Last checked at 27 Jun 2016 07:00
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
PEDL143 Holmwood Licence Extension, Kimmeridge and Portland Region, Weald Basin
UK Oil & Gas Investments PLC (LSE AIM: UKOG) is pleased to announce that Europa Oil and Gas (Holdings) plc ("Europa") has today announced that the Oil and Gas Authority ("OGA") has granted a two-year extension to the Initial Term of the PEDL143 Licence, which will now end on 1st October 2018. UKOG holds a 30% interest in PEDL143, located immediately to the west of the Horse Hill licence PEDL137. The Licence contains look-alike potential to Horse Hill in the Kimmeridge and Portland sections which will be tested by the Holmwood-1 well planned for winter 2017.
Stephen Sanderson, UKOG's Executive Chairman, commented:
"The forthcoming Holmwood-1 well is a key part of the Company's near term strategy to push the Kimmeridge Limestone play forwards. The extension is very welcome."
Qualified Person's Statement:
Stephen Sanderson, UKOG's Executive Chairman, who has over 35 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Sanderson is a Fellow of the Geological Society of London and is an active member of the American Association of Petroleum Geologists.
For further information, please contact:
UK Oil & Gas Investments PLC
Stephen Sanderson / Jason Berry 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 / Brian Alexander Tel: 020 7929 5599
.Notes to Editors:
The Company has interests in the following UK licences:
Asset | Licence | UKOG's Interest | Licence Holder | Operator | Area (km2) | Status |
Avington 1 | PEDL070 | 5% | UKOG (GB) Limited | IGas Energy Plc | 18.3 | Field in stable production. |
Baxters Copse 2 | PEDL233 | 50% | UKOG Weald Limited | IGas Energy Plc | 89.6 | Reviewing economics of appraisal/ development well. |
Broadford Bridge | PEDL234 | 100% | Kimmeridge Oil and Gas Limited | Kimmeridge Oil and Gas Limited | 300.0 | BB-1 well permitted expected 2017 spud date. |
Brockham 1 | PL235 | 3.6% | Angus Energy 5 | Angus Energy 5 | 8.9 | Drilling of sidetrack well being considered. |
Holmwood 3 | PEDL143 | 30% | UKOG | Europa Oil & Gas (Holdings) plc | 91.8 | H-1 exploration commitment well planned. |
Horndean 1 | PL211 | 10% | UKOG (GB) Limited | IGas Energy Plc | 27.3 | Field in stable production. |
Horse Hill 4 | PEDL137 | 27.3% | Horse Hill Developments Ltd 6 | Horse Hill Developments Ltd 6 | 99.3 | Extended flow testing of HH-1. |
Horse Hill 4 | PEDL246 | 27.3% | Horse Hill Developments Ltd 6 | Horse Hill Developments Ltd 6 | 43.6 | Extended flow testing of HH-1. |
Isle of Wight (Offshore) 3 | P1916 | 100% | UKOG Solent Limited | UKOG Solent Limited | 46.7 | Preparing drilling planning submission. |
Isle of Wight (Onshore) 2, 3 | PEDL331 | 65% | UKOG | TBA | 200.0 | Preparing drilling planning submission. |
Lidsey 1 | PL241 | 4.2% | Angus Energy 5 | Angus Energy 5 | 5.3 | Drilling of infill well being considered. |
Markwells Wood 2 | PEDL126 | 100% | UKOG (GB) Limited | UKOG (GB) Limited | 11.2 | Compiling Field Development Plan. |
Notes:
1. Oil field currently in production.
2. Oil discovery pending development and/or appraisal drilling.
3. Exploration asset with drillable prospects and leads.
4. Oil discovery with recently completed flow testing.
5. UKOG has a 6% interest in Angus Energy, which has a 70% interest in Lidsey and a 60% interest in Brockham.
6. UKOG has a direct 42% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.