United Oil & Gas PLC Update on Walton-Morant Licence (5259J)

TIDMUOG

RNS Number : 5259J

United Oil & Gas PLC

04 April 2018

4th April 2018

United Oil & Gas Plc

Update on Walton-Morant Licence

United Oil & Gas Plc ("UOG", "United" or the "Company"), the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce commencement of seismic acquisition on the Tullow Jamaica Ltd ("Tullow") operated Walton-Morant licence, offshore Jamaica.

Further to the announcement of 2 March 2018, the Company is pleased to report the commencement of seismic acquisition in the Walton Morant licence, offshore Jamaica. "Polarcus Adira", a vessel contracted to acquire 2,250km(2) of 3D seismic, arrived in Kingston on Friday 23 March 2018. After a quick turnaround, the vessel departed for deployment on the Sunday 25 March 2018, with data acquisition successfully commencing on 3(rd) April 2018.

The seismic acquisition is expected to take approximately 8 weeks and is centred on the high-graded Colibri prospect.

United Oil & Gas Plc, Brian Larkin

"We are very pleased with progress to date on our Jamaica licence and we look forward to seeing the initial results. We will update shareholders on completion of the survey in approximately eight weeks. In addition, we continue to evaluate similar high impact licences in neighbouring regions, which we believe could offer transformational growth opportunity, as we look to develop our business".

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

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@murrayconsultants.ie 
=====================================  ================================

Editor's Note:

United Oil & Gas plc (UOG) is listed on the main market of the London Stock Exchange. UOG was established to explore, appraise and develop low risk assets in Europe and North Africa and to develop higher risk, higher impact exploration projects in Latin America and Africa.

The following table outlines the Company's current licences:

 
 Country           Licence              Operator            United Holding 
----------------  -------------------  ------------------  --------------- 
                   Podere Gallina 
 Italy              Licence             Po Valley Energy    20% 
----------------  -------------------  ------------------  --------------- 
                   Waddock Cross 
 United Kingdom     Field               Egdon Oil Plc       26.25% 
----------------  -------------------  ------------------  --------------- 
 United Kingdom    PL090 Exploration    Egdon Oil Plc       18.95% 
----------------  -------------------  ------------------  --------------- 
 United Kingdom    P1918*               Corallian           10%** 
----------------  -------------------  ------------------  --------------- 
 United Kingdom    PEDL 330             Corallian           10%** 
----------------  -------------------  ------------------  --------------- 
 United Kingdom    PEDL 345             Corallian           10%** 
----------------  -------------------  ------------------  --------------- 
                                        Tullow Oil 
 Jamaica           Walton-Morant*        plc                20% 
----------------  -------------------  ------------------  ---------------

*Offshore

** Option to acquire a further 10%

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 04, 2018 02:00 ET (06:00 GMT)

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