Proactive weekly oil & gas highlights: United Oil & Gas, Bahamas Petroleum, Eco Atlantic, ADM, 88 Energy, Mosman O&G ...
It was a busy week for London's small-cap oilers with project updates, fundings and results statements keeping investors engaged
Company
United Oil & Gas PLC
LON:UOG
United Oil & Gas is a full-cycle oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration assets across Egypt, UK and a high impact exploration licence in Jamaica. The business is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions.
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United Oil & Gas completes Rockhopper Egypt acquisition
The acquired asset has added some 1,700 boepd net to United and a new programme of wells promises the opportunity to increase output further.
United Oil & Gas has “many near-term value drivers”, says Cenkos
The broker said the oiler had “several upcoming near-term milestones which have the potential to deliver significant shareholder value”
United Oil & Gas expects Rockhopper Egypt acquisition to complete on 28 February
The firm said it had written consents from the Egyptian General Petroleum Corporation and the Minister of Petroleum and Mineral Resources for the acquisition
United Oil & Gas upside highlighted by stockbroker after Egypt well exceeds expectations
“This [well] has exceeded pre-drill expectations significantly and represents very good news for United,” said Barney Gray, analyst at Optiva Securities.
United Oil & Gas reveals production boost in Egypt ahead of deal completion
"Abu Sennan is a producing asset with considerable upside potential,” said Brian Larkin, United chief executive
United Oil & Gas awaits farm-out as Tullow agrees extension for ‘drill or drop’ decision in Jamaica
An extension, out to 31 July 2020, comes as Tullow reviews its entire business and as interested potential farm-in partners mull exploration data for the exciting Jamaica wildcatting venture.
United Oil & Gas receives environmental approval for Italian gas project
It paves the way for the final grant of a production concession by Italy's Economic Development Ministry
United Oil & Gas urges caution as excitement builds over ASH-2 well
The well hit 50m of net oil pay while flow rates of 7,000 bopd were achieved on test.
United Oil & Gas hails drill results from incoming Egypt assets
“Abu Sennan has a historic drilling success rate of over 80% and rising."
United Oil & Gas completes sale of Crown discovery acreage in North Sea
Brian Larkin, United’s chief executive, said: “We have, in a short space of time, added significant value to Licence P2366 and realised a significant return."
Archive
Lamprell slides as it agrees extension to its current debt facility
A look at the day's major movers, including Senior, Senior, Fire Angel, Great Western,United Oil & Gas, Rockhopper and Predator
United Oil & Gas raises US$6.25mln, share trading resumes ahead of Rockhopper Egypt completion
"The Rockhopper Egypt Acquisition is a transformational development step for our company,” said Brian Larkin, United O&G's chief executive.
United Oil & Gas hands backs two licence blocks in English Channel
Most of the Poole Bay area is now under landward jurisdiction following the boundary amendment.
United leaps ahead with Rockhopper Egypt acquisition to become "full cycle oil and gas company"
"We are confident that when we are re-admitted to AIM, later this year, we will have achieved our goal of creating a full cycle oil and gas company with exceptional prospects for growth,” said chief executive Brian Larkin
United Oil & Gas looks forward to first production as it awaits Rockhopper Egypt deal completion
“United will return to the market a significantly bigger company, with producing assets to complement our already impressive portfolio,” Brian Larkin said.
United Oil & Gas lands four blocks in second successful North Sea round
Covering 500 square-kilometres, 14/15c, 15/11c, 15/12a, and 15/13c are described as “highly prospective” with one target, Zeta, estimated by the company to contain 90mln barrels of in-place oil
United Oil & Gas notes Rockhopper update on Abu Sennan concession following acquisition agreement
In July, United unveiled a US$16mln deal to acquire Rockhopper’s 22% stake in Abu Sennan
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United Oil & Gas set to buy Rockhopper Exploration Plc’s Egypt assets for US$16mln
"This is a truly transformational deal for United,” said Brian Larkin, chief executive.
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United Oil & Gas to sell North Sea blocks for up to US$5mln
"Our primary goal as a management team is to deliver value for our shareholders,” UOG chief executive Brian Larkin said.
Optiva has risked valuation of 11.4p per share for United Oil & Gas on a fully diluted basis
Optiva analyst Barney Gray said "our unrisked valuation for United is over 51p per share at this stage, representing major potential upside to the company"
Archive
Proactive news snapshot: Redx Pharma, Feedback, Bango, SIMEC Atlantis …
A glance at some of the day's highlights from the Proactive Investors newswire
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FTSE 100 closes shade higher as investors still fret about trade
On Wall Street, stocks were heading higher, through albeit with not much gusto
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Proactive Weekly Oil & Gas highlights: Anglo African Oil & Gas, United Oil & Gas, Hurricane Energy ...
There was the usual mix of project updates and results statements.
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Go-Ahead tracks up as it makes interim CFO permanent
A look at some of the biggest risers and fallers in London on Wednesday
United Oil & Gas lands new North Sea acreage in UK licensing round
“The low-risk exploration we have added in the North Sea blocks is significant in its own right, but also adds value to our neighbouring Crown licence," said Jonathan Leather, United's chief operating officer.
Investments and investor services
FTSE 100 closes near flat as US ADP jobs report shakes confidence
The UK blue-chip share index finished up around four points at 7,218
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Management changes, fundraisings, and financial results were among the highlights this week in the small cap oil and gas sector this week
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ANGLE points upwards after successful breast cancer trial outcome
A look at the day's major movers, including Karelian, UniVision, Cambria Africa, Bagir, Nautilus Marine, Stride Gaming and Patagonia Gold
United Oil & Gas hires David Quirke as new chief financial officer
“We are building a team that will enable United to fulfil the undoubted potential of our asset base and to further grow this company," said Brian Larkin.
Investments and investor services
FTSE 100 closes down after latest Trump trade war stunt
The Dow Jones suffered a 300 point fall in the first half hour of trading
Investments and investor services
Immotion commotion as it signs virtual reality deal with a Florida zoo
A look at the day's major movers, including Aptitude Software, Watches of Switzerland, Veltyco, Johnson Matthey, Nuformix, HemoGenyx, De La Rue and Real Good Food
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Proactive news snapshot: HemoGenyx Pharmaceuticals, Cadogan Petroleum, BigDish …
A glance at some of the day's highlights from the Proactive Investors newswire
United Oil & Gas’s Brian Larkin delighted with “year of considerable progress”
“The progress made last year builds on United's already strong start and has been continued into 2019," the United chief executive said.
Investments and investor services
FTSE 100 regains ground at the close
The FTSE 100 closed 32.86 points higher at 7,218.16 on Thursday, just easing off its late afternoon high of 7,235
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Proactive weekly oil and gas highlights: United Oil & Gas, Union Jack Oil, Anglo African O&G ...
It was another interesting week in the oil and gas sector with project updates, funding news and new well programmes starting up.
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Exillon Energy plunges after it calls in advisors to go over its accounts with a fine-toothed comb
A look at the day's major movers, including Bidstack, EU Supply, ReNeuron, Inspirit Energy, Prospex, Ferrexpo and Hastings Group
Archive
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United Oil & Gas boosted by Italian resource upgrade
It confirms 2P reserves, contingent and prospective resources at the Podere Gallina licence.
Jersey Oil and Gas’s recent share plunge could be overdone, along with other small cap oilers
Jersey's dry well result from the Verbier project in the North Sea sent its share tumbling on Wednesday afternoon
Archive
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China New Energy powers higher as director tops up his stake
A look at the day's major movers, including Alpha Real Trust, Global Petroleum, Zinc Media, GCM and Oxford Metrics
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Proactive news snapshot: Symphony Environmental Technologies, Alba Mineral Resources, OptiBiotix Health …
A glance at some of the day's highlights from the Proactive Investors newswire
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FTSE 100 closes Friday higher and gains on week as investor growth fears ease
The footsie closed up nearly 43 points at 7,228, while FTSE 250 gained almost 208 points at 19,491
Archive
Proactive news snapshot: IQ-AI, IGas Energy, OPG Power Ventures, Shanta Gold …
A glance at some of the day's highlights from the Proactive Investors newswire
United Oil & Gas expands portfolio with ‘potentially transformational’ frontier exploration opportunity in West Africa
"We are delighted to take a position in this exciting new opportunity,” said Brian Larkin, United chief executive
Investments and investor services
FTSE 100 clings on to gains as rumours swirl of visit by Theresa May to the Last Chance saloon in Strasbourg
Straight from the horse's mouth? Not really. It was the deputy head of the Irish government, Simon Coveney, who confirmed that Theresa May will fly to Strasbourg this evening “to try to finalise an agreement, if that’s possible”.
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Proactive weekly oil and gas highlights: 88 Energy, United Oil & Gas, Sound Energy, Victoria Oil & Gas ...
Well updates and takeover talk provided some of the week's biggest stories.
United Oil & Gas fares best as Colter consortium mulls next steps
For United, the well off Bournemouth's sandy shore was always one potentially valuable asset among a portfolio of others
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Petra Diamonds sparkles after another discovery at Cullinan
A look at the day's major movers, including Big Sofa, Reachforentertainment, Northamber, InfraStrata, GLI Finance, 7digital, Brave Bison and Baron Oil
United Oil & Gas to evaluate commercialisation options as Colter appraisal completes
"The Colter appraisal campaign has delivered a new discovery and significantly increased our understanding of the Colter prospect,” said Brian Larkin, United chief executive
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Mirror and Express newspapers owner Reach rises after increase in adjusted profits
A look at the day's major movers, including IOG, Diurnal, Audioboom, RTC, Baron Oil, United Oil & Gas, Reabold Resources, Andalas Energy, DeepMatter and Fusion Antibodies
United Oil & Gas shares rise as ‘bonus’ discovery is made in Colter well
"Initial results from Colter have delivered a bonus in the form of an additional hydrocarbon structure, which has excellent initial oil and gas shows,” said Brian Larkin, United chief executive
Investments and investor services
FTSE 100 closes higher but only just as sentiment boosted by trade progress
The UK blue-chip index finished around five points ahead at 7,183
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PCI-PAL surrenders some recent gains as half-year losses widen
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United Oil & Gas's Jamaica exploration prospect upgraded by expert
“This is a standout outcome, as it is not uncommon for volumes to be downgraded when structures, that have previously been identified on 2D seismic, are mapped on a 3D dataset”
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On the Beach brings a ray of sunshine to its AGM
A look at the day's major movers, including Fox Marble, PCI-PAL, WPP, Petrofac, Prospex and Crimson Tide
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Proactive news snapshot: United Oil & Gas, Kromek Group, Accesso Technology …
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United Oil & Gas marks first reserves at Selva gas field
United’s share amounts to 2.7bn cubic feet and it represents the company’s first reserves
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FTSE 100 joins global equity markets to close lower
The UK index of leading shares closed down over 79 points to 7,093, while the FTSE 250 lost over 274 points at 18,799
United Oil & Gas spuds Colter appraisal well in Wessex Basin
The oil & gas explorer said the operator Corallian Energy Limited had spudded the well at around 10.10am on Wednesday
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