UK Oil & Gas Investments PLC
("UKOG" or the "Company")
PEDL143 Holmwood Licence Extension, Kimmeridge and Portland Region, Weald Basin
UK Oil & Gas Investments PLC (LSE AIM: UKOG) is pleased to announce that Europa Oil and Gas (Holdings) plc ("Europa") has today announced that the Oil and Gas Authority ("OGA") has granted a two-year extension to the Initial Term of the PEDL143 Licence, which will now end on 1st October 2018. UKOG holds a 30% interest in PEDL143, located immediately to the west of the Horse Hill licence PEDL137. The Licence contains look-alike potential to Horse Hill in the Kimmeridge and Portland sections which will be tested by the Holmwood-1 well planned for winter 2017.
Stephen Sanderson, UKOG's Executive Chairman, commented:
"The forthcoming Holmwood-1 well is a key part of the Company's near term strategy to push the Kimmeridge Limestone play forwards. The extension is very welcome."
Qualified Person's Statement:
Stephen Sanderson, UKOG's Executive Chairman, who has over 35 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Sanderson is a Fellow of the Geological Society of London and is an active member of the American Association of Petroleum Geologists.
For further information, please contact:
UK Oil & Gas Investments PLC
Stephen Sanderson / Jason Berry Tel: 020 7440 0640
WH Ireland (Nominated Adviser and Broker)
James Joyce / Mark Leonard Tel: 020 7220 1666
Square 1 Consulting (Public Relations)
David Bick / Brian Alexander Tel: 020 7929 5599
.Notes to Editors:
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 |
Reviewing economics of appraisal/ development well. |
|
Broadford Bridge |
PEDL234 |
100% |
Kimmeridge Oil and Gas Limited |
Kimmeridge Oil and Gas Limited |
300.0 |
BB-1 well permitted expected 2017 spud date. |
|
Brockham 1 |
PL235 |
3.6% |
Angus Energy 5 |
Angus Energy 5 |
8.9 |
Drilling of sidetrack well being considered. |
|
Holmwood 3 |
PEDL143 |
30% |
UKOG |
Europa Oil & Gas (Holdings) plc |
91.8 |
H-1 exploration commitment well planned. |
|
Horndean 1 |
PL211 |
10% |
UKOG (GB) Limited |
IGas Energy Plc |
27.3 |
Field in stable production. |
|
Horse Hill 4 |
PEDL137 |
27.3% |
Horse Hill Developments Ltd 6 |
Horse Hill Developments Ltd 6 |
99.3 |
Extended flow testing of HH-1. |
|
Horse Hill 4 |
PEDL246 |
27.3% |
Horse Hill Developments Ltd 6 |
Horse Hill Developments Ltd 6 |
43.6 |
Extended flow testing of HH-1. |
|
Isle of Wight (Offshore) 3 |
P1916 |
100% |
UKOG Solent Limited |
UKOG Solent Limited |
46.7 |
Preparing drilling planning submission. |
|
Isle of Wight (Onshore) 2, 3 |
PEDL331 |
65% |
UKOG |
TBA |
200.0 |
Preparing drilling planning submission. |
|
Lidsey 1 |
PL241 |
4.2% |
Angus Energy 5 |
Angus Energy 5 |
5.3 |
Drilling of infill well being considered. |
|
Markwells Wood 2 |
PEDL126 |
100% |
UKOG (GB) Limited |
UKOG (GB) Limited |
11.2 |
Compiling Field Development Plan. |
Notes:
1. Oil field currently in production.
2. Oil discovery pending development and/or appraisal drilling.
3. Exploration asset with drillable prospects and leads.
4. Oil discovery with recently completed flow testing.
5. UKOG has a 6% interest in Angus Energy, which has a 70% interest in Lidsey and a 60% interest in Brockham.
6. UKOG has a direct 42% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.