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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 […]

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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 […]

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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” […]

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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, […]