Exploration company was established by former Tullow Oil executives
United Oil & Gas, the London-listed explorer, has drilled its well on the Selva Gasfield in Italy with the results indicating a “thick gas-bearing reservoir”.
“We are very pleased with these initial well results, which confirm the significant potential in the Selva Field. We are looking forward to successfully completing the well operations, and commencing the rigless testing shortly,” said Brian Larkin, the company’s chief executive.
That rigless testing is planned for early January as the company targets well completion to be finished by the middle of December.
The gas field in question is majority owned by Po Valley Energy, with 60 per cent, while United holds 20 per cent and Prospex Oil and Gas holds 17 per cent.