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Companies like UOG are very rare on AIM. This is an extremely switched on BOD with very good connections.
Any new investors should keep this high on their watchlist. This is my largest holding. IMO at this price we are still dirt cheap.
With the news today and a further 4 wells to be drilled next year along with the other assets and Italy coming in to production next year this is a no brainer.
Look guys. Let's not get ahead of ourselves. All this talk about multiples of PE etc. AIM companies trade where the volume takes it. If we get the herd after the weekend we can be 7p, can have amazing news 10p and if everyone sells the company will still be the same company but might only be 5p.
Either way this has cracking potential and hopefully will deliver some good christmas presents
The Company's Enlarged Ordinary Share Capital will comprise 619,153,969 Ordinary Shares on Admission.
Yes the share in issue equates to £24m mcap.
Current production 1100bopd and assuming 1100 from new discovery we are talking $48-52m revenue per annum. With further drills this should be trading at multiples of 4p
Can we agree that a strike of this size with 4 more producers even with shares in issue and 8 m debt . This is incredibly cheap.
You can dress it up however you want but the potential is clear to see .
PS PE ratios often don't work in the same way with oilers and is more to do with reserves.
LOL starbuck, yes they are, but I'm just trying to be factual. Number of shares in issue is around 619m so market cap is nearer 24m.
Starbuck you really need to do some serious research. UOG own 22% once the RKH deal is competed at which time there will be 619m shares in issue and debt of £8m with BP.
Several wells are planned across the concession.
That said this could still be a very significant find for UOG but be careful with the ramps.
Nice try the fundamentals are clear to see.
If you can't see the potential here it's time to give up.
Starbuck, it is good news but show me other companies on the 'industry standard pe of 10 - not these days, plus I don't think the market cap of 13m includes the recent placing and issue of shares from the acquisition
Just been corrected 4 more producers planned for 2020.
If they stabalize at 4000 bood that's a cool 22m per annum to uog . 3 more wells similar and you are looking at 90 m per annum.
P/E of ten industry standard and it's 900m cap.
It's 13 m
Clearly you didn't read the placing RNS then .. where they are ..
Mcap is silly low doe that news,expecting a big rise here
NT again
Some strike this . Well done holders. Should see 6p today
NT to but £100 lol
Just a shame this news did not come several weeks ago, now the greedy City sharks have got an even better deal - grrrr!!
It is what else it opens up for me which could be very significant as this 50m find seemed a bit of a surprise .
Might be transformational for shareholders after all lol.
3 more producers like this . Even if the rates dropped back 50percent be production revenue of over 100m per annum. 22 percent to United oil n gas .
This is cheap buy
Where are all the 3p placing punters - would have thought they'd be filling their boots with sells. Methinks this is a humdinger of a strike....
Excellent rns bought
On 23 July 2019 United Oil & Gas PLC (AIM: "UOG"), the AIM traded oil and gas exploration and development company, announced the proposed acquisition of Rockhopper Egypt Pty Ltd from Rockhopper Exploration Plc. The acquisition will include a 22% non-operating interest in the Abu Sennan concession onshore Egypt. United issue the following statement pursuant to media reports in Egypt and some significant share price movement since market opening today.
Brian Larkin CEO, United Oil and Gas PLC:
"It has been very encouraging to see the positive results so far from the ASH-2 well, with 50m of net oil pay recorded and flow rates of 7,000 bopd achieved on test. However, with testing still in progress, it would be premature to draw any further conclusions on the oil volumes associated with the well, or the sustainable production rates that may be possible from it. It is worth emphasising that these could be significantly lower than the initial test, and we will keep the market updated as more information becomes available from the ongoing well-testing."
3.9 being hit now
4p to buy I'd say it's being bought up
BOOOOM!!
bags here i hope