DGAP-News: United Energy Group plc: Mason Lease Work Over Progress Report

United Energy Group Plc. / Miscellaneous/Miscellaneous

29.05.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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London, UK - 29 May 2008

United Energy Group is pleased to announce that production has been
commenced at its 100% owned and operated Mason lease. The first of three
Mason wells to be subjected to the work over program, Mason #14, commenced
production on May 27th, 2008 at an initial production rate of 40 BOPD by
rod pump. The well will be subjected to extended diagnostic testing over
the next fourteen days in order to determine the overall productivity of
the well. In the event that the well is determined to be capable of
additional production, an electrical submersible pump will be installed
with the intention to raise production to 100 BOPD.
Work over activities are progressing on the Mason #1 well with the well
expected to be placed on production within 24 hours. Initial production
rates for the Mason #1 well are expected to match the initial production
rates tested at the Mason #14 well. The Mason #1 well will be subjected to
the same testing program as that being applied to the Mason #14 well in
order to determine the overall productivity of the well.


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 29.05.2008 
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