REG - UK Oil & Gas Inv PLC - Update - Horse Hill

UK Oil & GasAnnouncement

23/03/2018 07:05

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: 01483 243450 
 
WH Ireland (Nominated Adviser and Broker)
James Joyce / James Sinclair-Ford                                                         Tel: 020 7220 1666
 
Cenkos Securities PLC (Joint Broker)
Joe Nally / Neil McDonald                                                                         Tel: 020 7397 8919
 
Public Relations
Brian Alexander / David Bick                                                                    Tel: 01483 243450
 
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.
 
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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