Business
Spudding commences on Italian licence
Spudding commences on Italian licence.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 0845X United Oil & Gas PLC 21 November 2017 \n\n \n 21 November 2017 \n \nUnited Oil & Gas Plc \n (\"UOG\", \"United\" or the \"Company\")\nSpudding commences on Italian licence\n \nUnited Oil & Gas Plc (\"UOG\", \"United\" or the \"Company\"), the London Stock Exchange listed oil and gas exploration and development company, issues the following update on the Italian Podere Gallina licence:\n \nUnited Oil & Gas Plc, is delighted to announce that further to the update announcement of 24 October 2017, Po Valley Energy Ltd (\"PVE\"), the licence operator, has spudded (commenced drilling) the Podere Maiar well. It is understood that the well will take approximately 5 weeks to drill. Well-testing is planned in the case of success, and will be undertaken once drilling operations have been completed\n \nBrian Larkin, CEO commented: \n\"We are extremely pleased that United's first well has been spudded. This will be an important milestone in the development of the Company. \n \nUnited has a clear strategy of acquiring, developing and unlocking the value of low risk projects in Europe, while seeking high impact exploration opportunities in Africa and Latin America. This first well is an important step in implementing that strategy.\"\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (E...