Member Info for jono44

No it won't absolute nonsense and you know it so why say it

For goodness sake are you incapable of telling the truth.

If anybody cares to read the H1 report, an understand it which isn't that difficult, uog actually would have made a loss of in H1 if it wasn't for the money received from divestments and you know it because I've explained it to you before.
So no, cash is not building because they are not producing enough to cover capex and opex costs.

Fd you make me laugh, do you think I make public every trade I do.
Ist invested in uog a long time ago and have bought and sold on numerous occasions.
But never tried to mislead others like you seem intent on doing.

Boy you guys must be glued to your screens.
Expected insults from fd as usual.
Greg try being honest with your posts, it would give you more credibility and don't stoop as low as your pal.
Also where have you been these past few months only one or two post but now can't seem to stop.
And by the way I hope that Ash 4 has a good result for genuine holders and it won't make me jealous one bit but just be honest not to much to ask is it.

Greg when you copy and paste you really should include the full statement about Ash 3 and not cherry pick certain parts of the rns.
Shameless the way you and your new found buddy are spreading mis leading information for your own personal gain with complete disregard to other investors who should be aware that the info you are posting is not always the full story.

People should be aware of rampers, double check their posts, most importantly dyor and good luck.

SB there's a difference between debt and net debt.

Not going to ignore you anymore.
Insult came as predicted.
I am not the one lying.
What did bod say when you asked why they did not include the Q3 update in today's rns as I presume that you had the intelligence to ask, but you never did you.
Everything I posted about production, cash dwindling etc is true and you don't like it but its the truth.
You on the other hand just post insults and nonsense, obviously cant think for yourself and has done no research but bought in hoping for a quick return, post drivel to try and pump the share.
Seen your type many times over the years and always ends up the same way.

"In order to give greater visibility to shareholders, United will, from January, report production levels on a quarterly basis."

From dec 2020 stated in an rns.

Investors should be asking questions of the bod and not squabbling with other posters.
Ask yourself why they never included this information in today's rns.
They know the numbers so why don't they want you to know.
Sometimes you need to look at what's not in an rns as much as what is.
No doubt some idiot on here will reply with an insult.
And for God's sake don't take any advice from Malcy or Marcy as some call him.

Who's Marcy?

Hi T,
This is from Optiva in their Maria report.
'In order we assume around US$1 million is spent on studies in 2022 and an additional US$2 million in 2023. We assume development capex of US$75 million is spent in 2024'

Your right to highlight bp repayments, think around $200k a month till Dec 2023.

But it just emphasises my point on how the cash balance is going to decline if they don't do something quickly.
In H2 we will pay bp $1.2m, then in 2023 $2.4m, then there's the spending on Maria as stated in Optiva report and then there's Jamaica etc.
This is going to eat into cash because EGPC is not going to pay for everything as is obvious in the H2 report, if read properly the info is there.
ASH 4 needs to be a gusher.

Hi treasures,

Agreex that if Ash 4 comes in good and it has to be very good then fy guidance could be achieved.
The worry for me is the elephant in the room and thats the decline in production which I find quite alarming.
For example we ended up with 2021 fy production averaging 2327 boepd and now daily production around 1250, uog haven't told us officially q3 production for reasons that they only know, so I use my own estimate and want to make that clear. That's a big drop.
The other thing is that Asd-2 was a success and came onstream at 462 bopd at end of march and yet even with this addition the production has really declined.
Even with asd 2 q2 production came to1537 boepd, q1 was 1567 boepd so you can see that's really a drop of 492 boepd over 3 months( adding 462 to q1), not good.
This is why I think egypt isn't able to cover all uog cost and the cash will soon get eaten up.

Maria might come good but let's not kid ourselves, never count chickens....
We won't get the cpr until end of year so nothing will happen until 2023 but there is no guarantee that anything will happen and if I remember correctly, no doubt someone will correct me if I'm wrong and I might well be, it will take about $70 m to drill and bring to production so need a company with deep pockets to put up the capital.

I think uog will need to find another asset that they can buy into, one that is producing and with no risk, before cash dwindles.

Anyway good luck but please dyor.

Treasures,

To achieve full year guidance at the lower end would mean 1450 boepd or year total of
529,250 boe.

Up to 31st August they produced an average 1478 boepd over 243 days so up to 31st august a year total of 359,154 boe.

So that leaves 170,096 boe to produce between Sept to Dec to meet FY guidance or 1450 boepd.

Pretty sure Q 3 production will be around 1250 and as its now near end of Oct with little chance of any more production being added I'm going to assume sept/oct will produce 76250 boe.

If we do the math it leaves 93,846 boe left to get to FY guidance.
So for nov/dec average production would need to be 1538 boepd.
This is quite achievable if Ash 3 comes in good.

These are just my take in things but hard to tell how big the natural decline is on existing production, and my maths might be completely wrong, so dyor.
Be good if someone else could do the same just for comparison.

Thanks Treasure, what a difference to aggression.

Think ASH 3 came online around 900 boepd but not sure what it is producing now due to natural decline.
But if AHS 4 comes in at a similar rate in will push up Q4 production but only over 2 months as I don't expect any production before end Oct.
Also the last well probably won't be producing this year providing it is a success, but it is an exploration well and the last exploration well was a duster.
Worried about money in kitty as I don't think egypt can pay for all costs especially now as last two well are not contributing.

Will look at production numbers later and post my opinion.

Thanks again good to have a discussion instead of reading lies.

Thanks,
The 300 boepd is gross output so if and it's starting imo to look unlikely they manage to get oil flowing from AJ-14 it would mean 66 boepd to Uog.

As for cash very unlikely they have 5 million.
I have already posted that as they only had the money from divestments, $3.8m, left at end of June the cash balance would effectively have been zero.
$1.2 m still to get from divestments in H2 so that might help prop up the balance sheet but no word of that either.
In fact they started on Jan 2nd with $1.2m, so in reality they lost money in H1 if you ignore the money received from the divestments.
I also asked previously if anyone could argue these figures but nobody has, plenty of mindless, pointless posts but nothing constructive.
Wish I hadn't reminded myself of those figures.

Are you still confident?
If you are maybe you could give your reasons.

I believe Q3 production figures will be low as I've already stated and not reporting it just looks to me like they will include it in an rns for Ash 4.
Not very transparent in my opinion.
No news on AJ-14, they've been testing it for 12 weeks!
So losing confidence in the bod to
Think I've already outlined why in previous posts.

55 days to complete which includes testing etc, TD might have already been reached.

Ash 3 took 5 weeks to reach TD but Uog never informed the market till 1 week later.
Presuming Ash 4 to be a similar drill, has it already reached TD, maybe even last week.
Trainees have been drilling for 6 weeks

And what's happening with AJ-14?
Q3 production?

"Commitment to being transparent on what and how we report and what can be achieved"

Really!
There's a difference between saying something and actually doing it!
Losing confidence.

It was a great rns.
Production from the East Pepper tie expected before end of Oct so hopefully this week.
Also
RCS-1 and RCE-1 Workovers to be completed early November.
RCE-3 and RCE-4 Development Drilling starting in December.

Looking forward to next 'lovely rns'.

Really annoying when a company deliberately withholds information.
They released 2021 Q3 production update on 11th Oct last year!
Is it price sensitive information?
They obviously don’t think so because if it was then they would be obliged to issue an rns.
So better to get it out of the way before Ash 4 reaches td, which will be this week followed by test results next week providing trainee rig crew gets their act together.
Trainee rig crew 0 Dusters 2.

Still nothing!

Ash 4 must be close to TD if not already there.

Q3 production update, don't tell me they don't know what the average production was for july/august/Sept.
They basically already told us what total production was in july/August so expect a figure around 1260 boepd for Q3.

Get the feeling the bod are sitting on their hands,fingers crossed, hoping Ash 4 comes up trumps so theyc can slip in Q3 figure in the same rns and nobody will notice.
Maybe if they are confident Ash 4 reaching td over weekend they might rns q3 result after hours tonight so it's forgotten about by Monday and maybe not, just musing.