Business
Corporate and Jamaica update
Corporate and Jamaica update.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n\nUnited Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n23 November 2023\nUnited Oil & Gas plc\n(\"United\" or \"the Company\")\nCorporate and Jamaica update\n \nUnited Oil & Gas Plc (AIM: \"UOG\"), the full-cycle oil and gas company with a portfolio of production, development, exploration and appraisal assets, issues the following Corporate and Jamaica update.\n \nCorporate Update\n \nThe Company is pleased to announce that Simon Brett has been appointed Interim Chief Financial Officer (non board appointment) and Company Secretary, effective immediately. Simon brings a wealth of sectoral and public market experience having worked fourteen years in Barryroe Offshore Energy plc (\"Barryroe\") in a senior executive position and latterly ten years as CFO. Before Barryroe, Simon held senior finance positions with Coca Cola Bottlers Ireland Limited, USC Europe Limited and Sega Europe Limited. The Company has commenced a selection process for a permanent CFO with a permanent appointment to be made in due course. Peter Dunne will step down from the Board on 15th December and will leave the Company effective 31st December in order to take up the position of Chief Financial Officer of daa plc, as previously announced.\n \nJamaica Update\n \nFurther to the announcement of 9th November, the Company has been informed by the counterparty that had been identified as a preferred potential partner, that they no longer wish to pursue further discussions in relation to participation in the Walton Morant Licence. The Company will now focus on the recent positive interest that has been shown by other parties in potentially participating in this high impact exploration opportunity and United and our advisors will continue in our efforts to secure a partner. The Board believes that the renewed interest in exploration opportunities worldwide which is being driven by the strong future demand for oil and gas, will support our farmout efforts.\n \nThe Company continues to engage with the Jamaican authorities to secure an extension to the current licence period which expires at the end of January 2024, with a negotiated work programme that comprises additional technical work that would further de-risk the licence prior to the drilling of the exploration well. This work is aimed at m...