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Uk Oil & Gas Regulatory News (UKOG)



Regulatory News for Uk Oil & Gas (UKOG)


Share Price: 1.125Bid: 1.10Ask: 1.15Change: 0.125 (+12.50%)Riser - Uk Oil & Gas
Spread: 0.05Spread as %: 4.55%Open: 1.00High: 1.125Low: 1.00Yesterday’s Close: 1.00





Completion of Acquisition in Horse Hill

Thu, 21st Feb 2019 07:00

RNS Number : 6680Q
UK Oil & Gas PLC
21 February 2019

UK Oil & Gas PLC

("UKOG" or the "Company")

Completion of 6% Interest Acquisition in Horse Hill Oil Field and Licences

UK Oil & Gas PLC (London AIM: UKOG) announces that it has completed the previously announced acquisition of the 6% shareholding in Horse Hill Developments Ltd ("HHDL") from Doriemus PLC ("the Vendor"). The Company now owns a controlling 77.9% interest in its subsidiary HHDL and holds a majority 50.64% beneficial interest in the Horse Hill oil field and surrounding geologically prospective PEDL137 and PEDL246 licences ("the Licences").

Transaction Summary

The Company has acquired from the Vendor a 6% interest in HHDL, equating to a 3.9 % beneficial interest in the oil field and Licences. The total consideration is £2,100,000 settled by the issue of 129,629,630 new ordinary shares in UKOG ("Consideration Shares") as outlined in the announcement of the 14 February 2019.

An application has been made for the Consideration Shares to be admitted to trading on AIM, which are expected to be admitted on or around 28 February 2019 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 5,714,273,186 ordinary shares. The Company holds no shares in treasury. The enlarged ordinary share capital figure may be used by shareholders in the Company as the denominator for the calculations by which they can 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.

HHDL and the Licences

UKOG's subsidiary HHDL owns a 65% working interest and operatorship of the Licences, with the remaining 35% interest being held by Magellan Petroleum (UK) Limited.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

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: 0207 397 8919

Novum Securities (Joint Broker)

John Bellis / Colin Rowbury Tel: 020 7399 9425

Public Relations

Brian Alexander / David Bick Tel: 01483 243450


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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Related Shares:
(UKOG)




DateSourceHeadlineCategory
11-Jun-19 07:00RNSHorse Hill-1 - 50,000 Barrels of Oil ProductionResults and Trading Reports
03-Jun-19 07:00RNSAcquisition of Further Interest in PEDL143Mergers, Acquisitions and Disposals
17-May-19 07:00RNSHorse Hill-1 Production Test UpdateCompany Announcement - General
16-Apr-19 07:00RNSAcquisition of Further Interest in PEDL143Mergers, Acquisitions and Disposals
11-Apr-19 14:46RNSResult of Annual General MeetingResults and Trading Reports
11-Apr-19 07:00RNSOil Production Test UpdateResults and Trading Reports
27-Mar-19 07:00RNSSuccessful Placing to Raise £3.5 MillionCompany Announcement - General
19-Mar-19 12:26RNSPosting of Annual Report and Accounts & AGM NoticeCompany Announcement - General
15-Mar-19 07:10RNSOil Production UpdateResults and Trading Reports
15-Mar-19 07:00RNSFinal Results for the year ended 30 September 2018Results and Trading Reports
12-Mar-19 16:41RNSSecond Price Monitoring ExtnCompany Announcement - General
12-Mar-19 16:35RNSPrice Monitoring ExtensionCompany Announcement - General
21-Feb-19 07:00RNSCompletion of Acquisition in Horse HillMergers, Acquisitions and Disposals
18-Feb-19 07:00RNSPortland Oil Production Resumes at Horse HillResults and Trading Reports
14-Feb-19 07:00RNSAcquisition of Further Interest in Horse HillMergers, Acquisitions and Disposals
11-Feb-19 09:05RNSSecond Price Monitoring ExtnCompany Announcement - General
11-Feb-19 09:00RNSPrice Monitoring ExtensionCompany Announcement - General
08-Feb-19 14:05RNSSecond Price Monitoring ExtnCompany Announcement - General
08-Feb-19 14:00RNSPrice Monitoring ExtensionCompany Announcement - General
08-Feb-19 11:05RNSSecond Price Monitoring ExtnCompany Announcement - General
08-Feb-19 11:00RNSPrice Monitoring ExtensionCompany Announcement - General
01-Feb-19 15:28RNSRelated Party Contractor AgreementCompany Announcement - General
23-Jan-19 11:01RNS2019-2020 Strategy and Drilling PlansResults and Trading Reports
22-Jan-19 09:00RNSCompletion of Arreton Oil Discovery AcquisitionCompany Announcement - General
16-Jan-19 07:00RNSKimmeridge Oil Production Continues at HH-1Results and Trading Reports
12-Dec-18 07:00RNSAcquisition of Interest in Arreton Oil DiscoveryMergers, Acquisitions and Disposals
15-Nov-18 07:00RNSEWT Update, Portland & Kimmeridge Oil DiscoveryResults and Trading Reports
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


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