United Oil & Gas Plc (LSE:UOG) has raised £800,000 through a successful placement of new ordinary shares. The capital will be used to advance the farm-out process for the company’s Walton-Morant exploration licence offshore Jamaica, as well as for general corporate purposes. The fundraising round was heavily oversubscribed, reflecting strong investor belief in the company’s assets and strategic direction. The Walton-Morant licence, which holds significant untapped potential in a favorable regulatory environment, remains a top priority for United as it looks to attract a development partner.
About United Oil & Gas Plc
United Oil & Gas is a London AIM-listed energy company with producing and development assets in the UK and a high-potential exploration project in Jamaica. Backed by a proven leadership team with expertise across the energy lifecycle, the company is focused on unlocking value across its diverse portfolio.
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