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Pin to quick picksUnited Oil&gas Share News (UOG)

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United Oil raises £3m for new investments through oversubscribed placing

Tue, 18th Sep 2018 12:43

(Sharecast News) - Exploration and development company United Oil & Gas has raised £3m via an oversubscribed placing and subscription with existing and new investors, it announced on Tuesday.The London-listed firm said the fundraising consisted of 54,545,454 new ordinary shares at a price of 5.5p per placing share.It said placees would also receive a total of 40,909,080 warrants over ordinary shares in the company, on the basis of three warrants exercisable at 8p per share for every four placing shares, rounded down to the nearest warrant.The warrants would have a four-year life, and would be exercisable from the first anniversary of issue.United said the warrants would not be listed, adding that the issue of the shares and the warrants remained subject to shareholder approval.It said the placing was supported by "certain strategic investors", in recognition of the "quality and underlying value" of its existing assets and its management's ability to use that as a platform from which to further grow the firm and build value.United said it has a dual-focussed portfolio of low risk, late stage appraisal and development projects in Europe, and high-impact exploration plays in the Caribbean, Latin America and Africa.The company was reportedly evaluating a number of potential projects, with its board saying it believed the new funds would assist it in securing "one or more" of those projects, should it decide that the projects represented attractive opportunities for shareholders."We are delighted with the result of this oversubscribed placing," said United Oil & Gas chief executive officer Brian Larkin."This is further validation of our strategy of building a strong and diverse portfolio of late stage development projects in Europe, and high-impact exploration in the Caribbean."Larkin said the company's portfolio already included a commercial gas discovery onshore Italy that was currently going through the permitting process; an interest in the upcoming well to appraise the Colter discovery in the UK which lay on the same trend as onshore Europe's most prolific oil field; and a 20% interest in the Tullow Oil-operated Walton-Morant licence, offshore Jamaica, which held the high grade 200 mmbbl Colibri target."We do not intend to stop here, and these funds will be used to facilitate the expansion of our portfolio, as we look to add to the long pipeline of value driving opportunities which our shareholders are already exposed to."I look forward to providing further updates on our progress in the near future which will reward the support of both new and existing shareholders."
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27 Jul 2022 14:26

IN BRIEF: United Oil & Gas produces less oil as price skyrockets

United Oil & Gas PLC - oil and gas company operating in Egypt, Italy and UK - Produces less oil in the half-year to June 30 than a year ago as the realised oil price skyrockets.

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6 Jul 2022 09:42

United Oil & Gas finds no hydrocarbons at ASV-1X well in Egypt

(Alliance News) - United Oil & Gas PLC shares fell on Wednesday, as the firm shared disappointing news from its exploration well in Abu Sennan license, onshore Egypt.

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21 Jun 2022 22:13

TRADING UPDATES: Coca-Cola HBC and Pendragon shareholders show ire

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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21 Jun 2022 14:56

United Oil spuds latest Abu Sennan development well

(Sharecast News) - United Oil & Gas announced the spudding of the Al Jahraa-14 development (AJ-14) well in the Abu Sennan licence, onshore Egypt on Tuesday.

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25 May 2022 16:04

UK shareholder meetings calendar - next 7 days

Thursday 26 May 
Aminex PLCAGM
Bank of Ireland Group PLCAGM
Belvoir Group PLCAGM
Central Asia Metals PLCAGM
Curtis Banks Group PLCAGM
Diaceutics PLCAGM
Duke Royalty LtdEGM re fundraise
East Star Resources PLCAGM
Energean PLCAGM
Henry Boot PLCAGM
Hochschild Mining PLCAGM
Legal & General Group PLCAGM
National World PLCAGM
Ocean Wilsons Holdings LtdAGM
OnTheMarket PLCGM re cancellation of capital
Prudential PLCAGM
S&U PLCAGM
Staffline Group PLCAGM
Strix Group PLCAGM
WAG Payment Solutions PLCAGM
Yu Group PLCAGM
Friday 27 May 
AG Barr PLCAGM
Big Technologies PLCAGM
Coca-Cola Europacific Partners PLCAGM
Destiny Pharma PLCAGM
Hostmore PLCAGM
Lancashire Holdings LtdAGM
Lekoil LtdEGM re appointment and remuneration of auditors
LSL Property Services PLCAGM
Malin Corp PLCAGM
Old Mutual LtdAGM
Oxford BioMedica PLCAGM
Renewables Infrastructure Group LtdAGM
Spectris PLCAGM
Monday 30 May 
Adriatic Metals PLCAGM
Clarify Pharma PLCAGM
Tuesday 31 May 
GYG PLCAGM
JTC PLCAGM
Lookers PLCAGM
McColl's Retail Group PLCAGM
Microlise Group PLCAGM
PageGroup PLCAGM
Petershill Partners PLCAGM
Sportech PLCAGM
Tekcapital PLCAGM
Wednesday 1 June  
Boku IncAGM
Parsley Box Group PLCAGM
One Media IP Group PLCAGM
United Oil & Gas PLCAGM
Flowtech Fluidpower PLCAGM
Dianomi PLCAGM
Honeycomb Investment Trust PLCGM re combination with Pollen Street Capital
East Imperial PLCAGM
Secure Income REIT PLCAGM
Public Policy Holding Co IncAGM
  
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5 May 2022 14:49

IN BRIEF: United Oil & Gas hires former Origin Enterprises exec as CFO

United Oil & Gas PLC - London-based oil and gas company with projects in Egypt, Italy and the UK - Hires Peter Dunne as chief financial officer, starting Thursday. Dunne also will join the board and become company secretary at the company's annual general meeting on June 1, replacing David Quirke. Dunne joins from West Africa-focused Boru Energy Ltd, where he also was CFO. Prior to Boru, Dunne was finance director at AIM listing Origin Enterprises PLC and former AIM listing Petroceltic International PLC.

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26 Apr 2022 18:03

TRADING UPDATES: Billington faces headwinds; Immotion plans spin-off

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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26 Apr 2022 15:51

EXECUTIVE CHANGES: Carnival promotes COO & UK chief Weinstein to CEO

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:

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19 Apr 2022 18:01

IN BRIEF: United Oil & Gas meets production guidance in first quarter

United Oil & Gas PLC - London-based oil and gas company with projects in Egypt, Italy and the UK - First quarter production averages 1,567 barrels of oil equivalent per day in 2022. In the first quarter of 2021, United's net working interest production totalled 2,520 boepd. First half guidance for 2022 is between 1,500 to 1,650 boepd. All of United's production for the period was from its 22% non-operating interest in the Abu Sennan licence in Egypt. Says the first well in its 2022 drilling campaign started production at the end of March. The second well, ASV-1X, has commenced drilling.

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19 Apr 2022 12:40

United Oil makes production, development progress

(Sharecast News) - United Oil reported average first quarter production of 1,567 barrels of oil equivalent per day in an update on Tuesday.

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11 Apr 2022 21:14

TRADING UPDATES: WANdisco bookings up; STM legal appeal denied

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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8 Apr 2022 21:57

TRADING UPDATES: Block Energy ups production; SEEEN wins new customers

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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28 Mar 2022 18:17

IN BRIEF: United Oil & Gas starts production from Abu Sennan well

United Oil & Gas PLC - Dublin-based oil and gas company with assets in Egypt, the UK, Italy and Jamaica - Commences production from the ASD-2 development well in the Abu Sennan licence, onshore Egypt at an initial rate of 462 net barrels of oil per day, above pre-drill expectations.

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18 Mar 2022 20:38

TRADING UPDATES: Angle US lab boost; Corcel to capitalise on nickel

(Alliance News) - The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:

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15 Mar 2022 14:28

United Oil rises on latest Abu Sennan drilling

(Sharecast News) - United Oil updated the market on the drilling of the ASD-2 development well in the Abu Sennan licence, onshore Egypt on Tuesday, where it holds a 22% working interest in the licence operated by Kuwait Energy Egypt.

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