Mentioned in ukog RNS20 Aug 2018 09:16
Stephen Sanderson, UKOG's Chief Executive, commented:
Â
"Although modest in overall size, these acquisitions, the first under the Company's new AIM operating company status, are highly strategic in that they deliver to UKOG, the driving force behind the HH-1 Portland and Kimmeridge oil discovery, a majority 56.9% shareholding in HHDL. Importantly, the resultant 36.985% beneficial Licence interest also makes UKOG the largest single party in the HH-1 discovery and Licences. In cooperation with the remaining co-venturers, the Company can now effectively steer the project directly towards planned permanent production and potentially significant cash flow in 2019.
Â