UK Oil & Gas PLC - London-headquartered exploration and production company - Says construction of the Basur-3 appraisal well's drilling pad and access road has now commenced. Construction works, located within the company's 50% owned Resan licence in Turkey, are scheduled to last 60 days.
UK Oil & Gas says it continues to view the forthcoming Basur-3 and subsequent Resan-6 appraisal drilling programme, also in Turkey, to present a compelling and potentially transformational growth opportunity for the company.
Current stock price: 0.12 pence, up 3.9% on Tuesday
Year-to-date change: down 20%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Uk Oil & Gas (UKOG)