UK Oil & Gas Investments PLC Update on Holmwood Well (0672U)
19 October 2017 - 7:19PM
UK Regulatory
TIDMUKOG
RNS Number : 0672U
UK Oil & Gas Investments PLC
19 October 2017
UK Oil & Gas Investments PLC
("UKOG" or "the Company")
Update on Holmwood Well, PEDL143, Weald Basin, UK
UK Oil & Gas Investments PLC (London AIM: UKOG) notes the
release made this morning by Europa Oil and Gas Holdings) plc
("Europa") in respect of PEDL143 where UKOG holds a 30% interest,
increasing to 40% on completion of the recently announced
transaction with Warwick Energy Exploration and Production
Limited.
Europa included the following statements:
"Europa Oil & Gas (Holdings) plc, UK and Ireland focussed
exploration, development and production company notes the outcome
of the Surrey County Council Planning and Regulatory Committee
meeting on 18 October 2017 in connection with a conventional oil
exploration well to test the Holmwood prospect at Bury Hill Wood,
Coldharbour Lane, Surrey:
-- A planning application for a security fence for the drill
site was approved by Surrey County Council ('SCC') at the Planning
and Regulatory Committee meeting on 18 October 2017.
-- The Planning Committee elected to defer a decision on
Condition 19 (Traffic Management Scheme) pending response to
further requests for information from the Planning Committee.
Europa will consult with its joint venture partners and advisers
and respond to SCC on Condition 19 accordingly.
As a consequence of the deferred decision on Condition 19, the
Company advises that it anticipates operations to drill the
Holmwood conventional oil exploration well will now commence in H1
2018.
Europa is operator of the Licence in which it holds a 20%
interest, alongside UK Oil & Gas Investments plc 30%, Egdon
Resources plc 18.4%, Angus Energy plc 12.5%, Warwick Energy 10%,
Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%."
For further information, please contact:
UK Oil & Gas Investments PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 243450
WH Ireland (Nominated Adviser and Broker)
James Joyce / James Bavister Tel: 020 7220 1666
Cenkos Securities PLC (Joint Broker)
Nick Tulloch / Neil McDonald Tel: 0131 220 6939
Square 1 Consulting (Public Relations)
Brian Alexander / David Bick Tel: 01483 243450
UKOG Licence Interests
The Company has interests in the following ten UK licences:
Asset Licence UKOG's Licence Holder Operator Area (km(2) ) Status
Interest
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
UKOG (GB) IGas Energy Field in stable
Avington (1) PEDL070 5% Limited Plc 18.3 production
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Baxters Copse PEDL233 50% UKOG Weald IGas Energy 89.6 Appraisal/development
(2) Limited Plc well planned; licence
extended to 2018
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Broadford Bridge PEDL234 100% Kimmeridge Oil Kimmeridge Oil 300.0 BB-1&1z drilling
(3) & Gas Limited & Gas Limited completed, testing
(4) (4) underway
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Holmwood (3) PEDL143 40% UKOG Europa Oil & 91.8 Holmwood-1
Gas (Holdings) exploration well
plc planned in 2018
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
UKOG (GB) IGas Energy Field in stable
Horndean (1) PL211 10% Limited Plc 27.3 production
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Horse Hill (5) PEDL137 32.435% Horse Hill Horse Hill 99.3 Submitted planning
Developments Developments application for long
Ltd Ltd term production tests
and drilling of two
wells
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Horse Hill Horse Hill
Developments Developments
Horse Hill (5) PEDL246 32.435% Ltd Ltd 43.6 As above
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Isle of Wight UKOG Solent UKOG Solent Preparing drilling
(Offshore) (3) P1916 100% Limited Limited 46.7 planning submission
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Isle of Wight
(Onshore) (2, Preparing drilling
3) PEDL331 65% UKOG TBA 200.0 planning submission
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Markwells Wood PEDL126 100% UKOG (GB) UKOG (GB) 11.2 Submitted planning
(2) Limited Limited application for
appraisal and field
development
---------------- --------- --------------- --------------- --------------- -------------- ----------------------
Notes:
1. Oil field currently in production.
2. Oil discovery pending development and/or appraisal
drilling.
3. Exploration asset with drillable prospects and leads.
Contains the extension of the Godley Bridge Portland gas discovery
and the site of the Broadford Bridge-1 and 1z well.
4. UKOG has a 100% interest in Kimmeridge Oil & Gas Limited,
which has a 100% interest in PEDL234.
5. Oil discovery with recently completed flow testing.
6. UKOG has a direct 49.9% interest in HHDL, which has a 65%
interest in PEDL137 and PEDL246.
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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