Investment in United Oil & Gas plc

RNS Number : 7394R

Gunsynd PLC

25 September 2017

 

Gunsynd plc

("Gunsynd" or the "Company")

Investment in United Oil & Gas plc

Gunsynd (AIM: GUN, ISDX: GUN) announces that it holds 6,058,599 shares in United Oil & Gas plc ("UOG"), representing approximately 3.01% of UOG's issued share capital.  The aggregate cost of this investment was approximately £160,000 and the Company paid an average of approximately 2.7p per UOG share.

UOG is an independent oil & gas start-up established in 2015 by a former Tullow Oil team.  Its strategy is to acquire assets where the management team's experience can drive near-term activity and unlock previously untapped value.  Two deals have been completed since August 2016, providing UOG with a material stake in two licences: PL090 onshore UK, and Podere Gallina onshore Italy.  UOG is listed on the main market of the London Stock Exchange by way of a standard listing.

The directors of Gunsynd accept responsibility for this announcement.

For further information please contact:

Gunsynd plc:                                                               [phone]

Hamish Harris

Donald Strang

Nominated Adviser/NEX Corporate Adviser:              [phone]

Cairn Financial Advisers LLP                                    

James Caithie / Liam Murray

 

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