Client NewsUnited Oil & Gas PLC – Update on UK and Egyptian asset transactions
United Oil & Gas PLC – Update on UK and Egyptian asset transactions
- Important milestone passed in acquisition of Rockhopper’s producing assets in Egypt as JV partners waive pre-emption rights allowing deal to move forward
- The acquisition which remains on track to complete during Q4 2019 with an effective date of 1 January 2019, will transform United into a full cycle oil and gas company
- Sales and Purchase Agreement (“SPA”) signed for the sale of North Sea Blocks 15/18d and 15/19b (Licence P2366) for up to US$5million (US$4.75million net to United)
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