1 March 2018
United Oil & Gas Plc
Exercise of Warrants and Total Voting Rights
United Oil & Gas Plc (“UOG”, “United” or the “Company”), the London Stock Exchange listed oil and gas exploration and development company, announces that it has issued and allotted 60,000 new ordinary shares of £0.01 each (the “Ordinary Shares”) in the Company at an exercise price of £0.05 per new Ordinary Share following receipt of an exercise notice in respect of 60,000 warrants issued in November 2015.
Applications are being made to the UK Listing Authority and the London Stock Exchange for the 60,000 new Ordinary Shares to be admitted to the Official List and to trading on the London Stock Exchange’s main market for listed securities (the “Admission”). It is expected that Admission will become effective on or around 7 March 2018.
Following the issue of the new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, the total number of Ordinary Shares in issue with voting rights in the Company is 232,245,001. There are no shares held in treasury.
The above figure of 232,245,001 may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
For more information please visit the Company’s website at www.uogplc.com or contact:
|United Oil & Gas Plc (Company)|
|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|
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:
|Italy||Podere Gallina Licence||Po Valley Energy Ltd||20%|
|United Kingdom||Waddock Cross Field||Egdon Oil Plc||26.25%|
|United Kingdom||PL090 Exploration||Egdon Oil Plc||18.95%|
|United Kingdom||P1918*||Corallian Energy Limited||10%**|
|United Kingdom||PEDL 330||Corallian Energy Limited||10%**|
|United Kingdom||PEDL 345||Corallian Energy Limited||10%**|
|Jamaica||Walton-Morant*||Tullow Jamaica Limited||20%|
** Option to acquire a further 10%
In addition, UOG has an option agreement to farm into offshore Block 49/29c UK Licence P2264 which contains the Acle prospect. On exercise of this option agreement UOG will acquire a 24% interest in the licence.