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United Oil & Gas PLC - London-based oil and gas company with projects in Egypt, Italy and the UK - Extends longstop date for the sale of UK Central North Sea licence P2519, which contains the Maria discovery in block 15/18e, to Quattro Energy Ltd. New longstop date is May 17, extended from April 16, to allow additional time for the asset purchase agreement conditions required for completion to be satisfied. Says a further update will be provided to the market in due course.
United Oil & Gas announced the APA with Quattro in late January to sell licence P2519 for a maximum consideration of up to £5.7 million.
Current stock price: 1.63 pence, down 9.4% on Monday
12-month change: down 37%
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