Member Info for jono44

Treasures, your right as they did say Q3/Q4 in june update but think it was originally Q3, but now no Q3 mentioned so it is slipping and probably no decision on it for a while.

Don't think it does include the $1m from Hibiscus because they state the remainder is due before end of year so they haven't got it yet.
Wondering if they haven't paid all of this months bills yet and of course Brian's wages and once they do it might look different.
Just don't understand why they would throw that statement in, strange!

Yep, jamaica, same old story.

Might have been different if Tullow hadn't walked away.

Yep got to agree cash position is good but only because of the divestments and not Egypt.
Did find it strange to state in rns that cash balance was $4.7m on 23rd September, last Friday, and wonder why they did that. Makes me think it was only to make it look good and wonder if it will look as good next week!

As for jamaica isn't it just the same story and how do you know the 'quality ' of the interested parties, have they stated who is interested.

Maria report has been pushed back to Q4 from Q3, never a good sign.

Next 2 drills are very important but it does seem to be a recurring theme that we are always waiting for the next drill to be our saviour.
But as always production guidance is once again revised lower.
And it's hard to believe this is the reason

"This is primarily due to rescheduling of the 2022 drilling programme in order to incorporate the results of seismic reprocessing prior to drilling the high impact ASH-4 development well which has now commenced drilling

Here's me thinking it was probably due to natural production decline and the inability to replenish production with new wells coming online, so let's hope Brian doesn't do any more rescheduling!

I'm of a different opinion.
What positives did you see.

People selling at 1.33p.
Not filling me with confidence for tomorrow.

02 agree about ffd making incorrect statements.
Unfortunately these statements were not restricted to united oil and gas.
Some were very personal and especially the defamatory statements he posted about you and me on 1ST Sept.
I think you had him on filter which is probably just as well as I was digusted with the posts and they were taken down by admin and I don't know why he didn't get banned.
Have screenshot of the posts just to remind myself of his character.

Have a nice weekend and hopefully Tuesday brings some good news.

Going to be interesting on Tuesday.
Will there be any news beforehand, who knows.

Jamaica news could be something but unlikely.
Maria, waiting for the CPR which is supposed to be completed by Q3 so there could be news on that but more likely sometime in October is being more realistic.
M&A always a possibility but think it might involve the need for more money and not a good time when sp is on the floor.

Production is the most important just now as I expect there might be an adjustment to the FY guidance especially as there has been no news on AJ-14, is it producing or not?
Maybe next week but don't think the 'expected before drilling' 66 bopd will stop the fall in production, maybe 600 might have had a chance but 66 won't come close, imo.
This will put a strain on the cash balance and will be looking closely at the wording in the rns.

Q4 2021 average production 1838 boepd
2 new wells in 2022 added 594 boepd
Total 2432 boepd
H1 2022 average production 1552 boepd.
Loss of 880 boepd.
Interesting.

Blimey it's hot in this room, 02 open a window to let some air in will you, thanks.

You really don't understand how things work and are completely unable to work out exactly what gets reported in an rns.
Uog do not have any production from AJ-14, they might get 66 bopd but might not, so don't make out that they have and that they will get $2m from it because thats pure speculation and misleading.
As it stands Egypt is loss making and with AJ -14 being a dud will only make things worse.
The other worrying thing is maybe the Operator kuwait energy, might be rethinking their strategy because they won't keep drilling if they can't keep production at a profitable level.
These are valid facts and not speculation unlike other's fantasies.

You can't handle the truth.

JN

Targeted flow rates giving 66 boepd is an absolute joke.
They need about 600 boepd to stem the decline in production and that's net to uog.
Do people understand what's happening because it seems to me some are clueless and are quite happy to qoute what's said in the rns but are unable to comprehend exactly what is being said.

Best to ignore the ' cross trade' for 31k, if looking at trades to gauge sentiment.
AJ-14 is not producing but if if does it will be 66bopd net to united not 300 bopd.
But saying 300 looks and misleads better than 66.

Quiet here this morning so have decided to remove filtered.

Todays news imo is terrible and that's putting it mildly.

In March the last well gave 462 boepd to United and even that couldn't stem the decline in production.
Today out of the blue they said that AJ-14 might if they can overcome borehole issues, and there is no guarantee they can, produce 300 bopd in line with pre drill estimates.
Now where did they say they only expected 300 bopd or in reality 66 bopd net to united.
Just saying that now so if they do manage to get 300 bopd then they can say ' we are pleased' to say that the drill came in as expected, rubbish.
Why did they even bother, 66 boepd is just a joke and more than likely production has declined by that amount as I write this post.

United lost about $1.2m in H1, if divestment money not counted, going to be worse now and definately need to rethink their interest in Egypt as it will eat away at the cash balance.

Can see now why 2 directors jumped ship.

Not good is it.
Time to step away from Egypt it's going to drain the bank balance.

Good link Matt.
Management took a gamble and it hasn't gone to well.
There are a few scenarios, the good the bad and the very ugly
Wonder if they'll give an update on what current daily production level is in the interims, probably not.

Obviously reserves won't change, Malcy at his best.
But it doesn't matter how much they have in reserves if they can't get to them .
Management at fault here by looks of things.

And 40 nights.
Times up.
What's the craic Brian.

Just shows Malcy doesn't have a clue if he thinks production, worst case, will be 11000
boepd.
What annoys me is that this guidance is for Full Year daily average production not up to date daily production so 11000 boepd is average over the whole if 2022 .
So current production must be 7000 boepd or lower.
Trying to make it look better than it is.

40 days
Time for some sort of update on AJ-14.

Hayden should have stayed as Ceo and Clarke made Coo,
Don't like Kelly either.
Why get rid of original team.

Be nice to just hold steady for a few days