REG - United Oil & Gas PLC - NEPA Permit Publication and Warrant Extension

United Oil & GasAnnouncement

30/06/2025 07:00

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RNS Number : 8635O  United Oil & Gas PLC  30 June 2025

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

30(th) June 2025

United Oil & Gas plc

("United" or "the Company")

 

NEPA Permit Publication and Warrant Extension

 

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, notes
that the National Environment and Planning Agency (NEPA) in Jamaica has
published its decision to grant an Environmental Permit and a Beach Licence in
relation to the planned offshore technical programme within the Walton Morant
Licence .

 

The piston core survey will involve the collection of 40 to 60 seabed sediment
(mud) samples from the Walton and Morant basins using a long, cylindrical
piston corer designed to penetrate the seafloor and retrieve undisturbed score
samples from the seafloor. These samples will undergo detailed geochemical
analysis to improve understanding of the hydrocarbon generation potential and
reservoir quality across the licence area. To aid in selecting viable seabed
locations, a Multibeam Echosounder (MBES) survey is planned over certain
deeper areas of the licence, particularly in regions of the Morant Basin not
currently covered by 3D seismic data.

 

In addition, the survey will include a heat probe analysis at selected
locations to measure background heat flow and sediment thermal conductivity.
This data will support refined basin modelling and petroleum system analysis,
helping to identify and prioritise areas most likely to host commercial
hydrocarbon accumulations.

 

United is currently awaiting formal receipt of the permits and will undertake
a detailed review upon arrival. A further update will be provided to the
market in due course.

 

Brian Larkin, Chief Executive Officer of United Oil & Gas, commented:

 

"We welcome NEPA's publication and view it as a positive indication of
progress toward the next technical phase at Walton Morant. While we await the
formal documentation, this is a significant milestone in our planning for the
offshore programme and supports our strategy to advance the licence and unlock
its value through disciplined technical work and industry engagement.

 

These developments play an important role in our ongoing farm-out process,
which continues to attract interest from credible counterparties. Walton
Morant remains one of the few frontier licences with multi-billion-barrel
potential and proximity to existing infrastructure in a stable jurisdiction
near the US Gulf Coast."

 

 

Warrant Extension

 

The Company also announces its intention to extend the expiry date of
166,666,667 warrants exercisable at 0.28 pence per share. These warrants will
now expire on 31 December 2025, instead of 30 June 2025. All other terms of
the warrants will remain unchanged.

 

The extension maintains the potential for additional non-dilutive funding to
be realised over the coming months, as the Company continues to advance its
strategy and seeks to unlock value across its asset base.

 

 

 

(1)
https://www.nepa.gov.jm/sites/default/files/2025-06/Board_Decision_17_June_2025.pdf

 

 

**ENDS**

 

 Enquiries
 United Oil & Gas Plc (Company)                         +353 1 539 2520
 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

 

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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