StockMarketWire.com - Oil company United Oil & Gas said production from its Abu Sennan asset in Egypt was exceeding its initial expectations.

Production in the first half of June averaged 13,900 barrels of oil equivalent per day, of which 3,060 barrels applied to United Oil & Gas, given its 22% stake in the asset.

The production rate represented a 69% increase compared to average April production.

United Oil & Gas said an independent reserves report by Gaffney Cline & Associates from the end of 2019 indicatds a 12.5% increase in proven and probably reserves at Abu Sennan.


At 2:27pm: [LON:UOG] United Oil Gas Plc share price was +0.15p at 2.88p



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