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UOG United Oil & Gas Plc

0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
United Oil & Gas Plc LSE:UOG London Ordinary Share GB00BYX0MB92 ORD GBP0.00001
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.18 13,991,101 16:35:09
Bid Price Offer Price High Price Low Price Open Price
0.17 0.20 0.185 0.1745 0.175
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD 15.83M USD 2.35M USD 0.0036 0.50 1.18M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:09 UT 296,905 0.18 GBX

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Posted at 19/5/2024 09:20 by United Oil & Gas Daily Update
United Oil & Gas Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker UOG. The last closing price for United Oil & Gas was 0.18p.
United Oil & Gas currently has 656,353,969 shares in issue. The market capitalisation of United Oil & Gas is £1,181,437.
United Oil & Gas has a price to earnings ratio (PE ratio) of 0.50.
This morning UOG shares opened at 0.18p
Posted at 15/5/2024 23:18 by spangle93
As per today's RNS here's a link to a Q&A with the Jamaica country manager

No-one asked "how did a happy person like you end up working for UOG"
Posted at 01/5/2024 23:16 by oilbuy
Lovely finish and confirms a breakout , today's action could be interesting, who is Mr Anthony and does he have a plan for UOG ?
Posted at 02/4/2024 10:16 by 1347
It's meaningless and valueless.

Eggedon have been kicking this can for donkeys years, as they do everything. They promised to drill it in 2022, 2023 and the latest was that it would be H1 2024, yet they still haven't got any planning approved. If DCC don't approve it then an appeal by Eggedon will take ages and if they do approve it then Finch et all will appeal it anyway.

Also, do they have all the EA permits in place and up to date, because if they don't that's another year or so to add on. My call is that this will just drag on and on and on and on....

UOG don't have the funds for a drill anyway so even if Egedon got their ducks in a row and a cash call comes in then where do you think it will get funds from? They've just done a huge discounted placing to raise not very much at all.

Also, why are UOG claiming a 26.25% interest when the NSTA portal shows them having just 18.95893%?

Come back in a years time if UOG are still here. Larkin gambled on Egypt and that's gone belly up. Jamaica is pie in the sky stuff.
Posted at 15/3/2024 14:07 by 1347
I see the price and volume are up today, probably the company broker buying shares to try and swing the vote or just tweaking the share price up and forward selling the placing, bent as a nine bob note these companies.
Posted at 29/2/2024 08:08 by gregpeck7
I'm looking at a 1m mkt cap. I'm looking at 2 licenses that I think are worth a lot more than that. Simple as that. Close to 30m spent already on getting Jamaica to this stage. I know UOG inside and out. And it's a strong buy at this price. It's all about the price and relative value. Also do a peer comparison. There's a lot on offer here for the price. Now.
Posted at 25/1/2024 08:27 by 1347
I did a review of this shambles and this is where they are:

Abbu Sennan: Paid $16 m for acquisition from Rockhopper. SPA valued it at $2.052 m in November 2023, which equalled the cash call at the time, so worth nothing. Now a liability as cashcall now stands at $3.822m. Plus $1.089 m debt overhang, less the $0.8 m EGP owe (if they ever get it).

Jamaica: Been looking for a partner for 4 years plus, no-one found. Amended PSA. What are the terms for that? Anyone know? No funds to progress anyway.

North Sea: After the Hisbscus fiasco (lost P2366 Crown licence then had legal dispute, eventually settled). Then had the Quattro fiasco. Lost licence P2480 licence (Zeta), now lost P2519 licence (Maria), expired in December 2023. Larkin's not mentioned that though has he? More non-disclosure of material information.

Waddock Cross: Difficult field that Eggedon have never done anything with in years and that UOG wanted to exit. Eggedon have now applied for a 10 year extension and permission for more drills but unlikely to get permission and even if they do it will face possibly years of appeals and legal challenges. Plus UOG don't have the funds for a cash call even if they did get the go ahead.

I don't see anything worth didly squat here now unless they find a partner for Jamaica very shortly. If anyone was interested they'd be better off just buying UOG, they'd get it cheap, it's worth damn near nothing anyway, sell Waddock to Eggedon for whatever they can get and send Larkin and the rest of the useless clowns down the road. Change my mind.
Posted at 25/1/2024 07:27 by apotheki
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

Corporate Update - Confirmation of Jamaica Licence Extension

United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a portfolio of development, appraisal and highly prospective exploration assets, issues the following corporate update in relation to its Jamaica licence.


- Two-year extension of the Jamaican Walton Morant Licence to 31 January 2026.
- Large 22,400km2 offshore exploration block situated to the south of the island of Jamaica.
- 2.4 billion bbl of unrisked mean prospective resource potential audited by Gaffney Cline & Associates, including the initial drill ready Colibri prospect of 406 million barrels of unrisked mean prospective resources.
- Attractive fiscal terms and supportive host government.
- Potential NPV10 of c. $23 billion* to United at 100% working interest over the c. 25-year production life of the licence based on successful discovery and development of the 2.4 billion bbl of unrisked mean prospective resource potential.
- Success-case breakeven oil price of c. $25 per bbl*.
- Conventional exploration and potential development techniques, featuring the potential for a low carbon emissions oil development.
- Significant interest from potential industry partners with marketing to scale up considerably following confirmation of licence extension.

Jamaica Update

United Oil and Gas Plc is pleased to announce that following the announcement made on 22 January 2024, the Jamaican Ministry of Science, Energy, Telecommunications and Transport ("MSETT") have signed an amendment to the Production Sharing Agreement ("PSA") therefore confirming the extension of the Walton Morant Licence to 31 January 2026.

During this extension, United will undertake additional technical studies including piston core sampling and seismic reprocessing, aimed at further de-risking the petroleum system and better defining the prospects and leads identified on the Licence. With the licence extension confirmed, United can now build confidently on the farmout process carried out to date and re-engage with the recent positive interest that has been shown by other parties in participating in this high impact exploration opportunity, in a region with immense potential.

The Company and its advisors, Energy Advisors Group (Houston, Texas) and Envoi (London, UK), will now continue in efforts to secure a partner, in a market that the Board believes holds renewed interest in exploration opportunities worldwide, driven by the strong future demand for oil and gas.

Outlook for 2024

Following the Company's exit from Egypt, in addition to the focus on the Walton Morant Licence, the Company's strategy for 2024 will focus on the Waddock Cross oil field where the Company holds a 26.25% working interest in Licence PL090.

During 2020, Operator Egdon Resources coordinated the completion of reservoir modelling work on Waddock Cross. The Operator estimates that Waddock Cross contains a significant Stock Tank Oil Initially in Place (STOIIP) gross volume of 57 mmbbls, and that a new horizontal well could yield commercial gross oil production of 500-800 bopd and c. 1 mmbbls recovery per well.

As of 31 October 2023, the Operator Egdon advises that they are progressing plans for restarting production at Waddock Cross and we expect to be able to provide an update to the market in due course.

United Chief Executive Officer, Brian Larkin commented:

"This two-year license extension in Jamaica is a significant next step in our strategy alongside our onshore operations in the UK. The Walton-Morant Licence is a vast exploration area of 22,400km2 that United holds 100% a working interest containing potentially over 2.4 billion barrels of unrisked mean prospective resources including the promising Colibri prospect, which could be worth a potential c. $23 billion* NPV10 to United at 100% working interest on an unrisked success basis. This licence extension enables us to confidently continue our farm-out campaign, seeking a strategic partner to unlock the immense potential in this region.

The Government of Jamaica remains supportive of hydrocarbon exploration and achieving the potential of this Licence. Against the global backdrop of geopolitical instability, exploration and development success on the Licence could be transformational for the nation delivering long-term energy security, generating significant revenue and creating economic opportunities for the nation in line with Jamaica's National Energy Policy.

We will continue to focus on the recent positive interest that has been shown by several parties, and with the extended licence, this is a significant opportunity for the benefit of all stakeholders. I would like to thank the Government of Jamaica for their support and efforts to bring us to this point and we will continue our work programme in 2024."
Posted at 23/1/2024 11:36 by treasure
I thought I’d leave looking at UOG for a good while and come back and see a 3p share price Only just read the latest RNS. What a kick in the Sunak’s. Jono, soulsauce, etc you called this right!
Posted at 21/12/2023 19:59 by soulsauce
I think 'most' are past caring thirdtimelucky.
If we get another stab at it, it shows the Jamaican govt have no other interest and then we have to hope Larkin can tempt a partner. Although if a big enough partner was interested why not just take Uog for peanuts and have the lot.
Not the best bargaining position for a Ceo that has been found wanting at every level.
Meanwhile the share price continues to go down the toilet.
Is that the kettle I hear boiling 🤔
Posted at 24/11/2023 22:26 by thirdtimelucky1
ameen post ….

We all need to be more vocal and should contact BL directly (imo). I have already send him a email yesterday. He has already responded to another LTH and is arranging an investors call asap.

Key points I mentioned on my email:

* I was present on the 23rd July call (listening only as I joined from Morocco) This was so reassuring and like many others LTH, I have heavily averaged down and now hold over 2% UOG stock (my biggest holdings in any UK stock ever).

* Yesterday’s RNS announcement was a huge blow to us all to say the least, many people across LSE chat etc are saying/thinking this is the end of the company. Obviously I don’t think that at all and I have added more shares (hard earned money I cannot afford to lose, I have put our future family house buying funds in to UOG stock as I believed he would maximise value for all shareholders).

* His failure to deliver any value to shareholders over several projects is inexcusable. The only workaround was Maria and Jamaica, for now he should step up and deliver first then get paid and at this point Brian should be taking ZERO salary for the foreseeable and RNS immediately as he has his shares in UOG, if he turns the company around he will be very well rewarded like all suffering LTH.

* We’re seriously worried about cash balance as it must be running low and he assured us there will be no future Fund Raise

* Few holders think it would be worth a vote, if share holders would consider the selling of the Egyptian asset as it could be worth significantly more then what UOG paid for it and way more then our current MCAP.

*From the call on 23rd July, I recall him saying ‘’HE WISH he could BUY more shares but are in a closed period because of quattro and Jamaica news to come (as this is not the care anyone will you be buying shares on the open market immediately?)

* We’re paying back $223,000 BP loan monthly to be fully paid early Jan or Feb 2024 (after debt is paid off, this amount will be added to company’s cash flow, can this be done asap and RNS issuesed).

Above are few key points from my email and I feel we must ask these and more at the next Teams call/meeting.
United Oil & Gas share price data is direct from the London Stock Exchange

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