United Oil & Gas Commences 2022 Egypt Drilling Program

United Oil & Gas PLC ("UOG"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to announce the spudding of the ASD-2 development well in the Abu Sennan licence, onshore Egypt. United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt (KEE).

Highlights

- 2022 Abu Sennan drilling campaign has commenced with the spud of the ASD-2 development well

- ASD-2 is the first well in a fully funded four well drilling campaign

- The well is a follow-up to the commercial discovery that was made by the ASD-1X exploration well in 2021

- It will target potential gross upside volumes of 5.5 mmbbls STOIIP (operator's estimate) in the Abu Roash C reservoir

Following mobilisation of the ECDC-6 rig to site, the Company is pleased to note that KEE have notified the Joint Venture partners that the 2022 drilling programme has now commenced with the ASD-2 development well.

This well is a follow-up to the successful ASD-1X exploration well drilled in 2021 which was a commercial discovery and tested the Lower Bahariya and ARC reservoirs. ASD-2 is targeting the north-western culmination of the ASD structure and will seek to prove up the gross upside volumes in the Abu Roash C reservoir, estimated by the Operator at 5.5 mmbbls, STOIIP, accelerate production from the field, and test a secondary target in the Abu Roash E reservoir. The well can be quickly tied into existing facilities, adding additional production and revenue for the Company

The ASD-2 well is the first well in the fully funded four well Abu Sennan 2022 drilling programme.

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