Member Info for jono44

Thought this well was supposed to take c60 days to drill.
Only 28 days from spud rns, doesn't seem right, can only assume that maybe it spudded prior to 6th Dec. They did the same last year, not reporting a spud on time but after it had spudded.

These wells don't come cheap and it must cost uog around $800k each time if not more and as the last few are not contributing anything the cost must be coming out of the cash balance which must be dwindling at an alarming rate.
The bills need to be paid and if it wasn't for the money from the divestments received in 2022 then they would most probably be bust by now.

Lack of other news, as others have pointed out, is also disturbing.
The $1m that they should have received from Hisbiscus before end of 2022 hasn't been mentioned which doesn't bode well. Also the fact Hisbiscus let the Crown licence lapse, so money down the drain for them, they might not want to give uog any more.

I also agree that a capital raising could be on the cards, it will depend on the programme for this year but don't think uog are in a very good financial position to pay their share especially if they have any more Dusters.

Also noted that Formerfd was binned and all his previous posting history deleted.
He jumped over to the Harl bb but was quickly sussed out by a few on there and suddenly disappeared but it does look like he might have resurfaced under a new name as there is a new poster there that posts in the same fashion as fd did, think he was a paid ramper who did a job here for someone.

Another thing to look out for is the Major Shareholder's list on the uog website.
Might be a good idea to take a screenshot of it today because it hasn't been updated according to Aim regulations.
It's overdue, again..

Looks like game over for shareholders, the long game being played out to plan.
How can a company with maybe 3 employees all directors, that does absolutely nothing be unable to publish accounts!!,,

Spoils will go to anybody that is owed money , shareholders will get zilch, but has that been the plan since zeb was siphoned off?

No doubt zeb nickel will be crowning a new ceo in the not to distant future.
Any guesses who?
One guess each should be enough.

Game will restart on tsx , don't be a player.

Greg I'm certainly not obsessed with you and being factual here I never mentioned you on this thread but you referenced me in your opening post.
Understand that by making a remark like that makes you fell superior and maybe want to impress others then fine keep doing it, I don't care.
But putting our differences aside you should have a good look at production.
It has fallen from 1567 boepd in Q1 to probably today around 1000 boepd and remember that 2 wells came onstrean in 2022 adding around 600 boepd and so far 2 haven't and 1 still remains a bit of a mystery as to what it is producing, ash4.
So with the addition of aj 13 and asd 2 giving 600 boepd the production has still fallen from what should be around 2030 boepd to 1000 boepd.

Imo an update in Q1 2023 won't occur until result of ASW-1X is known but when it does pay careful attention to any reference to cash balance.
Such a lot now depends on this exploration well.

But as others have said there could always be news on Maria cpr, payment from hisbiscus but probably nothing on Jamaica but who knows.
But watch out for jam being spread on any news, dyor.

"Off to drill a monster well for UOG now. It looks like the year ends on a high with circa 1,800 boepd net to UOG which is more than enough to be highly profitable."

Says the man who posted All over ad..., on bb's of shares he didn't own to tell people to sell and buy uog.
Shamelessly ramped here with mis information and then goes into hiding.
Definately suspicious.

Larkin won't make a decision on Maria until they see the cpr.
But if they do decide to go ahead if I remember correctly the capex is about $70m so they won't go alone thats for sure and will probably need to raise equity of some sort.

More prevalent in next 3 months is the spudding and result of the new exploration well.
Not sure the drilling team they are using is up to the task as this will be an even more difficult well to drill and their record so far isn't good.

With production declining at a faster rate than I expected, h1 Ave 1552 boepd and now fy around 1300 boepd and currently daily around 1027 boepd people should be looking at revenue or lack of and the affect that will have on the cash balance.
Their still due $1m from hisbuscus and that was supposed to have been paid before now but theg do expect it before end of year but have been a bit quiet lately.
Imo without this payment the cash balance might be a lot lower at end of h2 because of the sharp decline in production In h2.
I've explained my reasoning for this previously but if anyone woukd like to discuss it in a respectfully manner I would like to hear their thoughts.
As ever dyor.

There is none so blind as those who will not see.

Isn't it.

Daily production on 22nd November 1027 boepd net to uog, I could put it in capitals for you, myfirstmillion, if you want.
Oh by the way these are not my figures their United's just to remove any doubt.

Larkin better pull one enormous rabbit out of his hat because at this rate the cash balance is going to be dwindling, because bills have to be paid and revenue must be falling as quick as production.

H1 average production 1552 boepd net
Today's average production 1027boepd net

Over 500 boepd drop in 4 months.
That's a lot of revenue lost.
Can they afford next year's drilling campaign.
Wake up call.

Ginger,
I'm not suggesting that average production was 1478 boepd United oil and gas are categorically stating it in their h2 presentation.
And how do my figures not add up, same as panda's figures and what part of which rns have I read wrong?
So are Panda1's figures also demonstrably wrong or is it not true that you have yourself in a bit of a pickle.
Guess that's the end of the debate then, but can anyone else can do the maths and let ginger know their answer, not you ffd as it's obviously to complicated for you, remember I bought at 5 and sold at 2 and made a whopping profit.

GH
It doesn't say one for jul/aug and you have even admitted that in your qoute so what your saying doesn't make sense.
Also I don't need to email the company about something that is plain to see but as you seem to make things up maybe you should email them instead of posting false info here.
Do you not wonder why JL refused to answer the Q3 question in a straightforward manner.

And as for spreading fud there are a few here who seem to have cornered the market in that department.

Also for clarity we are discussing 'current' production not fy guidance.

So email JL and ask him the question and also ask if he doesn't mind you posting his reply on this bb, infact anyone else could do it as well, anyone going to?

It says in the presentation

"Average production to 31/08/22
1,478 boepd net"

It does not say just for july/august.

Panda,
Figure I got was 1262 so we're not far away in our calcs.
Reckon with decline and no additions then sept/oct must be even lower.
Reason why JL wouldn't say perhaps.

With how JL answered the question about Q3 production yesterday.
I think it was unfair on shareholders, even the ones who don't want to know, that he wouldn't give a figure on Q3 production.
Saying that in the sept presentation they told us the production up to the end of August and they are not going to give a figure until Ash 4 is tied in is just wrong imo, it just wasn't the answer shareholders deserve and not what they were promised (rns 2nd Dec 2020).
This might be one reason why people are giving the wrong figures for 'current' production

Good rns, very encouraging.

Yep agree, not finished yet but clear progress.
Might fall on opening which is understandable if people want to trade a bit which is fine but longer term maybe another opportunity to top up.
Good prospects long term.

See a few posts last night given figures on current production of 1800 and 1900 boepd and fd your post was a bit shambolic and made little sense.
But just wondering how you guys exactly came up with your figures.
Did you work it out from the half year presentation which gave production figures that could be used to work out current production in july/Aug or some other method that maybe one of you could share.
Noting also that Ash 4 is not tied in yet, officially.

With todays presentation.

Just listened to a recording and they seem to be just reiterating the same thing that they said in previous presentations, bit of blah blah.
There were a few good questions at the end.

As far as Maria goes it seems that it the same as before and no decision on what path they will take until they are in possession of the CPR report which they hope to have by end of the year.
So wouldn't expect any news this year as they will have to have a detailed look at the report, which for clarity is independent.

Jamaica, a long road ahead .
Again nothing new, Limited in what they can say, again.
So have no idea when or if anything will come of it.

Production,
Interesting that when asked about production and the decline in production, Jonathan once again refused to reveal exactly what production was in Q3 and just referred to the fact that they told us what the production was at end Sept.
He said he would update when the final rates for Ash-4 have been established but it's not what they promised and its obvious now that they are unwilling to publish Q3 production.
But we know it and it looks like he wants to add Asd-4 rates make it look better but as it's only a few weeks to end 2022 and I expect that yearly production will fall short of guidance.
Jonathan also stated that decline rates are between 15% and 25% that's an eye opener.

No real inroads on any new ventures.

Nothing as far as I recall on when they expect the last payment from Hisbiscus but I may have missed that. But imo they could do with it because I dont think that the warchest is that big and expect cash balance might be lower at end of h2 than h1.

Also the next well is not as straight forward maybe as others as they will be veering off to intercept different targets so the trainees better up their game.

But this is all my opinion and not intended as advice to buy or sell.

Yep Thornback,
The one with Marshall Abbott was a good example.
BL should do the same instead of the easy pre scripted route.

I've told you before that if you believe I bought at 5 and sold at 2 and made a profit then thats fine by me I don't care, believe that if you want, nobody cares.

Glad you owned up to remembering your vile, disgusting post.
Sums you up.

I'll tell you what's weird ffd but also vile and disgusting.
Remember these headings
'Is this the same man with a different name'
'Any help would be welcomed from the LSE community'
Remember the two vile links you posted on here on sep 1st at 19:25 and 19:45 a Friday evening directed towards myself and o2b@c posts that were subsequently removed by admin.
A few might have seen them.
But you own those words and is one reason why I post here.

Weird doesn't even come close.