REG - United Oil & Gas PLC - Clarification Regarding Oil Discovery Speculation

United Oil & GasAnnouncement

27/08/2024 07:00

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RNS Number : 6923B  United Oil & Gas PLC  27 August 2024

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

 

27 August 2024

United Oil & Gas plc

("United" or "the Company")

 

Clarification Regarding Oil Discovery Speculation in Jamaican Media

 

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 has
noted the recent rumours circulating in Jamaica media regarding its Walton
Morant licence.

 

United confirms that it has drilled no wells in the Walton Morant licence and
therefore no commercial oil or gas discovery has been made. United holds a
100% working interest and is currently engaged in a farm-out process. United's
2024 work programme is focused on conducting piston core sampling, which aims
to detect any oil residue before considering future exploration drilling
targets.

 

 

Brian Larkin, United Chief Executive Officer commented: "The Walton-Morant
Licence is a vast exploration area containing numerous promising prospects. We
are committed to improving our understanding of the resource potential within
the licence area.

We continue working to secure a strategic partner to unlock the immense
potential within the licence, including recent positive interest that has been
shown by several parties. Following securing an extension to the licence, our
2024 work programme is underway, and we will update the market at the next
suitable opportunity."

 

END

 

 

 

 

 

 Enquiries
 United Oil & Gas Plc (Company)
 Brian Larkin, CEO                                      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) 20 7186 9030

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

 Shard Capital Limited (Joint Broker)                   +44 (0) 207 186 9900

 Damon Heath | Isabella Pierre

 Camarco (Financial PR)
 Andrew Turner | Emily Hall | Sam Morris                +44 (0) 20 3757 4980

 

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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