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UOG United Oil & Gas Plc

0.19
-0.005 (-2.56%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
United Oil & Gas Plc LSE:UOG London Ordinary Share GB00BYX0MB92 ORD GBP0.00001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -2.56% 0.19 0.18 0.20 0.195 0.19 0.195 2,295,120 15:42:31
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 15.83M 2.35M 0.0036 0.53 1.25M

United Oil & Gas PLC Q4 Production Update (4696L)

13/01/2021 7:00am

UK Regulatory


United Oil & Gas (LSE:UOG)
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TIDMUOG

RNS Number : 4696L

United Oil & Gas PLC

13 January 2021

United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

13 January 2021

United Oil and Gas plc

("United" or "the Company")

Quarterly Production Report

United Oil & Gas PLC (AIM: "UOG"), the full-cycle multinational oil and gas company, offers a quarterly production update for the period to the end of 2020.

-- United's H2 2020 net working interest production averaged 2,340 boepd in line with guidance for the period of 2,300 boepd

-- Q4 2020 net working interest production averaged 2,243 boepd (1,960 bopd oil and 283 boepd gas)

-- With the ASH gas pipeline coming onstream on the 27(th) December, United exited 2020 with net working interest production of 2,389 boepd

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.

United Chief Operating Officer, Jonathan Leather commented:

"The Abu Sennan asset continues to perform strongly. With the ASH gas pipeline coming onstream at the end of the year, 2021 has already seen a boost to production, with c.220 boepd of additional gas now being captured on a net basis.

"United are looking forward to further potential production additions from Abu Sennan in 2021, with a number of activities planned. Drilling at ASH-3, the first of a multi-well programme, is currently underway, with results from this well due in Q1."

**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 ("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 (Joint 
 Broker) 
Christian Dennis                              +44 (0) 20 3137 1902 
Cenkos Securities Plc (Joint Broker) 
Joe Nally (Corporate Broking)                 +44 (0) 20 7397 8900 
 Derrick Lee and Pete Lynch                    +44 (0) 131 220 6939 
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/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

January 13, 2021 02:00 ET (07:00 GMT)

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