Finance News Oil & Gas

UKOG raises £5m via placing

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 […]

News Oil & Gas

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 […]

News Oil & Gas

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 […]