For Immediate Release
16 June 2014
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
Update on Horse Hill -1 Well.
UKOG (AIM: UKOG) today announces that Horse Hill Development Ltd ("HHDL"), the operators of the Horse Hill Prospect in the Weald Basin near Gatwick Airport, have advised that site construction has now commenced for the proposed 8,512 feet Horse Hill-1 well. The well is expected to spud in July 2014 and is targeting a number of conventional stacked oil and gas targets.
UKOG has a binding agreement in place to own a direct 7.5% interest in Horse Hill Development Ltd ("HHDL"), a special purpose company that owns a 65% participating interest and operatorship of the Horse Hill and an additional interest by virtue of it's 6% ownership in the License's operator, Angus Energy. Angus Energy owns 40% of HHDL.
David Lenigas, the Company's Chairman, commented:
"The breaking of ground at the Horse Hill Prospect marks the start of a potentially exciting era for UKOG."
-ENDS-
For further information, please contact:
UK Oil& Gas Investments PLC David Lenigas / Donald Strang |
Tel: 020 7440 0640 |
Beaumont Cornish (Nominated Adviser) Roland Cornish / Michael Cornish |
Tel: 020 7628 3396 |
Hume Capital Securities PLC (Corporate Broker) David Lawman |
Tel: 020 7101 7070 |
Square 1 Consulting (Public Relations) David Bick/Mark Longson |
Tel: 020 7929 5599 |
