UK Oil & Gas plc has sold its subsidiary holding two minority interests in non-operated onshore oil licences in Hampshire for an aggregate £400,000 cash to Servatec Holdings Ltd. VALUE UKOG (GB) owns a 10% interest in PL211 containing the Horndean oil field, and a 5% interest in PEDL070 hosting Avington. The company said that […]
Tag: UK Oil & Gas plc
UKOG suspends trading pending annual report
UK Oil & Gas plc has suspended trading following a delay in publication of its annual report and accounts. The report for year ended 30 September 2024 will not be published by 31 March 2025, the date set according to AIM rules. The company said that trading will be temporarily suspended from 7.30 am on […]
UKOG raises £500,000 via placing
UK Oil & Gas plc has raised £500,000 via a placing of 2 billion new ordinary shares at a 26% discounted price of 0.025 pence per share. The company also intends to hold on the same terms a retail offer for shares of £0.000001 each, due to close on 22 November. Following admission of the […]
UKOG writes off £400,000 in Turkey as group cash falls
UK Oil & Gas plc posted an impairment of £400,000 from its Turkey operations while group cash more than halved. FINANCES The company’s assets include 5% in onshore Avington field within PEDL070, currently shut in; 100% of Loxley gas discovery and Broadford Bridge oil discoveries,PEDL234; 10% in Horndean PL211; 85.635% in Horse Hill PEDL137 due […]
UKOG issues 207m shares to reduce £2m loan
UK Oil & Gas plc has issued 206,965,282 ordinary shares to reduce the £2 million loan from lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. Future conversion of the shares will further reduce the principal balance below January’s £660,000 figure. Following admission, the total voting rights in the company will be 3,460,957,892 ordinary shares. […]
UKOG finds no commercial oil in Pinarova-1
UK Oil & Gas plc (UKOG) and its joint venture partner have found no commercial rates of hydrocarbons and have stopped testing at the Pinarova-1 well in Turkey. SEEPAGE UKOG said that drilling and testing results indicated Pinarova had likely penetrated the “southernmost feather edge of a small oil accumulation” within the Germik/Hoya sequence, stretching […]