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
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Enquiries
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United Oil & Gas Plc
(Company)
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Brian Larkin, CEO
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brian.larkin@uogplc.com
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Beaumont Cornish
Limited (Nominated Adviser)
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Roland Cornish | Felicity
Geidt | Asia Szusciak
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+44 (0) 20 7628 3396
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Tennyson Securities (Joint
Broker)
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Peter Krens
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+44 (0) 20 7186 9030
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Optiva Securities
Limited (Joint Broker)
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Christian Dennis
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+44 (0) 20 3137 1902
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Shard Capital Limited (Joint
Broker)
Damon Heath | Isabella
Pierre
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+44 (0) 207 186 9900
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Camarco (Financial
PR)
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Andrew Turner | Emily Hall | Sam
Morris
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+44 (0) 20 3757 4980
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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