United Oil & Gas awaits mobilisation of drilling unit to Colter well

(Sharecast News) - Exploration and development outfit United Oil & Gas has seen the Ensco 72 jack-up drilling unit contracted to dill the Colter appraisal well mobilise to the Wick prospect drilling location.United, which holds a 10% interest in Corallian Energy's well, told investors on Wednesday that, as soon as drilling operations at Wick were completed, the drilling unit would then be mobilised to the Colter drilling location.Colter, which was scheduled to be drilled during the first quarter of 2019, lies immediately to the south of Europe's largest onshore oil field at Wytch Farm.Chief executive Brian Larkin, said: "As well as appraising a historic discovery at Colter, which we believe could hold in aggregate up to 19mmbbls of gross contingent and prospective resources, shareholders can look forward to further high impact activity across our portfolio of late stage European development projects and frontier exploration offshore Jamaica."As of 1210 GMT, United shares had picked up 2.31% to 3.99p.