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United Oil & Gas PLC - Rockhopper Announcement

RNS Number : 2886X
United Oil & Gas PLC
18 December 2019
 

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

18 December 2019

 

United Oil & Gas PLC ('United' or 'UOG' or 'the Company')

Rockhopper Announcement

 

On 23 July 2019 United Oil & Gas PLC ("United"), the AIM traded oil and gas exploration and development company, announced the proposed acquisition of Rockhopper Egypt Pty Ltd from Rockhopper Exploration Plc. The acquisition will include a 22% non-operating interest in the Abu Sennan concession onshore Egypt, and accordingly United note the announcement made by Rockhopper Exploration Plc today with headline "Egypt Update" and with RNS number 2314X available on the following link

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RKH/14353202.html

 

Brian Larkin CEO, United Oil and Gas PLC:

Today's announcement is further proof of the quality of the assets that United has agreed to acquire.  Abu Sennan has a historic drilling success rate of over 80% and rising.  Over the last year production at the licence has gone from just over 800 boepd to 1100 boepd net as a result of the successful four well development drilling campaign.  While we will wait to see the sustainable production levels on the ASH-2 well over the coming weeks, these initial results are excellent and we are confident that this well will further increase production. There is already a work programme in place for 2020, which will deliver a further four wells, significantly increasing newsflow from the Company. We expect the transaction to complete in January 2020 following satisfaction of final conditions precedent.

 

ENDS

 

United Oil & Gas Plc (Company)

 

Brian Larkin, CEO

[email protected]

Beaumont Cornish Limited (Nominated Adviser)

 

Roland Cornish and Felicity Geidt

+44 (0) 20 7628 3396

Optiva Securities Limited (Joint Broker)

 

Christian Dennis

+44 (0) 20 3137 1902

Cenkos Securities Plc (Joint Broker)

 

Joe Nally (Corporate Broking)

Derrick Lee and Pete Lynch

 +44 (0) 20 7397 8900

+44 (0) 131 220 6939

Murray (PR Advisor)

+353 (0) 87 6909735

Joe Heron

[email protected]

 

 

 

St Brides Partners (Financial PR/IR)

 

Frank Buhagiar and Priit Piip

+44 (0) 207 236 1177

 

Notes to Editors

 

United Oil & Gas plc (UOG) is an AIM-traded company.  United was established to explore, appraise and develop low risk assets in Europe and to develop higher risk, higher impact exploration projects in the Caribbean, Latin America and Africa.

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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