United Oil & Gas said its Egyptian assets had performed beyond expectations during the first half of 2021. ABU SENNAN Revenues for H1 2021 are expected to be $10.3 to $10.5 million. Group cash balance was $2m, total cash collections of $8.2m and cash capital expenditure of $3m. United invested $2.2m in the Abu Sennan […]
Tag: Abu Sennan – Egypt
United plans tests after ASD-1X results at Abu Sennan
United Oil & Gas plc announced preliminary results from the ASD-1X exploration well suggested at least 22m net oil pay at its Abu Sennan concession onshore Egypt. The results were across a number of reservoirs, including the Abu Roash C, Abu Roash E, Lower Bahariya and Kharita formations. United, which holds a 22% working interest […]
United nears completion of initial testing of ASH-3
United Oil & Gas plc expects initial testing to be completed at the ASH-3 well ahead of being brought onstream at the joint venture Abu Sennan concession, onshore Egypt. PRODUCTION The company added that the well encountered 27.5m of net pay interpreted over a 59m gross section in the targeted Alem El Buieb (AEB) reservoir. […]
United remains within guidance on production increase
United Oil & Gas has announced that production remained within guidance following an increase from its Abu Sennan interest, onshore Egypt. PRODUCTION The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. In its fourth quarter results for 2020, United reported its second half net working interest averaged […]
United aims to exceed production guidance
United Oil & Gas plc announced it expected to exceed the previous guidance of 2,300 boepd when the company starts drilling at its joint venture Abu Sennan licence, onshore Egypt. DRILL CAMPAIGN The company said it had awarded an EDC-50 rig contract with low-cost rig rates linked to oil prices. The rig is due to […]
United H1 success secured by Egyptian assets
United Oil & Gas plc reported a successful first half of 2020 with group revenue of $2.4 million (£1.86m) and gross profit of $0.3 million (£0.23m) due to the company’s integration of its Egypt assets. Interim results showed profit after tax at $1.8 million (£1.4m) with realised oil price of $28.26/bbl. Cash collections in the […]