18-month Planning Extension Approved

 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Regulatory Update: 18-month Planning Extension Approved,

Broadford Bridge-1 and 1z Kimmeridge Oil Discovery, Licence PEDL234, Weald Basin, UK

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that West Sussex County Council's Planning Committee have approved, by a significant majority vote, an 18-month extension to the existing planning permission covering its 100% owned and operated BB-1 and 1z Kimmeridge oil discovery, located in licence PEDL234. The planning extension, which will expire in March 2020, will provide the Company with the necessary time to complete its plans to re-enter the BB-1 well to drill and flow test a new Kimmeridge sidetrack, BB-1y.

 

Drilling of the BB-1y sidetrack well is planned to directly follow the drilling of the new 2019 Kimmeridge exploratory and overlying Portland gas appraisal well in the basin-centre area of PEDL234, a planning application for which is expected to be submitted this Autumn. The drilling of the sidetrack and new PEDL234 well are subject to the grant of necessary regulatory consents.

 

Qualified Person's Statement

 

Rob Wallace, UKOG's principal technical advisor, who has over 40 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Wallace is a Chartered Scientist, Chartered Geologist and Fellow of the Geological Society of London, an active member of the American Association of Petroleum Geologists, a member of the Petroleum Exploration Society of Great Britain and a member of the South African Geophysical Society.

 

For further information, please contact:

 

UK Oil & Gas PLC

Stephen Sanderson / Kiran Morzaria                                                                      Tel: 01483 243450

 

WH Ireland (Nominated Adviser and Broker)

James Joyce / James Sinclair-Ford                                                                           Tel: 020 7220 1666

 

Cenkos Securities PLC (Joint Broker)

Joe Nally / Neil McDonald                                                                                           Tel: 020 7397 8919

 

Novum Securities                                                                                                           

John Bellis                                                                                                                          Tel: 020 7399 9400

 

(Joint Broker) Public Relations

Brian Alexander / David Bick                                                                      Tel: 01483 243450

 

 

UKOG Licence Interests

 

The Company has interests in the following UK licences:

 

Asset	Licence	UKOG Interest	Licence Holder	Operator	Area (km2)	Status
Avington 1	PEDL070	5%	UKOG (GB) Limited	IGas Energy Plc	18.3	Field currently shut in
Broadford Bridge 3	PEDL234	100%	UKOG (234) Ltd 4	UKOG (234) Ltd 4	300.0	BB-1 & 1z oil discovery, Planning extension granted, new planning application for further exploratory well planned in Autumn
Holmwood 3	PEDL143	40%	UKOG	Europa Oil & Gas (Holdings) plc	91.8	Seeking alternate sites to drill Holmwood and other Portland & Kimmeridge prospects
Horndean 1	PL211	10%	UKOG (GB) Limited	IGas Energy Plc	27.3	Field in stable production
Horse Hill 5	PEDL137	46.735%	Horse Hill Developments Ltd ⁶	Horse Hill Developments Ltd ⁶	99.3	Portland EWT completed successfully, KL3 & KL4 EWT to commence, 2 further appraisal wells scheduled for Q4 2018/Q1 2019
Horse Hill 5	PEDL246	46.735%	Horse Hill Developments Ltd⁶	Horse Hill Developments Ltd ⁶	43.6	As above
Isle of Wight (Onshore) 2, 3	PEDL331	65%	UKOG	UKOG	200.0	Preparing planning submission  for Arreton-3 Portland oil appraisal well & Arreton S. look-alike exploration well
Markwells Wood 2	PEDL126	100%	UKOG (GB) Limited	UKOG (GB) Limited	11.2	Revised Kimmeridge test planning application underway

               

Notes:

1.  Oil field currently in production.

2.  Oil discovery pending development and/or appraisal drilling.

3. Exploration asset with drillable prospects and leads. PEDL234 contains the Broadford Bridge-1 and 1z
    oil discovery well, the extension of the Godley Bridge Portland gas discovery plus further exploration
     prospects.

4.  UKOG has a 100% interest in UKOG (234) Ltd, which has a 100% interest in PEDL234.

5.  Oil discovery in 3 zones, EWT ongoing, two further wells HH-1z and HH-2 planned  end 2018/early 2019

6.  UKOG has a direct 71.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.

 

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.