REG - UK Oil & Gas PLC - Environment Agency grants full Horse Hill Permit

UK Oil & GasAnnouncement

05/05/2022 07:01

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RNS Number : 3542K  UK Oil & Gas PLC  05 May 2022

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Environment Agency grants full Horse Hill Production Permit

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the
Environment Agency ("EA") has granted UKOG's 85.635% owned Horse Hill oil
field a full Production Permit ("PP"). The  PP enables production and water
re-injection operations, incineration of waste gas, maintenance/workovers and
the drilling of further development wells. To date, production at Horse Hill
has operated under the umbrella of prior testing consents which excluded any
ability to reinject produced saline formation water.

UKOG can now proceed ahead with its plans to convert Horse Hill-2z into a
water injector during 2022, which, if implemented, would remove the need for
costly transportation and disposal of produced saline formation water at
remote third-party sites. The initial application for the PP was submitted to
the EA 31 months ago on 24 September 2019.

Following the PP grant a review of the viability of reinstating Kimmeridge
production and further new Portland infill drilling locations are now under
way.

Stephen Sanderson UKOG's CEO commented:

 

"This long-awaited EA permit finally enables UKOG to return Horse Hill's
produced saline formation water back to the oil-bearing Portland rocks where
it originated, lowering operating costs per barrel, removing HGV tankers from
congested roads and reducing the field's overall carbon footprint. The ability
to reinject makes both environmental and economic good sense."

 

Qualified Person's Statement

 

Matt Cartwright, UKOG's Commercial Director, who has 39 years of relevant
experience in the global oil industry, has approved the information contained
in this announcement. Mr Cartwright is a Chartered Engineer and member of the
Society of Petroleum Engineers.

 

 

For further information, please contact:

 

   UK Oil & Gas PLC
   Stephen Sanderson / Matt Gormley / 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

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the “UK MAR”) which is part of
UK law by virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company’s obligations under Article 17
of the UK MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

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