Last checked at 15 Jun 2015 07:00
15 June 2015
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
Offshore Isle of Wight Licence Extension
UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that the Offshore Isle of Wight licence (P1916, UKOG 77.5% and operator) has been extended for a further year by the Oil & Gas Authority ("OGA", formerly the Department of Energy and Climate Change).
The P1916 initial period of the exploration stage has been extended to 31 January 2017.
The extension provides the Company with the necessary time to finalise drilling plans, and obtain regulatory permissions in order to drill the M prospect, located primarily in P1916, during the licence's initial period for exploration.
Stephen Sanderson, UKOG's CEO commented:
"The licence extension will greatly facilitate our current efforts towards drilling this exciting prospect."
For further information please contact:
UK Oil & Gas Investments PLC
David Lenigas / Donald Strang Tel: 020 7440 0640
WH Ireland (Nominated Adviser and Broker)
James Joyce / Mark Leonard Tel: 020 7220 1666
Square 1 Consulting (Public Relations)
David Bick / Mark Longson Tel: 020 7929 5599