UK Oil & Gas plc (UKOG) has raised approximately £5 million through a placing of 2,763,888,878 new ordinary shares (placing shares). The placing’s issue price of 0.18 pence per share represents approximately a 22% discount to the closing price of the company’s ordinary shares on 01 July 2021, the business day prior to the placing’s […]
Tag: UK Oil & Gas plc (UKOG)
UKOG starts drilling Basur-3 appraisal well
UK Oil & Gas plc (UKOG) said it had marked a milestone with the start of air drilling at the Basur-3 appraisal oil well in the 305 km² Resan licence, Turkey. On 26 June, operations began on the initial 17.5 inch diameter hole section, following which a 13⅝ inch casing is expected to be set. […]
UKOG given more time to drill Loxley-1
UK Oil & Gas plc (UKOG) said that it has been granted a two-year extension in which to start drilling the PEDL234 Loxley-1 gas appraisal well in the Weald Basin. The Oil and Gas Authority (OGA) said that UKOG must now begin drilling at the company’s 100% interest project before 31 December 2023. UKOG added that […]
UKOG seeks environmental permit for well site on Isle of Wight
UK Oil and Gas plc (UKOG) has applied for an environmental permit to explore a proposed new oil well site in Arreton on the Isle of Wight. If permission is granted, the company aims to operate for three years and to drill an exploratory borehole and one side-track borehole. The wider area has the appearance […]
Alba to cut oil interests as losses rise
Alba Mineral Resources plc sid it planned to cut its onshore oil interests to focus on Clogau-St David’s gold mine in North Wales. HORSE HILL Results for year ended 30 November 2020 showed losses of £2,079,537 (2019: £1,312,40) while cash and equivalents increased to £1,512,031 (£211,333). Alba plans to reduce its investment in Horse Hill […]
UKOG looks to diversify after swing to a loss
UK Oil & Gas plc incurred heavy losses due to lost time, extra operational work and relinquishment of a licence from its onshore operations in the South of England. The company also announced its aim to diversify into geothermal and renewable energy and add international sites, with easier regulatory requirements than the UK, to its […]