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United Oil & Gas PLC (UOG)

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Wednesday 04 April, 2018

United Oil & Gas PLC

Update on Walton-Morant Licence

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 2,250km2 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 3rd 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

[email protected]

 

 

Optiva Securities Limited (Broker)

 

Christian Dennis

+44 (0) 20 3137 1902

 

 

Beaumont Cornish Limited (Financial Adviser)

 

Roland Cornish and Felicity Geidt

+44 (0) 20 7628 3396

 

 

Murray (PR Advisor)

 +353 (0) 87 6909735

Joe Heron

[email protected]

 

 

 

 

 

 

 

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

Italy

Podere Gallina Licence

Po Valley Energy

20%

United Kingdom

Waddock Cross 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%**

Jamaica

Walton-Morant*

Tullow Oil plc

20%

*Offshore

** Option to acquire a further 10%


This information is provided by RNS
The company news service from the London Stock Exchange
 
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