Offshore Isle of Wight Licence Extension

RNS Number : 1049Q

UK Oil & Gas Investments PLC

15 June 2015

 

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: [phone]

WH Ireland (Nominated Adviser and Broker)

James Joyce / Mark Leonard                                                                       Tel: [phone]

Square 1 Consulting (Public Relations)

David Bick / Mark Longson                                                                           Tel: [phone]

 

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