StockMarketWire.com - Oil company United Oil & Gas said it had signed an non-binding agreement to sell UK central North Sea licences to Quattro Energy for up to £3.2 million.

The heads of terms on an agreement was for the P2480 and P2519 licences.

The deal was subject to completion of satisfactory due diligence, definitive documentation and regulatory approval.

United Oil & Gas said it was expected to complete by 30 September.


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