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 Shares Traded Last Trade
  -0.05 -0.99% 5.00 5,352,770 15:33:56
Bid Price Offer Price High Price Low Price Open Price
4.90 5.10 5.20 4.95 5.05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -1.95 -0.62 31
Last Trade Time Trade Type Trade Size Trade Price Currency
16:30:01 O 2,952 5.08 GBX

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United Oil & Gas Daily Update: United Oil & Gas Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker UOG. The last closing price for United Oil & Gas was 5.05p.
United Oil & Gas Plc has a 4 week average price of 4.50p and a 12 week average price of 2.78p.
The 1 year high share price is 6.25p while the 1 year low share price is currently 1.40p.
There are currently 625,153,968 shares in issue and the average daily traded volume is 7,043,326 shares. The market capitalisation of United Oil & Gas Plc is £31,257,698.40.
9tintin: Manini With the greatest respect, my investing rationale is down to me - as long as it makes sense from my point of view that's all that matters, no doubt you have a long term view of making money from UOG and that's fine - that's YOUR prerogative, good luck ! I didn't actually say I thought the share price would be driven down did I ?? I was trying to make sense of why it has stagnated, subtle difference. Neither did I say it was an ex exec of the company selling did I - you are twisting the message, maybe that's why you can't make sense of it ?? On top of that you calling out posters on here who have been around for a long time - as liars - that does not sit well. I held UOG for three years and managed to walk away with something, I think the drilling results put the company in a much better place than went I exited, hence I'm back in, I don't mind paying a premium. Finally - you make the classic misjudgment of mistaking a realist for a negative. Accept that not all share holders are uber bulls and you will sleep better. Good Luck with your investments, we all want to make a buck. tintin
9tintin: Guys Thanks for the kind comments, glad to be back on board. The thing that has really baffled me and Soul has raised this time and time again, is all the news flow and back ground info since the deal completed has all been positive - and all the commentary and broker notes have supported the feeling of progress. Yet there has been and still is a concerted plan to stymie the share price - now any rational and clever person with a chunk to move on would either let the share price move north in line with events and make a significant profit or do a deal with a broker to transfer their stake to an institution in one go and accept the lesser return but get clear and move on. But no, the seller seems intent on holding UOG back in a way that almost looks vindictive, it certainly won't be for monetary reasons - as stated above. A couple of years ago there was a similar case at AMER where a disgruntled very large shareholder who tried to get on the board of directors but failed, proceeded to sell down his holding over a long period to the point where, even with good drilling news and profits the share price retraced to such a level it was gobbled up by a predator for a song and shareholders were sold out by the management. This feels similar and I'm wondering if BL has upset someone on the way up to getting CEO of UOG - wouldn't be the first time that's happened in this business. I would not be surprised if T/O were in the wind - the fundamentals are simply too good for a company who will be producing nearly 5000 boe in the near future to be languishing at a Mkt Cap £32M. As yet the 'deal' has not seen the transformation that was trumpeted at every opportunity by Brian - just hope he gets to realise his dream, but we should all remember what happened to Tullow !! tintin
9tintin: I originally bought into UOG back in April '18 and topped up to a not (for me) insignificant holding, some of my stash were bought at 5.22p - we are below that now! After the transformational deal and subsequent placing at 3p - I became frustrated by the lack of response in terms of the share price - all the good news was being sold into in a way that screamed " manipulation" the seller was relentless. My patience was exhausted and after the Abu Sennan drilling resumption and good results I sold up with a profit, to invest in pharma. After much soul(ha ha) searching I have bought back in slightly above what I sold at, in the belief that the story is better than ever - the drilling results and reserves up grade suggesting UOG are grossly undervalued. I find 5p something of a puzzle though and does seem to indicate a lack of confidence by the market that the 'deal' is as good as it looks (to me). Soul has called this right all along and proved his conviction by staying with it far longer than a good many - including me!! I'm just hoping that the story will come good now that the drilling campaign has sprung to life - but as intimated above the share price still languishes below where it was nearly three years ago. As I said I'm back in, in the knowledge that production and value will out in the end - just hope I can stay the course this time. tintin
someuwin: SP Angel... United Oil & Gas (UOG LN): Significant uplift in reserves Share Price: 5.2p, Market Cap: £32m • UOG has announced a reserve update on the Abu Sennan concession, onshore Egypt, where the Company holds a 22% working interest in the Licence, which is operated by Kuwait Energy Egypt. • The report, which is relevant to end 2020, by Gaffney Cline & Associates indicates material increase in reserves at Abu Sennan. • This includes a 24% increase in Abu Sennan Gross 2P Reserves to 16.8MMboe (15% gas) from 13.5MMboe at the beginning of 2020, representing a near 200% reserves replacement ratio, before the recent drilling success at the ASH-3 and ASD-1X wells. • Gross 1P reserves are up by 59% to 6.7MMboe and gross 3P reserves up by 21% to 34.7MMboe (from 4.2 MMboe and 28.6MMboe respectively at the beginning of 2020). • Significant additional growth opportunities were also evaluated in the report, noting 21 exploration prospects, many with multiple reservoir targets. Our take: Following a string of successful wells, it’ll come as little surprise that UOG reports an uplift in reserves. Nevertheless, the numbers reported today will have exceeded many expectations in our view. UOG continues to maintain strong operational momentum following recent success at ASH-3 and ASD-1X, serving unlock significant new resource plays for the Company and its partner. Shareholders will also be encouraged that the recent recovery in oil prices has significantly enhanced operational cashflows and improved the economics of additional development wells and there will be further drilling activity with the AJ-8 development well in the near term."
someuwin: It's not just Cenkos (with their 28p target) who are UOG fans. This was from share price Angel a few weeks back... "SP Angel - 24/01/2021 Our take: Another transformational result for UOG, and management deserve all the credit they are receiving from the market following a string of successful wells and continuing to exceed production targets. The first well of 2021, following the deferral of the majority of the 2020 drilling programme, has come in well ahead of expectations. This year will be a strong year of operational activity in the country in our view, with the drilling of further wells as part of UOG’s 2021 campaign, including the ASD-1X exploration well, that will follow after completion of ASH-3."
spangle93: 100p a share from UOG? That's some imagination. I agree that UOG remains undervalued, but does the 100p vision have any basis in reality, or routemap, or was it just a little evening's wishful musing over a glass of merlot? TXP can get that far because they discovered a field for which they are 80% equity holder and operator, and which that is about 15x bigger than UOG's entire (non-operated) reserves, they are about to test another, with several more high CoS appraisal targets to follow, they are shortly to bring on production that more doubles their existing flow, with as spawny says, a plan to deliver 10x that current figure within 12 months, and they are onshore where costs are much lower than offshore provinces like Jamaica. By the time UOG reaches £600MM market cap, "confetti Larkin" will have ensured that though the market cap is 20x higher, the share price doesn't multiply to the same degree. Well done on TXP, spawny - you deserved it. I hope the entire house isn't on your next one though ;-)
fbrj: soulsauce - interesting read across from the Cairn Energy deal. I know they are not directly comparable (oil/gas split and whatever the PSC arrangement is) but nevertheless UOG boepd is approx 10%, giving a valuation of approx $65m - or roughly 7.5p/share - just for our Egyptian assets, not taking account of the further potential for new drilling etc there. Plus Jamaica, Italy and North Sea etc. The other metric I like to keep an eye on is the p/e - which for UOG current year is just over 3x (hardly demanding!), based on Cencos eps of 1.5p. In other words plenty of headroom for the share price Been here since May 2018 - some bought at 5.5p (oops!). Since then, averaged down, sold down to b/e 3.5p. Now been buying again (averaging up!) and now hold just over 2m shares Also good to see much increased volumes, new faces here and last but not least a 2 year high share price
the chairman elect: United Oil & Gas (UOG:LSE) ASH-3 Well Test Update United Oil & Gas (UOG:LSE) has updated shareholders and the market regarding the testing of the ASH-3 development well in the Abu Sennan concession, onshore Egypt. The testing, which has been completed under-budget and ahead of schedule, represents another successful strike for the Company at Abu Sennan. United holds a 22% non-operating interest in Abu Sennan, which is operated by Kuwait Energy Egypt. Optiva have calculated a core valuation for United of 25.1p per share, with the potential for further upside from its projects, including Abu Sennan. Based on our estimates, the current share price of UOG does not even reflect the value of the Company’s Egyptian assets (for which Optiva have a current undiluted valuation of 6.9p per share), let alone the wider portfolio. ASH-3 will target the producing Alam El Bueib (AEB) reservoirs in an area of the ASH field updip of the ASH-2 production well, which came on-stream at the beginning of 2019. We note that ASH-2 has been a prolific well, having produced over 1 mmbbls of oil to date. The Abu Sennan concession averaged 10,500 boepd gross (2,310 boepd net to UOG) during January 2021, even before ASH-3. Brent Crude prices are currently standing around $64, effectively returned to pre-pandemic levels, however this rebound in the underlying commodity price has yet to be reflected in the share price of UOG. Full RNS below: United Oil & Gas PLC (AIM: "UOG"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, is pleased to provide the following update on the testing of the ASH-3 development well in the Abu Sennan concession, onshore Egypt. United holds a 22% non-operating interest in Abu Sennan, which is operated by Kuwait Energy Egypt. Highlights · Preliminary results from the ASH-3 well-test indicate a maximum flow rate of 6,379 bopd and 6.7 mmscf/d (c. 7,720 boepd gross; 1,700 boepd net) from the Alam El Bueib ("AEB") reservoir during well-testing on a 64/64" choke · On a reduced, 30/64" choke, expected to be more representative of the producing flow rates, the well flowed at 3,561 bopd and 2.9 mmscf/d (c. 4,140 boepd gross; 910 boepd net) · The well is expected to be brought onstream in the coming days ASH-3 Well The ASH-3 development well, a step-out development well in the ASH Field, spudded on the 4th January, and reached a total depth (TD) of 4,087m MD (3,918m TVDSS) on 8th February, ahead of schedule and under budget. Logging indicates a gross hydrocarbon column of 59m in the primary AEB reservoir target, 27.5m of which is estimated to be net pay. ASH-3 was successfully tested from the targeted AEB Formation, and preliminary results indicate maximum flow rates of 6,379 bopd and 6.7 mmscf/d (c. 7,720 boepd gross; 1,700 boepd net working interest) on a 64/64" choke. Rates of 3,561 bopd and 2.9 mmscf/d (c. 4,140 boepd gross; 910 boepd net working interest) were achieved on a reduced 30/64" choke, and in line with prudent reservoir management, these rates are expected to be more representative of the sustainable flow levels that will be achieved when the well is brought onstream through the existing ASH facilities. The ED-50 rig will now move to the north of the Licence, close to the producing Al Jahraa field to commence the drilling of the ASD-1X exploration well. This well is targeting the Abu Roash reservoirs in the Prospect D structure and, if successful, can quickly be brought into production. United Chief Executive Officer, Brian Larkin commented: "The ASH Field continues to out-perform our estimates and following on from the success of the 2020 drilling programme, this is another excellent drilling result that demonstrates its significant growth potential. This result is a very positive development for the Abu Sennan partnership as a whole, and, when brought on production over the coming days, ASH-3 will provide a significant boost to the concession-wide production rates that averaged 10,500 boepd gross (2,310 boepd net) during January 2021. "We look forward to the spudding of the forthcoming exploration well and the remainder of our 2021 work program."
9tintin: Re post 3906 They said that about AMER - but the selling didn't stop until a T/O at a ridiculous low offer. The stagnant share price tells it's own story - reality is sometimes difficlult to accept for some. The reaction to a positve drill result (ASH-3) will give further clues as to what is going on with UOG. The bare fundamentals here suggest the share price is under valued by a significant amount, so the continual knock backs to good news does bear discussion. I don't have the answers but I do acknowledge there is a question. tintin
mikro1: Looking forward to good news hopefully soon. I'm amazed that the share price hasn't gone up already given the oil price appreciation - it's as if the equity market doesn't believe the oil market price. I think it's a question of 'when' not 'if' the share price will double here.
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