RCS - UK Oil & Gas PLC - PEDL234 Loxley gas discovery update

UK Oil & GasAnnouncement

06/02/2023 07:00

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RNS Number : 9449O  UK Oil & Gas PLC  06 February 2023

Reach

UK Oil & Gas PLC

("UKOG" or the "Company")

 

PEDL234 Loxley gas discovery update

 

UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that SGN
(southern England's gas distribution pipeline network operator) has confirmed
that their Local Transmission System ("LTS") can accept all the potential
future gas production from UKOG's 100%-owned Loxley gas discovery. SGN's
capacity thus provides a clear route to the wider gas market and the
monetisation of Loxley's gas.

SGN's network analysis demonstrates that the LTS can readily accept 34,500
cubic metres per hour (equivalent to 30 million cubic feet of gas per day),
corresponding to Loxley's high-side forecast field production rate. A pipeline
routeing study to the identified grid entry point can now commence.

 

 

For further information, please contact:

           UK Oil & Gas PLC
           Stephen Sanderson / Allen D Howard                              Tel: 01483 941493

           WH Ireland Ltd (Nominated Adviser and Broker)
           James Joyce / Andrew de Andrade                                 Tel: 020 7220 1666

           Communications
           Brian Alexander                                                 Tel: 01483 941493

 

 

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