A
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United Oil & Gas PLC (AIM:UOG) | RNS | United Oil & Gas PLC - Notice of Full Year 2020 Results
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Valeura Energy Inc. Announces Revised Outside Date for Shallow Gas Business Sale
Company or
Valeura ), an upstream oil and gas company with assets in the Thrace Basin of Turkey, has agreed with TBNG Limited (the
Buyer ) to amend the long stop date (the
Outside Date ) for the completion of the previously announced sale of its shallow conventional gas business (the
Sale Transaction ).
The parties have made progress on satisfying the closing conditions for the Sale Transaction having obtained one of two key government consents, with only one approval remaining outstanding. Valeura and the Buyer have agreed to revise the Outside Date from April 19, 2021 to July 30, 2021 to continue the approval process. Both parties remain committed to the transaction.
United Oil & Gas PLC (AIM: UOG ), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to provide the following reserves update on the Abu Sennan concession, onshore Egypt (the Licence ). Highlights: · Independent reserves and resources report, relevant to end 2020, by Gaffney Cline & Associates ( Independent Reserves Report ) indicates material increase in reserves at Abu Sennan: o 24% increase in Abu Sennan Gross 2P Reserves to 16.8 MMboe (15% gas) from 13.5 MMboe at the beginning of 2020, representing a near 200% reserves replacement ratio, before the recent drilling success at the ASH-3 and ASD-1X wells o Gross 1P reserves up by 59% to 6.7 MMboe and gross 3P reserves up by 21% to 34.7 MMboe (from 4.2 MMboe and 28.6 MMboe respectively at the beginning of 2020)
14 April 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION . THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER FOR SALE OR SUBSCRIPTION IN RESPECT OF ANY SECURITIES IN THE COMPANY . THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF JERSEY OIL AND GAS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
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