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 […]
Tag: United Oil & Gas plc
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 […]
United on course to complete SPA for gas licence in Italy
United Oil & Gas plc announced it was nearing the completion of selling its interests in the Podere Gallina licence holding the Selva gas project in Italy. SPA PXOG Marshall Ltd, a subsidiary of Prospex Energy plc, signed a conditional sales and purchase agreement to buy United’s 100%-owned subsidiary UOG Italia Srl for €2.165m ($2.54m […]
United cancels £3.2m Maria sale to Quattro
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 […]
United starts 2022 drill campaign in Abu Sennan
United Oil & Gas plc announced the spudding of the ASD-2 development oil well in the Abu Sennan licence as the start of its drill campaign onshore Egypt. ASD-2 WELL United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt. The ASD-2 is the first well in a fully funded four-well drilling […]