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United Oil & Gas expects Rockhopper Egypt acquisition to complete on 28 February

The firm said it had written consents from the Egyptian General Petroleum Corporation and the Minister of Petroleum and Mineral Resources for the acquisition

United Oil & Gas PLC - United Oil & Gas expects Rockhopper Egypt acquisition to complete on 28 February

United Oil & Gas PLC (LON:UOG) expects its acquisition of Rockhopper Egypt to complete on 28 February after it satisfied regulatory conditions attached to the purchase.

The AIM-listed firm said the satisfaction of the conditions to acquire Rockhopper, which owns a 22% interest in the Abu Sennan field in Egypt, followed receipt of written consents from the Egyptian General Petroleum Corporation and the Minister of Petroleum and Mineral Resources.

READ: United Oil & Gas upside highlighted by stockbroker after Egypt well exceeds expectations

The firm said it will update the market once the acquisition completes.

UOG shares were 1.4% lower at 3.4p in late-afternoon trading on Thursday.

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Price: 1.95 GBX

AIM:UOG
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Market Cap: £12.07 m
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