News Oil & Gas

United extends deadline for £3.2m Maria sale

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United Oil & Gas plc announced an extension to the deadline for the £3.2 million sale to Quattro Energy Ltd of its licences P2480 and P2519 in the UK Central North Sea.

Satisfaction: the parties have agreed a new date to allow additional time for the SPA conditions required for completion (United Oil & Gas)

NEW DATE

The long stop date to satisfy the sale and purchase (SPA) conditions was 6 December 2021.

United said today that the parties had agreed an extension to 28 February 2022 to allow additional time for the SPA conditions required for completion.

The company first signed a non-binding heads of agreement with Quattro in July followed by a binding agreement during September.

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