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United Oil & Gas Plc ( (GB:UOG) ) has issued an announcement.
United Oil & Gas PLC has announced the posting of a shareholder circular and notice of a general meeting to discuss resolutions related to a conditional fundraising of approximately £2.33 million. This fundraising is crucial for the company to proceed with a piston core survey, which is vital for fulfilling its long-term exploration and appraisal programme. Failure to secure these funds could adversely affect the company’s operations, financial condition, and ability to meet existing commitments, potentially leading to the suspension or withdrawal of its licences.
More about United Oil & Gas Plc
United Oil & Gas is an oil and gas company with a development asset in the UK and a high impact exploration licence in Jamaica. The company is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players, and is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions. United Oil & Gas is listed on the AIM market of the London Stock Exchange.
Average Trading Volume: 37,985,234
Technical Sentiment Signal: Sell
Current Market Cap: £4.17M
For detailed information about UOG stock, go to TipRanks’ Stock Analysis page.