IN BRIEF: United Oil & Gas Notes Abu Sennan Reserves Increase

Wed, 24th Jun 2020 11:59

United Oil & Gas PLC - Morocco-focused oil & gas - Reserves report by Gaffney Cline & Associates indicates 13% increase in Abu Sennan concession gross proved & probable 13.5 million barrels of oil equivalent, compared to 12 mmboe at start of 2019. Gross 1P reserves up by 76% to 4.2 mmboe and 3P reserves by 46% to 28.6 mmboe. First half of June average net production from Abu Sennan up 69% to 3,060 boepd from 1,810 boepd for April.

Current stock price: 2.94 pence

Year-to-date change: down 15%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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