Uk Oil & Gas Share Price (UKOG)

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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 Shares Traded Last Trade
  0.00 0.0% 0.1125 11,375,217 07:44:33
Bid Price Offer Price High Price Low Price Open Price
0.11 0.115 0.1125 0.1125 0.1125
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.56 -4.84 -0.03 21
Last Trade Time Trade Type Trade Size Trade Price Currency
09:06:24 O 100 0.11 GBX
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Bp (BP.), Harbour Energy (HBR), Spitfire Oil (SRO), Nautilus Marine Services (NAUT)

Uk Oil & Gas (UKOG) Latest News

Uk Oil & Gas News

Date Time Source Headline
30/6/202215:58ALNCIN BRIEF: UK Oil & Gas discovers light oil on Resan licence
30/6/202213:59ALNCEARNINGS UPDATES: UK Oil & Gas and 7digital post widened losses
30/6/202207:05UKREGUK Oil & Gas PLC Interim Results
30/6/202207:00UKREGUK Oil & Gas PLC Turkey operational update
28/6/202213:40UKREGUK Oil & Gas PLC Result of Annual General Meeting
27/6/202207:00UKREGUK Oil & Gas PLC Director/PDMR Shareholding
08/6/202214:05UKREGUK Oil & Gas PLC Second Price Monitoring Extn
08/6/202214:00UKREGUK Oil & Gas PLC Price Monitoring Extension
07/6/202221:20ALNCIN BRIEF: UK Oil & Gas successful in appeal for Loxley gas project
07/6/202217:39DJNUK Oil & Gas Stock Rises on Successful Loxley Planning Appeal
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Uk Oil & Gas Investors    Uk Oil & Gas Takeover Rumours

Uk Oil & Gas (UKOG) Discussions and Chat

Uk Oil & Gas Forums and Chat

Date Time Title Posts
01/7/202208:47UKOG strikes oil 2016154,473
30/6/202220:16THERESA MAY FAVOURS THE GATWICK GUSHER AND NOT NUCLEAR POWER34
30/6/202208:42Is Turkey's positive being ignored?3
30/6/202208:41IS UKOG WORTH MORE THAN ALL NORTH SEA OIL PLAYS TOGETHER? Ј35BILLION OR Ј10/SHAR20
30/6/202208:40ukog finds oil field to compare with Saudi's but mainstream media silent..why?23

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Uk Oil & Gas (UKOG) Top Chat Posts

DateSubject
01/7/2022
09:20		Uk Oil & Gas Daily Update: Uk Oil & Gas Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker UKOG. The last closing price for Uk Oil & Gas was 0.11p.
Uk Oil & Gas Plc has a 4 week average price of 0.11p and a 12 week average price of 0.11p.
The 1 year high share price is 0.25p while the 1 year low share price is currently 0.09p.
There are currently 18,625,688,159 shares in issue and the average daily traded volume is 62,027,026 shares. The market capitalisation of Uk Oil & Gas Plc is £20,953,899.18.
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15/6/2022
10:15		iammrweald: Wow,how many of those themes are ukog exporting the UK powerhouse? What? What's that? None! No wonder the share price is depressed...like most of its holders. As said forever,its down the road,capex v capitulation Answer these little questions Oaf. Burn v earn
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12/6/2022
00:34		iceagefarmer: Rt Hon Jeremy Hunt MP House of Commons London SW1A 0AA 10th June 2022 Dear Mr Hunt, As a constituent of SW Surrey and as Chief Executive of UK Oil & Gas plc (UKOG), I take serious issue with your assertions regarding the grant of planning consent for UKOG’s Loxley development stated in your letter to the Rt Hon Michael Gove MP of 9th June 2022. Your assertion that Loxley’s natural gas has no part in the UK’s future energy supply disregards the scenarios envisaged in the PM’s British Energy Security Strategy, the UK Hydrogen Strategy, National Grid’s Future Energy Scenarios and CCC forecasts, where natural gas plays a significant role in the energy transition as a feedstock for reforming into blue hydrogen. Future gas also has a continued role in the energy transition to help meet peak energy demand, especially during periods when the wind doesn’t blow, the sun doesn’t shine or nuclear has outages, as seen in summer 2021. Due to the projected decline of current UK gas production, during 2035-2050 CCC’s scenarios predict that gas import dependency could grow from its current 50% to 60-81% of demand. At today’s market prices such imports would represent a staggering £1 trillion balance of payments deficit to the UK. Future domestic gas thus has a significant future strategic and economic value and key role during the transitional period. As a consequence, and as stated at the inquiry, this is why UKOG has earmarked the 43-70 billion cubic feet of independently estimated recoverable gas at Loxley as a predominantly blue hydrogen source, a fuel firmly of our collective futures, capable of delivering an 85% reduction in carbon emissions if allied to carbon capture. UK domestic gas, such as Loxley’s, also has around a fifth to a quarter of the pre-combustion carbon footprint of imports. UKOG’sinquiry evidence demonstrated that over itslife, future Loxley production could reduce CO2e emissions by 600,000 to 1,000,000 tonnes compared to an equivalent imported gas volume. This would help, not hinder, net zero as your letter claims. You also assert that the development would create environmental damage, which is wholly false and untrue. It is a matter of public record that the Environment Agency granted UKOG a full environmental permit covering all aspects of the proposed Loxley operation on 26th June 2020. UKOG acts in obeyance of all environmental rules and regulations and can cite an excellent compliance record in all such regulatory areas, as does the wider UK oil and gas industry. With respect to your assertion that the development would have little economic benefit, the estimated annual Loxley gas volumes, derived from data in four prior boreholes, well tests and other technical data are estimated, in energy equivalent terms, to be equivalent to the annual gas consumption of 110,000 households or the annual electrical power consumption of 200,000 homes. With gas prices currently at around £15/1000 ft³, the project could thus be of significant material benefit to both the exchequer and the Surrey economy over its expected 20-year life. UK Oil & Gas PLC is incorporated in England and Wales. Company registration number 5299925 UK Main Office: Hays House, Millmead, Guildford, Surrey GU2 4HJ Registered Office: 8th Floor, Broadgate Tower, 20 Primrose Street, London EC2A 2EW UKOG’s proposed development of the already discovered Loxley resource requires only one well and a sidetrack to confirm that it can produce commercially viable volumes and rates before longer-term production consent is requested. The period where a drilling rig is required on site to make this production decision is therefore short, being c. 45 days for the first vertical pilot hole and a further 30 days for the sidetrack, then followed by a period of flow testing of up to 6 months’ duration. As the Secretary of State’s judgement details, UKOG has also agreed to a plethora of traffic, working hours, light, noise, visual and other impact mitigation measures as part of SCC’s pre-commencement conditions. For the majority of its life the site will have low levels of operational and traffic activity as do the other largely hidden oil and gas producing sitesin the UK onshore. Consequently, your assertion that our activities will be hugely disruptive also seems highly exaggerated. I should also like to correct a factual error in your letter, where you state that UKOG’s proposals were decisively rejected by Surrey County Council (SCC). In fact, SCC’s planning and regulatory committee voted to reject our planning application by a slim majority of 6 to 5, against the recommendation to approve by their own planning officers. Finally, you refer to the moratorium on fracking, but our operations at Loxley do not involve any fracking, it is conventional gas. I stand firmly behind my assertion that the Loxley development and any others of its kind make perfect strategic, economic and environmental sense for Surrey and the UK. I would be happy to meet to engage in constructive dialogue. Yours sincerely Stephen Sanderson Chief Executive
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10/6/2022
06:54		iammrweald: No.2 stooge,yes,you Zippo dopey! I see you like facts as your above repeated posts highlight. So,would you,as a clever all seeing (other peoples portfolios!!)give me some non rns facts,ie,in YOUR own words about the timings of those operational cash generative works in the Weald and Turkey. You seem to be the go to guru on here with all things ukog,so here's your chance of fame. Tell the " genuine holders" when all these little life changing events will transform this pathetic share price (your words btw) into riches?? This should be fun!! Oh,please leave you dating codes and love of weird doggy bum love at the door!! What a freak!! he he
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09/6/2022
22:45		zico01: The approval of Loxley gas field has presented the company a fantastic opportunity to generate substantial amounts of revenue and free flow cash ( profits ). Gas prices will remain high for the foreseeable future. According to Xodus Group Loxley contains in the region of 50 billion cubic feet (bcf) of recoverable gas. In terms of recoverable gas resources, the calculated figures places Loxley as one of the largest gas accumulations discovered and flow tested in the UK onshore. If proven by future production, the calculated gross mean recoverable resources would place Loxley second after the Saltfleetby gas field, the UK onshore's largest gas field to date, which produced approximately 73 bcf. These results further underline the Company's view that the 48 km(2) Loxley geological structure contains materially significant gas volumes, which in a success case of around 4-5 bcf/year, on an energy equivalent basis, could have the capacity to power around 200,000 homes per year. According to Statista.com UK gas price will remain very high until 2024/25. Average UK gas price over the next 2 years will be about £1.50 to £2.00 per Therm. Gross revenue for the company if it recovered 50 billion cubic feet of gas . At £2.00/therm would give the company £1 billion gross revenue less costs. At £1.50/therm would give the company £750 million gross revenue less costs. These revenue numbers are massive compared to the size of this small company.The company will also be profitable and generate £millions of free flow cash. Expect the share price to rerate significantly upwards over the foreseeable future. nb, Gas price in September 2021 went to £3.00/therm In January 2022 the price went as high as £4.50/therm. In March 2022 gas price was over £5.00/therm. My calculations are on £1.50 to £2.00 per therm,the price may well be significantly higher.
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09/6/2022
19:17		zico01: The approval of Loxley gas field has presented the company a fantastic opportunity to generate substantial amounts of revenue and free flow cash ( profits ). Gas prices will remain high for the foreseeable future. According to Xodus Group Loxley contains in the region of 50 billion cubic feet (bcf) of recoverable gas. In terms of recoverable gas resources, the calculated figures places Loxley as one of the largest gas accumulations discovered and flow tested in the UK onshore. If proven by future production, the calculated gross mean recoverable resources would place Loxley second after the Saltfleetby gas field, the UK onshore's largest gas field to date, which produced approximately 73 bcf. These results further underline the Company's view that the 48 km(2) Loxley geological structure contains materially significant gas volumes, which in a success case of around 4-5 bcf/year, on an energy equivalent basis, could have the capacity to power around 200,000 homes per year. According to Statista.com UK gas price will remain very high until 2024/25. Average UK gas price over the next 2 years will be about £1.50 to £2.00 per Therm. Gross revenue for the company if it recovered 50 billion cubic feet of gas . At £2.00/therm would give the company £1 billion gross revenue less costs. At £1.50/therm would give the company £750 million gross revenue less costs. These revenue numbers are massive compared to the size of this small company.The company will also be profitable and generate £millions of free flow cash. Expect the share price to rerate significantly upwards over the foreseeable future. nb, Gas price in September 2021 went to £3.00/therm In January 2022 the price went as high as £4.50/therm. In March 2022 gas price was over £5.00/therm. My calculations are on £1.50 to £2.00 per therm , the price may well be significantly higher.
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07/6/2022
16:27		patio58: TIDMUKOGRNS Number : 0467OUK Oil & Gas PLC07 June 2022UK Oil & Gas PLC("UKOG" or the "Company")Successful Loxley Planning Appeal OutcomeUK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that the Right Hon Stuart Andrew MP, Minister for Housing acting for the Secretary of State ("SoS") for Levelling Up, Housing and Communities has overturned Surrey County Council's ("SCC") refusal of planning consent for its wholly-owned Loxley conventional gas and hydrogen feedstock project. With both planning and environmental consents in hand the Loxley gas project can now, finally, proceed ahead.SCC twice refused planning consent, going against the advice of its planning officers, forcing UKOG to undertake a lengthy and costly appeal process. In January of this year the SoS recovered the appeal from the Planning Inspectorate.The Company has also consistently stated that it envisages Loxley to play its part in the government's Hydrogen Strategy via the supply of its gas as feedstock for reformation into clean burning hydrogen, an energy source with an 85% reduction in related carbon emissions versus natural gas.Stephen Sanderson, UKOG's Chief Executive commented:"We welcome this decision and its backing for Loxley's gas as a secure, sustainable energy source with a far lower pre-combustion carbon footprint than imports. Backing UK domestic gas makes strategic, economic and environmental good sense. We look forward to moving the Loxley project forwards and to working constructively with the local community."
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01/6/2022
08:23		iammrweald: So,stooges, tell me what's gonna unfold today? Me? I'm told the suits will massage the share price down a tad,test the mettle of traders who are hoping for news after long weekend,keeping them locked in. Thoughts...I assume you have 1 between you? he he Hey Stooge/ oaf No1...you pick up any cornish pasties that I told you about? You could have put your ukog winnings in and be up 25% by now..
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30/5/2022
13:59		sharetalk: UK Oil & Gas PLC 30 May 2022 hTTps://uk.advfn.com/stock-market/london/uk-oil-gas-UKOG/share-news/UK-Oil-Gas-PLC-Future-hydrogen-ready-energy-stor/88237738 Future hydrogen-ready energy storage project UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that its wholly owned subsidiary, UK Energy Storage Ltd ("UKEn") has signed an Agreement to Lease ("A2L") with Portland Port Limited ("PPL") covering two sites at the former Royal Navy port in Dorset, with the intent to develop, subject to new planning consent and securing necessary development finance, a planned integrated Energy-Hub, centred around hydrogen-ready gas storage and a future green hydrogen generation capability. UKOG's Portland Energy-Hub concept: As agreed between the parties, UKEn's planned Energy-Hub development concept seeks to reinvigorate and build further upon a prior unrealised project by Portland Gas Storage Ltd, granted planning consent by Dorset County Council in 2008, to situate approximately 43 billion ft(3) "bcf" (1.2 billion m(3) or "bcm") of underground salt cavern storage beneath PPL's land. Utilising established engineering concepts, public record planning submissions, publicly available data, UKOG internal studies and technical, engineering and economic modelling advice from Xodus Group ("Xodus"), the planned new Energy-Hub is envisaged to include the following key elements: -- A strategically located hydrogen-ready Energy-Hub within an active harbour site; -- Construction of up to 43 bcf (1.2 bcm) of hydrogen-ready salt cavern storage. For context, if this capacity is ultimately achieved it would materially increase the UK's current reported 61 bcf (1.7 bcm) total working underground gas storage capacity. The envisaged hydrogen-ready build also means the site could hold either hydrogen or natural gas from operational inception; -- Salt cavern storage would be linked to the national pipeline transmission system ("NTS") via a new planned hydrogen-ready pipeline. As per the prior 2008 project, the new pipeline would be designed with an envisaged capacity designed to be capable of handling up to 1 bcf/day (28 million m (3) /day). For context, this throughput capacity, if achieved, would equate to approximately one seventh (14%) of current estimated UK daily natural gas consumption; -- Pilot scale green hydrogen production and storage, together with hydrogen battery concept investigation. The Company and its consultant Xodus plan to develop future potential to supply renewable electricity for green hydrogen production at the site via an over-the-horizon floating wind farm, an area of Xodus expertise; -- Addition of a new planned LNG import facility in the port, designed to optimise cavern-fill cycle times and maximise revenues. The Company's ambition is to source long-term LNG from the USA and other secure suppliers; -- Development planned to be 'future-proofed' by engineering designed to transition seamlessly into green hydrogen production and storage as the 'hydrogen economy' evolves; -- Local high geothermal heat gradient to be investigated for possible local heat network and/or to power green hydrogen production; -- The Company and PPL will also jointly investigate the potential for using future green hydrogen generation at the port to directly fuel future hydrogen propelled ships. The possibility of future green hydrogen export by ship will also be explored. Stephen Sanderson, UKOG's Chief Executive, commented: "It's hard to recall a time in recent history in which the critical importance of energy security and the resilience of the UK energy system has been so much in the public and governmental eye. UKOG is therefore delighted to announce the intention to develop an infrastructure project, fully in keeping with the government's new British Energy Security and Hydrogen Strategies and National Grid's 2021 Future Energy Scenarios ("FES"), that could both materially strengthen the UK energy system's resilience to supply and demand shocks, plus provide the foundations for a potentially significant and strategic element of the future green hydrogen economy." A2L and Lease: In return for an annual ground rent, a future gas throughput tariff and related LNG vessel berthing charges, the A2L conveys to UKEn the exclusive right to proceed with the development and enter into a 30-year lease should certain conditions be met to UKEn's satisfaction (namely: final property due diligence, planning and regulatory permits, sufficient development finance and the site being free from significant contamination). The A2L contains agreed forms of the Lease and Operating Agreements and contains a longstop date which, unless otherwise agreed, will allow UKEn to terminate if the conditions have not been met within 4 years of the effective date. The lease also grants UKEn the discretionary right at 5-yearly intervals to continue or break the lease. At the end of the initial lease UKEn has the discretionary right to extend the lease for a further 30-year lease period on the same terms. The aggregate total ground rent payable by UKEn up to the A2L longstop date is approximately GBP0.9 million. Next steps: The Company intends to complete further detailed engineering and commercial studies, followed by the preparation and submission of a detailed planning application. Where appropriate and to reduce the planning consent cycle time, the Company intends to update and utilise pertinent aspects of the prior consented development in its planning submission. The Company has been advised by Zetland Ltd, its planning consultants, that the scale and nature of the Energy-Hub development is expected to qualify as a Nationally Significant Infrastructure Project ("NSIP"). This would require planning consent to be sought via an application for a Development Consent Order ("DCO") directly to the Planning Inspectorate. Ultimate authority over the decision on whether to issue a DCO would rest with The Secretary of State for Levelling Up, Housing and Communities.
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28/5/2022
18:15		noirua: UKOG - Play list Https://www.youtube.com/playlist?list=PLodlZqY5566BtX4AAhQiJ3cV_MuRRDMMH Https://www.ukogplc.com/ UKOG AGM in 2021 followed by Q&A.: Https://webcasting.brrmedia.co.uk/broadcast/60633359d7d1917e69019aa2 February 2022 - Zac Mir Interview on Turkey Https://www.ukogplc.com/page.php?pID=109
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25/5/2022
14:19		sharetalk: WEBSITE hTTps://www.ukogplc.com/ UKOG Exploration for and production of onshore oil and gas in the UK, Turkey and potentially the USA. Potential extraction of hydrogen from natural gas, conversion of old oil wells to geothermal, and hybrid energy solutions. Interests include: 1) UK Four onshore oil and gas discoveries, incl: a) Horse Hill (PEDL 137 & PEDL 246) (UKOG 85.635%) Oil discovery: - HH-1 Well: In production - Awaiting drill of 2nd & 3rd production wells (HH-3 & HH-4). - 16/5/2022: Permissions to use HH-2 for water re-injection, so removing transport & disposal costs. - 25/3/2022 (Annual Results, YE 30/9/2021): Yr 2021: Production = 140 bopd, Operating costs = £29 per barrel Yr 2020: Production = 128 bopd, Operating costs = £28 per barrel b) PEDL 234 (UKOG 100%) Oil + Gas: - Loxley (Gas): -- 7/6/2022: Planning approved & drilling can go ahead. -- 21/9/2020: hTTps://uk.advfn.com/stock-market/london/uk-oil-gas-UKOG/share-news/UK-Oil-Gas-PLC-Volumetric-study-confirms-signifi/83294689 Xodus Group details Loxley Portland gas discovery lying within UKOG's 100% owned & operated PEDL 234 licence, interpreted to contain significant mean case gross gas initially in place ('GIIP' i.e. gas in the ground before any future production) of 49 billion cubic feet ('bcf'). Portion of GIIP estimated to be recoverable to surface via future production mean gross recoverable resource) cited as 34 bcf, i.e. estimated recovery factor approx. 70%. Reported high case net PEDL 234 GIIP & estimated high case recoverable resources are 76 bcf & 54 bcf, respectively. Approx. 78% of overall Loxley gas accumulation's gross mean GIIP & recoverable gas resource of 63 bcf & 44 bcf respectively, interpreted to lie within UKOG's PEDL 234 acreage. In terms of recoverable gas resources, the calculated figures places Loxley as one of the largest gas accumulations discovered & flow tested in the UK onshore. If proven by future production, the calculated gross mean recoverable resources would place Loxley second after the Saltfleetby gas field, the UK onshore's largest gas field to date, which produced approx. 73 bcf. These results further underline the Company's (UKOG) view that the 48 sq km Loxley geological structure contains materially significant gas volumes, which in a success case of around 4-5 bcf/year, on an energy equivalent basis, could have the capacity to power around 200,000 homes per year. Table 1 - Xodus calculated GIIP (bcf): UKOG Net: Low 27, Mid 46, Mean 49, High 76 Table 2 - Xodus calculated recoverable (bcf): UKOG Net: Low 18, Mid 32, Mean 34, High 54 - Broadford Bridge (Oil) - BB-1z - Kimmeridge oil discovery: -- 20/5/2022: -- Two year planning permission extension runs until 31/3/2024, "will permit any learnings from possible future Kimmeridge drilling at both the Company's nearby Loxley conventional gas & Horse hill oil fields to be factored into the Company's future Broadford Bridge plans...will also permit conceptual plans for the supply of heat energy from BB to a possible new large scale greenhouse end-user to be further developed. The early-stage concept includes use of the BB drilling pad to site several new stand-alone deep geothermal wells." c) Horndean (UKOG 10%) Oil discovery: - 25/3/2022: "Stable oil production with low water cut continues from the Horndean oil field in Hampshire (UKOG 10%)". 2) Turkey a) Basur-Resan (UKOG 50%): Oil discovery - 20/4/2022: -- Additional seismic completed for B-3S & R-6 re-test wells. "Geological mapping utilising the new PSDM data is well advanced & revised drilling prognoses are in preparation. These will be used to fine tune operational planning for B-3S & a simple vertical R-6 well, designed to test the culmination of the Basur-Resan anticline (i.e., where the objective section is closest to the surface). A rig contractor has been identified. Given the new seismic indicates B-3S requires a longer & higher angle trajectory than previously envisaged, the joint venture is considering the merits & potential cost savings of drilling the simpler R-6 before the more complex B-3S. The Company awaits the operator's drilling cost comparisons, expected timings & final recommendations in this respect before confirming its position." - 15/1/2021: -- Basur-Resan oil discovery contains estimated mean case discovered recoverable oil volume 37 million barrels ("mmbbl") gross & 18.5 mmbbl UKOG net 50% interest (i.e., average case estimated volume that could be produced to surface). -- Rapid monetisation of Discovery's success case possible within a year in Turkey, plus drilling & operating costs are significantly lower than UK. -- Discovery successfully tested at north western end via 1964 Basur-1 discovery well, which flowed 500 bbl oil to surface over 6-hour period from naturally fractured & dolomitised limestones, extrapolated rate equivalent to 2,000 bbl oil per day. -- As per UKOG's 14 Oct RNS, Xodus' June 2020 report estimates Discovery contains aggregate gross mean & high case discovered recoverable volumes (estimated volumes that could be produced to surface) of 37.2 mmbbl & 67 mmbbl respectively, with UKOG's 50% net share being 18.6 mmbbl & 33.5 mmbbl. -- Rapid success case monetisation possible - months versus years in UK. -- As stated on 14 Oct, AME's nearby East Sadak field was discovered & put into production in same year (2014) with 10 wells drilled to date. Unlike the UK... Turkish petroleum law obliges licensees to develop the field & commence production following a discovery. E. Sadak thus demonstrates licensees can transition a successful well test directly into long-term production with minimal delay. -- Significantly lower cost operations than UK - Based upon AME's actual costs at nearby E. Sadak, gross Basur-3 well & flow test costs estimated by AME at $3m (c.£2.4m), lower than c.$7.5m (c.£6m) drilling & testing costs of UKOG's similar depth HH-2 well. General manpower, service & administration costs are also below UK. 3) Other International incl. USA - 25/3/2022: -- "The Company is reviewing the potential acquisition of further new international producing oil & gas properties which have the potential to deliver potentially significant short term cash flow. These assets also have the potential to become self-funding relatively quickly...The Company evaluated a number of potential producing oil & gas fields & near-term production opportunities in the period with the greatest number being within the United States, where the career histories of the Board give privileged access to a broad network of opportunities. A full due diligence evaluation of one international property is now in its final stages. 4) Geothermal - 25/3/2022: -- "we are increasingly active in the newly emerging geothermal energy field, where we possess the key subsurface & engineering skills necessary to make such projects work. We have teamed up with UK geothermal technology specialist Ceraphi Energy Ltd to evaluate the economic feasibility of transitioning a part of our Horse Hill site into a geothermal & solar energy hub. This hub could potentially supply heat energy to a defined significant industrial end-user in the area. We are also a founder member of the Geothermal Energy Advancement Association. ...the Company is also currently evaluating the technical & commercial feasibility of two new potentially significant geothermal-hub projects together with two hydrogen-hub storage & renewable energy projects, one in the south of England & the other in the northeast. The Company hopes to bring at least one new oil & gas opportunity and one or more geothermal-hub & hydrogen-hub projects to fruition in the coming year" - 16/12/2021: -- UKOG signed HoT with Ceraphi Energy for joint venture to develop part of UKOG's Horse Hill site into geothermal energy hub (GeoHub). Targeted to generate & supply more than 200,000 megawatt hours per year continuous baseload, primarily as heat energy. First phase would supply local industrial end-users with 100% green heating & cooling + ancillary green electricity &/or hydrogen. GeoHub concept centres around 6 new deep geothermal boreholes using Ceraphi's "closed-loop" downhole heat exchanger tech. Closed-loop requires no injection or circulation of water within rocks between boreholes, eliminating possibility of induced seismic activity. Heat would be delivered to end user via small diameter hot water pipe & heat pump. Subject to permissions, further wells &/or sites could be added at any stage to supply additional users. Fully in line with UK government's "build back greener" net-zero strategy. Envisaged current oil production would continue to the end of economic life, then boreholes repurposed to add further geothermal baseload, transitioning site into 100% renewable energy provision. Upon execution of joint venture agreement, conceptual engineering design & preparation of planning application planned to commence in 2022. - 27/4/2021: -- UKOG becomes one of six founder members of newly-formed Geothermal Energy Advancement Association..."the Company plans to be increasingly active in this newly-emerging sector, where we possess the key subsurface, engineering & commercial skills necessary to make such projects work. UKOG is actively scoping two new standalone geothermal projects in the UK, together with a hybrid geothermal, solar & battery storage project at our Horse Hill site. We also plan to review geothermal opportunities onshore Turkey once our forthcoming Basur-3 appraisal well has been completed." 4) Hybrid - Hydrogen - 30/5/2022: -- UKOG wholly owned subsidiary, UK Energy Storage Ltd signed Agreement to Lease with Portland Port Limited covering two sites at the former Royal Navy port in Dorset, with intent to develop, subject to new planning consent & securing development finance, planned integrated Energy-Hub, centred around hydrogen-ready gas storage & a future green hydrogen generation capability. hTTps://uk.advfn.com/stock-market/london/uk-oil-gas-UKOG/share-news/UK-Oil-Gas-PLC-Future-hydrogen-ready-energy-stor/88237738 - 25/3/2022: -- "we are currently investigating the viability of hybrid energy sites centred around subsurface gas &/or hydrogen storage. These projects are envisaged to test the Company's hydrogen battery concept to provide peak-shaver power generation & green hydrogen generation from geothermal & other renewable sources. Two new prime coastal sites have been identified & are under active investigation. ...the Company is also currently evaluating the technical & commercial feasibility of two new potentially significant geothermal-hub projects together with two hydrogen-hub storage & renewable energy projects, one in the south of England & the other in the northeast. The Company hopes to bring at least one new oil & gas opportunity and one or more geothermal-hub & hydrogen-hub projects to fruition in the coming year."
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