Member Info for gregpeck7

And for the prediction record. I do wonder if Total will be the partner IF we drill the Jamaican assets. That would really not surprise me at all.

With how well they are doing, and they are doing VERY well, I just cannot believe you are that bothered by the salaries. That team have accumulated a brilliant set of assets - I never realised how promising the UK ones were, but for Egypt alone they deserve a massive thankyou. Yes its a big jump but I would not expect another huge rise until they move UOG into the 100m plus category. Which I am confident they will.

I am certain if we don't pay Brian properly he will end up somewhere else. You have to pay for talent and I think he will pull more rabbits out the hat. Remember how well connected Tullow was and is in Africa. You are buying those connections.

These sellers will be very very sorry in a few months. Lets just get the moaners out. No idea why you would invest if you dont believe in the company. Would love to know what you are buying after selling UOG. Probably provide a few giggles.

Standout part for me is the Egypt comments, could be 60m barrels to get at there. That is huge! Cannot believe the focus on the salaries its nuts. If you are that bothered just sell and move on. This will be well over 20p next year.

Disagree. The Egypt license alone is probably worth north of 100m the way things are going. And they secured that , doing a great job imo.

Storm in a tea cup this, you cannot get top quality people and pay peanuts. Egypt is worth millions and millions more than they paid for it, possibly hundreds, I think think they have earnt it!

PS anyone selling now is mad, its clear this is materially undervalued and I think with those numbers out there and that call hammering home just how cheap this is, we are going to see a slew of new investors. If you have not taken it in, make sure you view the new presentation.

The call was excellent. Egypt is basically daylight robbery. That alone justifies a much higher market cap, there is so much oil and potential there. UK is going to be a very nice play as well, but Egypt will be the gift that keeps giving. And if we can get some icing on top of the cake from the other plays then brilliant.

Yep excellent result, uplifts, clearly more reserves upgrades to come as well.

Its a big area and on its own it will be transformational, I'm sure the next development well wont be the last.

Probably another exploration one will be announced soon.

Well worth checking the link out.

The Abu Sennan concession is located in the prolific hydrocarbon-producing Western Desert region of onshore Egypt, and comprises 7 Development Concessions, each containing a producing field, as well as a 644km2 Exploration Licence. The licence is operated by Kuwait Energy Egypt (25%), with Global Connect Ltd (25%) and Dover Investments (28%) the other partners in the Joint Venture.

https://www.uogplc.com/assets/abu-sennan-concession/

Just remember, Jay was saying all these things about Texas... And it amounted to nothing. That's why I don't bother listening to his excuses anymore, as that's all you ever hear from him.

Them 300m barrels or oil equiv, didn't seem to keen to come to the surface either...

Jay Cheatham, CEO, said:

"This is extremely good news for Pantheon shareholders because the analysis concludes that the Eagle Ford sandstone in our West AA prospect is not water saturated, and that the water has likely been introduced from a source below the perforations as a result of the frac. The analysis of the VOBM#5 and other Polk County wells was a very comprehensive undertaking, involving extensive analysis of regional data which took considerable time to complete. The analysis also concluded that 100% of the perforated intervals in our wells were in fact hydrocarbon bearing pay zones and following this analysis the consulting geologist Art Berman has confirmed his assessment of potential P50 Prospective Resource of our project has not changed, remaining at 301mmboe. Certainly, any future fracking operations will be undertaken carefully to avoid possible communication with deeper water sources, but we will carefully consider this in well design and planning, and in this regard I am also pleased to report that Pantheon and the operator have made a concerted effort to improve our future operational capabilities with some key appointments.

"I hope the conclusions of this independent analysis restores shareholder confidence in our play, which Pantheon and the operator are firmly committed to. Our issues have been operational, and we are being vigilant in doing everything possible to minimise such issues going forward."

I am just commenting on their pretty recent history. Texas was hardly last century! Jay is still there and still offering excuses and PANR are still not producing any oil.

I dont need to watch it, I listened to them and watched the Texan disaster unfold, exactly the same things as here, drilled the well in the wrong place, fracked the wrong section, the rock was too hard, literally every excuse in the book, now its an over pressurised section which has "never been seen before" in this area that screwed up the test.

As I said, either hyper incompetent or the unluckiest bunch of oil exploders in the world

amazing that. And the bit they tested didn't work. Just ask yourself - was that just bad luck?

Well its an illustration of a very large oil accumulation - over 1km that did not flow. It happens quite a lot.

Just because its under the sea bed makes no difference. Its the same problem - porosity.

If there was good porosity here the well would have been gushing.

And as the RNS said "up to 100bopd"

So presumably most the time could not even manage that. that tellls me you have a load of oil that wont come to the surface...

And the reason they didn't test the other targets - that keeps the game going.

PANR are a very unlucky company (at best) incompetent at worst.

Take a counter view here... Just look at HUR halifax well, over 1Km of pay but not commercial. Ditto Warwick

Then look here.

almost 4km of pay, the company would have you believe that they were just unlucky, they perforated the wrong bit. But look at PANR history of drilling, there are always excuses and reasons why things just don't pan out. For me if there is that much oil down there and its mobile it should be coming to the surface, yes there will be a sweet spot but if there really is that much oil there they should be seeing it. My personal thoughts are that the porosity just is not there, the oil is but it wont move. That would just about sum up PANR, they will drain shareholders some more and spin out some eyewatering best case scenarios but this is a company with an appalling track record of delivery.

I would take the likes of UOG every day, they seem to have no problem finding gushers and converting pay to flow. and they are 1/6 of the price.

This is classic PANR and the story does not end well....

When you look at some of the utter crap that has been bagging its amazing this has waited so long to start moving. Remember the broker note is saying 28p... This is criminally cheap.

Results will be solid but they have really taken off since then so it will all be about whats happening next and how much they are killing it currently.

Full ask needed to buy is the rerate on?

This is brutal but made me laugh

https://twitter.com/SleepInvestor/status/1384787358143459329

Those were the words of Brian when we bought the Egypt 22%

That could be a massive understatement!

As previously announced, the consideration for the Rockhopper Acquisition is US$16 million (approximately GBP12.2 million) which is being funded by:

-- the issue of 114,503,817 Consideration Shares at 3 pence to Rockhopper PLC,
-- a pre-payment financing structure of up to US$8 million provided by BP ('the BP Facility')
-- the Placing of 150,616,669 Placing Shares at 3 pence per share with certain existing and new investors

As the original Acquisition Agreement and BP Facility contained backstop dates of 22 January 2020 and the Placing Agreements contained a 31 January 2020 backstop date, the Company, Rockhopper, BP and United's Brokers (Cenkos and Optiva) have extended the backstop dates on all of these agreements until the end of February 2020, which the Company expects will provide sufficient time for approval of the Deed of Assignment and completion of the Acquisition. In the meantime, the date for the admission of the Enlarged Ordinary Share Capital of United, comprising 619,153,969 Ordinary Shares, to trading on AIM has been deferred, and Admission is expected to take place during the middle of February 2020, ('the Admission date').

Brian Larkin CEO, United Oil and Gas PLC: "As the test results to date on the ASH-2 well demonstrate, Abu Sennan is a producing asset with considerable upside potential. At the effective date of the Acquisition (1st January 2019), production attributable to Rockhopper's 22% interest in Abu Sennan was c. 800 boepd. Today it stands at c.1,760 boepd. While the interpretation of the data is continuing, it is clear that the intersected reservoirs have excellent production capacity. With this in mind, we are looking forward to completing this transformational Acquisition and working with our soon-to-be joint venture partners to optimise the field development plan for Abu Sennan. This includes a multi-well infill drill programme that is expected to commence shortly with the El Salmiya 5 well.

"I would like to thank our existing shareholders, the incoming investors and BP who continue to support what will be a transformational deal for our company. Together with receipt of environmental approval for the development of the Selva Gas field in Italy and the extension of the Tullow-operated Production Sharing Agreement on the Walton Morant Licence offshore Jamaica, 2020 has got off to an excellent start. I look forward to providing further updates on our progress in the weeks and months ahead. "