UK Oil & Gas plc (UKOG) said it could face an appeal in the Supreme Court against the company’s grant for oil production at Horse Hill near Gatwick in Surrey. HEARING The company added that it would “strongly contest” any further action against its interests which total 85.635%. Alba Mineral Resources plc holds an 11.765% […]
Tag: UK Oil & Gas plc (UKOG)
UK Oil & Gas CEO buys further shares in company
UK Oil & Gas plc’s chief executive Steve Sanderson has further increased his share in the company. SHARE PURCHASE PROGRAMME On 25 July, Mr Sanderson bought 942,507 shares in the company at 10.6p each for £99,999. The latest purchase follows a similar move in December 2021, when he purchased 985,221 ordinary shares in the company […]
UKOG raises £1.25m via discounted placing
UK Oil & Gas plc (UKOG) has raised gross proceeds of £1.25 million via a discounted placing of 1,428,571,428 new ordinary shares at 0.0875 pence per share. PLACING The company said that the placing price represented a discount of approximately 27% to the closing price of 0.12 pence per ordinary share on 26 July 2022. […]
UKOG to farm out Loxley appraisal well
UK Oil & Gas plc will conduct a pre-planned farm-out programme for the Loxley gas appraisal project in Surrey. PRUDENT UKOG added that the farm-out for PEDL234 would see the prospective partner carry either all or part of the costs. “The company believes that this is the most prudent course of action to both manage […]
UKOG to raise further funds for Basur-1 seismic
UK Oil & Gas plc (UKOG) said it would need to raise further funds for its joint venture (JV) partner to shoot further unbudgeted seismic at the the Basur-1 oil discovery on the Resan licence in Türkiye. FINANCES UKOG added that a longer-than-expected seismic acquisition period over winter had also required additional previously unbudgeted working […]
UKOG appeal approved for Loxley
UK Oil & Gas plc (UKOG) has received approval on appeal to the Government for its Loxley gas and hydrogen feedstock project in Surrey. APPEAL The county council has twice refused the application on PEDL234, which led the company to appeal to the secretary of state for levelling up, housing and communities. In January 2022, […]