United Oil and Gas records first-ever profit in ‘landmark year’ for company

first_imgStrong profit and production key to successful year for United Oil and GasThe company’s “transformational” acquisition of Rockhopper Egypt in February last year played a key role in helping deliver its strong production results for 2020. As part of the deal, UK-headquartered Rockhopper Exploration acquired an 18.3% interest in United.Success at the ASH-2 and ES-5 Development Wells increased United’s working interest production from 1,709 barrels of oil per day (bpd) in March to 2,389 bpd at the end of December.An independent reserve report from the end of 2020 indicated that a 24% increase in the inventory of the Abu Sennan field to 16.8 million barrels of oil in reserves.The completion of the ASH and Al Jahraa gas pipelines also increased environmental efficiency of the Abu Sennan licence to add an additional 312 bpd to United’s growing output.The firm was awarded operatorship and 100% ownership of the high impact Walton Morant exploration licence in Jamaica last year as well as further blocks containing discoveries in the UK’s latest North Sea offshore licensing round.Alongside its profit for the year, United posted $9.1m in revenue and generated $4.8m of cash from its operations to end 2020 with $2.2m in cash following capital expenditure of $2.5m.The company has raised its production guidance for 2021 to between 2,500 and 2,700 bpd. United Oil and Gas has exploratory and production assets in the UK, Italy, Egypt and Jamaica (Credit: LinkedIn/United Oil and Gas) United Oil and Gas recorded its first-ever profit in what was a “landmark year” for the company.The Dublin-based firm, which has exploratory and production assets in the UK, Italy, Egypt and Jamaica, posted an $853,000 profit for the year ending 31 December 2020.Despite challenges posed by the coronavirus pandemic, the AIM-listed company was aided by its production levels increasing by almost a quarter over the course of the year.United’s CEO Brian Larkin said: “2020 was a landmark year for United Oil and Gas, building on strong foundations to position ourselves as a full-cycle oil and gas company with strong production, diverse assets, an exceptional board and clearly defined avenues to deliver further material growth.“These were significant achievements despite one of the toughest years for our sector and wider markets caused by the COVID-19 pandemic. Building on this success is key for all at United Oil and Gas and we look forward to driving further activity and material growth in 2021 and beyond.” Despite challenges posed by the coronavirus pandemic, the Dublin-based firm’s production levels increased by almost a quarter over the course of 2020last_img read more

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Commonwealth Games silver medalist Keevin Allicock for Barbados engagement

first_imgYOUTH Commonwealth Games’ boxing silver medalist, Keevin Allicock, will travel to Barbados on Friday to participate in that Island’s Independence International boxing competition and will be accompanied by his long-time coach, Sebert Blake.According to reports, Allicock, the Caribbean Development Championship and Guyana’s National flyweight champion, will fight top Barbadian flyweight, Jamall Breedy over the next weekend.Guyana Boxing Association’s president, Steve Ninvalle, is reported as saying the GBA is attempting to expose Allicock and lightweight, Christopher Moore, to as many international competitions as possible, since these two youths are likely to be the future faces of Guyana’s boxing.Both Allicock and Moore represented Guyana at the Youth Commonwealth Games in The Bahamas earlier this year; Moore reached the quarter-final while Allicock reached the final.Meanwhile, the GBA will be staging its annual Lennox Blackmoore National Intermediate championships at the National Gymnasium from Friday.To date, 10 gyms from across Guyana has stated their interest in participating in the tournament.The defending champion gym is the Guyana Defence Force.last_img read more

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RPS vs KKR: Gautam Gambhir leads Kolkata Knight Riders for 100th time in Indian Premier League

first_imgGautam Gambhir added a personal milestone to his name on Wednesday when he took the field for Kolkata Knight Riders against the Rising Pune Supergiant at the Maharashtra Cricket Association Stadium in Pune.Gambhir featured in his 100th match for KKR as captain in the Indian Premier League.The 35-year-old Gambhir, who was bought by KKR for a whopping Rs 11.04 crore back in 2011, has been the captain ever since and has led the franchise to two IPL titles in 2012 and 2014.The Delhi man has been an ever present figure for the franchise ever since being a part of it. Kolkata shuffled their whole squad six years back and he was brought in as the captain, replacing Kolkata’s beloved son Sourav Ganguly.KKR, who had three under-par seasons, showed great progress under the aggressive captaincy of Gambhir and finished fourth that season. The following season in 2012, he delivered the title and since then Kolkata has been one of the most consistent teams in the league.The left-hander has not only played some important knocks at the top of the order but has also installed a sense of determination and hunger for victory in the team and that was up for display few days back when Kolkata defended a mere total of 131, bowling out Virat Kohli’s Royal Challengers Bangalore for a paltry 49 – which is incidentally the lowest ever total in the history of the IPL. The 35-year-old has played 139 matches in the IPL, scoring 3,877 runs at an average of 31.52 with a best of 93. He has been in decent form this season as well with 243 runs from seven games, including two fifties. Gambhir also has the most number of fifties as captain with 25 fifties while Kohli is second with 21.advertisementKKR are currently second in the table with 10 points from seven games and have the chance to go on top if they beat Pune, thanks to their net-run-rate.Also Watch:last_img read more

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Serena powers past No 1bound Naomi Osaka Halep retires hurt

first_imgToronto: Serena Williams won the rematch Friday, dominating Naomi Osaka 6-3, 6-4 to ensure the Japanese star won’t leave Toronto with a title to go with her number one world ranking. Williams fired 12 aces and didn’t face a break point as she beat Osaka for the first time in three meetings — avenging her shock loss in last year’s controversial US Open final in which the American star was docked a point and a game after losing her temper when warned about coaching. Also Read – Puducherry on top after 8-wkt win over ChandigarhThere was no such drama in Toronto, where Williams broke Osaka for a 5-3 lead in the first and closed out the opening set with a service winner. She broke again for a 2-1 lead in the second and never looked like surrendering the advantage. Even a run-in with the net cord — as she raced forward trying to run down a drop shot — didn’t faze her. “It hurt, but it wasn’t the end of the world,” Williams said. The American’s lone wobble came in the final game. After a pair of aces gave her a triple match point, Williams offered up a double fault and two backhands into the net before she closed it out with an ace on her fourth match point. Also Read – Vijender’s next fight on Nov 22, opponent to be announced later”We haven’t played since New York, which was a really good match for her,” said Williams, adding that she feels her own game is coming on as she’d hoped in the buildup to this year’s US Open at Flushing Meadows. “I’m getting there,” said Williams, who hasn’t dropped a set this week as she pursues a fourth Toronto title to go with those she won in 2001, 2011 and 2013. “It’s definitely not where I want to be, but I’m getting there.” Osaka said she played too defensively — something she said was hard to avoid when Williams was hitting 31 winners. “But I think there were chances where she hit shorter balls, but I wasn’t expecting her to hit the shorter balls, so I didn’t move up on time,” she said. In the semi-finals Williams will face Czech qualifier Marie Bouzkova, who advanced when Wimbledon champion Simona Halep retired with Achilles tendon trouble after dropping their first set 6-4. “I’ve always wanted to play Serena,” said Bouzkova, a 21-year-old ranked 91st in the world. “It’s always my dream to play against her.”last_img read more

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