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Share Name Share Symbol Market Type Share ISIN Share Description
Uk Oil & Gas Plc LSE:UKOG London Ordinary Share GB00B9MRZS43 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.0025 -1.69% 0.145 0.14 0.15 0.1475 0.1425 0.1475 61,557,162 11:10:42
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.9 -20.9 -0.2 - 27

UK Oil & Gas PLC Horse Hill production facilities upgrade completed

20/09/2021 7:00am

UK Regulatory (RNS & others)


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RNS Number : 2270M

UK Oil & Gas PLC

20 September 2021

UK Oil & Gas PLC

("UKOG" or the "Company")

Horse Hill production facilities upgrade completed

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has completed a planned two-week production facility upgrade at its 85.635% owned Horse Hill oil field. Works included modifications to prepare the site for automated 24-hour continuous production operations, together with the installation of the first tranche of permanent facility equipment required under the Health and Safety Executive's Control of Major Accident Hazards (COMAH) regulations. Following the shutdown period necessary to undertake the works, oil production has now been re-established.

Qualified Person's Statement

Matt Cartwright, UKOG's Commercial Director, who has 38 years of relevant experience in the global oil industry, has approved the information contained in this announcement. Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers.

For further information, please contact:

UK Oil & Gas PLC

Stephen Sanderson / Kiran Morzaria Tel: 01483 900582

   W   H Ireland Ltd  (Nominated Adviser and Broker) 

James Joyce / Andrew de Andrade Tel: 020 7220 1666

Communications

Brian Alexander Tel: 01483 900582

UKOG Licence Interests

The Company has interests in the following UK and international licences:

 
Asset         Licence      UKOG           Licence              Operator        Area (km (2) )         Status 
                          Interest         Holder 
Horndean                                 UKOG (GB)           IGas Energy                             Field in 
 (1)           PL211        10%            Limited                Plc               27.3         stable production 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
Horse                                      Horse                Horse 
 Hill                                 Hill Developments    Hill Developments                         Field in 
 (1) (,)      PEDL137     85.635%            Ltd                  Ltd               99.3         stable production 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
Horse                                      Horse                Horse 
 Hill                                 Hill Developments    Hill Developments                         Field in 
 (1) (,)      PEDL246     85.635%            Ltd                  Ltd               43.6         stable production 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
Avington                                 UKOG (GB)           IGas Energy                        Field temporarily 
 (1)          PEDL070       5%             Limited                Plc               18.3              shut in 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
                                                                                                    Appraisal 
Resan                                                                                             of Basur-Resan 
 Turkey                                                        Aladdin                             oil discovery 
 (2, 3,      M-47-b1,                   UKOG Turkey             Middle                             plus further 
 8)              b2         50%              Ltd                 East               305           expl. prospects 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
                                                                                                  Loxley/Godley 
                                                                                                    Bridge gas 
Loxley                                                                                              discovery, 
 (2, 3,                                  UKOG (234)           UKOG (234)                              BB-1/1z 
 7)           PEDL234      100%            Ltd (4)              Ltd (4)             300            oil discovery 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
                                                                                                     Planning 
                                                                                                    application 
                                                                                                     submitted 
Isle                                                                                                for Arreton 
 of Wight                                                                                          oil appraisal 
 (2, 3)       PEDL331       95%             UKOG                 UKOG               200                well 
----------              ----------  -------------------  -------------------  ---------------  ------------------- 
 

Notes:

1. Oil field currently in stable production.

2. Oil discovery pending development and/or appraisal drilling.

3. Exploration asset with drillable prospects and leads.

4. Contains the Loxley Portland gas accumulation, the Broadford Bridge-1/1z Kimmeridge oil discovery, plus further undrilled Kimmeridge exploration prospects.

5. Portland and Kimmeridge oil field with productive and commercially viable zones, HH-1 in stable oil production, production planning consent granted in September 2019, long-term production consent granted in March 2020.

   6.   UKOG has a direct 77.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246. 
   7.   Gas discovery pending appraisal drilling and development with underlying Kimmeridge potential 

8. High-impact oil appraisal project with an upside OIP range of 150-500 mmbbl gross with expected recovery factors of 10-20% of OIP

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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September 20, 2021 02:00 ET (06:00 GMT)

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