Business
Egypt Update in response to media reports
Egypt Update in response to media reports.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 6992X United Oil & Gas PLC 20 December 2019 \n\nUnited Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n20th December 2019\n \nUnited Oil & Gas PLC ('United' or 'UOG' or 'the Company')\n \nEgypt Update in response to media reports\n \nOn 23 July 2019 United Oil & Gas PLC (AIM: \"UOG\"), the AIM traded oil and gas exploration and development company, announced the proposed acquisition of Rockhopper Egypt Pty Ltd from Rockhopper Exploration Plc. The acquisition will include a 22% non-operating interest in the Abu Sennan concession onshore Egypt. United issue the following statement pursuant to media reports in Egypt and some significant share price movement since market opening today.\nBrian Larkin CEO, United Oil and Gas PLC:\n\"It has been very encouraging to see the positive results so far from the ASH-2 well, with 50m of net oil pay recorded and flow rates of 7,000 bopd achieved on test. However, with testing still in progress, it would be premature to draw any further conclusions on the oil volumes associated with the well, or the sustainable production rates that may be possible from it. It is worth emphasising that these could be significantly lower than the initial test, and we will keep the market updated as more information becomes available from the ongoing well-testing.\"\n \nENDS\n \n\n\n\n\nUnited Oil & Gas Plc (Company)\n\n\n \n\n\n\n\nBrian Larkin, CEO\n\n\[email protected]\n\n\n\n\nBeaumont Cornish Limited (Nominated Adviser)\n\n\n \n\n\n\n\nRoland Cornish and Felicity Geidt\n\n\n+44 (0) 20 7628 3396\n\n\n\n\nOptiva Securities Limited (Joint Broker)\n\n\n \n\n\n\n\nChristian Dennis\n\n\n+44 (0) 20 3137 1902\n\n\n\n\nCenkos Securities Plc (Joint Broker)\n\n\n \n\n\n\n\nJoe Nally (Corporate Broking)\nDerrick Lee and Pete Lynch\n\n\n +44 (0) 20 7397 8900\n+44 (0) 131 220 6939\n\n\n\n\nMurray (PR Advisor)\n\n\n+353 (0) 87 6909735\n\n\n\n\nJoe Heron\n\n\[email protected] \n\n\n\n\n \n\n\n \n\n\n\n\nSt Brides Partners (Financial PR/IR)\n\n\n \n\n\n\n\nFrank Buhagiar and Priit Piip\n\n\n+44 (0) 207 236 1177\n\n\n\n\n \nNotes to Editors\n \nUnited Oil & Gas plc (UOG) is an AIM-traded company. United was established to explore, appraise and...