“It is now evident that, in the success case, the Basur-Resan appraisal
project has the potential to surpass the recoverable oil and gas volumes
currently assigned by Xodus to our material UK Arreton and Loxley
appraisal projects. It also has the advantage of lower drilling and
operating costs and, facilitated by Turkish petroleum law, the possibility
to rapidly monetise the success case within a year. For these reasons
success could be transformational for the Company.
UKOG United 2p/5p
Operational focus is on the UK and Turkey onshore sectors, where we aim to build a sustainable oil & gas production base that can act as a springboard to further worldwide opportunities.
We are the largest acreage holder in the south of England, with assets covering 689 gross km².
We hold majority interests in four UK onshore oil & gas discoveries, the most notable being at Horse Hill and Loxley in Surrey.
Our expanding portfolio in Turkey consists of a 50% non-operated working interest in the 305 km² Resan licence in south east Turkey, containing the potentially significant undeveloped Basur-Resan oil discovery.
Ukog united 2p/5p
Back at support, rsi oversold, bounce is on its way..
https://www.tradingview.com/x/hJb5EKu2/