Business
United Successful in UK Licensing Round 31
United Successful in UK Licensing Round 31.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 1497B United Oil & Gas PLC 05 June 2019 \n\nUnited Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n5 June 2019\nUnited Oil & Gas PLC ('United' or 'the Company') \nProvisionally Awarded Four Blocks in the UK North Sea, and Two Blocks in the English Channel\n \nHighlights:\n· Blocks 14/15c, 15/11c, 15/12a, and 15/13c provisionally awarded to United in UK 31st Licensing Round on a 100% basis\n· Licences cover c. 500 km² in a highly prospective area close to Marigold and Yeoman discoveries and the substantial Piper, MacCulloch and Claymore oil fields\n· Covers multiple plays and a number of low-risk prospects, including Zeta, which has a mean in-place oil volume of over 90 million barrels*, that complement United's nearby Crown Discovery\n· Provisionally awarded 10% interest in Blocks 98/11b and 98/12 in the English Channel, which lie contiguous with United's 10% interest in the Colter P1918 Licence and contain the Ballard Point discovery and the eastern portion of the Colter South discovery \n· Awards in line with United's European-area strategy to identify and acquire low-risk assets that offer investors near term value trigger opportunities and significant value upside\n \nUnited Oil & Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce that it has been provisionally awarded, in the UK Continental Shelf 31st Offshore Licensing Round, four highly prospective blocks in the Central North Sea, including the Zeta prospect, which United estimates could contain over 90 million barrels of in-place oil. United is also part of the joint venture group that has been provisionally awarded licences in the English Channel, adjacent to the Colter discovery. \n \nCentral North Sea Blocks\nThe Company has been provisionally awarded a 100% interest in Blocks 14/15c, 15/11c, 15/12a, and 15/13c which cover an area of c. 500 sq km and contain multiple targets. The Blocks are only 10km away from United's Crown Discovery, and are in a highly prospective region, close to the Marigold and Yeoman discoveries and the substantial Piper, MacCulloch and Claymore oil fields.\n \nBlock 15/12a contains th...