UK Oil & Gas plc posted a fall in revenue following a decrease in oil production from Horse Hill within PEDL137 and PEDL246 near Gatwick Airport, Surrey. LICENCE Results from six months to 31 March, showed revenue fall to £600,000 while group operating loss decreased to £1 million compared with £1.3m for six months to […]
Tag: Pennpetro Energy plc
UKOG granted more time for Horse Hill work
UK Oil & Gas plc has been granted more time for the retention area work programme containing the Horse Hill oil field in Surrey. PRODUCTION WELL The North Sea Transition Authority consented to the extension within PEDL137, under which lies the Kimmeridge oil pool, to 30 September 2025. NSTA last granted UKOG an extension in May […]
Alba notes Horse Hill term sheet extension needs shareholders’ support
UK Oil & Gas plc (UKOG) and its potential farm-in partner have agreed to extend the conditional binding Horse Hill term sheet allegedly without all shareholders’ approval. CONSENTS UKOG and Pennpetro Energy plc extended the deal, signed originally in March, to 30 June 2024. Pennpetro will farm-in to the Horse Hill Oil Field on an […]
UKOG signs conditional farm-in for Horse Hill
UK Oil & Gas plc (UKOG) has signed a conditional binding term sheet for a farm-in with Pennpetro Energy plc for the Horse Hill oil field, 2km north of Gatwick airport in Sussex. PARTNERS The transaction, with the company’s subsidiaries UKOG Ltd (85.635%) and Horse Hill Developments Ltd (HHDL) (77.9%), will be on an incremental […]