UK Oil & Gas PLC PEDL234 Loxley gas discovery update

TIDMUKOG

UK Oil & Gas PLC

06 February 2023

Reach

UK Oil & Gas PLC

("UKOG" or the "Company")

PEDL234 Loxley gas discovery update

UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that SGN (southern England's gas distribution pipeline network operator) has confirmed that their Local Transmission System ("LTS") can accept all the potential future gas production from UKOG's 100%-owned Loxley gas discovery. SGN's capacity thus provides a clear route to the wider gas market and the monetisation of Loxley's gas.

SGN's network analysis demonstrates that the LTS can readily accept 34,500 cubic metres per hour (equivalent to 30 million cubic feet of gas per day), corresponding to Loxley's high-side forecast field production rate. A pipeline routeing study to the identified grid entry point can now commence.

For further information, please contact:

 
  UK Oil & Gas PLC 
  Stephen Sanderson / Allen D Howard                 Tel: 01483 
                                                      941493 
   WH Ireland Ltd (Nominated Adviser and Broker) 
   James Joyce / Andrew de Andrade                   Tel: 020 
                                                      7220 1666 
   Communications 
  Brian Alexander                                    Tel: 01483 
                                                      941493 
 
 

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February 06, 2023 02:00 ET (07:00 GMT)