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The latest announcement is out from United Oil & Gas Plc ( (GB:UOG) ).
United Oil & Gas Plc announced a conditional placing to raise approximately £0.7 million through an accelerated bookbuild process, aimed at providing working capital and advancing its Jamaican farmout project. The company is also undergoing a board change as Chairman Graham Martin steps down, with the search for a successor underway. The fundraising acknowledges shareholder dilution but is deemed necessary to strengthen the company’s financial position amidst challenging market conditions, enabling it to focus on strategic objectives and exploration-led growth.
More about United Oil & Gas Plc
United Oil & Gas Plc is an oil and gas company with high-impact exploration assets in Jamaica and development assets in the UK. It operates in the oil and gas sector, focusing on exploration and development to drive growth and value creation.
YTD Price Performance: -82.17%
Average Trading Volume: 35,533,484
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £1.24M
Find detailed analytics on UOG stock on TipRanks’ Stock Analysis page.
