AIM_listed United Oil & Gas, the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK, has announced the publication of its audited results for the year ended 31 December 2025, extracts from which are set out below. The final audited results are being posted to shareholders and will shortly be available on the Company's website at https://www.uogplc.com
Highlights Full Year 2025
- Walton-Morant Licence extended by two years to 31 January 2028, providing tenure certainty
- Environmental Permit granted by the National Environment and Planning Agency ('NEPA') in July 2025 and Beach Licence secured in September 2025, clearing the regulatory pathway for the SGE programme
- TDI Brooks International contracted in November 2025 to deliver the SGE programme, including piston core survey, following execution of a formal contract
- Three fundraisings completed during 2025, maintaining access to capital throughout the year; October 2025 placing raised approximately £2.23m to support the Company's work programme and working capital
- David Williams appointed Non-Executive Director in October 2025, assuming Chair of the Audit and Remuneration Committees
- Waddock Cross, UK: continued discussions with operator Egdon Resources on recommencing production; independent reservoir modelling estimates 57 million barrels STOIIP, with potential for a new horizontal well targeting 500-800 bopd gross
Financial Summary
- Loss after tax: ($1.25m) (2024: $2.44m loss)
- Group cash balances at 31 December 2025: $1.7m (2024: $0.8m)
Post Period End
- SGE survey completed safely and on schedule by end of February 2026, with no environmental or work-related incidents
- Subsequent analysis identified C4 and C5 hydrocarbons (butanes and pentanes) in select piston cores within the headspace interstitial gas dataset. United noted that these higher order hydrocarbons are not typically associated with biogenic gas systems and are therefore consistent with a potential thermogenic contribution
- Results are being integrated into the Company's subsurface evaluation to support the ongoing farm-out process
- The Company has a number of interested parties under NDA and engaged in the farm-out process
- The majority of warrants outstanding under the Company's blocklisting scheme were exercised by 24 April 2026, raising gross proceeds of approximately £485,667 strengthening the Company's working capital position
Brian Larkin, CEO, commented:
'2025 was a landmark year for United. We set out to build the foundations necessary to advance the Walton-Morant Licence and delivered on every objective: the licence extended to January 2028, regulatory approvals secured, the SGE programme fully contracted and funded, and the survey vessel mobilised in January 2026. Every stage of the programme was executed safely and without incident. In a year that required discipline, focus and operational rigour, United demonstrated it can deliver and to a standard that matters in this industry.
The SGE survey was completed safely and subsequent analysis identified C4 and C5 hydrocarbons (butanes and pentanes) in select piston cores within the headspace interstitial gas dataset. United noted that these higher order hydrocarbons are not typically associated with biogenic gas systems and are therefore consistent with a potential thermogenic contribution.
The broader environment could not be more compelling for what United offers. Frontier exploration returned to the top of the agenda for the world's major oil companies during 2025 and into 2026, with high-impact opportunities in stable, well-governed jurisdictions attracting renewed and serious capital across multiple basins globally. The strategic value of Atlantic-facing acreage with direct access to major markets has been fundamentally repriced, and Jamaica sits squarely in that category. As a result, our farm-out strategy has gained momentum and we are encouraged by the calibre of the counterparties under NDA, reflecting both the quality of the asset and the work we have done to advance it. We are focused on converting that into the right outcome for our shareholders.'
Source: United Oil & Gas
