AIM-listed United Oil & Gas has made public its decision to terminate the Asset Purchase Agreement ('APA') previously made with Quattro Energy. This decision signifies an end to the agreement under which the two parties had intended to carry out various transactions. The details surrounding the reasons for termination or the potential implications for both companies have yet to be disclosed.
1. United Oil & Gas has decided to terminate the Asset Purchase Agreement (APA) with Quattro Energy.
2. The agreement was created with the intention of the two companies carrying out various transactions.
3. Specific details about the reasons of termination and its potential consequences have not been disclosed.
4. The APA termination followed an earlier termination of the same agreement between the two companies.
5. The specific circumstances leading to the cancellation and the specifics of termination remain undisclosed, with limited comment from both parties.
As of 2021, United Oil & Gas holds a portfolio of assets spanning across nine different licenses in Africa, Latin America and Europe.
This development follows the termination of the Asset Purchase Agreement ('APA') between the AIM-listed United Oil & Gas and Quattro Energy. The two parties had earlier joined forces under the proposed agreement to facilitate the exchange of valuable assets. Unfortunately, this partnership was not meant to be a durable one. It is concluded through undisclosed circumstances which led to the cancellation of the prior arrangement. The specifics behind this termination remain unclear, and both parties withheld extensive comment on the matter.