UK Oil & Gas PLC

("UKOG" or the "Company")

NSTA approves conversion of HH-2z into a water reinjector

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following the Environment Agency's Horse Hill production consent as announced on 4^th May 2022, the North Sea Transition Authority ("NSTA"), formerly the Oil and Gas Authority, has now granted its formal consent for the recompletion (i.e., conversion) of Horse Hill-2z into a water reinjection well. The Company holds an 85.635% operated interest in the Horse Hill oil field and surrounding PEDL137 licence.   

With both the Environment Agency and NSTA permissions in hand, UKOG can now further expedite its plans for produced saline formation water reinjection at Horse Hill during 2022, which, if implemented, would remove the need for costly transportation and disposal of produced water at distant third-party sites.

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The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the “UK MAR”) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company’s obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.