United Oil & Gas (UOG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.16p
   
  • Change Today:
      0.005p
  • 52 Week High: 0.32p
  • 52 Week Low: 0.068p
  • Currency: UK Pounds
  • Shares Issued: 2,513.32m
  • Volume: 18,011,704
  • Market Cap: £4.02m
  • RiskGrade: 324

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United Oil spuds latest Abu Sennan development well

By Josh White

Date: Tuesday 21 Jun 2022

LONDON (ShareCast) - (Sharecast News) - United Oil & Gas announced the spudding of the Al Jahraa-14 development (AJ-14) well in the Abu Sennan licence, onshore Egypt on Tuesday.
The AIM-traded well said frilling of the well had started, with it primarily targeting the main producing c Abu Roash C (ARC) reservoir on the Al Jahraa Field, with a secondary target in the Abu Roash G (ARG).

It said the well was expected to take about 60 days to drill and complete, and was fully funded from operational cash flow.

On completion of drilling, AJ-14 was expected to be brought into production "rapidly", the company added.

"We look forward to continuing the 2022 drilling programme with the spudding of the AJ-14 development well, the third of five wells expected to be drilled this year," said chief executive officer Brian Larkin.

"As we have shown, successful development wells can be brought into production within days via existing infrastructure, adding production and revenue to the company and with a typical well achieving payback within several months.

"Egypt offers a low-cost operating environment, with attractive fiscal terms and continues to deliver positive operating cash flow to United."

At 1317 BST, shares in United Oil & Gas were up 7.78% at 1.94p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

UOG Market Data

Currency UK Pounds
Share Price 0.16p
Change Today 0.005p
% Change 3.23 %
52 Week High 0.32p
52 Week Low 0.068p
Volume 18,011,704
Shares Issued 2,513.32m
Market Cap £4.02m
RiskGrade 324

UOG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.39% above the market average43.39% above the market average43.39% above the market average43.39% above the market average43.39% above the market average
7.04% above the sector average7.04% above the sector average7.04% above the sector average7.04% above the sector average7.04% above the sector average
Price Trend
21.84% below the market average21.84% below the market average21.84% below the market average21.84% below the market average21.84% below the market average
4.11% above the sector average4.11% above the sector average4.11% above the sector average4.11% above the sector average4.11% above the sector average
Income Not Available
Growth Not Available

UOG Dividends

No dividends found

Trades for 28-Aug-2025

Time Volume / Share Price
16:03 329 @ 0.17p
15:33 5,296 @ 0.17p
15:33 259 @ 0.17p
15:33 5,556 @ 0.15p
15:33 9,343 @ 0.17p

UOG Key Personnel

CEO Brian Larkin

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