RE: Next leg higher5 Jul 2025 13:49
UOG, certainly won't spend over $1B, and then sell out for $120M payable over 8 years.
Taken from UOG website:
This frontier exploration licence benefits from excellent data coverage, including 2,250km2 of 3D data, and this has helped define multiple plays and prospects and material prospectivity within the acreage. Over 7 billion barrels mean/mid case recoverable unrisked prospective resources have been identified within the Walton Morant licence area. This estimation is based on United’s arithmetic sum of the mean/mid case prospective unrisked resources for each prospect and lead identified by United and previous operators. The licence area includes 21 prospects leads each containing more than 100 million barrels of oil potential. The largest of which potentially contains more than 1.1 billion barrels mid case unrisked prospective recoverable resources.
There are 11 high graded prospects and leads included in the Gaffney Cline and Associates Prospective Resources Report which contain over 2.4 billion barrels of recoverable unrisked mean prospective resources potential, including both 3D-defined prospects and 2D leads.