United Oil and Gas shares jump on commercial find in Egypt 

Discovery has estimated reserves of 430 barrels of oil equivalent per day

United Oil and Gas CEO Brian Larkin said the company’s long-term geographical focus will be on northern Africa and the Caribbean. 

Shares in Irish exploration company United Oil and Gas jumped more than 6% on the back of it declaring a recent discovery at its Egypt operations a commercial find.

Currently undertaking a drilling campaign in Egypt, United said the latest discovery, first flagged last month, has estimated reserves of 430 barrels of oil equivalent per day.