PEDL143 Holmwood Licence Extension

RNS Number : 2566C
UK Oil & Gas Investments PLC
27 June 2016
 

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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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