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The latest announcement is out from United Oil & Gas Plc ( (GB:UOG) ).
United Oil & Gas Plc announced a successful fundraising effort, raising £800,000 through the issuance of new ordinary shares. The funds will support the ongoing farm-out process for the Walton-Morant Licence in Jamaica and provide general working capital. The fundraising was significantly oversubscribed, indicating strong investor confidence in the company’s strategy and asset base. The Walton-Morant Licence, with its multi-billion-barrel potential and favorable operating environment, is a key focus for United Oil & Gas as it seeks to secure a partner to advance the project.
More about United Oil & Gas Plc
United Oil & Gas is an oil and gas company with development assets in the UK and a high-impact exploration license in Jamaica. The company is led by an experienced management team with a strong track record in growing full-cycle businesses and is listed on the AIM market of the London Stock Exchange.
Average Trading Volume: 77,622,693
Technical Sentiment Signal: Sell
Current Market Cap: £4.76M
For detailed information about UOG stock, go to TipRanks’ Stock Analysis page.