United Oil & Gas plc said it had terminated the agreement with Quattro Energy Ltd to sell its licences in the UK Central North Sea. AGREEMENT The Oil and Gas Authority (OGA) awarded United licence P2480 in its the 31st Licensing Round in August 2019 and licence P2519 in the 32nd Licensing Round, in December 2020. In September 2021, United […]
Tag: Maria oil discovery – Outer Moray Firth Basin – Central North Sea
United signs £3.2m SPA with Quattro for Maria discovery
United Oil & Gas plc has entered into a binding sale and purchase agreement (SPA) with Quattro Energy Ltd to sell its UK Central North Sea Licences P2480 and P2519 for a headline consideration of up to £3.2 million. TERMS Quattro will pay an initial £2m to United in cash on completion. A further £1.2m will be paid to […]
United to exit North Sea with £3.2m Maria sale
United Oil & Gas plc has signed a non-binding heads of terms agreement to sell its UK Central North Sea licences P2480 and P2519 to newly formed Quattro Energy Ltd for up to £3.2 million. REVIEW United holds a 100% equity interest in each, with licence P2519 including the Maria discovery in block 15/18. The company […]