Oil strike14 Sep 2018 15:38
United Oil & Gas Plc CEO, Brian Larkin, said, "The Colter well remains on track to be United's second well since the Company's Readmission in July 2017. As with the successful Podere Maiar gas discovery in Italy, Colter has an excellent address, being located close to Europe's largest onshore oil field; is targeting an historic discovery that has significant upside; and has good access to infrastructure. Colter may be a low risk appraisal play but with independently assigned contingent resources of 4mmbbls and additional gross prospective resources of 15mmbbls, it has the potential to generate high reward for United shareholders. I look forward to providing further updates on activity not only at Colter, but across our portfolio of near-term, low-risk development opportunities in Europe and higher-risk, high-impact exploration in Jamaica, during what promises to be an exciting period for United."Â