UNITED OIL & GAS PLC

M&A Activity • Aug 1, 2023

National Storage Mechanism | Additional information

RNS Number : 8154H

United Oil & Gas PLC

01 August 2023

United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

1 August 2023

United Oil & Gas plc

("United" or "the Company")

Maria Discovery, North Sea Licence Update

United Oil & Gas PLC (AIM: "UOG"), the full cycle oil and gas company with a portfolio of production, development, exploration and appraisal assets, provides an update on the conditional sale of the UK Central North Sea Licence P2519 containing the Maria discovery in Block 15/18 to Quattro Energy Limited ("Quattro").

On 18 January 2023 United announced that it had entered into a binding asset purchase agreement (APA) with Quattro for the conditional sale of its UK Central North Sea Licence P2519. Further to the announcement of 18 May 2023 United confirms that all conditions under the APA have not been met by the expiry of the long stop date on the 31 July. The Company are in advanced discussions with Quattro regarding a possible further extension and expects to be in a position to update the market shortly.

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This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

Enquiries
United Oil & Gas Plc (Company)
Brian Larkin, CEO		brian.larkin@uogplc.com
Peter Dunne, CFO		Peter.dunne@uogplc.com
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish | Felicity Geidt  | Asia Szusciak		+44 (0) 20 7628 3396
Tennyson Securities (Joint Broker)
Peter Krens		+44 (0) 20 7186 9030
Optiva Securities Limited (Joint Broker)
Christian Dennis		+44 (0) 20 3137 1902
Camarco (Financial PR)
Georgia Edmonds | Emily Hall | Sam Morris		+44 (0) 20 3757 4983

Notes to Editors

United Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration assets across Egypt, UK and a high impact exploration licence in Jamaica.

The business is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions.

United Oil & Gas is listed on the AIM market of the London Stock Exchange. For further information on United Oil and Gas please visit www.uogplc.com 

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