United Oil & Gas PLC Q4 Production Update (4696L)
January 13 2021 - 2:00AM
UK Regulatory
TIDMUOG
RNS Number : 4696L
United Oil & Gas PLC
13 January 2021
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil
& Gas
13 January 2021
United Oil and Gas plc
("United" or "the Company")
Quarterly Production Report
United Oil & Gas PLC (AIM: "UOG"), the full-cycle
multinational oil and gas company, offers a quarterly production
update for the period to the end of 2020.
-- United's H2 2020 net working interest production averaged
2,340 boepd in line with guidance for the period of 2,300 boepd
-- Q4 2020 net working interest production averaged 2,243 boepd
(1,960 bopd oil and 283 boepd gas)
-- With the ASH gas pipeline coming onstream on the 27(th)
December, United exited 2020 with net working interest production
of 2,389 boepd
All of United's production for the period was from the Kuwait
Energy Egypt ("KEE") operated Abu Sennan Licence, Egypt, in which
United holds a 22% working interest.
This data will vary quarter on quarter as development, appraisal
and exploration operations continue.
United Chief Operating Officer, Jonathan Leather commented:
"The Abu Sennan asset continues to perform strongly. With the
ASH gas pipeline coming onstream at the end of the year, 2021 has
already seen a boost to production, with c.220 boepd of additional
gas now being captured on a net basis.
"United are looking forward to further potential production
additions from Abu Sennan in 2021, with a number of activities
planned. Drilling at ASH-3, the first of a multi-well programme, is
currently underway, with results from this well due in Q1."
**ENDS**
Jonathan Leather, an Executive Director of the Company, who has
over 20 years of relevant experience in the oil and gas industry,
has reviewed and approved the information contained in this
announcement. Dr Jonathan Leather is a qualified person as defined
in the guidance note for Mining Oil & Gas Companies of the
London Stock Exchange and is a member of the Petroleum Exploration
Society of Great Britain and the Society of Petroleum
Engineers.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
United Oil & Gas Plc (Company)
Brian Larkin, CEO brian.larkin@uogplc.com
Beaumont Cornish Limited (Nominated
Adviser)
Roland Cornish and Felicity Geidt +44 (0) 20 7628 3396
Optiva Securities Limited (Joint
Broker)
Christian Dennis +44 (0) 20 3137 1902
Cenkos Securities Plc (Joint Broker)
Joe Nally (Corporate Broking) +44 (0) 20 7397 8900
Derrick Lee and Pete Lynch +44 (0) 131 220 6939
Murray (PR Advisor) +353 (0) 87 6909735
Joe Heron jheron@murrayconsultants.ie
Camarco (Financial PR/IR)
Billy Clegg +44 (0) 20 3757 4983
Georgia Edmonds uog@camarco.co.uk
James Crothers
Notes to Editors
United Oil & Gas is a high growth oil and gas company with a
portfolio of low-risk, cash generative production and development
assets across Egypt, UK, Italy and a high impact exploration
licence in Jamaica.
Led by an experienced management team with a strong track record
of growing full cycle businesses and partnered with established
industry players, the Company is well positioned to deliver future
growth through portfolio optimisation and targeted
acquisitions.
United Oil & Gas is listed on the AIM market of the London
Stock Exchange. For further information on United Oil and Gas
please visit https://www.uogplc.com/
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END
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