United
Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil &
Gas
29 February 2024
United
Oil & Gas plc
("United"
or "the Company")
Appointment of Country Manager in Jamaica
United Oil & Gas
Plc (AIM: "UOG"), the oil and gas company
with a high impact exploration asset in Jamaica and a development asset
in the UK is pleased to announce the
following update.
Appointment of Country Manager in Jamaica
United Oil and Gas Plc is pleased to
announce that Herona Thompson has been appointed Country Manager in
Jamaica. Herona is a geologist by background and brings extensive
experience of working in the petroleum industry having worked for
both the Government of Jamaica and for the private sector on
Jamaican and international projects. Herona will play a key role in
overseeing and implementing the work programme that was recently
agreed with the Ministry of Science,
Energy, Telecommunications and Transport ("MSETT")
as part of the two-year extension to the Initial
Exploration Period of the Walton Morant Licence.
United currently holds and operates
a 100% equity interest in the Walton Morant Licence, Jamaica, which
is a 22,400km2 offshore exploration block situated to
the south of the island. Planning is
already underway for the acquisition of a piston core survey on the
licence, which will aim to directly sample the seabed for traces of
flowing hydrocarbons that have naturally leaked to the surface.
This initiative allows the Company to maintain the momentum of its
work programme while continuing to engage with potential strategic
partners.
The high-quality data-set that has
been acquired over the last 5 years enables each core that is to be
extracted by the piston core survey to be optimally targeted,
maximising the chances of success. A positive result from the
survey showing traces of hydrocarbons would substantially de-risk
the leads and prospects already identified - eleven of which have
been independently evaluated to contain a combined 2.4 billion
barrels unrisked mean prospective resources.
United Chief Executive Officer, Brian Larkin
commented:
"We are very pleased to welcome Herona to the United team.
With her experience of the industry and of managing projects in
Jamaica, her appointment will be key to implementing the planned
work programme and delivering positive results.
"In parallel to progressing the technical work programme to
unlock the vast potential of the licence, we continue to engage
positively with potential strategic partners through a farm-out
campaign, and look forward to providing further updates to the
market as both the work programme and farm-out process
continue."
END
This announcement contains inside
information for the purposes of Article 7 of Regulation
2014/596/EU which is part of domestic UK law
pursuant to the Market Abuse (Amendment) (EU Exit) regulations
(SI 2019/310).
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Enquiries
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United Oil & Gas Plc
(Company)
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Brian Larkin, CEO
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brian.larkin@uogplc.com
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Beaumont Cornish
Limited (Nominated Adviser)
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Roland Cornish | Felicity
Geidt | Asia Szusciak
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+44 (0) 20 7628 3396
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Tennyson Securities (Joint
Broker)
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Peter Krens
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+44 (0) 020 7186 9030
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Optiva Securities
Limited (Joint Broker)
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Christian Dennis
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+44 (0) 20 3137 1902
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Camarco (Financial
PR)
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Andrew Turner | Emily Hall | Sam
Morris
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+44 (0) 20 3757 4983
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Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
Notes to Editors
United Oil & Gas is an oil
and gas company with a development asset in the UK and a high
impact exploration licence in Jamaica.
The business is led by an
experienced management team with a strong track record of growing
full cycle businesses, partnered with established industry players
and 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 www.uogplc.com