Horse Hill Developments Update

UK Oil & Gas PLC

08 December 2023

 

UK Oil & Gas PLC

("UKOG" or the "Company")

Horse Hill Developments Update

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the continued profitability of the Horse Hill oil field has enabled the field's operator, Horse Hill Developments Limited ("HHDL"), to make a payment of approximately £675,000 to the Company today, representing partial repayment of certain historic shareholder loans. The Company holds an effective 85.635% interest in the field and surrounding PEDL137 licence and a 77.9% direct shareholding in HHDL.

For further information, please contact:

UK Oil & Gas plc

Stephen Sanderson / Allen D Howard                                                                                     Tel: [phone]

WH Ireland Ltd (Nominated Adviser and Broker)                                                            

James Joyce / Andrew de Andrade / James Bavister                                                            Tel: [phone]

Communications

Brian Alexander                                                                                                                            Tel: [phone]  

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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