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Share Price: 0.0165

Bid: 0.015

Ask: 0.018

Change: -0.0015 (-8.33%)

Spread: 0.003 (20.00%)

Open: 0.0185

High: 0.0185

Low: 0.0165

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UK Oil & Gas Investments Raises Further GBP2 Million For Weald Basin (ALLISS)

Wed, 04th Jul 2018 09:01

LONDON (Alliance News) - UK Oil & Gas Investments PLC said Wednesday it raised GBP2 million via a share placing to expand its asset base in the Weald Basin in southern England.

The company placed 100 million shares at 2 pence each. The price represents a 5% discount to its closing price of 2.10p on Tuesday.

Shares UK Oil & Gas were trading 4.8% higher at 2.2p on Wednesday.

The company said it intends to use the placing proceeds to deliver its consolidation goal and expand its asset base in the Weald Basin.

The oil and gas company had already raised GBP10.5 million for the development of its assets and previously said it had secured "sufficient working capital for the next 18 months".

Admission to trading of the new shares is expected on July 10. Following admission, the company will have 5.20 billion shares in issue.

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14 Oct 2022 13:11

High Court upholds UK Oil & Gas planning consent for Loxley

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14 Oct 2022 11:45

IN BRIEF: UK court upholds UK Oil & Gas's Loxley planning permission

UK Oil & Gas PLC - London-based exploration and production company focused on the UK and Turkey - Says it is "pleased" with UK High Court upholding planning permission for Loxley, its conventional gas and hydrogen feedstock project in Surrey. "Loxley planning consent therefore remains in full force and the company's plans to implement the project remain unchanged," UK Oil & Gas says.

16 Sep 2022 11:04

IN BRIEF: UK Oil & Gas finishes seismic programme in Turkey

UK Oil & Gas PLC - London-based exploration and production company focused on the UK and Turkey - Says phase 2 seismic programme over its Turkey Resan licence is complete. UK Oil & Gas has a 50% interest in the Resan licence. The programme, consisting of four new 2D seismic lines over the possible updip western extent of the Basur-1 oil discovery and Prospect B to the south, was delivered "ahead of schedule and under budget", the company says. UK Oil & Gas will now analyse the data before focusing on delivery of a new Basur appraisal well. Well is now anticipated to add near-term oil production in the first half of 2023. Turkey's petroleum law enables a successful oil well to be put into full time production within days to weeks of a successful test, company notes.

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UKOG completes second phase seismic programme in Turkey

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IN BRIEF: UKOG, Alba Mineral note potential for Horse Hill appeal

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UK Oil & Gas Investments Raises Further GBP2 Million For Weald Basin (ALLISS)

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