United Oil and Gas Provides Update on Sale of UK Central North Sea Licences

Source: www.gulfoilandgas.com 12/7/2021, Location: Europe

As announced on 7 September 2021, United Oil & Gas has entered in to a binding sale and purchase agreement ('SPA') with Quattro Energy Limited to sell its UK Central North Sea Licences P2480 and P2519.

The long stop date for satisfaction of the SPA conditions was 6 December 2021. The parties to the SPA have agreed an extension of this long stop date to 28 February 2022 to allow additional time for the SPA conditions required for completion. A further update will be provided to the market in due course.


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