The long-stop date has again been extended for the conditional sale of the Maria discovery in the central North Sea. APPROVALS United Oil & Gas plc is selling licence P2519 to Quattro Energy Ltd which needs funds and is under acquisition by Jesmond Capital Ltd to form an enlarged company. The most recent long stop […]
Tag: Maria oil discovery – Outer Moray Firth Basin – Central North Sea
United extends £5.7m sale date for Maria discovery
United Oil & Gas plc has agreed a further deadline extension and a non-refundable deposit for the £5.7 million sale of its UK central North Sea licence P2519 containing the Maria discovery. REVISED TERMS The company had been in advanced talks with purchaser Quattro Energy Ltd to extend the long stop date for the sale […]
United agrees second deadline for Maria sale
United Oil & Gas plc has agreed a second deadline extension to the end of July for the sale of its North Sea licence containing the Maria discovery to Quattro Energy Ltd. QUATTRO The company initially signed the £5.7 million asset purchase agreement for P2519 with Quattro, dependent on financing, to be completed 16 April 2023. […]
United signs £5.7m deal for Maria discovery
United Oil & Gas plc has started a second attempt to sell to Quattro Energy Ltd licence P2519 containing the Maria oil discovery within block 15/18e in the UK Central North Sea. QUATTRO ENERGY The company signed a binding asset purchase agreement (APA) to sell the licence for up to £5.7m, which is a higher price […]
United reports potential contingent resources at Maria
United Oil & Gas plc reported potential “significant near-term” returns from contingent resources on the Maria discovery within licence P2519 in the UK Central North Sea (CNS). MARIA The company’s 100% owned licence P2519 includes blocks 15/18e and 15/19c and covers some 225 km2. The licence contains the existing Maria discovery in the Forties Sandstone, […]
United notes Optiva’s £33m valuation of Maria oil discovery
United Oil & Gas plc said that new research set a value of £33.5 million on the company’s Maria discovery in the Outer Moray Firth Basin in the Central North Sea. OPTIVA The company published a research note by Optiva Securities Ltd, which valued the asset at £33.5m or 5.2p per share on a risked […]