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United Oil & Gas Plc

0.05 (3.33%)
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 3.33% 1.55 3,680,048 12:26:09
Bid Price Offer Price High Price Low Price Open Price
1.50 1.60 1.55 1.50 1.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Crude Petroleum & Natural Gs 15.83 2.35 - - 9.99
Last Trade Time Trade Type Trade Size Trade Price Currency
14:59:52 O 250,000 1.511 GBX

United Oil & Gas (UOG) Latest News

United Oil & Gas (UOG) Discussions and Chat

United Oil & Gas (UOG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

United Oil & Gas (UOG) Top Chat Posts

Top Posts
Posted at 01/6/2023 08:20 by apotheki
I am new to this share thirdtimelucky1 but mostly like what I see. Like many other small caps the share appears to be unloved and undervalued. Not sure about the CEO or Chairman to be honest but feel that if one or two things go their way that the share price could potentially do rather well moving forwards.

What is your take on the shares?

Posted at 27/4/2023 08:35 by sclper
Production last year was higher than now after including the most recent well. The wells at Abu Sennan suffer from high decline rates. As I said earlier the next set of accounts will look very poor with the lower oil price and the fall in production.I don't know who has been buying recently to bid the share price up but it is probably only worth a punt from 1p
Posted at 11/4/2023 15:48 by spangle93
Greg - Jamaica drill won't happen for yonks. They only have to commit to a well by end of Jan 2024. Then they have 2 further years to drill it.

However if they get a farm in partner on realistic terms by end of Q323 (as per their timeline), then I agree that the share price will rise significantly to reflect this.

They seek a carry to the end of Jan 2026 (which includes a well) and contribution towards the $4.3MM that UOG has spent to date

Posted at 22/3/2023 08:34 by spangle93
Greg - when you have a share price graph like that, I don't need to come up with ways to be downbeat.

I thought the well result was excellent, to be fair, especially after ASH-4 came onstream at significantly lower rates than other wells in the field, or as trailed.

The challenge is that these are small pockets of oil, which are low risk (apart from the relatively big one ASW, unfortunately), but in which rates decline rapidly.

Field production guidance for this year is lower than when we performed the miraculously transformational deal. Tennyson in their broker note in October was forecasting 1575 boe/day net (actually they wrote 1,575 Kboed, in which case the company would be greatly undervalued!!). They had the rates above 900 boe/d until into 2025.

The thing to watch in April will be reserves. At the time of the deal they noted
"Transformational acquisition will deliver over 1,100 boepd net low-cost production with 2.64mmboe net 2P". Tennyson assigned a value of $8.33/boe reserves in the ground, which seems generous given the payback mechanism, but even then (and with a higher oil price expectation) they only valued Egypt production at 2.8p/share.

In April 2021, they had 3.69 MMboe reserves

In April 2022, the figure was 3.0 MMboe, i.e. they found less than they produced

In April 2023 - well, let's see. My money is on another reduction, because they produced a net 0.48 MMboe, but of the 5 wells they drilled last year, 2 were dusters and Ash-4 was below plan.

Declining production and falling reserves doesn't fit too well with the banner on their presentations "United Oil & Gas - Focused on Growth" .

Neither does share buybacks, which is the stupidest idea yet for a growth company

What they HAVE done, helped by the oil price last year, is generated enough cash to pay back the BP debt. Looking forward, with no debt repayments, and with (thus far) a small planned program in Egypt (2 new wells, 8 workovers) we should start to build a cash pile which could be used to make an acquisition.

But OMG, let's hope it's not a transformational one. ;-)

Posted at 12/1/2023 10:48 by soulsauce
Where are the real value drivers? Come on UOG get your finger out and do something for your increased wages :-/
After a very brief rise in the share price post Covid, the share price has been in a downtrend for 22 months through a period of higher oil prices.

Posted at 30/11/2022 06:52 by the chairman elect
Now now Spangle93 I actually see you as a decent relatively well balanced poster whose posts I actually read - so not on the long FILTER list!

As you state Egypt has been a pretty steady play but not exceptional investment so far. However with debt almost paid off UOG will shortly be in a position to go again on the acquisition front.

Where would UOG have been without Egypt? How many placings would there have been? All these types of questions are worth pondering for a moment or so....

However it is Jamaica that has the real potential to be a serious game changer for UOG shareholders....

Talking of being a UOG shareholder how many other posters can honestly put up their hands to state that they are also UOG shareholders and not just de-ramping shorting TROLLS?

Not many I reckon!

Posted at 29/11/2022 18:48 by spangle93
The Manini 29 Nov '22 - 15:12 - 6251
"2 million boepd attributable to UOG"

I appreciate your optimism, but that's twice the UK national production! The flare would be visible in Cyprus ;-)

Seriously, I hope it was just an unfortunate typo. But even so, additional 2MMboe reserves is not going to re-rate the price. I'm not sure if UOG intends to do a reserves revision at the end of 2022, but IMHO the gain from this well, should it come in, would be of the same magnitude as the amount the reserves have fallen from write-downs at ASH and possibly Al Jahraa, added to the roughly 0.5MMboe production from the 2021 reserves (1350 boe/d * 365 days)

You make a good point that the revenue from Egypt (helped considerably by the rise in global oil price since the acquisition which even Larkin can't claim to have influenced) has meant that they can fund drilling operations in Egypt, keep the lights on in Dublin, and pay back the debt, without recourse to raising funds from the equity markets.

But the result of that debt has meant that until the end of 2022, they haven't had much left over to make acquisitions. In fact in the last 3 years, the model of acquire, add value, and flip, with which they started so promisingly, hasn't seen much if any turnover delivered for gain.

Now, as production and oil price decline, what else is left in the basket to cause the market cap and share price to rise? When challenged, the Chairman Elect elected not to come up with any good reasons, even ones stolen from the balanced discussion by educated twitterati.

Posted at 11/7/2022 17:22 by hedgehog 100
Well Soulsauce, if a lot about UOG is similar to six months ago, but the share price is far lower, doesn't that make it far better value?

And we are also now six months closer to transformational news, and in a new, bullish O&G era triggered by the tragic Ukraine-Russia war.

Can you imagine the potential upside here if UOG successfully (in partnership) bring its North Sea and Jamaican assets on-stream?

It's like a combination of 100-baggers SQZ & CNE before they took off:-

• SQZ (Serica Energy): recently a c. 7-year hundred-bagger after a prior share price collapse, to a recent market cap. of over £1Bn.; operates in UK North Sea.

• CNE (ex Cairn Energy): a prior long-term hundred-bagger after a prior share price collapse, on success in India.

And UOG has great downside protection too.

A lot of success is stock-picking can be down to successfully determining 'turning points' before the herd: e.g. a multibagger than may be running out of steam, and approaching problems; or a share that's been in a lengthy downtrend, but could have bottomed.

But to do that you really have to look forward, not back.

Posted at 17/6/2022 08:52 by 9tintin
Mkt Cap of $12 and falling, what did UOG pay for the Egyptian transformational deal??

Oil is at sky high prices which should be good for oil producers.

UOG share price is in free fall and market confidence is shot to pieces.

I have lost 65% of my investment in this company, with no sign of recovery.

Larkin should fall on his sword and acknowledge he has messed up big time.

Maybe then the share price will go back up !!


Posted at 07/3/2022 09:50 by pieffect
This is puzzling imo, there seems to be little correlation between oil prices and UOG share price
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