United Oil & Gas plc has terminated the £5.7 million conditional sale of the Maria discovery and will withdraw from the central North Sea licence on its expiry at the end of this month. EXHAUSTED The company has several times extended the long stop date for Quattro Energy Ltd’s purchase of P2519, which depended on […]
Tag: Quattro Energy Ltd
United agrees more time for Maria sale
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 […]
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 discusses new deadline for Maria sale
United Oil & Gas plc is in advanced discussions for a further extension of the conditional sale of the UK North Sea licence P2519 containing the Maria discovery to Quattro Energy Ltd. DEADLINES Quattro, founded in early 2021, plans to sell its assets to Canadian company Jesmond Capital Ltd, which needs to raise funds for […]
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 extends sale date for Maria discovery
United Oil & Gas plc has extended the long stop date over the conditional sale of its licence P2519 containing the Maria oil discovery in the Central North Sea. SALES AGREEMENTS In January 2023, the company signed the £5.7 million asset purchase agreement (ASA), dependent on financing, with Quattro Energy Ltd for conditions to be […]