Business
Operational Update
Operational Update.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 6393P United Oil & Gas PLC 04 September 2017 \n\n \nFor immediate release\n4 September 2017 \nUnited Oil & Gas Plc \n (\"UOG\" or the \"Company\")\nOperational update \nItaly\n \nUnited Oil & Gas are pleased to announce that the decree confirming the extension of the Italian Podere Gallina licence to the 3rd February 2018 has now been issued by the Ministry of Economic Development. This extension will provide adequate time for the drilling of the Podere Maiar well, currently scheduled for Q4 2017, to be completed. Successful completion of this well will satisfy the conditions for either moving into another 3 year exploration period, or, in line with the joint venture's intention to progress as quickly as possible towards a development, applying for a longer-term exploitation permit.\n \nUK\n \nSeismic reprocessing is still progressing on both the Waddock Cross field and the exploration area of the PL090 licence, onshore UK. This work will provide the Company with additional information to refine its drilling strategy on the licence. UOG is taking the time required to ensure getting as accurate a read as possible, and expects to be able to provide a further update on this work by the end of October this year.\n \nPortfolio Growth\n \nUnited Oil & Gas continue to pursue further portfolio growth, with an active pipeline of opportunities across Europe currently under evaluation. We continue discussions with other oil and gas companies and we look forward to updating the market in due course. \n \nBrian Larkin, CEO commented: \"We are very pleased with the company's progress since our admission to the Main Market of the London Stock Exchange on the 31st July. Operationally, we have advanced our work programme for 2017 and we continue to evaluate acquisitions and farm-in opportunities that will create additional material value for our shareholders.\"\n \n \nFor more information please visit the Company's website at www.uogplc.com or contact:\n \n\n\n\n\nUnited Oil & Gas Plc (Company)\n\n\n\n\n\n\n\nBrian Larkin\n\n\[email protected]\n\n\n\n\n\n\n\n\n\n\n\n\nOptiva Securities Limited (Broker)\n\n\n\n\n\n\n\nChristian Dennis\n\n\n+44 (0) 20 3137 1902\n\n\n\n\n\n\n\n\n\n\n\n\nBeaumont Cornish Limited (Financial Ad...