IN BRIEF: United Oil & Gas revenue and profit rise in the first half

United Oil & Gas PLC - producer and explorer in the Mediterranean, Caribbean and Latin America - ...

Alliance News 28 September, 2021 | 11:42AM
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United Oil & Gas PLC - producer and explorer in the Mediterranean, Caribbean and Latin America - Revenue in the first half of 2021 surges to USD10.2 million from USD2.4 million a year prior. Pretax profit increases 14% to USD2.0 million from USD1.8 million. Production increases 38% to 2,730 barrels of oil equivalent per day from 1,975 boepd. Plans to drill four wells in 2022. Full-year capital expenditure forecast raised to between USD7.5 million and USD8.0 million, from USD7.2 million. Capex will be fully funded from existing operations.

Current stock price: 2.60p per share

Year-to-date change: down 13%

By Ivan Edwards; ivanedwards@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
United Oil & Gas PLC 2.83 GBX 1.80 -

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