Business
Final audited results for the year ended 31/12/21
Final audited results for the year ended 31/12/21.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2838J\n United Oil & Gas PLC\n 26 April 2022\n \n \n \n \n 26 April 2022 Registered number: 09624969\n \n \n \n \n \n \n \n \n United Oil and Gas Plc \n \n \n (\"United\" \"the Group\" or the \"Company\")\n \n \n \n \n \n Final audited results for the year ended 31 December 2021\n \n \n \n \n \n Shareholder call, Notice of AGM and 2021 Annual Report and Accounts\n \n \n \n \n \n \n \n \n United Oil & Gas PLC (AIM: \"UOG\"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to announce its audited results for the year ended 31 December 2021. \n A shareholder and an analyst call will take place this morning, details are below.\n \n \n \n \n \n Brian Larkin, Chief Executive Officer commented: \n \n \n \"United has delivered strong financial performance and excellent drilling success in 2021 with all five wells in the programme adding production and cashflow to the Company. We have re-focused the portfolio which offers attractive growth and investment opportunities. We enter 2022\n \n with an asset base leveraged to the higher oil price environment and with a strong balance sheet which provide a platform for growth. \n \n \n \n \n \n \n \"We have much to look forward to in 2022, with the five-well drilling campaign in Egypt which has had a great start with the successful ASD-2 development well and the recent spudding of the ASD-1X exploration well. In Jamaica the combination of support from our stakeholders in the form of a licence extension and high oil price have re-invigorated the farmout campaign while in the UK, we are excited about the commercialisation opportunities that the licence containing the Maria discovery offers.\n \n \n \n \n \n \n \"We have multiple growth opportunities in our portfolio and with our strong balance sheet, we look to complement organic growth with the pursuit of new business opportunities\n \n \"\n \n \n \n \n \n 2021 Operational summary \n \n \n · \n Group working interest 2021 production averaged 2,327 boepd (2020: 2,195\n boepd\n )1 in line with production guidance of 2,100-2,300 boepd issued on 6 September 2021\n \n \n - \n 100% drilling su...