United Energy Group Plc. / Miscellaneous/Miscellaneous 30.05.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- London, UK - 30 May 2008 UEG is pleased to announce that the Mason #1 well work over has been completed with the well being placed on production at an initial production rate of 30 barrels of oil per day. The Mason #2 well is undergoing a complete work over at this time with the well expected to be placed on production at the end of the business day today. Initial production rates for the Mason #2 well are expected to be in the range of 30 to 40 barrels of oil per day. Completion of the Mason #2 work over activities represents the culmination of a three well work over program over the course of five days. It is the goal of UEG to maintain this sort of work program efficiency in order to achieve the proposed goal of 1000 barrels of oil per day by the end of Q2-2008. About UEG: UEG is an independent, exchange listed energy production and service company. The core areas of business are Energy Production, Energy Consulting and Energy Investments. The basic principles of UEG are geared to the targeted continuous value enhancement of the company by integrating all relevant groups of interest, supported by an active and transparent communication. For its partners UEG will remain to be a reliable supplier of high-quality services at competitive prices. In selected markets UEG wants to build up a strong position and keep it in the long term. This quality standard is made possible by dedicated employees and partners. The strategy for the next months and years is based on a dynamic growth policy. Forward-Looking Statement: This news release may contain certain forward-looking statements, including declarations regarding United Energy Group and its subsidiaries' expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to UEG management as of the date hereof, and actual results may vary based upon future events, both within and without the control of UEG management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditure requirements, competition, governmental regulations and other factors. United Energy Group plc 45 Doughty Street London WC1N 2LR United Kingdom Registered in England and Wales Registered number 05792859 Web: www.unitedenergy.com E-Mail: info@unitedenergy.com DGAP 30.05.2008 ---------------------------------------------------------------------------
DGAP-News: United Energy Group plc: Mason Lease Update
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