Gunsynd (AIM: GUN, ISDX: GUN) announces that it holds 6,058,599 shares in United Oil & Gas plc ("UOG"), representing approximately 3.01% of UOG's issued share capital. The aggregate cost of this investment was approximately £160,000 and the Company paid an average of approximately 2.7p per UOG share.
UOG is an independent oil & gas start-up established in 2015 by a former Tullow Oil team. Its strategy is to acquire assets where the management team's experience can drive near-term activity and unlock previously untapped value. Two deals have been completed since
August 2016, providing UOG with a material stake in two licences: PL090 onshore UK, and Podere Gallina onshore Italy. UOG is listed on the main market of the by way of a standard listing.
The directors of
For further information please contact:
Nominated Adviser/NEX Corporate Adviser: +44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Liam Murray
This information is provided by RNS