REG - United Oil & Gas PLC - Appointment of Country Manager in Jamaica

United Oil & GasAnnouncement

29/02/2024 07:00

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RNS Number : 8661E  United Oil & Gas PLC  29 February 2024

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

 

29 February 2024

United Oil & Gas plc

("United" or "the Company")

Appointment of Country Manager in Jamaica

 

United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a high
impact exploration asset in Jamaica and a development asset in the UK is
pleased to announce the following update.

 

Appointment of Country Manager in Jamaica

 

United Oil and Gas Plc is pleased to announce that Herona Thompson has been
appointed Country Manager in Jamaica. Herona is a geologist by background and
brings extensive experience of working in the petroleum industry having worked
for both the Government of Jamaica and for the private sector on Jamaican and
international projects. Herona will play a key role in overseeing and
implementing the work programme that was recently agreed with the Ministry of
Science, Energy, Telecommunications and Transport ("MSETT") as part of the
two-year extension to the Initial Exploration Period of the Walton Morant
Licence.

 

United currently holds and operates a 100% equity interest in the Walton
Morant Licence, Jamaica, which is a 22,400km(2) offshore exploration block
situated to the south of the island. Planning is already underway for the
acquisition of a piston core survey on the licence, which will aim to directly
sample the seabed for traces of flowing hydrocarbons that have naturally
leaked to the surface. This initiative allows the Company to maintain the
momentum of its work programme while continuing to engage with potential
strategic partners.

 

The high-quality data-set that has been acquired over the last 5 years enables
each core that is to be extracted by the piston core survey to be optimally
targeted, maximising the chances of success. A positive result from the survey
showing traces of hydrocarbons would substantially de-risk the leads and
prospects already identified - eleven of which have been independently
evaluated to contain a combined 2.4 billion barrels unrisked mean prospective
resources.

 

 

United Chief Executive Officer, Brian Larkin commented:

 

"We are very pleased to welcome Herona to the United team. With her experience
of the industry and of managing projects in Jamaica, her appointment will be
key to implementing the planned work programme and delivering positive
results.

"In parallel to progressing the technical work programme to unlock the vast
potential of the licence, we continue to engage positively with potential
strategic partners through a farm-out campaign, and look forward to providing
further updates to the market as both the work programme and farm-out process
continue."

 

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).

 

 

 

 

 

 Enquiries
 United Oil & Gas Plc (Company)
 Brian Larkin, CEO                                      brian.larkin@uogplc.com (mailto:brian.larkin@uogplc.com)

 Beaumont Cornish Limited (Nominated Adviser)
 Roland Cornish | Felicity Geidt | Asia Szusciak        +44 (0) 20 7628 3396

 Tennyson Securities (Joint Broker)
 Peter Krens                                            +44 (0) 020 7186 9030

 Optiva Securities Limited (Joint Broker)
 Christian Dennis                                       +44 (0) 20 3137 1902

 Camarco (Financial PR)
 Andrew Turner | Emily Hall | Sam Morris                +44 (0) 20 3757 4983

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Notes to Editors

United Oil & Gas is an oil and gas company with a development asset in
the 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 (http://www.uogplc.com)

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