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The latest announcement is out from United Oil & Gas Plc ( (GB:UOG) ).
United Oil & Gas has begun the first stage of its Surface Geochemical Exploration programme on the Walton Morant offshore licence in Jamaica, launching multibeam echosounder operations from the R/V Gyre to produce high-resolution seabed imaging and depth mapping over priority areas. The staged programme, which will progress to heat flow measurements and piston coring with subsequent geochemical analysis in the US, is designed to confirm the presence of a working offshore petroleum system, materially de‑risk the licence’s prospectivity and strengthen the company’s position in ongoing farm-out discussions, with initial laboratory results expected from about one month after completion of the offshore survey.
The most recent analyst rating on (GB:UOG) stock is a Hold with a £0.16 price target. To see the full list of analyst forecasts on United Oil & Gas Plc stock, see the GB:UOG Stock Forecast page.
Spark’s Take on GB:UOG Stock
According to Spark, TipRanks’ AI Analyst, GB:UOG is a Neutral.
The score is held back primarily by weakened financial performance, with revenue at zero and continued losses, plus uneven cash generation and declining equity. Technicals provide partial support as the price is above major moving averages with positive momentum. Valuation contributes limited clarity due to the negative P/E and no dividend yield data.
To see Spark’s full report on GB:UOG stock, click here.
More about United Oil & Gas Plc
United Oil & Gas is an AIM-listed oil and gas company with a development asset in the UK and a high-impact offshore exploration licence in Jamaica. Led by an experienced management team and partnered with established industry players, the company focuses on growing a full-cycle portfolio through optimisation of existing assets and targeted acquisitions.
Average Trading Volume: 50,994,264
Technical Sentiment Signal: Sell
Current Market Cap: £5.9M
For an in-depth examination of UOG stock, go to TipRanks’ Overview page.