United Oil & Gas PLC Quarterly Production Update (0561V)
April 12 2021 - 2:00AM
UK Regulatory
TIDMUOG
RNS Number : 0561V
United Oil & Gas PLC
12 April 2021
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil
& Gas
12 April 2021
United Oil and Gas plc
("United" or "the Company")
Quarterly Production Report
United Oil & Gas PLC (AIM: "UOG"), the growing oil and gas
company with a portfolio of production, development, exploration
and appraisal assets, offers a quarterly production update for the
first quarter of 2021.
-- United's Q1 2021 net working interest production averaged
2,520 boepd (2,053 bopd oil and 467 boepd gas), slightly above the
previously provided guidance for H1-21 of between 2,300 and 2,500
boepd
-- This represents a 12% uplift compared to Q4 2020, largely
driven by the additional production through the ASH gas pipeline
(completed 27(th) December 2020) and more recently from the ASH-3
well, which has been producing at an average of over 4,000 boepd
(880 boepd net) since coming onstream on 5 March
All of United's production for the period was from the Kuwait
Energy Egypt ("KEE") operated Abu Sennan Licence, Egypt, in which
United holds a 22% working interest.
This data will vary quarter on quarter as development, appraisal
and exploration operations continue.
**ENDS**
Jonathan Leather, an Executive Director of the Company, who has
over 20 years of relevant experience in the oil and gas industry,
has reviewed and approved the information contained in this
announcement. Dr Jonathan Leather is a qualified person as defined
in the guidance note for Mining Oil & Gas Companies of the
London Stock Exchange and is a member of the Petroleum Exploration
Society of Great Britain and the Society of Petroleum
Engineers.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
United Oil & Gas Plc (Company)
Brian Larkin, CEO brian.larkin@uogplc.com
Beaumont Cornish Limited (Nominated
Adviser)
Roland Cornish and Felicity Geidt +44 (0) 20 7628 3396
Optiva Securities Limited (Broker)
Christian Dennis +44 (0) 20 3137 1902
Murray (PR Advisor) +353 (0) 87 6909735
Joe Heron jheron@murrayconsultants.ie
Camarco (Financial PR/IR)
Billy Clegg +44 (0) 20 3757 4983
Georgia Edmonds uog@camarco.co.uk
James Crothers
Notes to Editors
United Oil & Gas is a high growth oil and gas company with a
portfolio of low-risk, cash generative production and development
assets across Egypt, UK, Italy and a high impact exploration
licence in Jamaica.
Led by an experienced management team with a strong track record
of growing full cycle businesses and partnered with established
industry players, the Company is well positioned to deliver future
growth through portfolio optimisation and targeted
acquisitions.
United Oil & Gas is listed on the AIM market of the London
Stock Exchange. For further information on United Oil and Gas
please visit https://www.uogplc.com/
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END
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