United Oil & Gas Plc (LSE:UOG) has launched a conditional fundraising round to raise approximately £2.33 million through the issuance of new ordinary shares, pending shareholder approval. The capital will be used to fund the company’s piston coring program at the Walton Morant Licence offshore Jamaica—a key initiative designed to enhance the Geological Chance of Success across priority exploration targets.
The program aims to strengthen United’s technical understanding of the area and improve its commercial positioning as it seeks future partnerships to advance development. The fundraising underscores the company’s commitment to progressing its high-impact exploration portfolio while maintaining financial discipline.
About United Oil & Gas Plc
United Oil & Gas Plc is an independent energy company engaged in oil and gas exploration and development, with a high-impact exploration license in Jamaica and a development asset in the UK. The company focuses on maturing its portfolio through technically driven exploration and strategic partnerships, with the goal of creating long-term shareholder value and expanding its presence in key hydrocarbon regions.
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