Business
Clarification Regarding Oil Discovery Speculation
Clarification Regarding Oil Discovery Speculation.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n\n United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n27 August 2024\nUnited Oil & Gas plc\n(\"United\" or \"the Company\")\n \nClarification Regarding Oil Discovery Speculation in Jamaican Media\n \nUnited 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.\n \nUnited 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.\n \n \nBrian 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.\nWe 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.\"\n \nEND\n \n \n \n \n \n\n\n\n\nEnquiries\n\n\n\n\n\n\n\n\n\n\nUnited Oil & Gas Plc (Company)\n\n\n\n\n\n\n\n\n\n\nBrian Larkin, CEO\n\n\n\n\n\[email protected]\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBeaumont Cornish Limited (Nominated Adviser)\n\n\n\n\n\n\n\n\n\n\nRoland Cornish | Felicity Geidt | Asia Szusciak\n\n\n\n\n\n+44 (0) 20 7628 3396\n\n\n\n\n \nTennyson Securities (Joint Broker)\n\n\n\n\n\n\n\n\n\n\nPeter Krens\n\n\n\n\n\n+44 (0) 20 7186 9030\n\n\n\n\n \nOptiva Securities Limited (Joint Broker)\n\n\n\n\n\n\n\n\n\n\nChristian Dennis\n\n\n\n\n\n+44 (0) 20 3137 1902\n \n \n\n\n\n\nShard Capital Limited (Joint Broker)\nDamon Heath | Isabella Pierre \n\n\n\n\n\n+44 (0) 207 186 9900\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCamarco (Financial PR)\n\n\n\n\n\n...