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The North Sea Transition Authority (NSTA) granted UK Oil & Gas PLC (UKOG) a one-year extension to the PEDL137 Retention Area Work Programme (RAWP) for its Horse Hill oil field. The RAWP now extends to 30th September 2025 and corresponds to a farmin programme agreed with Pennpetro Energy Plc. This programme comprises one new production well, HH-3, and a 12 km² 3D seismic survey, with seismic acquisition currently targeted to commence in H1 2024; UKOG holds an 85.635% effective interest in the field.
| Date | 12 Dec 2023 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 3978W |
UK Oil & Gas PLC
("UKOG" or the "Company")
Horse Hill Work Programme Extended by NSTA
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the North Sea Transition Authority has granted a one-year extension to the PEDL137 Retention Area Work Programme ("RAWP") containing the Company's Horse Hill producing oil field (UKOG 85.635% effective interest).
The RAWP now extends to 30th September 2025 and fully corresponds to the farmin programme agreed with Pennpetro Energy Plc, comprising one new production well, HH-3, plus a 12 km² 3D seismic survey (see RNS of 28 March and 11 December 2023). Seismic acquisition is currently targeted to commence in H1 2024.
For further information, please contact:
UK Oil & Gas Plc
Stephen Sanderson / Allen D Howard Tel: 01483 941493
WH Ireland Ltd (Nominated Adviser and Broker)
James Joyce / Andrew de Andrade / James Bavister Tel: 020 7220 1666
Communications
Brian Alexander Tel: 01483 941493
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.