UK Oil & Gas plc has issued a further 228,215,768 equity shares to repay £55,000 of the 2023 loan from RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. The loan’s principal balance is now £370,000 of the £2 million gross first cash sum received by the company. Following admission, UKOG’s total voting rights […]
Tag: UK Oil & Gas plc (UKOG)
UKOG appoints adviser for Loxley farm-out
UK Oil & Gas plc has appointed specialist adviser Envoi Ltd for the farm-out of up to 50% of the Loxley gas and hydrogen feedstock project. COSTS The farm-out aims to have the planned Loxley-1 appraisal drilling and testing programme carried by the future partner or partners. UKOG said that there were also separate “active […]
UKOG further reduces loan with 200m shares issue
UK Oil & Gas plc has reduced its 2023 loan by issuing 200 million ordinary shares to lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. Conversion of the equity shares will further reduce the current £545,000 principal balance of the £2m gross first cash sum received. UKOG said that the reduction in […]
UKOG granted one year extension for Loxley
UK Oil & Gas plc has been granted a one-year extension to its Loxley gas licence by the North Sea Transition Authority. The company must begin drilling the Loxley-1 appraisal well on PEDL234 retention area work programme no later than 30 June 2025. The deadline allows the company to retain the full 300 km² licence without […]
UKOG refused more time for Broadford Bridge
UK Oil & Gas plc has been refused more time to assess its Broadford Bridge project in Sussex. PERIPHERAL West Sussex County Council extended planning permission in 2022 for PEDL234 up to 31 March 2024, but today rejected a further two years. UKOG has six months to appeal although it said the “envisaged geothermal scheme” […]
UKOG employee benefit trust subscribes for 3bn shares
UK Oil & Gas plc employee benefit trust (EBT) today subscribed for 3,005,000,000 ordinary shares in the company to return the EBT ordinary shareholding to its original 10% of the issued share capital. The company signed a loan agreement with EBT trustees Alum Trustees Ltd to fund the subscription, at a price per share of £0.0001, […]