Business
Maria Discovery, North Sea Licence Update
Maria Discovery, North Sea Licence 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 \n1 August 2023\nUnited Oil & Gas plc\n(\"United\" or \"the Company\")\n \nMaria Discovery, North Sea Licence 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, provides an update on the conditional sale of the UK Central North Sea Licence P2519 containing the Maria discovery in Block 15/18 to Quattro Energy Limited (\"Quattro\").\n \nOn 18 January 2023 United announced that it had entered into a binding asset purchase agreement (APA) with Quattro for the conditional sale of its UK Central North Sea Licence P2519. Further to the announcement of 18 May 2023 United confirms that all conditions under the APA have not been met by the expiry of the long stop date on the 31 July. The Company are in advanced discussions with Quattro regarding a possible further extension and expects to be in a position to update the market shortly.\n \n \nEND\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).\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\nPeter Dunne, CFO\n\n\n\n\n\[email protected]\n \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\n\n\n\n\n\n\n\n\n\nCamarco (Financial PR)\n\n\n\n\n\n\n\n\n\n\nGeorgia Edmonds | Emily Hall | Sam Morris\n\n\n\n\n\n+44 (0) 20 3757 4983\n\n\n\n \nNotes to Editors\nUnited Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration as...