Uk Oil & Gas Share News (UKOG)

AIM WINNERS & LOSERS: Sureserve up on GBP214.1 million takeover offer

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

IN BRIEF: UK Oil & Gas to resume drilling at Pinarvova-1 on schedule

UK Oil & Gas PLC - UK-focused oil and gas exploration and production company - Says the casing for the Pinarova-1 well in Turkey is now set and cemented down to 287 metres below surface. Installation of the new wellhead and blow-out prevent assembly is now also nearing completion. Drilling is expected to resume on schedule in the next few days, following final wellhead and blow-out prevent pressure test. Plans to drill "cautiously" through the Hoya target zone and to open-hole test any zones where "good live oil shows" are encountered prior to reaching total depth at around 550 metres below surface.

IN BRIEF: UK Oil & Gas shares jump; drilling ahead of schedule

UK Oil & Gas PLC - London-based oil and gas exploration and production company - Says Pinarova-1 has now reached its planned casing point at 291 metres below surface, several days ahead of schedule. Notes that it is planned to test any zones where "good" live oil shows are encountered prior to reaching the estimated total depth of around 500 to 550 metres. Says UKOG's geologist remains on site to help describe Hoya reservoir geology and to identify any live oil to surface in drilling cuttings and/or mud.

UK Oil & Gas starts drilling at Pinarova-1

(Sharecast News) - UK Oil & Gas said on Tuesday that drilling operations at Pinarova-1 began on 7 April.

TRADING UPDATES: Dekel Agri-Vision hails crude palm output jump

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

IN BRIEF: UK Oil & Gas revenue boosted by rising oil prices

UK Oil & Gas PLC - UK and internationally focused energy company - Reports revenue for the full year ended September 30 from sales of oil amounted to GBP1.8 million from GBP1.6 million a year earlier, largely driven by an increase in average sale price from GBP43 per barrel to GBP98 per barrel which was offset by oil production decrease at Horse Hill. Gross profit totalled GBP300,000 compared to a loss of GBP200,000 in 2021. Administration expenses amounted to GBP2.7 million from GBP2.1 million and an operating loss of GBP5.4 million was recorded, widened from GBP3.8 million in 2021. Net cash outflow from operating activities increased to GBP2.0 million from GBP1.4 million a year prior.

TRADING UPDATES: FireAngel signs with British Gas; Shanta pours gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Pennpetro Energy signs deal with UK Oil & Gas to develop Horse Hill

(Alliance News) - Pennpetro Energy PLC on Tuesday signed an agreement with UK Oil & Gas PLC to farm-in and drill the next infill oil production well at the Horse Hill Oil Field, near Gatwick airport.

UK earnings, trading statements calendar - next 7 days

UK Oil & Gas notes CPR results on 10% interest in Horndean

(Alliance News) - UK Oil & Gas PLC on Thursday said a new competent persons report has been completed at its 10% owned Horndean field, by Texas-based DeGolyer & MacNaughton consultancy.

IN BRIEF: UK Oil & Gas begins Pinarova-1 construction on time

UK Oil & Gas PLC - London-based oil and gas exploration and production company - Says construction of TPinarova-1's drilling pad and access road commenced on schedule over the weekend in Turkey. Site construction is expected to take around 14 to 21 days. Given no adverse weather-related construction delays, drilling to a total depth of around 500-550 metres below surface is expected to commence towards the end of March to early April 2023 directly after site completion.

IN BRIEF: UK Oil & Gas gets formal consent for Turkish well objectives

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.

UK Oil & Gas to proceed with Loxley project after court ruling

(Alliance News) - UK Oil & Gas PLC on Friday said it will proceed with its Loxley gas discovery, after a court judge dismissed attempts to reverse the Secretary of State's grant of planning consent as being unarguable.

UK Oil & Gas joint venture secures rig for Pinarova

(Sharecast News) - UK Oil & Gas announced on Wednesday that the Resan joint venture, in which it has a 50% non-operated interest, had secured a suitable small rig to drill the Pinarova-1 shallow oil exploration well, with site construction expected to start within the next seven-to-10 days.

IN BRIEF: UK Oil & Gas secures drilling rig for oil well in Turkey

UK Oil & Gas PLC - oil and gas exploration and production firm with assets focused on the south of England - Secures drilling rig for Pinarova-1 well in Turkey. Will test Eocene Hoya light oil prospect. Expects site construction in seven to 10 days. Says it is fully funded to cover its share of an expected USD400,000 gross dry hole and USD630,000 gross success case costs. Chief Executive Stephen Sanderson says: "Pinarova's prospectivity, potential success case oil volumes and modest drilling costs make it an attractive stand-alone project that could, in the success case, deliver oil production in H1 2023. Given the positive shallow oil seep evidence plus the good light oil shows encountered within Pinarova by the Kezer-1 geothermal well, the new well will seek to establish if that oil is present in commercially viable saturations and volumes that can be pumped to surface. We look forward to the impending start of site construction and subsequent drilling directly upon its completion."