We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Uk Oil & Gas Plc | LSE:UKOG | London | Ordinary Share | GB00BS3D4G58 | ORD GBP0.000001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0375 | 0.035 | 0.04 | 0.0375 | 0.0375 | 0.0375 | 8,026,612 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 1.78M | -4.87M | -0.0015 | -0.27 | 1.3M |
TIDMUKOG
RNS Number : 0353I
UK Oil & Gas Investments PLC
16 March 2018
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
Loan Conversion
UK Oil & Gas Investments PLC (London AIM: UKOG), announces that, in relation to the GBP10 million financing announced on 15 November 2017 ("Loan"), it has received a notice of exercise from Cuart Investments PCC Ltd and YA II PN Ltd ("Investors") to convert part of the Loan, with an aggregate par value of GBP250,000, into equity ("Conversion Notice").
The Company has, therefore, today allotted 17,603,154 new ordinary shares to the Investors ("Investor Shares"). The Investor Shares will rank pari passu in all respects with the existing ordinary shares.
The application has been made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 22 March 2018. After today's conversion, the Par Value outstanding on the Loan is GBP5.75 million.
Following Admission, the Company's enlarged issued share capital will comprise 3,721,256,492 ordinary shares. The Company does not hold any shares in treasury. This figure of 3,721,256,492 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Loan Terms
The terms of the Loan, as stated by the Company on 15 November 2017, includes a provision that for as long as any portion of the Loan is outstanding, neither the Investors nor any of their affiliates;
i. shall hold any net short position with respect to the equity of UKOG and
ii. can trade more than 15 % of the number of UKOG shares that have traded in a trading day.
The Loan is convertible in tranches of not less than GBP250,000, with a limit of GBP3 million per quarter, starting from the 15 November 2017, unless otherwise agreed by the Company.
For further information, please contact:
UK Oil & Gas Investments PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 243450
WH Ireland (Nominated Adviser and Broker)
James Joyce /James Sinclair-Ford Tel: 020 7220 1666
Cenkos Securities PLC (Joint Broker)
Joe Nally Tel: 0207 397 8919
Public Relations
Brian Alexander / David Bick Tel: 01483 243450
UKOG Licence Interests
The Company has interests in the following nine UK oil and gas licences:
Asset Licence UKOG's Licence Holder Operator Area (km(2) ) Status Interest ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- UKOG (GB) IGas Energy Field in stable Avington (1) PEDL070 5% Limited Plc 18.3 production ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Baxters Copse PEDL233 50% UKOG Weald IGas Energy 89.6 Appraisal/development (2) Limited Plc well planned; licence extended to 2018 ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Broadford Bridge PEDL234 100% Kimmeridge Oil Kimmeridge Oil 300.0 BB-1 & 1z drilling (3) & Gas Limited & Gas Limited completed, testing of (4) (4) multiple zones underway ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Holmwood (3) PEDL143 40% UKOG Europa Oil & 91.8 Holmwood-1 Gas (Holdings) exploration well plc planned in 2018 ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- UKOG (GB) IGas Energy Field in stable Horndean (1) PL211 10% Limited Plc 27.3 production ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Horse Hill (5) PEDL137 32.435% Horse Hill Horse Hill 99.3 Planning Permission & Developments Developments EA permit granted for Ltd Ltd production tests and two wells ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Horse Hill Horse Hill Developments Developments Horse Hill (5) PEDL246 32.435% Ltd Ltd 43.6 As above ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Isle of Wight (Onshore) (2, Preparing Arreton-3 3) PEDL331 65% UKOG UKOG 200.0 planning submission ---------------- --------- --------------- --------------- --------------- -------------- ---------------------- Markwells Wood PEDL126 100% UKOG (GB) UKOG (GB) 11.2 Submitted planning (2) Limited Limited application for appraisal and field development ---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Notes:
1. Oil field currently in production.
2. Oil discovery pending development and/or appraisal drilling.
3. Exploration asset with drillable prospects and leads. PEDL234 contains the Broadford Bridge-1 and 1z
discovery well and the extension of the Godley Bridge Portland gas discovery.
4. UKOG has a 100% interest in Kimmeridge Oil & Gas Limited, which has a 100% interest in PEDL234.
5. Oil discovery with recently completed flow testing.
6. UKOG has a direct 49.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCZQLFFVXFEBBQ
(END) Dow Jones Newswires
March 16, 2018 10:58 ET (14:58 GMT)
1 Year Uk Oil & Gas Chart |
1 Month Uk Oil & Gas Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions