Quarterly Production Update

RNS Number : 0561V

United Oil & Gas PLC

12 April 2021

 

United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

12 April 2021

United Oil and Gas plc

("United" or "the Company")

Quarterly Production Report

United Oil & Gas PLC (AIM: "UOG"),  the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, offers a quarterly production update for the first quarter of 2021.

· United's Q1 2021 net working interest production averaged 2,520 boepd (2,053 bopd oil and 467 boepd gas), slightly above the previously provided guidance for H1-21 of between 2,300 and 2,500 boepd

· This represents a 12% uplift compared to Q4 2020, largely driven by the additional production through the ASH gas pipeline (completed 27^th December 2020) and more recently from the ASH-3 well, which has been producing at an average of over 4,000 boepd (880 boepd net) since coming onstream on 5 March

All of United's production for the period was from the Kuwait Energy Egypt ("KEE") operated Abu Sennan Licence, Egypt, in which United holds a 22% working interest.

This data will vary quarter on quarter as development, appraisal and exploration operations continue.

**ENDS**

Jonathan Leather, an Executive Director of the Company, who has over 20 years of relevant experience in the oil and gas industry, has reviewed and approved the information contained in this announcement.  Dr Jonathan Leather is a qualified person as defined in the guidance note for Mining Oil & Gas Companies of the London Stock Exchange and is a member of the Petroleum Exploration Society of Great Britain and the Society of Petroleum Engineers. 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Glossary:

boepd - barrels of oil equivalent per day

bopd - barrels of oil per day

United Oil & Gas Plc (Company)
Brian Larkin, CEO	[e-mail]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish and Felicity Geidt	[phone]
Optiva Securities Limited (Broker)
Christian Dennis	[phone]
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]
Camarco (Financial PR/IR)
Billy Clegg Georgia Edmonds James Crothers	[phone] [e-mail]

Notes to Editors

United Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production and development assets across Egypt, UK, Italy and a high impact exploration licence in Jamaica.

Led by an experienced management team with a strong track record of growing full cycle businesses and partnered with established industry players, the Company 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 https://www.uogplc.com/ 

 

END

 

 

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