14th Apr 2021 20:24
United Oil & Gas PLC - oil and gas explorer - Reports "material upgrade" to reserves at Abu Sennan concession, Egypt. Proved, probable and possible reserves, or 3P, up to 34.7 million barrels of oil equivalent, from 28.6 million. "It is really pleasing to see the Abu Sennan assets continuing to perform so strongly, and so consistently, with a reserves replacement ratio of over 190% for the second year in a row," Chief Executive Officer Brian Larkin says. United holds 22% working interest in licence.
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By Eric Cunha; [email protected]
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