We would love to hear your thoughts about our site and services, please take our survey here.
Saudi Arabia: Drone attack sparks fire at world's largest oil processing facility
https://news.sky.com/story/saudi-arabia-drone-attack-sparks-fire-at-worlds-largest-oil-processing-facility-11809206
Here is a list of our current assets:
Avington (PEDL070)
Field currently shut in. UKOG holds a 5% interest.
Broadford Bridge (PEDL234)
Operated by UKOG’s 100%-owned Kimmeridge Oil & Gas Limited. BB-1 & 1z completed, preparing two further planning applications. The licence area is 300 km².
A24 (PEDL143)
An exploration well is planned for late 2018/early 2019. UKOG has a 40% interest.
Horndean (PL211)
Field is in stable production. UKOG has a 10% interest.
Horse Hill (PEDL137/PEDL246)
Horse Hill Developments Ltd have begun well tests. UKOG holds a 50.64% interest in the Horse Hill licences, and a 77.9% interest in HHDL.
Isle of Wight (PEDL331)
Preparing Arreton-3 oil discovery appraisal well planning submission. UKOG has a 65% interest.
Markwells Wood (PEDL126)
Revised drilling and testing planning application underway. UKOG owns 100% of Markwells Wood.
https://www.getsurrey.co.uk/news/surrey-news/horse-hill-oil-drilling-decision-16903680
Looks like a RNS every few days from here on in...
https://www.investegate.co.uk/uk-oil---38--gas-plc--ukog-/rns/drilling-and-testing-update/201909120700020312M/
Planning and Regulatory Committee (Wednesday 11 September 2019 10.30am)
For UKOG to overcome all the obstructions really is massive news
https://www.youtube.com/watch?v=wBxPp5rgZPE
Following the acquisition, ongoing civil works at Horse Hill, necessary to enable simultaneous Horse Hill-2/2z ("HH-2/2z") drilling and HH-1 Kimmeridge test production, are expected to be completed this week, with drilling expected to start before the end of September. Further HH-2/2z operational updates will be made in due course.
Stephen Sanderson, UKOG's Chief Executive, commented:
"The completion of this transformational acquisition of a further 35% in our flagship asset means UKOG is now firmly in the driving seat at Horse Hill, holding a controlling 85.635% interest. Our operations team is now poised to commence simultaneous Horse Hill-2/2z Portland drilling and HH-1 Kimmeridge test operations before month's end. The remainder of the year at Horse Hill looks set to be highly eventful and, hopefully, financially transformative, as we drive to seek establishing permanent oil production by year end."
Timeline
This webcast is scheduled for Wednesday 11 September 2019 10.30am.
It will start automatically.
Planned
1 APOLOGIES FOR ABSENCE AND SUBSTITUTIONS
2 MINUTES OF THE LAST MEETING
3 PETITIONS
4 PUBLIC QUESTION TIME
5 MEMBERS' QUESTION TIME
6 DECLARATIONS OF INTERESTS
7 MINERALS/WASTE RE18/02667/CON: Horse Hill Well Site, Horse Hill, Hookwood, Horley, Surrey, RH6 0HN
8 DATE OF NEXT MEETING
https://surreycc.public-i.tv/core/portal/webcast_interactive/440931?force_language_code=en_GB&fbclid=IwAR26yNJni4sgUrx37iby9OnhulQeV6af0yTQNP8R05Bt8vZ4czk_DNREEf0
This meeting webcast will begin:
Wednesday 11 September 2019 10.30am
We'll keep you updated about this webcast.
Subscribe!
https://surreycc.public-i.tv/core/portal/webcast_interactive/440931?force_language_code=en_GB&fbclid=IwAR26yNJni4sgUrx37iby9OnhulQeV6af0yTQNP8R05Bt8vZ4czk_DNREEf0
Previous RNS stated Rig to arrive by late summer....summer officially ends 23 September
"The successful production switch from Portland to Kimmeridge now paves the way for the expected late summer arrival of the rig and the HH-2/2z Portland horizontal drilling and testing campaign."
"Application be Permitted"
Following a successful appraisal stage, the applicant now wants to retain the wellsite for the
longer-term production of hydrocarbons.
It is necessary to consider the proposal against National and Development Plan polices and
assess the potential environmental impacts against those polices, the advice provided by
statutory and non-statutory consultees and the views expressed by other bodies, groups and
individuals.
A key issue is the need for the development. Government policy makes it clear that oil and gas
remains an important part of the UK’s energy mix. Energy policies recognise the continuing
importance of fossil fuels but aim to manage reliance on them, their potential environmental
effects and the risks associated with security of supply. While the Government manages the
transition to a low carbon energy mix this will mean that oil and gas remain key elements of the
energy system for years to come (especially for transport and heating). Government policy is set
out within the NPPF, the Annual Energy Statement, the Government’s Energy Security Strategy
Taking into account the need for the development in the context of national policy and other
relevant policy tests, Officers recommend that the application be permitted subject to
appropriate conditions to protect the environment and amenity.
The recommendation is to PERMIT subject to conditions.
https://mycouncil.surreycc.gov.uk/documents/g6651/Public%20reports%20pack%20Wednesday%2011-Sep-2019%2010.30%20Planning%20and%20Regulatory%20Committee.pdf?T=10
UK Oil & Gas PLC (LON:UKOG), the operator, announced that the Oil and Gas Authority has granted a two-year extension to the initial term of the PEDL143 (UKOG 67.5%, northern Weald, "A24" prospect) licence. The initial term will now end on 30 September 2022.
PEDL143 is located to the west of UKOG’s Horse Hill licences and contains the significant "A24" Portland and Kimmeridge oil prospect. Multiple potential drilling sites outside the nearby Area of Outstanding Natural Beauty are under evaluation and a drilling program will commence is due course, subject to the granting of the necessary regulatory approvals.
We reiterate our Buy recommendation and 39p target price.
Oliver O'Donnell, CFA, Natural Resources & China | T: +44 (0)20 3617 5180 | E: oodonnell@vsacapital.com
Samuel Green, Equity Analyst | T: +44 (0)20 3005 5010 | E: sgreen@vsacapital.com
#Indicates VSA house stock.
All disclosures and supporting charts can be found in the PDF version.
VSA Capital Research | T: +44 (0)20 3005 5000 | E: research@vsacapital.com
https://www.proactiveinvestors.co.uk/companies/news/901121/vsa-capital-market-movers---egdon-resources-901121.html
https://www.facebook.com/groups/336946440099862/permalink/716536538807515/
(Alliance News) - RiverFort Global Opportunities PLC on Monday said it will participate in the GBP5.5 million loan agreement announced by UK Oil & Gas PLC.
On Wednesday last week, UK Oil & Gas acquired a further 35% stake in its flagship Horse Hill oil discovery in the Weald Basin for GBP12 million, taking its interest to 86%.
UKOG agreed to buy Magellan Petroleum UK Investment Holdings Ltd from Tellurian Investments LLC for GBP12 million in a cash-and-shares deal.
Magellan holds a 35% stake in the Horse Hill discovery - including the PEDL137 and PEDL246 licences - which takes the UKOG interest to 86% in total. Most of the remainder is held by Alba Mineral Resources PLC, with a 12% stake.
On Monday, RiverFort said its participation in the loan is expected to be GBP700,000 and will be via a participation certificate issued by RiverFort Global Opportunities PCC Ltd.
Looking ahead, RiverFort said it continues to actively deploy its investment capital and has, in recent weeks, made additional investments totalling over GBP150,000.
Phillip Haydn-Slater, Non-Executive Chair said: "We are experiencing a continued strong demand for our investment funds and are confident that attractive investment opportunities will continue to present themselves to us."
RiverFort To Invest GBP700,000 In UK Oil & Gas For Magellan Purchase
(Alliance News) - RiverFort Global Opportunities PLC on Monday said it will participate in the GBP5.5 million loan agreement announced by UK Oil & Gas PLC.On Wednesday last week, UK Oil