Member Info for jono44

MJ53

I think that the Q1 update might have included very little if any production from ASD2 well as it had only been in production for the last few days of Q1 so anything would be averaged over 90 odd days, so minimal.
But since then the initial c.462 bopd net to united, significantly above pre-drill expectations,
will have made a big difference to production levels and with the current oil price this is excellent.

Hopefully with the drilling of the ASV-1X exploration well currently underway and expected results early June, if successful could also boost production significantly.

It's great you are asking these questions and maybe others might give their opinions on them, as it will only help us all.

This could be a good time to get in, IMO, as the result of the ASV-1X exploration well could be very significant to production and remember the results of this well is not included in the cautious yearly production guidance.

Carry on with your research and asking questions on here and good luck with whatever you decide.
If for any reason you don't invest in uog would you mind sharing your reason as it might benefit others.
GL

Agree with everything your saying O2.

Time for Larkin to earn his wages and prove he is a CEO capable of building a successful company or is he going to be another ceo of a lifestyle company.

Get a move on, sp should be 5p at least if not more.

£20k buy this morning.
Maybe Mr Dunne starting to increase his holding, and so he should.
Who can blame him at this price.
Anyway whoever bought has got a great price.

Buddies indeed.
Worked with Larkins ex Tullow directors that are running Boru.
Tullow, Irish, must be a Man United supporter.
Jamaica ex tullow asset, maybe something happening, who knows.

Looks like a good signing.

As CFO be interesting to see if he thinks the current sp is too low and adds to his holding.
No mention of any free shares for signing, good, so let see if he buys in open market and substantially more than he currently owns which is a tad small for someone in his position.

We'll see.

Well that figure ties in with the 220 bopd from Panda1, thanks Greeno, BritR.
Think that's an OK amount hopefully getting near brent price for the rest.

This company is so undervalued.

CM94
Have to admit I did see your original post but couldn't put a figure on amount of bopd hedged and after re reading the results still can't.
Panda1 has qouted 220 bopd maybe he could point us to exactly where that number is if he doesn't mind.
They have stated that they have a certain volume hedged at $70 but thats a bit vague,and you quite right in asking the question.

It's a bit disappointing that your emails are being ignored and also the fact someone must have asked for your post to be deleted, why ?,

I hope panda1 is correct and uog are getting top dollar for any oil over the 220 bopd that are hedged but why doesn't the company just say exactly ( maybe they have and I've missed it) how much they have hedged even if its a percentage of production.
Let's be open and honest to shareholders

Graham Martin, chair

'However, we would be very happy to hear from you in whatever manner suits you best. I can be reached via the Company Secretary at info@uogplc.com.'

GL

It funny how sentiment on aim companies can make some very overpriced and others like Uog so undervalued.
Another positive for uog is the management team.
Apart from the pay rise they awarded themselves, which rightfully drew criticism from many people, I believe they are genuine respectable people unlike a few aim directors so we're lucky in that respect.
One thing they could do and that is change their nomad.

Markjenn53, for the record I'm no expert on uog.

Regarding bp debt, if you listen to the shareholders call, link posted yesterday courtesy of Treasures, around 6 mins in David Q talks about the bp payments.
Now the sound broke up a bit just at the point when he was talking about payments to bp in 2022 but think he said around half but not sure.
But we will pay back a lot more than 8m that's for sure but it is declining and will end eventually.

As for production guidance for 2022.
The reason for the lower figure than 2021 is simply down to the fact that some existing well production was declining but they have said that they have stabilised production from these wells but they are producing less than in 2021.

They also, imo, were a bit slow in letting us know the wells were declining, although it was easy to work out and they didn't exactly make it headline news but the information was there for anyone to see.

So for 2022 I think they are taking a more cautious approach to publicly saying one thing and then having to say that they failed to reach their target, better to say they beat their target.
I think they will have over 2000 boepd with the new wells and stabilisation of the older wells.

I think everyone is missing the fact uog is extremely undervalued compared to it's peers.

Hope this helps, but it's just my opinion.

Good Luck.

See that afentra, run by Brian's old bosses from tullow, are going to spend $80-130m on an acquisition producing 4000 bopd and large reserves.
Their current market cap is £32m and their spending £65-100m for the 4000 bopd.
Uog market cap £16m and would like to think that they are producing 2000 boepd or more if new well comes in good but let's stick at 2000..

It will be interesting to see how afentra's sp/mc reacts when they eventually re-list.

Are we undervalued?

Should our mc and therefore sp be a lot higher.
I think so by quite a bit.

GL

CT
Your right about production but I think they are being open and honest about why production levels have fell and how they intend to stabilise production.
In previous years new production never quite replace the decline but now I think it is going to change and hopefully we will see production increase as new wells come online.

Once again had same thoughts about year end cash but belive that 2 days later this increased to $1.2m with the payment from EGPC.
Also don't forget that this is nearly 4 months later and they have the $5m, or will have, from prospex and the crown payment plus good production at high oil prices and don't forget they paid bp $5.4m.

Jamaica is one of those assets that might or might never come good and no one should put any value on it until something happens there.

Good Luck and good to see you posting here again.

Quite happy with results.
Cash at year end only 400k but bumped up to 1.2m on 2nd Jan, if I'm reading it right.
Must take into account the $5.4m paid to bp which is a fair chunk of revenue and don't expect the same this year, anyone know how much is left to pay?

So overall quite happy and with a couple of payments totalling about $5m being added along with 3 months of production, at high oil prices so United must be in a healthy position as they stand today.

I think they are being honest about production and are being Cconservative with their yearly production predictions so as they won't dissapoint, I do expect them to be better.

Happy to hold and add throughout the year as I agree that this is a good time and price to invest in United.

GL

Separate rns today confirming that they will be hosting a shareholders call on Tuesday, final Results day.
I take this as a positive in the fact they are not shying away from shareholders and it gives the impression that they're quite happy to engage.

Maybe the directors are actually earning their keep and might even surprise us with something on mon/tues, who knows.

Results must be good especially with high oil prices, stable and increasing production, and whatever they've been working on, they have been working on something haven't they!
GL

"United Oil & Gas PLC is pleased to announce that the management will host a shareholders call on Tuesday 26 April, 11:30 BST in relation to our Full Year Results for the period ending 31 December 2021.

Click here to register

A confirmation email with details of the dial-in process will be sent to your email address.

Questions can be submitted in advance to investor.relations@uogplc.com or on the call following the presentation."

Available on uogplc.com website.
Don't know why they didn't mention this in yesterday's rns.

Hopefully maybe something new in pipeline before call!

After all United have 6 very experienced and well paid directors and we have to assume they are doing more than just watching and waiting for the monthly cheque from Kuwait Energy Egypt and of course checking that their salary has been paid each month.
Of course they are.

Hopefully the 2021 finals next week should present a clear picture of how well uog are doing and should include another update for 2022.
But I do find if strange that the sp has not climbed a lot higher but that could change very quickly especially as the sp has been at 6p before and could easily be again.
GL

Happy with update.
Looks like production is stable which is very good.
ASD-2 well should bolster production to 1900/2000 boepd.
The ASV-1X currently being drilled and hopefully will add to production early June.
Current cash must be very good with the current price of oil and the recent cash injections.

All good and looking forward to results next Tuesday.

Exactly what they stated in the rns on 15th March.

But they must know the Q1 production and what the average boepd is.
So why not release it, have done so earlier in the past.

Is it good or bad, there's always that uncertain element about production levels and holding back info doesn't help.

Should be rns'd on Tuesday because in my opinion it is definitely price sensitive so should be made public as soon as they are aware of the numbers and they must know,or at least I hope they do.

No rns till at least Tuesday by the look of things.

Can't figure out why they couldn't at least have given us the prodction update, surely not that hard to work out.

Three definite rns's due in April.

Firstly spudding of the ASV-1X well was supposed to spud inthe "coming days" according to the rns on 28th march over 2 weeks now so must be close.

Then quarterly production update usually gets rns'd on a Monday, and was expecting it on the 11th so that can't be far off.

Lastly Final Results on 26th April, that's a definite date.

So all very price sensitive info coming in next couple of weeks, if not more.

The quarterly production update will be released before results.
The asd-2 well production should also be released but only maybe 10 days of its production might be included in Q1 production update.
So 1500 bopd is bottom line anything less will be bad.
1500 will mean production has stabilised and above 1500, not including asc-2, will be encouraging.
Expect rns from 11th April onwards.
Always the same here sp not reacting like I woukd expect and think we are always waiting for written confirmation that production is stabilising.
But always think that when sp goes up and then falls back that someone knows something we don't and thats why we have someone selling all the time.
GL

Don't think anyone really cares what link you post now.
Things not moving in the right direction are they.
Remember you manage to ramp it up to 500p last time before you disappeared.