4th Oct 2023 16:16
United Oil & Gas PLC - oil and gas company focused on Egypt, the UK and Jamaica - Extends the long stop date of the asset purchase agreement with Quattro Energy Ltd to October 27. Asset purchase relates to the conditional sale of the UK Central North Sea Licence P2519 which contains the Maria discovery in Block 15/18 to Quattro.
"We remain confident that our licence is highly prospective, particularly following the recent support given to drilling in the North Sea by the UK government and regulators. It is clear that the North Sea remains a strategic asset for both the UK and Europe to bolster energy security, and that investment into the area continues to be strong," Chief Executive Brian Larkin says.
Current stock price: 0.95 pence, up 5.6% in London on Wednesday afternoon
12-month change: down 53%
By Heather Rydings, Alliance News senior economics reporter
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