United Oil & Gas PLC Operational Update (6393P)
September 04 2017 - 2:00AM
UK Regulatory
TIDMUOG
RNS Number : 6393P
United Oil & Gas PLC
04 September 2017
For immediate release
4 September 2017
United Oil & Gas Plc
("UOG" or the "Company")
Operational update
Italy
United Oil & Gas are pleased to announce that the decree
confirming the extension of the Italian Podere Gallina licence to
the 3(rd) February 2018 has now been issued by the Ministry of
Economic Development. This extension will provide adequate time for
the drilling of the Podere Maiar well, currently scheduled for Q4
2017, to be completed. Successful completion of this well will
satisfy the conditions for either moving into another 3 year
exploration period, or, in line with the joint venture's intention
to progress as quickly as possible towards a development, applying
for a longer-term exploitation permit.
UK
Seismic reprocessing is still progressing on both the Waddock
Cross field and the exploration area of the PL090 licence, onshore
UK. This work will provide the Company with additional information
to refine its drilling strategy on the licence. UOG is taking the
time required to ensure getting as accurate a read as possible, and
expects to be able to provide a further update on this work by the
end of October this year.
Portfolio Growth
United Oil & Gas continue to pursue further portfolio
growth, with an active pipeline of opportunities across Europe
currently under evaluation. We continue discussions with other oil
and gas companies and we look forward to updating the market in due
course.
Brian Larkin, CEO commented: "We are very pleased with the
company's progress since our admission to the Main Market of the
London Stock Exchange on the 31(st) July. Operationally, we have
advanced our work programme for 2017 and we continue to evaluate
acquisitions and farm-in opportunities that will create additional
material value for our shareholders."
For more information please visit the Company's website at
www.uogplc.com or contact:
United Oil & Gas Plc (Company)
===================================== ================================
Brian Larkin brian.larkin@unitedoilandgas.eu
===================================== ================================
Optiva Securities Limited (Broker)
===================================== ================================
+44 (0) 20 3137
Christian Dennis 1902
===================================== ================================
Beaumont Cornish Limited (Financial
Adviser)
===================================== ================================
Roland Cornish and Felicity +44 (0) 20 7628
Geidt 3396
===================================== ================================
Murray (PR Advisor) +353 (0) 87 6909735
===================================== ================================
Joe Heron jheron@murrayconsultanta.ie
===================================== ================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
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