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UKOG Uk Oil & Gas Plc

0.0365
0.002 (5.80%)
03 Oct 2024 - Closed
Delayed by 15 minutes
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 Shares Traded Last Trade
  0.002 5.80% 0.0365 471,062,542 12:50:33
Bid Price Offer Price High Price Low Price Open Price
0.036 0.037 0.037 0.0335 0.0345
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 1.54M -3.78M -0.0005 -0.80 2.82M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:19:38 O 55,982,604 0.035 GBX

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Date Time Title Posts
03/10/202414:25UKOG strikes oil 2016165,191
03/10/202412:442 Trucks to-day, 20 Trucks by month-end2,566
03/8/202418:19Grotto 4 - The Birth of the Franchise908
30/7/202401:39UKOG have we reached the bottom? 10p to 0.033p seems way oversold now..BUY!20
18/2/202412:09Lenigas is psychopath 2

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Posted at 03/10/2024 09:20 by Uk Oil & Gas Daily Update
Uk Oil & Gas Plc is listed in the Finance Services sector of the London Stock Exchange with ticker UKOG. The last closing price for Uk Oil & Gas was 0.03p.
Uk Oil & Gas currently has 8,167,456,073 shares in issue. The market capitalisation of Uk Oil & Gas is £3,266,982.
Uk Oil & Gas has a price to earnings ratio (PE ratio) of -0.80.
This morning UKOG shares opened at 0.03p
Posted at 03/10/2024 09:47 by jammydodger2
Supreme Court oil site operates without permission
By Ruth Hayhurst on October 2, 2024
The onshore well site at the centre of a recent landmark legal judgement has continued to produce oil, according to official data, even though it has no planning permission.


Source data: North Sea Transition Authority
The Supreme Court quashed the planning consent for the Horse Hill site on 20 June 2024, following a lengthy challenge by campaigner Sarah Finch against Surrey County Council.

Despite this, figures published by the industry regulator today show that Horse Hill produced 163m3 (138 tonnes) of oil during July 2024, at a rate of 33 barrels/day.

These latest Horse Hill production figures, submitted by the site’s parent company, UK Oil & Gas plc (UKOG), are slightly higher than the previous two months before the court judgement.


Supreme Court oil site operates without planning permission
Sarah Finch, who represented the Weald Action Group, said today:

“It’s not clear why UKOG are still producing oil at Horse Hill despite having no planning permission to do so.

“I trust that Surrey County Council’s enforcement officers will take this up and work with UKOG to get the site restored to a condition suitable for agricultural use, as required by the previous planning permissions, as quickly as possible.”

We asked UKOG why production was continuing without planning permission.

A company spokesperson said:

“We are in constant communication with Surrey County Council and are working with them about submitting a retrospective planning permission.

“There is precedent for this, as per your article.”

The spokesperson referred to a DrillOrDrop article written more than seven years ago about equipment and offices, rather than site operation, at the Brockham oil field, also in Surrey.

The now quashed planning permission for Horse Hill, granted in 2019, had allowed the operator to run the site, drill four more wells, and produce oil for 25 years and restore it.

UKOG must reapply for permission if it wants to continue at Horse Hill, planners confirmed last week.

“Council acted unlawfully”
The Horse Hill legal challenge centred on whether Surrey County Council should have taken into account the climate emissions from combustion of the oil when it granted planning permission.

The council had argued that it needed to consider only the emissions from operating the site.

But the Supreme Court ruled that the council had acted unlawfully by not considering greenhouse gases from oil combustion, known as indirect or downstream emissions.

The court said there were established methodologies for calculating greenhouse gas emissions. It said there was no technical reason why the indirect emissions could not have been taken into account when deciding planning permission.

“Complicated picture”
A meeting of Surrey County Council’s planning committee last week discussed the implications of the Supreme Court judgement.

Sian Saadeh, the planning development manager, said the council was “very conscious” that Horse Hill was operating without planning permission.

“There isn’t anything I can say to the committee by way of an update per se.

“Clearly the [planning permission] decision has been quashed. The application … we need to determine it at some point.

“There is no permission. It is a complicated picture. Yes, I am very conscious of the fact that things have happened with the site so that is something that the planning team that I manage are mindful of. I am sure at some point we will have a more concrete update on … where the next steps go.”

Previous planning permissions, granted for Horse Hill in 2012 and 2017, have expired.

Caroline Smith, the council’s planning group manager, told the meeting the 2019 planning application would need to be “redetermined in due course”.

She said according to legal advice, the Horse Hill operator would need to update its environmental impact assessment (EIA) to include new information and details of indirect greenhouse gas emissions. She said:

“Once this information has been submitted to the satisfaction of the minerals planning authority, there will need to be further consultation and neighbour notification.”

Ms Smith said the operator had implemented the 2019 planning permission and discharged some of the conditions.

“This was at their own risk whilst the legal process was ongoing. Had they not implemented, however, their planning permission may have lapsed. The planning application will need to be amended to take the works undertaken in account and to make it part retrospective.”;

“Difficult position for planning authorities”
Ms Smith said the council had asked the government for more guidance on the implications of the Supreme Court judgement. She said:

“It puts planning authorities in a difficult position, frankly”.

Ms Smith said the “broader effect” of the judgement meant that planning authorities would need to take a “precautionary approach to indirect effects” for future EIA developments. She said:

“Where there is an inevitability of consequence and the ability to make a meaningful assessment [of indirect emissions] it must be included in the EIA. And any separation from the project, which in our case the oil had to be refined, does not negate this requirement.”

She said it was unclear how the ruling would affect other types of development. But she added:

“It is conceivable that it will have implications for other types of mineral development and potentially highway schemes which require environmental impact assessments.”

These could include proposals for concrete and aggregates developments, Ms Smith said.

Costs
Surrey County Council must pay the legal costs of Sarah Finch and the Weald Action Group.

The level of costs is not yet known, Ms Smith told councillors. But it could be up to a maximum of £70,000. She said:

“No order has yet been made in relation to costs which have been the subject of separate submissions. As the losing party, the county council will be required to pay some or all of the appellant’s costs.”

The committee’s chair, Edward Hawkins (Conservative), told the meeting:

“I feel quite annoyed that the county has to pay costs for something that we felt we did in good faith in accordance with the law.”

A member of the committee, Ernest Mallett (Residents’ Association and Independents), had supported UKOG’s planning application in 2019. He accused the Supreme Court of “making law on the hoof”. He said:

“The council behaved in a perfectly satisfactory and straightforward way according to the law.”

Another member of the committee, Jeffrey Gray (Lib Dem), said the council’s “culpability should be mitigated by the absence of case law and therefore it was quite difficult for us”.

He said the issues raised by the case had “deserved serious consideration” and he did not resent that the Supreme Court had reached its decision.

Key Horse Hill planning permissions
Number: RE10/2089, SCC ref 2010/0197
Approved: January 2012
Permitted: Construction of an exploratory well site, use of the site for drilling one exploratory borehole and short-term testing for hydrocarbons
Duration: 3 years
Status: Expired

Number: RE 16/02556/CON SCC ref 2016/0189
Approved: October 2017
Permitted: Retention of well site and vehicle access, appraisal and further flow testing of Horse Hill-1 borehole, further flow testing of HH-1, drilling a deviated sidetrack and flow testing, drilling a second deviated borehole and flow testing
Duration: 3 years
Status: Expired

Number: RE18/02667/CON, SCC Ref 2018/0152
Approved September 2019
Permitted: Retention and extension of the existing well site, HH1 and HH2 wells, drilling four new hydrocarbon wells, one water reinjection well, process and storage area, loading facility, production of hydrocarbons from six wells for 25 years.
Status: Quashed by Supreme Court
Posted at 06/9/2024 14:19 by noirua
Is there a UK Oil & Gas share price forecast for 2024?
The analyst consensus target price for shares in UK Oil & Gas is 4.40p. That is 9900% above the last closing price of 0.04p.

Analysts covering UK Oil & Gas currently have a consensus Earnings Per Share (EPS) forecast of for the next financial year.


Is there a positive outlook for UK oil and gas? According to government figures (September 2023), the oil and gas industry contributes £17billion a year to the economy, with the £50billion in tax revenue generated over the next five years to be invested in clean energy.
Posted at 30/8/2024 19:01 by bionicdog
Do you think Lyin’ Steve Sanderson feels shame? Has he looked at the UK Oil & Gas share price?
UK Oil & Gas (UKOG) shares were pumped to 0.12p in late July on the basis of spurious claims about the company’s plans to get into Hydrogen. Yes: some folks actually went into the market and paid that much. Many more were paying 0.1p plus.
Posted at 30/8/2024 07:22 by jungmana
The share price reached 0.13p 4 weeks back but couldn't go higher as funding kicked in.Now that's done and we have £1.25 million new cash in hand to progress the hydrogen storage projects this can rise a lot higher. The potential is huge at £5 million market cap ( 0.045p with 11 billion shares total in issue now)Talking to government and some big players in the energy industry with the blessings of 3 huge energy giants.Ukog may silence its doubters soon.GLA.
Posted at 29/8/2024 11:22 by 1347
If you're keen on hydrogen storage go and do some decent research and invest in a proper project, not a tin pot company like UKOG run by a con man and serial falure who has just rented a field in Dorset and got his shills to ramp the share price on the back of a few rather meaningless letters in order to do yet another placing to fund his lifestyle. Ask yourself why don't UKOG directors have more than a token holding in this jam tomorrow company?
Posted at 25/8/2024 13:43 by noirua
As of August 24, 2024, UK Oil & Gas Plc (UKOG) has a market capitalization of £3.55 million and a share price of 0.04p. Over the past year, UKOG shares have traded between 0.0135p and 4.65p. In February 2024, UKOG shareholders approved a ten-to-one share consolidation and the company announced plans to raise money for the Loxley gas site through a share plan. In June 2024, UKOG announced that it would be preparing to construct a site for drilling Loxley-1z, but that it would first try to reduce commercial risk in the project.
Posted at 05/8/2024 08:00 by nasarsaddique
RNS Number : 0760ZUK Oil & Gas PLC05 August 2024 UK Oil & Gas PLC("UKOG" or the "Company") Placing and Retail Offer to fund hydrogen storage UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has conditionally raised gross proceeds of £1.0 million by means of a placing (the "Placing") of new Ordinary Shares (the "Placing Shares") at a price of 0.05 pence per share (the "Issue Price"). The Issue Price represents a discount of approximately 37% per cent to the Closing Price of 0.08 pence per Ordinary Share on 2nd August 2024, being the latest practicable business day prior to the publication of this Announcement.In addition to the Placing, as the Company values its existing retail shareholder base, the Company also intends to offer its existing retail shareholders a "Retail Offer" of new Ordinary Shares at the same Issue Price as the Placing (the "Retail Offer Shares" and together with the Placing Shares the "Fundraising Shares").The Company will release a separate announcement regarding the Retail Offer and its terms. For the avoidance of doubt, the Placing is separate from and does not form part of the Retail Offer.The Placing and Retail Offer are conditional, inter alia, upon the passing of resolutions to be put to the Company's shareholders at a General Meeting, expected to be held via a virtual platform on or around 21st August 2024 and the Fundraising Shares being admitted to trading ("Admission") on the AIM market ("AIM") of London Stock Exchange plc ("LSE").Use of Proceeds: The Placing's proceeds will be directly employed to further specific activities required to materially advance the Company's hydrogen storage projects. Specifically, it will permit the Company to initiate essential new studies, including but not limited to environmental surveys, engineering studies and other works necessary to submit applications for: (i) government Revenue Support in the first hydrogen storage allocation round (see RNS 29th May 2024, 27th June 2024 and 2nd August 2024), and (ii) Development Consent Orders under the Nationally Significant Infrastructure Project planning regime. The funds will also permit the Company to further negotiations with identified prospective strategic joint venture partners and conclude a land option agreement for a further hydrogen storage site. The Company will also seek further Letters of Support for its Revenue Support application similar to those recently furnished by major energy and UK hydrogen infrastructure players RWE, Sumitomo and SGN. Placing Summary ·    The Placing raised £1,000,000 (before expenses) through the issue of 2,000,000,000 Placing Shares at the Issue Price.·    The net proceeds of the Placing will be utilised as described above.·    Participants in the Placing have subscribed on the basis of the customary terms and conditions of the Placing.The Placing Subject to the passing of resolutions by the Company's shareholders at the General Meeting, the Company will issue 2,000,000,000 Placing Shares, to raise gross proceeds of £1,000,000 to participants in the Placing. Admission to trading on AIM is expected on or around 27th August 2024. CMC Markets UK Plc ("CMC"), trading as CapX, acted as the Company's sole placing agent in respect of the Placing. Stephen Sanderson UKOG's Chief Executive commented:"The funding, together with the support from leading UK energy and hydrogen-space infrastructure players, RWE, Sumitomo and SGN, means we can now materially advance our nationally significant projects towards the goal of a competitive Revenue Support application. It will also greatly help us to secure at least one major strategic partner as a joint venture participant and to enhance our lobbying efforts with our new Labour government, who to date seem motivated and committed to making hydrogen and its storage a fundamental part of Britain's renewable superpower ambition." Placing Information The Placing has not been underwritten by CMC and is conditional inter alia on the placing agreement dated 2nd August 2024 between the Company and CMC (the "Placing Agreement") not having been terminated or breached and the Admission of the Placing Shares to trading. The Placing is conditional on the Company obtaining shareholder authority at the General Meeting and the Placing Agreement includes customary terms and conditions.  The Placing Shares will be issued, credited as fully paid, and will rank pari passu with the existing Ordinary Shares in issue in the capital of the Company, including the right to receive all dividends and other distributions (if any) declared, made or paid on or in respect of such shares after the date of their issue.Admission to trading Application will be made to AIM for Admission, which is expected to become effective and dealings in the Placing Shares to commence at, 8.00 a.m. on or around 27th August 2024.Following Admission, the total voting rights in the Company will therefore be 10,167,456,073 and Shareholders will be able to use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules. For further information, please contact:UK Oil & Gas PlcStephen Sanderson / Matt Cartwright                                                                           Tel: 01483 941493 
Posted at 03/8/2024 11:20 by talais
Zak MirUK Oil & Gas (UKOG) announced that its strategic Dorset and Yorkshire underground hydrogen storage projects have received a further key letter of support from RWE, a leading global energy company and one of the largest renewable and conventional UK electricity generators, supplying around 15% of UK power demand. RWE is also a major player in the UK green hydrogen space, a sector with key synergies to UKEn's storage projects.Comment: UKOG provides some decent backing for the recent rather unexpected share price spike, perhaps just when many in the market had effectively written the company off.
Posted at 02/8/2024 17:54 by noirua
UKOG Financial Statements


25 July 2024 - UK Oil & Gas PLC - Convertible loan fully repaid
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has fully repaid the balance of the convertible loan facility with RiverFort Global Opportunities PCC Limited and YA II PN Ltd and, as a result, the Company is now debt free.

10 July 2024 - Placing and termination of convertible loan

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has successfully raised gross proceeds of £0.5 million by means of a placing (the "Placing") of new Ordinary Shares (the "Placing Shares") at a price of 0.015 pence per share (the "Placing Price"). The Placing Price represents a discount of approximately 28% per cent to the Closing Price of 0.021 pence per Ordinary Share on 09 July 2024, being the latest practicable business day prior to the publication of this Announcement.

Use of Proceeds:

The Placing's proceeds will firstly be employed to repay in full the balance of the convertible funding facility with RiverFort Global Opportunities PCC Limited and YA II PN Ltd as per the Company's RNS of 21st June 2024, and as originally announced on 28th June 2023.
Posted at 01/8/2024 01:03 by noirua
The share price is under pressure and many have taken short positions in an effort
to recover earlier losses.
At a point positions will be closed and the share price will rebound.
Don't get caught out close short positions.
Uk Oil & Gas share price data is direct from the London Stock Exchange

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