United Oil & Gas Management Presentation

UNITED OIL & GAS Abu Sennan | Management Presentation EGYPT - RE-FOCUSING THE BUSINESS • The decision to divest away from Egypt was taken due to the worsening economic climate o Significant cash was being lost due to foreign exchange charges when converting from EGP to USD Collecting USD payments from Egypt has been challenging over the last year o United remains in regular discussions with the Egyptian government to ensure all outstanding payments are received and used to settle the outstanding debt This decision free's up management's time to focus on other opportunities in other locations and start to restore shareholder value Further cost savings in head office G&A and management time 4

View entire presentation