KEYFACT Energy
United Oil & Gas today announced that a confidential settlement agreement has been signed between Anasuria Hibiscus UK Ltd. and United for the Crown disposal milestone payment.
AHUK has agreed to pay United a total of US$2,500,000 (payable in three instalments between the date of the Settlement Agreement and 29 December 2022) in full and final settlement of the matter. Subject to the receipt by United of the full sum of US$2,500,000 from AHUK, this will bring an end to the matter and no further amounts will be due to United from AHUK in connection with the sale of Licence P2366.
KeyFacts Energy: United Oil & Gas UK country profile