Long Stop Date Extension
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
17 April 2023
United Oil and Gas plc
("United" or "the Company")
Long Stop Date Extension - Sale of UK Central North Sea Licence
As announced on the 17th January 2023, United has entered into a binding asset purchase agreement ("APA") with Quattro Energy Limited for the conditional sale of the UK Central North Sea Licence P2519 containing the Maria discovery in Block 15/18e.
The long stop date for the satisfaction of the APA conditions was 16th April 2023. The parties to the APA have agreed an extension of this long stop date to the 17th May 2023 to allow additional time for the APA conditions required for completion to be satisfied. A further update will be provided to the market in due course.
END
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).
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United Oil & Gas Plc (Company)
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Brian Larkin, CEO |
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Sharan Dhami, Head of IR & ESG |
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Beaumont Cornish Limited (Nominated Adviser) |
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Roland Cornish | Felicity Geidt |
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+44 (0) 20 7628 3396 |
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Tennyson Securities (Joint Broker) |
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Peter Krens |
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+44 (0) 20 7186 9030 |
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Optiva Securities Limited (Joint Broker) |
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Christian Dennis |
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+44 (0) 20 3137 1902 |
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Camarco (Financial PR) |
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Georgia Edmonds | Emily Hall | Sam Morris
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+44 (0) 20 3757 4983 | uog@camarco.co.uk
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Notes to Editors
United Oil & Gas is the full-cycle oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration assets across Egypt, UK and a high impact exploration licence in Jamaica.
The business is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions.
United Oil & Gas is listed on the AIM market of the London Stock Exchange. For further information on United Oil and Gas please visit www.uogplc.com .
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