Admission to Trading on AIM

RNS Number : 5185R

United Oil & Gas PLC

01 March 2019

 

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

1 March 2019

United Oil & Gas PLC ("United" or the "Company") 

Admission to Trading on AIM

United Oil & Gas Plc, the oil and gas exploration and development company, is pleased to announce that further to the announcements of 31 January 2019 and 26 February 2019, admission of its ordinary shares of 1 pence each ("Ordinary Shares") to trading on the AIM market of the London Stock Exchange is expected to become effective at 8.00 a.m. today, following the cancellation of trading of the Ordinary Shares on the standard listing segment of the Official List and to trading on the Main Market. The Ordinary Shares will continue to trade on AIM under the TIDM "UOG".

Disclosures as required by AIM Rule 26 can be found at: http://www.uogplc.com/investors-aim-rule-26/ 

No additional capital has been raised upon admission and the Company's issued share capital comprises 345,613,985 Ordinary Shares each with voting rights. No Ordinary Shares are held in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 345,613,985. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

United Oil & Gas PLC CEO, Brian Larkin, said: "We are delighted to take this next step in our growth as a PLC. In the short time since our establishment in 2015 and initial listing in 2017, United has created a portfolio of assets which I believe will deliver exceptional value for our shareholders.  The move to AIM will not only reduce costs and use of management resources but will also assist us in undertaking the kind of value-adding transactions that will significantly grow our business. I would like to thank our shareholders for their support to date and look forward to updating them on our licences in the UK, Italy and Jamaica, beginning with the Colter well result in the coming weeks."

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

**ENDS**

For more information please visit the Company's website at www.uogplc.com or contact: 

United Oil & Gas Plc (Company)
Brian Larkin	[e-mail]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish and Felicity Geidt	[phone]
Optiva Securities Limited (Broker)
Christian Dennis	[phone]
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]
St Brides Partners (Financial PR/IR)
Frank Buhagiar and Juliet Earl	[phone]

Notes to Editors

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

The following table outlines the Company's licence interests:

Country	Licence	Operator / Administrator	United Interest	Next Stage of Development
Italy	Podere Gallina Licence	Po Valley Operations Pty Ltd	20.00%	Infrastructure build in 2019 Production from Podere Maiar well expected in 2020 Evaluation of exploration opportunities continuing
UK	PL090 (Waddock Cross)	Egdon Resources UK Limited	26.25%	Development well drilling targeted in 2019
UK	PL090 (Exploration Broadmayne)	Egdon Resources UK Limited	18.95%	Seismic interpretation continuing
UK	P1918 (Colter)*	Corallian Energy Limited	10.00%	Colter drill ongoing Results currently under evaluation
UK	PEDL 330	Corallian Energy Limited	10.00%	Evaluation of exploration opportunities continuing
UK	PEDL 345	Corallian Energy Limited	10.00%	Evaluation of exploration opportunities continuing
UK	P2366 (Crown)*	United Oil & Gas Plc	95.00%	Seismic reprocessing and rock physics underway ahead of firming up development plans
Jamaica	Walton-Morant*	Tullow Jamaica Ltd	20.00%	Processing and interpretation of acquired 3D seismic - drill-or-drop decision by end of 2019

*Offshore

 

END

 

 

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