DGAP-News: United Energy Group plc: Production Increase on United Energy Group's U.S. Leases

United Energy Group Plc. / Miscellaneous/Miscellaneous

07.07.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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London, UK - 07 July 2008

United Energy Group plc ('UEG') has acquired a 1006 acre lease in the
Pearsall Austin Chalk Field in Dimmit County, Texas. The Pearsall Austin
Chalk region has significant recoverable reserves; additional reserves
exist on the leased acreage with proven oil and gas reserves in the deeper
Eagleford Shale and Buda Formations.

The first well of a multiwell program targeting the Austin Chalk has been
tested at an initial flow rate of 650 barrels of oil per day on a 10/64
choke. The well will be subjected to acid stimulation this week that is
expected to significantly improve well productivity.

The well will be placed on production immediately following the acid
stimulation.

In the coming months UEG will be expanding it's current lease hold and
production position in the Pearsall Field.

A new build drilling rig has been secured under contract that is capable of
drilling the 7000 foot vertical and 5000 foot horizontal lateral well
segments needed to produce hydrocarbons from the targeted formations.


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 07.07.2008 
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