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5 May 2022 13:21
IN BRIEF: UKOG shares rocket on environment permit win for Horse Hill
UK Oil & Gas PLC - London-based oil and gas company - Wins full production permit for its Horse Hill field from the UK Environment Agency. The project is 86% owned by UKOG, with a 12% stake held by Alba Mineral Resources PLC. The permit enables production and water re-injection operations, incineration of waste gas, maintenance and workovers, and the drilling of further development wells. Horse Hill is an oil project near Gatwick Airport in southern England. UKOG can now proceed with its plants to convert HH-2z into a water injector over the year, which would eliminate the requirement to take saline formation water from remote third-party sites, reducing costs.
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