Update on Sale of UK Central North Sea Licence
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
7 December 2021
United Oil and Gas Plc
("United" "the Group" or the "Company")
Long Stop Date Extension - Sale of UK Central North Sea Licence
As announced on 7 September 2021, United has entered in to a binding sale and purchase agreement ("SPA") with Quattro Energy Limited to sell its UK Central North Sea Licences P2480 and P2519.
The long stop date for satisfaction of the SPA conditions was 6 December 2021. The parties to the SPA have agreed an extension of this long stop date to 28 February 2022 to allow additional time for the SPA conditions required for completion. A further update will be provided to the market in due course.
**ENDS**
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
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Enquiries |
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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) |
+44 (0) 20 7628 3396 |
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Roland Cornish and Felicity Geidt |
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Optiva Securities Limited (Broker) |
+44 (0) 20 3137 1902 |
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Christian Dennis
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Murray (PR Advisor) |
+353 (0) 87 6909735 |
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Joe Heron |
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Camarco (Financial PR/IR) |
+44 (0) 20 3757 4983
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Billy Clegg | James Crothers | Tessa Gough-Allen |
Notes to Editors
United Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration assets across Egypt, UK, Italy 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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