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Uk Oil & Gas Regulatory News (UKOG)



Regulatory News for Uk Oil & Gas (UKOG)


Share Price: 1.90Bid: 1.80Ask: 1.90Change: 0.025 (+1.33%)Riser - Uk Oil & Gas
Spread: 0.10Spread as %: 5.56%Open: 1.875High: 1.90Low: 1.90Yesterday’s Close: 1.875





18-month Planning Extension Approved

Tue, 11th Sep 2018 16:24

RNS Number : 4634A
UK Oil & Gas PLC
11 September 2018
 

 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Regulatory Update: 18-month Planning Extension Approved,

Broadford Bridge-1 and 1z Kimmeridge Oil Discovery, Licence PEDL234, Weald Basin, UK

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that West Sussex County Council's Planning Committee have approved, by a significant majority vote, an 18-month extension to the existing planning permission covering its 100% owned and operated BB-1 and 1z Kimmeridge oil discovery, located in licence PEDL234. The planning extension, which will expire in March 2020, will provide the Company with the necessary time to complete its plans to re-enter the BB-1 well to drill and flow test a new Kimmeridge sidetrack, BB-1y.

 

Drilling of the BB-1y sidetrack well is planned to directly follow the drilling of the new 2019 Kimmeridge exploratory and overlying Portland gas appraisal well in the basin-centre area of PEDL234, a planning application for which is expected to be submitted this Autumn. The drilling of the sidetrack and new PEDL234 well are subject to the grant of necessary regulatory consents.

 

Qualified Person's Statement

 

Rob Wallace, UKOG's principal technical advisor, who has over 40 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Wallace is a Chartered Scientist, Chartered Geologist and Fellow of the Geological Society of London, an active member of the American Association of Petroleum Geologists, a member of the Petroleum Exploration Society of Great Britain and a member of the South African Geophysical Society.

 

For further information, please contact:

 

UK Oil & Gas 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 / Neil McDonald                                                                                           Tel: 020 7397 8919

 

Novum Securities                                                                                                           

John Bellis                                                                                                                          Tel: 020 7399 9400

 

(Joint Broker) Public Relations

Brian Alexander / David Bick                                                                      Tel: 01483 243450

 

 

UKOG Licence Interests

 

The Company has interests in the following UK licences:

 

Asset

Licence

UKOG Interest

Licence Holder

Operator

Area (km2)

Status

Avington 1

PEDL070

5%

UKOG (GB) Limited

IGas Energy Plc

18.3

Field currently shut in

Broadford Bridge 3

PEDL234

100%

UKOG (234) Ltd 4

UKOG (234) Ltd 4

300.0

BB-1 & 1z oil discovery, Planning extension granted, new planning application for further exploratory well planned in Autumn

Holmwood 3

PEDL143

40%

UKOG

Europa Oil & Gas (Holdings) plc

91.8

Seeking alternate sites to drill Holmwood and other Portland & Kimmeridge prospects

Horndean 1

PL211

10%

UKOG (GB) Limited

IGas Energy Plc

27.3

Field in stable production

Horse Hill 5

PEDL137

46.735%

Horse Hill Developments Ltd 6

Horse Hill Developments Ltd 6

99.3

Portland EWT completed successfully, KL3 & KL4 EWT to commence, 2 further appraisal wells scheduled for Q4 2018/Q1 2019

Horse Hill 5

PEDL246

46.735%

Horse Hill Developments Ltd6

Horse Hill Developments Ltd 6

43.6

As above

Isle of Wight (Onshore) 2, 3

PEDL331

65%

UKOG

UKOG

200.0

Preparing planning submission  for Arreton-3 Portland oil appraisal well & Arreton S. look-alike exploration well 

Markwells Wood 2

PEDL126

100%

UKOG (GB) Limited

UKOG (GB) Limited

11.2

Revised Kimmeridge test planning application underway

               

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
    oil discovery well, the extension of the Godley Bridge Portland gas discovery plus further exploration
     prospects.

4.  UKOG has a 100% interest in UKOG (234) Ltd, which has a 100% interest in PEDL234.

5.  Oil discovery in 3 zones, EWT ongoing, two further wells HH-1z and HH-2 planned  end 2018/early 2019

6.  UKOG has a direct 71.9% 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 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.
 
END
 
 
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DateSourceHeadlineCategory
18-Oct-18 07:00RNSPortland Declared Commercially ViableResults and Trading Reports
10-Oct-18 13:55RNSEWT Update: Horse Hill-1Results and Trading Reports
05-Oct-18 11:30RNSExtended Well Test and Regulatory UpdateCompany Announcement - General
25-Sep-18 07:00RNSCompletion of Further Interest in HHDLCompany Announcement - General
11-Sep-18 16:24RNS18-month Planning Extension ApprovedCompany Announcement - General
10-Sep-18 12:30RNSEWT Updates, Portland & Kimmeridge Oil DiscoveryResults and Trading Reports
06-Sep-18 18:03RNSExercise of WarrantsCompany Announcement - General
04-Sep-18 11:22RNSUpdate - Holmwood Licence (PEDL 143)Company Announcement - General
03-Sep-18 12:24RNSHigh Court Grants Interim InjunctionCompany Announcement - General
30-Aug-18 07:00RNSAcquisition of Further Interest in Horse HillMergers, Acquisitions and Disposals
29-Aug-18 09:05RNSSecond Price Monitoring ExtnCompany Announcement - General
29-Aug-18 09:00RNSPrice Monitoring ExtensionCompany Announcement - General
24-Aug-18 16:40RNSSecond Price Monitoring ExtnCompany Announcement - General
24-Aug-18 16:35RNSPrice Monitoring ExtensionCompany Announcement - General
20-Aug-18 07:00RNSAcquisition of Further Interest in HHDLMergers, Acquisitions and Disposals
13-Aug-18 14:00RNSExercise of WarrantsCompany Announcement - General
03-Aug-18 11:30RNSPortland high-rate flow test successfully completeCompany Announcement - General
31-Jul-18 14:00RNSSchedule 1 Update - UK Oil & Gas PlcCompany Announcement - General
31-Jul-18 12:34RNSResult of General MeetingResults and Trading Reports
18-Jul-18 14:00RNSPortland Extended Flow Test ("EWT")Company Announcement - General
13-Jul-18 12:36RNSCorporate Update & Notice of GMCompany Announcement - General
12-Jul-18 16:00RNSSchedule 1 - UK Oil & Gas PlcCompany Announcement - General
09-Jul-18 14:05RNSSecond Price Monitoring ExtnCompany Announcement - General
09-Jul-18 14:00RNSPrice Monitoring ExtensionCompany Announcement - General
09-Jul-18 11:05RNSSecond Price Monitoring ExtnCompany Announcement - General
09-Jul-18 11:00RNSPrice Monitoring ExtensionCompany Announcement - General
09-Jul-18 07:00RNSCorporate Update: Change of AIM Trading StatusCompany Announcement - General
04-Jul-18 07:00RNSSuccessful Placing to Raise £2mResults and Trading Reports
03-Jul-18 14:00RNSPrice Monitoring ExtensionCompany Announcement - General
02-Jul-18 16:40RNSSecond Price Monitoring ExtnCompany Announcement - General


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