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.