United Oil & Gas Plc (GB:UOG) has released an update.
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United Oil & Gas Plc has successfully negotiated a settlement for the remaining debt of $839,200 with its creditor, enabling the company to finalize its exit from Egypt and shift focus to the promising Jamaican operations. The settlement terms are confidential, but the resolution allows the company to concentrate on its core assets, including the Jamaican work program and its associated farmout process. CEO Brian Larkin has expressed satisfaction with the settlement and anticipates further developments on the Jamaican front.
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