News Oil & Gas

United nears closing sale of Selva interest

Posted on Author editorial Comments Off on 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.

Deal: consent to the change of control was the final condition in the SPA (CGG GeoConsulting)

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 with PXOG Marshall Ltd, a subsidiary of Prospex for the sale of 100% of the share capital of UOG Italia Srl for €2,164,701.

FUNDS

United today said that the Ministry of Ecological Transition’s consent to the change of control was the final condition in the sale and purchase agreement with Prospex.

The deed of transfer awaits legal execution and for Prospex to pay United for the remainder of the acquisition. 

Related Articles
News Oil & Gas

IGas swings to a profit and nearly doubles revenues

Posted on Author editorial

IGas Energy plc swung to a profit and reduced debt following “exceptionally strong” commodity prices for its onshore oil and gas assets in England and Scotland. FINANCES In the company’s interim results to six months ended 30 June 2022, interim executive chairman Chris Hopkinson also called for streamlined regulations for shale gas following the Government […]
Company Moves Metals & Minerals News

Oriole appoints Eileen Carr as non-executive chairman

Posted on Author editorial

Oriole Resources plc has appointed Eileen Carr to the board as non-executive chairman effective from 17 February 2022. She will replace John McGloin who is leaving to become chief executive officer of Diamond Fields Resources Inc. Ms Carr is a chartered certified accountant with more 30 years’ of experience in worldwide, large-scale mining operations. She was […]
Metals & Minerals News

Tertiary sampling shows multiple copper soil anomalies at Jacks

Posted on Author editorial

Tertiary Minerals plc reported multiple copper soil anomalies from preliminary sampling results at its Jacks copper project in Zambia. JACKS The prospect lies within exploration licence 27069-HQ-LEL, covering 141.4 km2,and located 85km south of Luanshya. DRILL TESTING In September, the company began the detailed soil sampling programme which it completed on schedule and on budget. […]