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 1^st 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: [phone]

WH Ireland (Nominated Adviser and Broker)

James Joyce / Mark Leonard                                                                                      Tel: [phone]

Square 1 Consulting (Public Relations)

David Bick / Brian Alexander                                                                                      Tel: [phone]

.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.

 

END

 

 

MSCLLFLSRIISFIR