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UK Oil & Gas PLC - London-based oil and gas exploration and production company - Secures written consent from Turkey's General Directorate of Mining and Petroleum Affairs for the Pinarova-1 exploration well's geological and technical objectives and design.
GDMPA must receive a notice of an intended spud date five days before drilling starts. UK Oil & Gas expects this to begin around the end of March or early April.
It holds a 50% interest in Pinarova-1, as well as the surrounding 305 square kilometre Resan licence in Turkey.
Current stock price: 0.066 pence, down 3.7% in London on Monday morning
12 month change: down 34%
By Holly Beveridge; Alliance News reporter
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