Finance News Oil & Gas

UKOG raises £750,000 via 3.7bn share placing

UK Oil & Gas plc (UKOG) raised gross £750,000 via a placing of 3,750,000,000 new ordinary shares at a price of 0.02 pence per share. The placing price represents a 20% discount to the closing price of 0.0250 pence per ordinary share on 11 January 2024, and 13% of the enlarged issued share capital. CMC Markets […]

Finance News Oil & Gas

UKOG issues third tranche of shares for loan

UK Oil & Gas plc (UKOG) issued the third tranche of shares, relating to last year’s first investment sum of £2 million, to RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. UKOG said that the first three tranches of equity shares had now been converted at the investors’ discretion to repay the loan, […]

Legal News Oil & Gas

UKOG welcomes ruling to stop appeals against Loxley

UK Oil & Gas plc (UKOG) said the Court of Appeal had refused permission for any further appeal against the grant of planning permission for the Loxley conventional gas and hydrogen feedstock project. ORDERS Today’s decision is final and cannot be further reviewed or appealed. “Consequently, Loxley’s planning permission will now remain in full force and effect […]

Equipment & Logistics News Oil & Gas

UKOG starts preparations at Pinarova-1 well site

UK Oil & Gas plc reported the start of preparations, with access and well pad strengthening and repair, at the Pinarova-1 oil well site in Turkey. PERMITS The service provider PSI’s wireline equipment and operator partner Aladdin Middle East’s swab testing unit will then follow. In December 2023, the 50-50 joint venture received the required […]

News Oil & Gas

UKOG granted more time for Horse Hill work

UK Oil & Gas plc has been granted more time for the retention area work programme containing the Horse Hill oil field in Surrey. PRODUCTION WELL The North Sea Transition Authority consented to the extension within PEDL137, under which lies the Kimmeridge oil pool, to 30 September 2025. NSTA last granted UKOG an extension in May […]