REG - UK Oil & Gas PLC - 18-month Planning Extension Approved

UK Oil & GasAnnouncement

11/09/2018 16:25

RNS Number : 4634A
UK Oil & Gas PLC
11 September 2018
 


 
UK Oil & Gas PLC
("UKOG" or the "Company")
 
Regulatory Update: 18-month Planning Extension Approved,
Broadford Bridge-1 and 1z Kimmeridge Oil Discovery, Licence PEDL234, Weald Basin, UK
 
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that West Sussex County Council's Planning Committee have approved, by a significant majority vote, an 18-month extension to the existing planning permission covering its 100% owned and operated BB-1 and 1z Kimmeridge oil discovery, located in licence PEDL234. The planning extension, which will expire in March 2020, will provide the Company with the necessary time to complete its plans to re-enter the BB-1 well to drill and flow test a new Kimmeridge sidetrack, BB-1y.
 
Drilling of the BB-1y sidetrack well is planned to directly follow the drilling of the new 2019 Kimmeridge exploratory and overlying Portland gas appraisal well in the basin-centre area of PEDL234, a planning application for which is expected to be submitted this Autumn. The drilling of the sidetrack and new PEDL234 well are subject to the grant of necessary regulatory consents.
 
Qualified Person's Statement
 
Rob Wallace, UKOG's principal technical advisor, who has over 40 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Wallace is a Chartered Scientist, Chartered Geologist and Fellow of the Geological Society of London, an active member of the American Association of Petroleum Geologists, a member of the Petroleum Exploration Society of Great Britain and a member of the South African Geophysical Society.
 
For further information, please contact:
 
UK Oil & Gas 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
 
Novum Securities                                                                                                           
John Bellis                                                                                                                          Tel: 020 7399 9400
 
(Joint Broker) Public Relations
Brian Alexander / David Bick                                                                      Tel: 01483 243450
 
 
UKOG Licence Interests
 
The Company has interests in the following UK licences:
 



Asset


Licence


UKOG Interest


Licence Holder


Operator


Area (km2)


Status




Avington 1


PEDL070


5%


UKOG (GB) Limited


IGas Energy Plc


18.3


Field currently shut in




Broadford Bridge 3


PEDL234


100%


UKOG (234) Ltd 4


UKOG (234) Ltd 4


300.0


BB-1 & 1z oil discovery, Planning extension granted, new planning application for further exploratory well planned in Autumn




Holmwood 3


PEDL143


40%


UKOG


Europa Oil & Gas (Holdings) plc


91.8


Seeking alternate sites to drill Holmwood and other Portland & Kimmeridge prospects




Horndean 1


PL211


10%


UKOG (GB) Limited


IGas Energy Plc


27.3


Field in stable production




Horse Hill 5


PEDL137


46.735%


Horse Hill Developments Ltd ⁶


Horse Hill Developments Ltd ⁶


99.3


Portland EWT completed successfully, KL3 & KL4 EWT to commence, 2 further appraisal wells scheduled for Q4 2018/Q1 2019




Horse Hill 5


PEDL246


46.735%


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 planning submission  for Arreton-3 Portland oil appraisal well & Arreton S. look-alike exploration well 




Markwells Wood 2


PEDL126


100%


UKOG (GB) Limited


UKOG (GB) Limited


11.2


Revised Kimmeridge test 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. PEDL234 contains the Broadford Bridge-1 and 1z

    oil discovery well, the extension of the Godley Bridge Portland gas discovery plus further exploration

     prospects.
4.  UKOG has a 100% interest in UKOG (234) Ltd, which has a 100% interest in PEDL234.
5.  Oil discovery in 3 zones, EWT ongoing, two further wells HH-1z and HH-2 planned  end 2018/early 2019
6.  UKOG has a direct 71.9% 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.
 




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