Business
Provisional Award of Two Blocks in the North Sea
Provisional Award of Two Blocks in the North Sea.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9967X\n United Oil & Gas PLC\n 03 September 2020\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) (\"MAR\"). \n \n \n United Oil and Gas Plc \n \n \n (\"United\" or, \"the Company\")\n \n \n 3 September 2020\n \n \n Provisional Award of Two Blocks in the UK North Sea\n \n \n \n \n \n United Oil & Gas PLC (AIM: \"UOG\"), \n the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets \n is pleased to announce the provisional award of Blocks 15/18e and 15/19c to United in the UK 32nd Licensing Round on a 100% Basis.\n \n \n · \n Blocks cover c.225km2 in an area close to the Marigold and Yeoman discoveries and the substantial Piper, MacCulloch and Claymore oil fields\n \n \n · \n Minimal cost work programme agreed, which will involve\n the purchase of an existing high-quality 3D seismic dataset and detailed geological and geophysical analysis\n \n \n · \n Awarded blocks include:\n \n \n o \n the Palaeocene Maria discovery, which United estimated as part of its licence application to hold c. 6 MMboe mid-case recoverable resources\n \n \n o \n two Jurassic discoveries; Brochel and 15/18a-6, the latter of which was drilled by Shell in 1987 and flowed at over 2,000 boepd on test\n \n \n o \n the Palaeocene Dunvegan prospect\n \n \n · \n New blocks are adjacent to United's P2480 Licence, containing the Zeta prospect, providing the Company with a balanced portfolio of discovered and prospective resources in an area of the North Sea in which the Company has a track record of successful divestments\n \n \n \n \n \n Blocks 15/18e and 15/19c\n \n \n The Company has been provisionally awarded a 100% interest in Blocks 15/18e and 15/19c, which cover an area of c. 225 km2 and contain multiple targets. The Blocks are less than 10km away from United's P2480 Licence, which contains the Zeta prospect, and add a number of existing discoveries and prospects to United's exciting portfolio of assets in what is a highly-prospective and active area. The Blocks are close to the Piper, MacCulloch and Claymore oil fields, and adjacent to the Marigold and Yeoman discoveries, which are currently being developed by Anasuria Hibiscus UK Ltd. United have a track record o...