United Oil & Gas Plc
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 that Mr. Graham Martin has joined the Board as a Non-Executive Chairman with immediate effect.
Mr. Martin is an experienced senior natural resources executive and brings a wealth of international expertise. He is currently a Non-Executive Director at Kenmare Resources plc, one of the leading global producers of titanium minerals and zircon listed in London and Dublin. He has also previously served as an Executive Director, General Counsel and Company Secretary at Tullow Oil plc. From 1997 until 2016, Mr. Martin was centrally involved in the growth of Tullow Oil plc into a FTSE100 business, and in the company’s transformative M&A programme. Prior to Tullow Oil plc, Mr. Martin was a partner at the US energy law firm Vinson & Elkins LLP, having started his legal career in Scotland.
Commenting on the new appointment, Brian Larkin, Chief Executive Officer, said:
“We are delighted to welcome Graham to our Board and to see him assume the role of Chairman. We have, from the outset, stated a clear vision to build an oil and gas company that will successfully operate in exploration, development and production stages. Graham’s addition to our Board will further strengthen our strategic and corporate experience and will help us in achieving this goal and in ultimately delivering superior shareholder returns.
There are no further details in respect of Mr. Alan Graham Martin to be disclosed pursuant to LR 9.6.11, LR 9.6.12 or LR 9.6.13 of the Listing Rules, FCA Handbook
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)|
|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||20%|
|United Kingdom||Waddock Cross Field||Egdon Oil Plc||26.25%|
|United Kingdom||PL090 Exploration||Egdon Oil Plc||18.95%|
|United Kingdom||PEDL 330||Corallian||10%**|
|United Kingdom||PEDL 345||Corallian||10%**|
|Jamaica||Walton-Morant||Tullow Oil plc||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.