United Oil & Gas plc said it had completed the sale of its assets in the Podere Gallina licence containing the Selva gas development project in Italy. APPROVAL The company sold its 100% share capital of UOG Italia Srl to PXOG Marshall Ltd, a subsidiary of Prospex Energy plc for €2,164,701 following final approvals from the […]
Tag: United Oil & Gas plc
United nears closing sale of Selva interest
United Oil & Gas plc has received approval from authorities in Italy to transfer ownership of the company’s Italian assets to Prospex Energy plc. SPA UOG Italia Srl holds a 20% non-operated interest in the Podere Gallina licence, which contains the Selva gas development project. In August 2021, United signed a conditional sales and purchase […]
United starts production from ASD-2 well at Abu Sennan
United Oil & Gas plc has started production, with rates significantly higher than pre-drill expectations, at the ASD-2 development well in Abu Sennan joint venture (JV) licence, offshore Egypt. OPERATIONS The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. The ASD-2 well is the eighth consecutive successful […]
United to receive $2.5m from Hibiscus in Crown settlement
United Oil & Gas plc said it had today signed a confidential settlement agreement with Anasuria Hibiscus UK Ltd (AHUK) for the Crown disposal milestone payment. PAYMENT The Crown discovery lies in licence P2366 across Blocks 15/18d and 15/19b. “AHUK has agreed to pay United a total of US$2,500,000 (payable in three instalments between the date […]
United hits 25.5m net oil pay across multiple reservoirs at Abu Sennan
United Oil & Gas plc said its eighth consecutive well had exceeded pre-drill expectations by meeting 25.5m of net pay across multiple oil-bearing reservoirs at Abu Sennan, onshore Egypt. ASD-2 Site operator Kuwait Energy Egypt drilled the ASD-2 development well to test the north-western culmination of the commercial discovery in the ASD field. ASD-2, the […]
United continues talks with Hibiscus on Crown oil discovery licence
United Oil & Gas plc today announced it was continuing talks over the sale of its interest in the licence containing the Crown oil discovery. CROWN OIL DISCOVERY In August 2018, United was awarded Blocks 15/18d and 15/19b, containing the Crown discovery, as part of the UK 30th offshore licencing round. MILESTONE PAYMENTS The sale to […]