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: United Oil & Gas plc
United COO Jonathan Leather steps down after eight years
United Oil & Gas plc chief operating officer and executive director Jonathan Leather steps down after working for the company since its formation in 2015. MIXED EMOTIONS He will leave on 31 August and become a consultant with the company while the farm out process continues for its Jamaica licences. “It has been an incredible […]
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 ASD-3 tests mark second successful 2023 well
United Oil & Gas plc marked its second successful well of 2023 with the ASD-3 well interpreting 12.5 metres of net oil pay across the Abu Roash reservoir targets at Abu Sennan, onshore Egypt. ABU ROASH RESERVOIRS ASD-3 development well was drilled 1.2km northwest of the ASD-2 well and reached total depth of 3,683m on […]
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. […]