ABOUT

The Company

Oil and gas exploration, development and production company with existing assets in Egypt, UK, Italy and Jamaica. Management strategy is to expand the current portfolio with value accretive acquisitions focused primarily on stable international jurisdictions (see more).

United Oil & Gas (UOG) was established in 2015.

Company History

2015
United Oil & Gas established
2016
Acquired PL090 licence, onshore UK
2017
  • Farm-in agreed on the Podere Gallina licence, Italy
  • Admission to the London Stock Exchange’s Main Market via RTO with Senterra Energy Plc
  • Farmed-in to the Tullow-operated Walton-Morant licence, Jamaica | Commenced drilling PM-1 well on the Podere Gallina Licence, Italy
2018
  • PM-1well-testing proves up commercial discovery
  • Farm-in agreements signed on offshore UK Licences P1918 and P2264 (Colter and Acle)
  • Graham Martin appointed as Non-Executive Chairman
  • Completion of 3D seismic survey offshore Jamaica, Submission of production concession application to develop the PM-1 Selva Gas Field in Italy
  • Award of two blocks, including the Crown oil discovery, in the UK 30th Licensing Round
  • Selva Gas Field development plan approved
2019
  • Colter well completed offshore UK - new discovery
  • Move from Standard Market to AIM
  • David Quirke appointed as CFO
  • Awarded 4 Blocks in the UK 31st Licensing Round
  • SPA signed on Rockhopper Egypt’s Abu Sennan assets
  • Divestment of Licence P2366 (Crown)
2020
  • Completion of Rockhopper Egypt acquisition
  • Appointment of Ms Iman Hill as non-executive director
  • Welcomed new institutional investors
  • Establishment of Environmental, Social and Governance (ESG) Board Committee
  • ASH-2 and ES-5 Wells in Egypt increased working interest production from 1,709 boepd on 1st March 2020 to 2,716 boepd on 30th June 2020
  • 100% equity stake and operatorship of the Walton Morant licence in Jamaica along with 18-month extension secured
  • Provisional award of Blocks 15/18e and 15/19c, containing the Maria and 15/18a-6 Discoveries, in the UK’s 32nd offshore licensing round

1H 2021

Abu Sennan Licence, Egypt
             • Group working interest 1H 2021 production averaged 2,730 boepd
             • 4 /4 successful wells drilled to Sept 2021
             • Long-term plan in Egypt to realise full potential of the Abu Sennan licence
                         – Indicative long term drilling programme starting with four wells in 2022
                         – Potential to deliver large reserves, production and exploration upside
             • Zero Lost time incidents, Medical Treatment Injury, Restricted Work Injury, Spills, fires or environmental incidents

Walton Morant Licence, Jamaica
            • Actively working to achieve the best path forward for this exciting high-impact asset
            • Formal farm-out campaign, which commenced in early April continues

UK CNS & Italy
Divestments of non-core assets in UK CNS and Italy signed (post 1H 2021) in line with the Company’s strategy to reinvest the proceeds to support growth;
           • Signed conditional SPA for sale of Italian interests for €2.165m (c. $2.54m)
           • Signed conditional SPA for the sale of UK Central North Sea Licences for a consideration of up to £3.2m (c $4.4m)

• Clear ESG focus and actions including evaluation of emissions baseline in Egypt and contributions to social investment programmes
• Continued evaluation of new business opportunities to grow the business in line with our strategy

1H 2021

Abu Sennan Licence, Egypt

  • Group working interest 1H 2021 production averaged 2,730 boepd
  • 4 /4 successful wells drilled to Sept 2021
  • Zero Lost time incidents, Medical Treatment Injury, Restricted Work Injury, Spills, fires or environmental incidents
  • Long-term plan in Egypt to realise full potential of the Abu Sennan licence
    • Indicative long term drilling programme starting with four wells in 2022
    • Potential to deliver large reserves, production and exploration upside
  • Zero Lost time incidents, Medical Treatment Injury, Restricted Work Injury, Spills, fires or environmental incidents

Walton Morant Licence, Jamaica

  • Actively working to achieve the best path forward for this exciting high-impact asset
  • Formal farm-out campaign, which commenced in early April continues

UK CNS & Italy

Divestments of non-core assets in UK CNS and Italy signed (post 1H 2021) in line with the Company’s strategy to reinvest the proceeds to support growth;

  • Signed conditional SPA for sale of Italian interests for €2.165m (c. $2.54m)
  • Signed conditional SPA for the sale of UK Central North Sea Licences for a consideration of up to £3.2m (c $4.4m)

• Clear ESG focus and actions including evaluation of emissions baseline in Egypt and contributions to social investment programmes
• Continued evaluation of new business opportunities to grow the business in line with our strategy