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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"
Oil rig
Optiva has a ‘buy’ stance on United shares, which currently change hands for 3.85p each

Optiva Securities analyst Barney Gray has a risked valuation of 11.4p per share for United Oil & Gas PLC (LON:UOG) on a fully diluted basis, while noting that this includes no value for Benin or the provisionally awarded 31st Round Blocks.

In a recent note, Gray said: “Although we reserve the opportunity to adjust our assessment in the event of the conclusion of potential farm-in opportunities, we note that that our unrisked valuation for United is over 51p per share at this stage, representing major potential upside to the company.

“This could be augmented further should United’s most recent acquisitions demonstrate significant promise upon further analysis.”

Optiva has a ‘buy’ stance on United shares, which currently change hands for 3.85p each.

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