Business
Interim Results for the Half Year to 30 June 2021
Interim Results for the Half Year to 30 June 2021.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1401N\n United Oil & Gas PLC\n 28 September 2021\n \n \n \n \n 28 September 2021 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 Interim Results for the Half Year to 30 June 2021\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 \n its unaudited financial and operating results for the half year ended 30 June 2021. \n \n \n \n \n \n Brian Larkin, Chief Executive Officer commented: \n \n \n \"During the first half of 2021 three successful wells were drilled on Abu Sennan and the Company reached record working interest production of 2,730 boepd, delivering strong\n \n operational cashflow.\"\n \n \n \n \"The success that we enjoyed earlier in the year has led to two additional wells being added to the 2021 programme; the recent positive ASX-1X well and the new Al Jahraa 13 development well due to be drilled later this year.\"\n \n \n \"As part of the long-term objective to realise the full potential of Abu Sennan, we are pleased to be planning the drilling programme with our partners for 2022 and beyond. This plan will include multiple development and exploration wells and has the potential to deliver large reserve and production upside.\"\n \n \n \"In addition, during the period, the Company has completed a portfolio review, refocusing United around its low risk, high return production business, complemented by selected high impact exploration opportunities.\" \n \n \n \"With a production portfolio delivering strong operational cashflow, and multiple organic growth opportunities available, the Company is well placed to capitalise on new opportunities emerging across the industry both organic and external. We look forward to the remainder of the year.\"\n \n \n \n \n \n Year to date summary\n \n \n Strategic \n \n \n · \n Portfolio review completed refocusing United into a low-cost, low risk production business in Egypt and the Greater Mediterranean area complemented by selected high impact exploration opportunities in the Caribbean and Latin America\n \n \n · \n Divestments of non-core assets in UK CNS and...