United Oil & Gas Plc ( (GB:UOG) ) has provided an update.
United Oil & Gas Plc has announced a technical and operational update on its Walton Morant Licence offshore Jamaica, highlighting a two-year licence extension to 2028 and renewed interest in its farm-out process. The licence, which is considered a world-class asset, holds significant exploration potential with over 2.4 billion barrels of independently certified prospective resources and internal estimates exceeding 7 billion barrels. The company is actively engaging with multiple parties under NDAs to unlock the full potential of this asset, which is supported by strong government backing and competitive fiscal terms.
More about United Oil & Gas Plc
United Oil & Gas Plc is an oil and gas company with a development asset in the UK and a high-impact exploration licence in Jamaica. The company focuses on exploring and developing oil and gas resources, with a particular emphasis on frontier exploration opportunities.
YTD Price Performance: -5.00%
Average Trading Volume: 49,907,293
Technical Sentiment Signal: Strong Buy
Current Market Cap: £1.77M
For detailed information about UOG stock, go to TipRanks’ Stock Analysis page.