For immediate release
20 March, 2014
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
UKOG partners with Angus Energy for 14th onshore oil and gas bid round in the UK.
UKOG (AIM: UKOG) today announces that it has agreed to exclusively partner on a 50:50 basis with certified onshore operator Angus Energy Limited ("Angus Energy") in the upcoming UK Department for Energy and Climate Change ("DECC") proposed 14th onshore oil and gas bid round expected in Q2 this year.
Angus Energy, which is 6% owned by UKOG, holds an exploration and production operator's licence through the DECC and operates the conventional onshore Lidsey and Brockham oil fields located in the Weald Basin.
Any licences that may be secured by the UKOG/Angus Energy consortium will be funded on a 50:50 basis with Angus Energy assuming the role of Licenced operator.
David Lenigas, the Company's Chairman, commented:
"UKOG sees the 20 year history of Angus Energy as one of the few experienced licenced UK oil and gas operators, as being important in securing additional licences in the expected upcoming 14th bid round."
Enquiries:
UK Oil& Gas Investments PLC |
Tel: 020 7440 0640 |
David Lenigas / Donald Strang |
|
Beaumont Cornish (Nominated Adviser) |
Tel: 020 7628 3396 |
Roland Cornish / Michael Cornish / Emily Staples |
|
Hume Capital Securities PLC (Corporate Broker) |
Tel: 020 3693 1470 |
David Lawman Square 1 Consulting (Public Relations) David Bick/Mark Longson |
Tel: 020 7929 5599 |
