Kerman & Co advises United Oil & Gas Plc on additional fundraising

May 21, 2018

“We have a very close working relationship with Kermans and their advice and commitment during this transaction was invaluable.”

Kerman & Co’s Capital Markets team recently advised United Oil & Gas Plc (LSE: UOG), quoted on the Standard List of the London Stock Exchange, in connection with its recent £2.5 million Placing and Subscription. Having issued shares up to 20% of its issued share capital within the last 12 months, the maximum permitted under the Listing Rules, UOG was required to publish a prospectus to complete the fundraising. Over the course of the last 12 months, Kerman & Co has advised UOG in connection with the publication of two prospectuses and the completion of three placings.

Since completing its reverse takeover in July 2017, UOG has continued to acquire non-core oil and gas licences from larger oil and gas companies, with the goal of being an active partner to unlock previously untapped value. The group’s current assets comprise the Podere Gallina licence in Po Valley, Italy; the PL090 licence relating to the Waddock Cross and Broadmayne projects in Dorset; the PL1918 licence relating to the Colter East and West projects in Dorset; the P2264 licence based in the southern North Sea which contains the Acle prospect; and the Walton-Morant Licence in Jamaica, a farm-in completed with Tullow Oil.

Simon Holden and Jack Kemmish, members of the Capital Markets team, advised UOG.

Brian Larkin, CEO of UOG, commented: “We have a very close working relationship with Kermans and their advice and commitment during this transaction was invaluable. Simon and Jack are an extension of our in-house team and they have contributed greatly to the growth of United, since its inception. We are very pleased to call them friends, and we look forward to continuing to work together as we build our business.”

Simon Holden, Partner at Kerman & Co, commented: “One of the upsides to working on intensive corporate transactions is getting to know the people you are working so closely with, and hoping that client relationships turn into friendships. It is enormously rewarding for us that we can say this about the UOG team, who we thoroughly enjoy working with, having advised them from the company’s inception through to its debut on the capital markets. As well as advising the Group in connection with its ongoing acquisitions of exciting exploration prospects, we provide regular legal and commercial counsel on a broad spectrum of matters. We look forward to continuing to foster such a great friendship as UOG continues with its ambitious growth plans.”

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