United Oil & Gas: Stockbroker target sees “material upside” as new Egypt assets advance
“Material upside comes both via exploration and infill wells," Cenkos said in a note.
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: Broker's valuation suggests substantial upside after Egypt acquisition completes
United last week completed its deal to acquire 22% non-operated stake in the Abu Sennan concession.
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
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