Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksUk Oil & Gas Regulatory News (UKOG)

Share Price Information for Uk Oil & Gas (UKOG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.065
Bid: 0.06
Ask: 0.07
Change: 0.00 (0.00%)
Spread: 0.01 (16.667%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 0.065
UKOG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Horse Hill Equipment Purchase Completed

16 Jul 2020 16:35

RNS Number : 2674T
UK Oil & Gas PLC
16 July 2020
 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Horse Hill Equipment Purchase Completed

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that, per the announcement of 4 June 2020, it has completed the purchase of the Horse Hill surface production equipment ("Equipment") from PW Well Test Ltd ("PW"). Full title to the Equipment has now transferred to UKOG.

 

Transaction Summary

 

The Company acquired the Equipment from PW for £1.65 million via three equal instalments of £550,000 as follows:

 

- Initial instalment payable upon signature of the asset purchase agreement via equal amounts of cash and UKOG shares. 

- Two further instalments at 6-monthly intervals, or earlier at UKOG's discretion. Each payment either wholly in cash, or wholly in shares, or part cash/part shares, each at UKOG's sole discretion.

- In the case of payment via shares, the number of shares issued to PW shall be determined using the 5-day volume weighted average price ("VWAP") of UKOG ordinary shares on the day prior to the instalment payment date.

The initial payment of £550,000 has now been made to PW, comprising £275,000 in cash and £275,000 via the issue of 131,014,769 UKOG shares ("Consideration Shares") at 0.2099p per share, representing the 5-day VWAP at market close on 7th July, the day prior to the completion date.

 

Share Admission and Settlement

 

 

Application will be made for the Consideration Shares to be admitted to trading on the AIM market ("AIM") of London Stock Exchange plc ("LSE") of the shares ("Admission"). Admission is expected to occur on or around 20 July 2020. Following Admission, the Company will have 11,099,385,057 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 11,099,385,057 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

 

For further information, please contact:

 

UK Oil & Gas PLC

 

Stephen Sanderson / Kiran Morzaria

 

Tel: 01483 941493

WH Ireland Ltd (Nominated Adviser and Broker)

 

 

 

James Joyce / James Sinclair-Ford

 

Tel: 020 7220 1666

Cenkos Securities PLC (Joint Broker)

 

Joe Nally / Neil McDonald

 

Tel: 020 7397 8919

Novum Securities (Joint Broker)

 

John Belliss

 

Tel: 020 7399 9400

Communications

 

Brian Alexander

Tel: 01483 941493

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCEQLFFBDLXBBL
Date   Source Headline
27th Mar 20247:00 amRNSLoxley Gas Project Update
19th Mar 20245:00 pmRNSBroadford Bridge Planning Update
13th Mar 20249:29 amRNSLoan Reduction via Equity Share Subscription
5th Mar 20243:28 pmRNSResult of Reconvened General Meeting
1st Mar 20247:00 amRNSRevised Timetable for Capital Restructuring
23rd Feb 20241:01 pmRNSNotice of General Meeting Resumption
22nd Feb 20244:37 pmRNSEmployee Benefit Trust Share Subscription
16th Feb 20241:54 pmRNSGeneral Meeting Adjournment
2nd Feb 20242:08 pmRNSPinarova-1 Testing Operations Update
1st Feb 20241:53 pmRNSProposed Capital Reorganisation
23rd Jan 20243:48 pmRNSLoan Balance Reduction via Equity Share Issue
23rd Jan 20247:00 amRNSPinarova-1 Testing Operations Commence
12th Jan 20247:00 amRNSSuccessful Placing
11th Jan 20247:00 amRNSTurkey: Pinarova-1 Testing
10th Jan 202411:39 amRNSEquity Share Issue and Reduction in Loan Balance
9th Jan 20242:00 pmRNSCourt of Appeal Upholds Loxley Planning Consent
3rd Jan 20241:04 pmRNSTurkey: Pinarova-1 Operations Re-Commence
15th Dec 20237:00 amRNSTurkey: Pinarova-1 Testing Update
12th Dec 20237:00 amRNSHorse Hill Work Programme Extended by NSTA
11th Dec 20237:00 amRNSHorse Hill Farmin Update
8th Dec 20237:00 amRNSHorse Hill Developments Update
21st Nov 20237:00 amRNSTurkey: Pinarova-1 Testing Latest
3rd Nov 202312:13 pmRNSEquity Share Issue
13th Oct 20237:00 amRNSTurkey: Pinarova-1 Testing Update
22nd Sep 20237:00 amRNSTurkey: Pinarova-1 Testing Update
3rd Aug 20238:01 amRNSLoxley High Court Update
20th Jul 202310:44 amRNSHigh Court upholds Loxley Planning Consent
13th Jul 20237:00 amRNSAvington Oil Production to Restart
28th Jun 20237:00 amRNS£3 million funding facility
26th Jun 20232:13 pmRNSUnaudited results six-month ended 31 March 2023
21st Jun 20237:00 amRNSHorse Hill Update
8th Jun 20237:00 amRNSLoxley High Court hearing
23rd May 20239:06 amRNSTurkey: Pinarova-1 Testing Update
5th May 202312:12 pmRNSResult of Annual General Meeting
3rd May 20237:00 amRNSTurkey: Pinarova-1 Update
25th Apr 202312:30 pmRNSHolding(s) in Company
25th Apr 202312:13 pmRNSTurkey: Pinarova-1 drilling ahead
24th Apr 20237:00 amRNSHolding(s) in Company
21st Apr 20238:40 amRNSTurkey: Pinarova-1 oil shows & testing
18th Apr 202311:51 amRNSTurkey: Pinarova-1 casing set
13th Apr 202312:56 pmRNSHolding(s) in Company
13th Apr 20239:39 amRNSTurkey: Pinarova-1 reaches first casing point
11th Apr 20237:05 amRNSNotice of Annual General Meeting
11th Apr 20237:00 amRNSTurkey: Pinarova-1 drilling commences
5th Apr 20234:51 pmRNSHolding(s) in Company
3rd Apr 20237:00 amRNS2022 Annual Report and Accounts
31st Mar 20234:44 pmRNSAnnual Accounts for year ended 30 September 2022
31st Mar 20237:00 amRNSTurkey: Pinarova-1 construction completed
30th Mar 20231:44 pmRNSHolding(s) in Company
28th Mar 20237:37 amRNSHorse Hill Farmout

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.