RNS Number : 6353E
UK Oil & Gas Investments PLC
09 May 2017

UK Oil & Gas Investments PLC



("UKOG" or the "Company")


Statement re Media Speculation


UKOG notes the recent media speculation regarding a proposed fundraise and can confirm that the Company is currently meeting with potential new institutional investors, to fund the Company's stated growth strategy, with a target of achieving significant stable oil production by the end of 2018.

The potential funding would be utilised to carry out the exploration and appraisal drilling plus long flow testing activities, which is expected to begin by the end of Q2 2017 on Broadford Bridge.

To fulfil this part of the  Company's strategy, this will require a fundraise of a minimum of £6.5 million. At this point, the pricing has not been finalised with any potential investors, but the Company expects pricing to be determined using typical market practices.

To date the Company has received positive feedback from its roadshow nonetheless there can be no assurance that the proposed placing will be successful. A further announcement will be made in due course.


For further information, please contact:


UK Oil & Gas Investments PLC

Stephen Sanderson / Kiran Morzaria                                                      Tel: 020 7440 0640


WH Ireland (Nominated Adviser and Broker)

James Joyce / James Bavister                                                                     Tel: 020 7220 1666


Cenkos Securities PLC (Joint Broker)

Nick Tulloch / Neil McDonald                                                                     Tel: 0131 220 6939


Square 1 Consulting (Public Relations)

Brian Alexander / David Bick                                                                      Tel: 020 7929 5599



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