal links with Tullow, in the future, e.g. Benin?

[soulsauce] 30/12/2019 18:41

Well he discusses it, I am not sure he addresses it.

At the end of the day you have new shareholders with little or no interest in Uog making a good turn on cheap shares while long term shareholders that have backed this company and continue to back them have to wait for this to hopefully put on a good 30% just to get back even.

There were some good excuses from the wee man but Buzzzz calls it spot on.

[tomford8] 30/12/2019 18:23

Brian Larkin CEO of United Oil & Gas UOG discusses their AIM restoration

also recent Rockhopper Acquisition and addresses at length disgruntled original

investors on the frustration of low 3p placement

[soulsauce] 30/12/2019 17:23

Greed indeed and disappointing the company didn't have an eye on benefitting existing shareholders with holdings above 4p average which is most.