United Oil & Gas Plc (GB:UOG) has released an update.
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United Oil & Gas Plc is actively engaging with Egypt’s EGPC to resolve a significant receivable and is implementing cost-cutting measures to preserve cash in anticipation of potential delays. The company has paused discussions on its Jamaican asset farm-out until the new year, focusing on financial resilience to navigate current uncertainties. These strategic moves aim to bolster financial stability as United seeks to progress its exploration and development ventures.
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