Update on Walton-Morant Licence

RNS Number : 5259J

United Oil & Gas PLC

04 April 2018

 

                                                                                                                                                      4th April 2018

United Oil & Gas Plc

Update on Walton-Morant Licence

United Oil & Gas Plc ("UOG", "United" or the "Company"), the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce commencement of seismic acquisition on the Tullow Jamaica Ltd ("Tullow") operated Walton-Morant licence, offshore Jamaica.

Further to the announcement of 2 March 2018, the Company is pleased to report the commencement of seismic acquisition in the Walton Morant licence, offshore Jamaica.  "Polarcus Adira", a vessel contracted to acquire 2,250km² of 3D seismic, arrived in Kingston on Friday 23 March 2018.  After a quick turnaround, the vessel departed for deployment on the Sunday 25 March 2018, with data acquisition successfully commencing on 3^rd April 2018.

The seismic acquisition is expected to take approximately 8 weeks and is centred on the high-graded Colibri prospect.

United Oil & Gas Plc, Brian Larkin

"We are very pleased with progress to date on our Jamaica licence and we look forward to seeing the initial results. We will update shareholders on completion of the survey in approximately eight weeks. In addition, we continue to evaluate similar high impact licences in neighbouring regions, which we believe could offer transformational growth opportunity, as we look to develop our business".

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

For more information please visit the Company's website at www.uogplc.com or contact:

United Oil & Gas Plc (Company)
Brian Larkin	[e-mail]
Optiva Securities Limited (Broker)
Christian Dennis	[phone]
Beaumont Cornish Limited (Financial Adviser)
Roland Cornish and Felicity Geidt	[phone]
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]

Editor's Note:

United Oil & Gas plc (UOG) is listed on the main market of the London Stock Exchange.  UOG was established to explore, appraise and develop low risk assets in Europe and North Africa and to develop higher risk, higher impact exploration projects in Latin America and Africa.

The following table outlines the Company's current licences:

Country	Licence	Operator	United Holding
Italy	Podere Gallina Licence	Po Valley Energy	20%
United Kingdom	Waddock Cross Field	Egdon Oil Plc	26.25%
United Kingdom	PL090 Exploration	Egdon Oil Plc	18.95%
United Kingdom	P1918*	Corallian	10%**
United Kingdom	PEDL 330	Corallian	10%**
United Kingdom	PEDL 345	Corallian	10%**
Jamaica	Walton-Morant*	Tullow Oil plc	20%

*Offshore

** Option to acquire a further 10%

 

END

 

 

DRLUUSWRWRASRRR