RE: Another piece of Great news for UOG9 Aug 2023 11:35
Jono read rns
Additional drilling in H2 2023 has now been agreed by the JV partners and is expected to commence in September. An exciting exploration prospect, ASM, lying to the south of the prolific ASD Field has been approved for exploration drilling, and following on from the success of ASH-8, an additional target within the ASH Field has been identified for further appraisal. Further details on the timing and order of the H2 drilling programme will be announced in due course.
United Chief Executive Officer, Brian Larkin commented:
"We have had a strong start to the first half of the year from our Egyptian drilling programme with two successful development wells coming onstream and positive results from our low cost workover programme. We are cognisant of the short term challenges in Egypt and with this in mind are delighted to continue drilling in the second half, initially targeting one exploration and one appraisal well In this highly prospective licence. We look forward to announcing further details in due course.
finance is more to do with forward buying and delayed revenue payments 6.4 mill revenue H1 though