United Oil & Gas Plc (GB:UOG) has released an update.
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United Oil & Gas Plc has reported its half-year results, facing challenges including foreign exchange issues in Egypt and a default notice for the Abu Sennan concession, but countered by a £1 million equity raise and a $1 million payment from EGPC. The company’s focus is on advancing its Jamaican exploration license, which holds significant potential, and the extended Waddock Cross license in the UK. Despite operational and financial hurdles, United Oil & Gas remains committed to developing its core assets and engaging with potential farmout partners.
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