14th Jun 2012 13:00
14 June 2012
UMC Energy PLC
("UMC Energy" or the "Company")
Company Presentation
UMC Energy is pleased to announce that a presentation relating to its Papua New Guinea Petroleum Project will shortly be available for download from the Company's website at www.umc-energy.com. The presentation includes further detail in relation to its Petroleum Prospecting Licences ("PPLs") 374, 375, 378 and information on PPL 405, the award of which was announced on 9 May 2012, including details of the proposed work programme for PPL 405 for which exploration expenditure in years 1 and 2 is estimated to total approximately US$2.4 million. As is the case with PPLs 374,375 and 378, all such expenditure in relation to this exploration work is to be funded by CNOOC and repaid out of future production revenues, should such production occur.
-ENDS-
For further information:
Enquiries:
Chrisilios Kyriakou, Chairman
UMC Energy Plc
Telephone: +44(0) 20 7290 3102
Angela Hallett/ James Spinney
Strand Hanson Limited
Telephone: +44 (0) 20 7409 3494
Philip Haydn-Slater/Paul Dudley
HD Capital Partners LLP
Telephone: +44 (0) 20 3551 4870
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