JV in Italy gas find

Italy

LONDON, December 6, 2017 – United Oil and Gas, Po Valley Energy and Prospex Oil and Gas have encountered 53 metres of gross gas deposits onshore Italy, the companies announced on Wednesday.

Po Valley is the operator of the Podere Maiar 1 well on Selva gasfield with a 63% interest in the licence, while United holds a 20% stake and and Prospex owns the remaining 17%.

“We are very pleased with these initial well results, which confirm the significant potential in the Selva field,” United CEO Brian Larkin said in a statement. “We are looking forward to successfully completing the well operations, and commencing the rigless testing shortly.”