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Admission to Trading on AIM

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RNS Number : 5185R
United Oil & Gas PLC
01 March 2019
 

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

1 March 2019

United Oil & Gas PLC ("United" or the "Company") 

Admission to Trading on AIM

 

United Oil & Gas Plc, the oil and gas exploration and development company, is pleased to announce that further to the announcements of 31 January 2019 and 26 February 2019, admission of its ordinary shares of 1 pence each ("Ordinary Shares") to trading on the AIM market of the London Stock Exchange is expected to become effective at 8.00 a.m. today, following the cancellation of trading of the Ordinary Shares on the standard listing segment of the Official List and to trading on the Main Market. The Ordinary Shares will continue to trade on AIM under the TIDM "UOG".

 

Disclosures as required by AIM Rule 26 can be found at: http://www.uogplc.com/investors-aim-rule-26/ 

 

No additional capital has been raised upon admission and the Company's issued share capital comprises 345,613,985 Ordinary Shares each with voting rights. No Ordinary Shares are held in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 345,613,985. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

United Oil & Gas PLC CEO, Brian Larkin, said: "We are delighted to take this next step in our growth as a PLC. In the short time since our establishment in 2015 and initial listing in 2017, United has created a portfolio of assets which I believe will deliver exceptional value for our shareholders.  The move to AIM will not only reduce costs and use of management resources but will also assist us in undertaking the kind of value-adding transactions that will significantly grow our business. I would like to thank our shareholders for their support to date and look forward to updating them on our licences in the UK, Italy and Jamaica, beginning with the Colter well result in the coming weeks."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

**ENDS**

 

For more information please visit the Company's website at www.uogplc.com or contact: 

 

United Oil & Gas Plc (Company)


Brian Larkin

[email protected]



Beaumont Cornish Limited (Nominated Adviser)


Roland Cornish and Felicity Geidt

+44 (0) 20 7628 3396



Optiva Securities Limited (Broker) 


Christian Dennis

+44 (0) 20 3137 1902



Murray (PR Advisor)

+353 (0) 87 6909735

Joe Heron

[email protected]





St Brides Partners (Financial PR/IR)


Frank Buhagiar and Juliet Earl

+44 (0) 207 236 1177

 

 

Notes to Editors

 

United Oil & Gas plc (UOG) is listed on the main market of the London Stock Exchange. 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.

 

The following table outlines the Company's licence interests:

 

 

Country

Licence

Operator / Administrator

United Interest

 Next Stage of Development

Italy

Podere Gallina Licence

Po Valley Operations Pty Ltd

20.00%

Infrastructure build in 2019 Production from Podere Maiar well expected in 2020 Evaluation of exploration opportunities continuing

 

UK

PL090 (Waddock Cross)

Egdon Resources UK Limited

26.25%

Development well drilling targeted in 2019

UK

PL090 (Exploration Broadmayne)

Egdon Resources UK Limited

18.95%

Seismic interpretation continuing

UK

P1918 (Colter)*

Corallian Energy Limited

10.00%

Colter drill ongoing

Results currently under evaluation

 UK

PEDL 330

Corallian Energy Limited

10.00%

 Evaluation of exploration opportunities continuing

UK

PEDL 345

Corallian Energy Limited

10.00%

 Evaluation of exploration opportunities continuing

UK

P2366 (Crown)*

United Oil & Gas Plc

95.00%

Seismic reprocessing and rock physics underway ahead of firming up development plans

Jamaica

Walton-Morant*

Tullow Jamaica Ltd

20.00%

Processing and interpretation of acquired 3D seismic - drill-or-drop decision by end of 2019

*Offshore


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.
 
END
 
 
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Quick facts: United Oil & Gas PLC

Price: 4.05

Market: AIM
Market Cap: £14 m
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