Discover why small cap oil play United Oil & Gas is down 15%
Oil firm United Oil & Gas (UOG:AIM) fell 18.8% to 2.7p as it downgraded its annual output forecast after a higher proportion of water started being produced at key wells in Egypt.Full-year output from the Abu Sennan licence in Egypt was now expected at 2,100 to 2,300 barrels of oil equivalent per day (boepd), down from previous guidance of 2,500 to 2,700 boepd.The ASH field at the Abu Sennan...
