12 March 2015
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
UKOG Completes Acquisitions from Egdon and Montrose
The Board of UKOG (AIM: UKOG) is pleased to announce that yesterday it completed the previously announced acquisitions of interests in offshore licence P1916 (offshore Isle of Wight) and onshore licence PEDL 126 (containing the Markwells Wood oil discovery).
The licence interests acquired by UKOG comprise:
· A 7.5% interest in P1916 from Egdon (E&P) Limited
· A 5% interest in P1916 from Montrose Industries Limited
· A 10% interest in PEDL126 from Egdon Resources U.K. Limited
UKOG's interests in P1916 and PEDL126 are now respectively 77.5% and 60%. As detailed in the Company's RNS of 20 February 2015, the Company's total interest in PEDL126 will ultimately increase to 100% upon completion of the signed agreement with Magellan Petroleum (UK) Limited to acquire their 40% interest in the licence.
For further information please contact:
UK Oil & Gas Investments PLC David Lenigas / Donald Strang |
Tel: 020 7440 0640 |
WH Ireland (Nominated Adviser and Broker) James Joyce / Mark Leonard |
Tel: 020 7220 1666 |
Square 1 Consulting (Public Relations) David Bick / Mark Longson |
Tel: 020 7929 5599 |
Ends
