UK Oil & Gas Investments PLC
("UKOG" or the "Company")
Planning Pre-Conditions Discharged for Further Flow Testing and Drilling
Horse Hill Oil Discovery, Weald Basin, UK
UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has been informed by Horse Hill Developments Ltd ("HHDL"), the operator of Horse Hill licences PEDL137 and PEDL246, containing the Horse Hill-1 ("HH-1") oil discovery, that it has now received final decision notices from Surrey County Council ("SCC"), discharging all of the pre-commencement conditions.
This follows the planning approval in November 2017 by SCC's Planning and Regulatory Committee to enable HHDL to carry out extended flow tests at HH-1, plus drill and test both a sidetrack from the existing HH-1 well and new well Horse Hill-2.
HHDL has received the necessary permission from the Environment Agency and is now awaiting approval from the Oil and Gas Authority.
For further information, please contact:
UK Oil & Gas Investments 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
Public Relations
Brian Alexander / David Bick Tel: 01483 243450
UKOG Licence Interests
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 |
Appraisal/development well planned; licence extended to 2018 |
|
Broadford Bridge 3 |
PEDL234 |
100% |
Kimmeridge Oil & Gas Limited 4 |
Kimmeridge Oil & Gas Limited 4 |
300.0 |
BB-1/1z drilling and testing of multiple zones completed |
|
Holmwood 3 |
PEDL143 |
40% |
UKOG |
Europa Oil & Gas (Holdings) plc |
91.8 |
Holmwood-1 exploration well planned in 2018 |
|
Horndean 1 |
PL211 |
10% |
UKOG (GB) Limited |
IGas Energy Plc |
27.3 |
Field in stable production |
|
Horse Hill 5 |
PEDL137 |
32.435% |
Horse Hill Developments Ltd ⁶ |
Horse Hill Developments Ltd ⁶ |
99.3 |
Production tests and further appraisal well(s) scheduled for 2018 |
|
Horse Hill 5 |
PEDL246 |
32.435% |
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 Arreton-3 oil discovery appraisal well planning submission |
|
Markwells Wood 2 |
PEDL126 |
100% |
UKOG (GB) Limited |
UKOG (GB) Limited |
11.2 |
Revised drilling and testing 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. Contains the extension of the Godley Bridge Portland gas discovery and the site of the Broadford Bridge-1/1z well.
4. UKOG has a 100% interest in Kimmeridge Oil & Gas Limited, which has a 100% interest in PEDL234.
5. Oil discovery with recently completed flow testing.
6. UKOG has a direct 49.9% 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.