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Oil Capital
EPIC: UOG
Market: LSE
52-week High/Low: 6.50p / 2.50p
Sector: Oil & Gas
Market Cap: 15.14M
Website: uogplc.com

United Oil & Gas (UOG) is an independent oil & gas start-up established in 2015.

We are a former Tullow Oil team, with a strategy to acquire assets where the management team’s experience can drive near-term activity to unlock previously untapped value.

The aim is to build a portfolio of production, development and low-risk appraisal /exploration in Europe, whilst remaining alert for...

United Oil & Gas Plc

uogplc.com

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Big picture - Why invest in United Oil & Gas Plc

United Oil & Gas Plc Snapshot

RECENT ACTIVITY

Two deals have been completed since August 2016, providing UOG with a material stake in two licences: PL090 in the Wessex Basin, onshore UK, and Podere Gallina in the Po Valley region of onshore Italy.

Both of these licences contain low-risk development projects with near-term drilling activity and exciting follow-on exploration targets (see more).

In July 2017, UOG was admitted to the London Stock Exchange’s Main Market via a reverse takeover of Senterra Energy plc.

Senterra Energy Plc was originally formed to take control of, or invest in, businesses within the oil and gas sector, favouring companies with scope for growth and attractive returns for shareholders.

Since the completion of the reverse takeover, the company is now listed as United Oil & Gas Plc, with the ticker UOG.

NEXT STEPS

The Podere Maiar redevelopment well on the Italian Podere Gallina licence is scheduled for November 2017

Seismic reprocessing ahead of well-planning is continuing on the UK PL090 licence. Drilling is being targeted for 2018

In addition to the existing licences, United Oil & Gas Plc continues to pursue further portfolio growth, with an active pipeline of opportunities across Europe, Latin America, and Africa currently under evaluation

UK & EUROPE


In Europe, United Oil & Gas are aiming to create value through building an actively managed portfolio of production, development, and low-risk exploration/appraisal assets.

PODERE GALLINA LICENCE, ONSHORE ITALY (SELVA)

Introduction

In July 2017, United Oil & Gas (UOG) completed a farm-in agreement with Po Valley Energy (PVE) to acquire a 20% working interest in the Podere Gallina Licence in the Po Valley region of Italy. The licence contains the currently shut-in Selva gas-field as well as exciting exploration opportunities.

The Podere Maiar-1 (PM-1) well was completed in December 2017, and successfully found a commercial gas accumulation updip of the previous wells on the Selva field.

Podere Gallina licence location and neighbouring fields

Selva Field and the Podere Maiar 1 well

The Selva Gas Field produced over 83 Bcf before being shut-in in 1984, when it was still producing at >0.9Bcf per year with no apparent water-cut.
The Podere Maiar 1 (PM-1) well targeted the same productive reservoirs, updip of the previous wells
The PM-1 well was completed in December 2017 after encountering 41m of net gas pay in excellent quality C1 and C2 sandstone reservoirs of the Pliocene Porto Garibaldi Formation.
The well was tested in January 2018. The lower, C2 reservoir, reported a peak flow-rate of ~150,000scm/d (875boepd) on a 3/8” choke. On a separate test, the upper C1 reservoir, flowed at a peak rate of ~130,000scm/d (750boepd), also on a 3/8” choke.
Although there is limited seismic data over the field, the large number of wells on the structure constrain the reservoir edge, and coupled with the recent PM-1 well results indicate gross base-case recoverable volumes of 18Bcf (3.1mmboe).

For more information please click here 

PL090 LICENCE, ONSHORE UK (WADDOCK CROSS AND BROADMAYNE)

Introduction

In August 2016, United Oil & Gas acquired First Oil’s stake in the PL090 licences, onshore UK. These include an existing onshore field and access to significant exploration opportunities.

The PL090 licences are situated in the Wessex Basin – a long-established productive basin that contains Wytch Farm, the largest oil-field in onshore Europe.

PL090 licence location and neighbouring oil-fields. The Wytch Farm, Wareham, and Kimmeridge Fields are all operated by Perenco.

For more information please click here 

P1918 LICENCE, OFFSHORE UK (COLTER)

Introduction

In January 2018, United Oil & Gas acquired a 10% stake in the P1918 licence from Corallian energy, with an option to take a further 10% stake before the end of March 2018. The licence includes a discovery in a well-defined structure with significant updip potential still to be targeted.

The P1918 licence is located offshore southern UK, adjacent to Wytch Farm, Europe’s largest onshore oil field.

Introduction

In January 2018, United Oil & Gas agreed a farm-in option with Swift Exploration Ltd and Stelinmatvic Industries Ltd to take 24% equity in Block 49/29c of the UK Southern North Sea (Licence P2264). This contains the low-risk Acle prospect, which sits in the middle of the prolific SNS Rotliegend gas play fairway.

 

P1918 licence location and neighbouring oil-fields. The Wytch Farm, Wareham, and Kimmeridge Fields are all operated by Perenco.

For more information please click here 

P2264 LICENCE, OFFSHORE UK (ACLE)

Introduction

In January 2018, United Oil & Gas agreed a farm-in option with Swift Exploration Ltd and Stelinmatvic Industries Ltd to take 24% equity in Block 49/29c of the UK Southern North Sea (Licence P2264). This contains the low-risk Acle prospect, which sits in the middle of the prolific SNS Rotliegend gas play fairway.

For more information please click here 

 

LATIN AMERICA AND AFRICA


In Latin America and Africa, United Oil & Gas are aiming to access opportunities with low Capex entry costs and potentially transformational upside.

Introduction

In November 2017, United Oil & Gas agreed to farm-in to the Tullow Oil operated Walton Morant licence, offshore Jamaica, at a 20% equity level. The Walton Morant licence extends for over 32,000km2, and with numerous plays and prospects already identified across three separate basins, the opportunity provides United with exciting access to high-risk / high-reward frontier exploration.

Tullow has committed to the acquisition of 2,250km2 3D seismic data in Q2 2018, focussed on this high-graded Colibri lead. United will pay it’s 20% share of these acquisition costs

A drill-or-drop decision is required by end-2019, and given positive indications on the seismic, an exploration well would be drilled in 2020.

For more information please click here

 

 

Email [email protected]

Dublin Office

9 Upper Pembroke Street
Dublin 2
Ireland

London Office

200 Strand
London
WC2R 1DJ
UK
Tel: +44 20 7539 7272

Italian Office

Viale Gioacchino Rossini 9
00198
Rome
Italy

Auditors & Reporting Accountants

Hacker Young
Quadrant House
4 Thomas More Square
London
E1W 1YW
UK

Public Relations

Murray Consultants
40 Baggot Street Lower
Dublin 2
Ireland

Company Solicitors

Kerman & Co LLP
200 Strand
London
WC2R 1DJ
UK

Broker

Optiva Securities
2 Mill Street
London
W1S 2AT
UK

Registrar

Share Registrars Limited
The Courtyard
17 West Street
Farnham
GU9 7DR
UK

Financial Advisor

Beaumont Cornish
29 Wilson Street
London
EC2M 2SJ

 

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