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United Oil delivering on strategy as it achieves ‘excellent’ outcome from Crown sale

United Oil & Gas PLC's (LON:UOG) Brian Larkin speaks to Proactive London's Andrew Scott after announcing they've signed heads of terms to sell two blocks in the North Sea to Anasuria Hibiscus UK Limited for up to US$5mln.

It includes the Crown Discovery that was initially discovered by energy giant ConocoPhilips in 1998.

Larkin says the work UOG's technical team put in to develop the licence has delivered an excellent outcome for them and on completion should see them realise a significant return.

Quick facts: United Oil & Gas PLC

Price: 2.85 GBX

AIM:UOG
Market: AIM
Market Cap: £17.82 m
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United Oil & Gas positioned as 'only full life cycle E&P producer listed on AIM'

United Oil & Gas PLC's (LON:UOG) Brian Larkin explains to Proactive London's Katie Pilbeam how Rockhopper Exploration PLC (LON:RKH) sold its entire 18.3% stake in UOG to a small number of institutional investors and one private investor in a placing. Larkin also talks about their...

3 weeks ago

2 min read