Update - Horse Hill

RNS Number : 6852I

UK Oil & Gas Investments PLC

23 March 2018

 

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Planning Pre-Conditions Discharged for Further Flow Testing and Drilling

Horse Hill Oil Discovery, Weald Basin, UK

UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has been informed by Horse Hill Developments Ltd ("HHDL"), the operator of Horse Hill licences PEDL137 and PEDL246, containing the Horse Hill-1 ("HH-1") oil discovery, that it has now received final decision notices from Surrey County Council ("SCC"), discharging all of the pre-commencement conditions.

This follows the planning approval in November 2017 by SCC's Planning and Regulatory Committee to enable HHDL to carry out extended flow tests at HH-1, plus drill and test both a sidetrack from the existing HH-1 well and new well Horse Hill-2. 

HHDL has received the necessary permission from the Environment Agency and is now awaiting approval from the Oil and Gas Authority.

For further information, please contact:

UK Oil & Gas Investments PLC

Stephen Sanderson / Kiran Morzaria                                                    Tel: [phone] 

WH Ireland (Nominated Adviser and Broker)

James Joyce / James Sinclair-Ford                                                         Tel: [phone]

Cenkos Securities PLC (Joint Broker)

Joe Nally / Neil McDonald                                                                         Tel: [phone]

Public Relations

Brian Alexander / David Bick                                                                    Tel: [phone]

UKOG Licence Interests

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	Appraisal/development well planned; licence extended to 2018
Broadford Bridge 3	PEDL234	100%	Kimmeridge Oil & Gas Limited 4	Kimmeridge Oil & Gas Limited 4	300.0	BB-1/1z drilling and testing of multiple zones completed
Holmwood 3	PEDL143	40%	UKOG	Europa Oil & Gas (Holdings) plc	91.8	Holmwood-1 exploration well planned in 2018
Horndean 1	PL211	10%	UKOG (GB) Limited	IGas Energy Plc	27.3	Field in stable production
Horse Hill 5	PEDL137	32.435%	Horse Hill Developments Ltd ⁶	Horse Hill Developments Ltd ⁶	99.3	Production tests and further appraisal well(s) scheduled for 2018
Horse Hill 5	PEDL246	32.435%	Horse Hill Developments Ltd⁶	Horse Hill Developments Ltd ⁶	43.6	As above
Isle of Wight (Onshore) 2, 3	PEDL331	65%	UKOG	UKOG	200.0	Preparing Arreton-3 oil discovery appraisal well planning submission
Markwells Wood 2	PEDL126	100%	UKOG (GB) Limited	UKOG (GB) Limited	11.2	Revised drilling and testing planning application underway

Notes:

1. Oil field currently in production.

2. Oil discovery pending development and/or appraisal drilling.

3. Exploration asset with drillable prospects and leads. Contains the extension of the Godley Bridge Portland gas discovery and the site of the Broadford Bridge-1/1z well.

4. UKOG has a 100% interest in Kimmeridge Oil & Gas Limited, which has a 100% interest in PEDL234.

5. Oil discovery with recently completed flow testing.

6. UKOG has a direct 49.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

END

 

 

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