REG - UK Oil & Gas PLC - Turkey: Pinarova-1 drilling update

UK Oil & GasAnnouncement

06/03/2023 07:00

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RNS Number : 9095R  UK Oil & Gas PLC  06 March 2023

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Turkey: Pinarova-1 drilling update

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that further to
its Pinarova-1 release of 1(st) March 2023, the Company is now in possession
of Turkey's General Directorate of Mining & Petroleum Affairs' ("GDMPA")
formal written consent covering the Pinarova-1 exploration well's geological
and technical objectives and design. As is customary, GDMPA request that they
must receive a notice of intended "spud" date five days before actual drilling
commencement, still currently expected to be around the end of March or early
April 2023. UKOG holds a 50% non-operated interest in Pinarova-1 and the
surrounding 305 km² Resan licence, which also includes the Basur-1 light oil
discovery.

 

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 / Allen D Howard                        Tel: 01483 941493

     WH Ireland Ltd (Nominated Adviser and Broker)
     James Joyce / James Bavister / 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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