United Oil & Gas Management Presentation
UNITED OIL & GAS Introduction | Management Presentation
SUMMARY
Egypt | Clear action to address issues
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The decision to divest away from Egypt was taken due to the worsening economic
climate
STRATEGIC INVESTORS
TO SUPPORT
GROWTH
STRATEGY
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•
Limited value in our share price for Egypt
United received a default notice from Kuwait Energy Egypt, the partner on United's Abu
Sennan concession in January 2024.
The decision frees up management resources to focus on opportunities to grow
business outside Egypt.
Jamaica | Licence extension and 2024 work programme
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United's Walton Morant licence has the potential to be transformational for the Company
United remains in discussions with a number of interested parties around a farm-out.
The company is focused on progressing the project, through the hiring of a new country
manager - Herona Thompson based in Jamaica.
The proceeds from the recent fundraise will be used to advance the 2024 work
programme.
HIGH UPSIDE
Jamaica is a world class frontier
exploration asset
LOW DEBT
Company forecast to be
debt free during 2024
UK | Waddock Cross update
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The Operator has confirmed that plans are progressing to restart production at Waddock
Cross
LEAN + EFFICIENT
Low G&A costs
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