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 2nd 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 super wild cat opportunities in neighbouring regions as we look to grow 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 brian.larkin@unitedoilandgas.eu
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 jheron@murrayconsultanta.ie

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%