Proactiveinvestors United Kingdom UK Oil & Gas PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom UK Oil & Gas PLC RSS feed en Sun, 26 May 2019 08:15:44 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - UKOG reveals better than expected data from Horse Hill test programme ]]> https://www.proactiveinvestors.co.uk/companies/news/220488/ukog-reveals-better-than-expected-data-from-horse-hill-test-programme-220488.html UK Oil & Gas PLC (LON:UKOG) has provided details from the production testing programme at Horse Hill and told investors that a week-long pressure build up (PBU) test was successful.

The company revealed that the PBU results were significantly better than expected, showing little or no apparent pressure depletion compared to prior PBU testing back in April.

Production volumes from the Portland reservoir now exceeds 20,500 barrels of oil, and, the most recent production rate measured 220 barrels of oil per day - with the rate purposely constrained to protect future field performance.

READ: UKOG says new Horse Hill drilling is on-track to start during Q2

Previously in testing the Portland saw a peak production rate of 362 bopd.

Overall, the full extended well test has produced more than 45,500 barrels of oil. The programme aims to produce a total of 50,000 barrels. Once 25,000 barrels have been produced from the Portland reservoir, testing will revert back to the Kimmeridge zone.

"The Portland test programme continues to exceed our technical expectations with dry oil production now exceeding 20,500 barrels,” said Stephen Sanderson, UKOG chief executive.

“Our overall testing costs have also been significantly offset by the associated sales revenues.”

“The recent extensive pressure build-up also indicates HH-1 is likely connected to a larger oil volume than previously recognised. Further Portland test data will now be collected and analysed before the HH-2 drilling campaign to confirm this important development.”

In the coming months attentions will turn to the drilling of a new horizontal well which is expected to yield two or three times higher production rates that the Portland’s peak rate in the vertical well.

The Horse Hill partners are now finalising contracts for the upcoming drill programme.

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Fri, 17 May 2019 07:43:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220488/ukog-reveals-better-than-expected-data-from-horse-hill-test-programme-220488.html
<![CDATA[RNS press release - Horse Hill-1 Production Test Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190517070002_14077616/ Fri, 17 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190517070002_14077616/ <![CDATA[News - UK Oil & Gas takes control of Holmwood to focus on ‘Horse Hill look-alike’ ]]> https://www.proactiveinvestors.co.uk/companies/news/218658/uk-oil--gas-takes-control-of-holmwood-to-focus-on-horse-hill-look-alike-218658.html UK Oil & Gas PLC (LON:UKOG) today announced separate transactions which will see it consolidate its position in the Holmwood project to up to 67.5%.

It is paying £300,000 in cash, to Europa Oil & Gas Holdings PLC (LON:EOG) to acquire its 20% stake in the asset, and, it is picking up a further 7.5% through a deal with Union Jack Oil PLC (LON:UJO), which will in due course, hold shares in the company.

As a result, the company has secured control of the Holmwood project, which neighbours the flagship Horse Hill discovery, now on the road to development and permanent production.

The transactions come after UKOG earlier this month updated on Horse Hill’s Portland reservoir production test as preparation for new drilling programmes near finalisation.

READ: UKOG says new Horse Hill drilling is on-track for second quarter start

UKOG, in today’s statement, highlighted that the Holmwood licence, which includes the significant A24 prospect comprising both the Portland reservoir and Kimmeridge oil zones, is seen as “a direct geological look-alike” of Horse Hill.

The flagship project is located just eight kilometres to the east, meanwhile, UKOG also noted that several smaller prospects (described as being similar size to the nearby Brockham field) have been identified in the area.

Holmwood had previously stalled in the planning permission process, but, UKOG noted that work is presently underway to find a suitable drilling location outside of the Surrey Hills area which is designated as an area of Area of Outstanding Natural Beauty (AONB).

One of best untested prospect in the Weald

"We are delighted to acquire this further significant share of such a highly prospective exploration licence, which contains, in UKOG's view, one of the best undrilled Portland and Kimmeridge prospects in the Weald Basin,” said Stephen Sanderson, UKOG chief executive.

“The proximity to UKOG's Horse Hill field, together with the company's operational and subsurface expertise in the area, adds potentially significant operational and cost synergies to the project's overall benefit.

“UKOG, as the new licence operator, will now push ahead to finalise a new well location outside of the Surrey Hills AONB.”

On 11 April, UKOG – which is the largest UK listed stakeholder in Horse Hill - said that the Portland has continued to flow at a stable rate of 220 barrels of oil per day. It is a constrained rate, held below the 362 bopd top rate seen previously, due to prudent reservoir management.

UKOG told investors that the well has now been shut-in for a 60-hour pressure build-up test, after which test production will resume.

It is anticipated that the drill programme for the HH-1z sidetrack well and the HH2 well is slated to start during the current quarter.

The company also highlighted a number of notable milestones for the test production operation, which has now yielded over 40,000 barrels of crude combined from the well’s Portland and Kimmeridge zones.

Some 25,000 barrels were previously produced from the Kimmeridge, whole Portland production has now exceeded 15,000 barrels. A total of 186 tankers have so far transported crude to the Hamble oil terminal. The Portland crude, at 36 degree API, is sold at the prevailing Brent price, less deductions for handling and marketing.

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Tue, 16 Apr 2019 08:07:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218658/uk-oil--gas-takes-control-of-holmwood-to-focus-on-horse-hill-look-alike-218658.html
<![CDATA[RNS press release - Acquisition of Further Interest in PEDL143 ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190416070004_14042033/ Tue, 16 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190416070004_14042033/ <![CDATA[RNS press release - Result of Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190411144645_14038169/ Thu, 11 Apr 2019 14:46:45 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190411144645_14038169/ <![CDATA[News - UKOG says new Horse Hill drilling is on-track to start during Q2 ]]> https://www.proactiveinvestors.co.uk/companies/news/218390/ukog-says-new-horse-hill-drilling-is-on-track-to-start-during-q2-218390.html UK Oil & Gas plc (LON:UKOG) has updated on Horse Hill’s Portland reservoir production test as preparation for new drilling programmes near finalisation.

The AIM firm, the largest UK listed stakeholder in Horse Hill, said that the Portland has continued to flow at a stable rate of 220 barrels of oil per day. It is a constrained rate, held below the 362 bopd top rate seen previously, due to prudent reservoir management.

UKOG told investors that the well has now been shut-in for a 60-hour pressure build-up test, after which test production will resume.

READ: UKOG could target foreign assets as it hits acquisition trail

It is anticipated that the drill programme for the HH-1z sidetrack well and the HH2 well is slated to start during the current quarter.

“We remain fully on track to drill new horizontals in the second quarter of this year and are even more confident that the new Portland horizontal well can achieve its 720-1,080 bopd target,” said Stephen Sanderson, UKOG chief executive.

“We believe Horse Hill remains well positioned to deliver future significant value."

The company also highlighted a number of notable milestones for the test production operation which has now yielded over 40,000 barrels of crude combined from the well’s Portland and Kimmeridge zones.

Some 25,000 barrels were previously produced from the Kimmeridge, whole Portland production has now exceeded 15,000 barrels.

A total of 186 tankers have so far transported crude to the Hamble oil terminal. The Portland crude, at 36 degree API, is sold at the prevailing Brent price, less deductions for handling and marketing.

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Thu, 11 Apr 2019 07:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218390/ukog-says-new-horse-hill-drilling-is-on-track-to-start-during-q2-218390.html
<![CDATA[RNS press release - Oil Production Test Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190411070004_14036807/ Thu, 11 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190411070004_14036807/ <![CDATA[News - UKOG to hit acquisition trail and could target foreign assets ]]> https://www.proactiveinvestors.co.uk/companies/news/217309/ukog-to-hit-acquisition-trail-and-could-target-foreign-assets-217309.html UK Oil & Gas plc (LON:UKOG) has signalled that it is going on the acquisition trail, potentially picking up assets outside the United Kingdom.

This morning, UKOG revealed that it has raised £3.5mln through a share placing arranged by WH Ireland. It is selling 333.3mln new shares priced at 1.05p, a 12.5% discount.

READ: UK Oil & Gas reports Horse Hill production milestones

UKOG highlighted that it was already funded to complete the upcoming work programmes for the Horse Hill discovery – the Horse Hill-1z and Horse Hill-2 horizontal drilling programme – so, the new cash injection is earmarked for new opportunities.

In a statement, it said: “The placing's proceeds will be utilised in the assessment and acquisition of new opportunities, both in the UK onshore and elsewhere.”

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Wed, 27 Mar 2019 08:47:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217309/ukog-to-hit-acquisition-trail-and-could-target-foreign-assets-217309.html
<![CDATA[RNS press release - Successful Placing to Raise £3.5 Million ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190327070005_14016909/ Wed, 27 Mar 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190327070005_14016909/ <![CDATA[RNS press release - Posting of Annual Report and Accounts & AGM Notice ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190319122606_14007712/ Tue, 19 Mar 2019 12:26:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190319122606_14007712/ <![CDATA[News - UK Oil & Gas reports Horse Hill production milestones as ‘testing’ continues ]]> https://www.proactiveinvestors.co.uk/companies/news/216533/uk-oil--gas-reports-horse-hill-production-milestones-as-testing-continues-216533.html As it releases its annual results, UK Oil & Gas plc (LON:UKOG) has also provided an update from the ongoing extended well test at the Horse Hill field, highlighting a number of milestones.

UKOG, which owns a 50.635% interest in Horse Hill, said that 10,000 barrels have now been produced from the Portland reservoir and it continues to flow at an average rate of 220 barrels of oil per day.

It explained that the production rate is deliberately held beneath the previously reported test rate of 362 bopd for “prudent reservoir management purposes”.

The Portland production adds to the 25,000 barrels of crude previously produced from the Kimmeridge zone in an earlier phase of the testing programme, and, takes the aggregate to 35,000 barrels.

READ: UK Oil & Gas increases stake in Horse Hill with Doriemus deal

Some 165 tankers worth of crude has now been routed from Horse Hill to the Hamble oil terminal, sold a Brent Crude Oil prices (less deductions for handling and marketing).

In its financial results, for the twelve months ended 30 September 2018, the company said that sales in that period saw oil prices between US$70 and US$80 per barrel whilst lifting costs for the test production amounted to US$20-27 per barrel – at full scale, it is anticipated below US$20 per barrel.

The extended well-testing programme (which has seen flows are a variety of rates and has included periods of downtime began in June 2018 and in UKOG’s results to the end of September it reported revenue of £225,000.

UKOG detailed a £128,000 gross profit and a £16.7mln pre-tax loss, including an £11.5mln write off against exploration assets.

Plans for production through 2019

Looking ahead, UKOG highlighted that the current plan sees Horse Hill test production revenues continuing through the remainder of 2019 and that long term field production revenues will begin before the calendar year end.

New drilling this spring – comprising the HH-2 well and a new Kimmeridge sidetrack for the existing HH-1 well – will aim to boost production capacity.

UKOG said it is optimistic that Horse Hill can achieve its horizontal production targets of 720-1,080 bopd per well. At such a level, the company said the project will be generating free cash flow in 2020.

Subject to regulatory approvals, the plan is to switch seamlessly from ‘testing’ into long term production.

It also highlighted that as the project phases into full production, the addition of proven and probable reserves at Horse Hill will open up the possibility of reserve-based lending – in other words, the debt could be raised against the crude remaining beneath the ground.

A rig tender process has recently begun for this spring’s drilling programme, and, the company noted that it already has planning and environmental permits in place for the work.

UKOG chief executive Stephen Sanderson said: "The Portland's continued excellent production performance, particularly from a non-optimised vertical well, provides building confidence that the previously reported 720-1,080 bopd horizontal well production targets are increasingly attainable.

“The recent rig-tender exercise also means we remain fully on track to begin the first horizontals in Spring, with long term production testing of both wells planned to follow directly afterwards.

“This programme puts UKOG in a strong position to deliver real growth and positive cash flow in the near future."

As of 30 September, UKOG had £12.4mln of cash and equivalents.

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Fri, 15 Mar 2019 07:56:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216533/uk-oil--gas-reports-horse-hill-production-milestones-as-testing-continues-216533.html
<![CDATA[RNS press release - Oil Production Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190315071005_14003301/ Fri, 15 Mar 2019 07:10:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190315071005_14003301/ <![CDATA[RNS press release - Final Results for the year ended 30 September 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190315070004_14003208/ Fri, 15 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190315070004_14003208/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190312164103_13999593/ Tue, 12 Mar 2019 16:41:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190312164103_13999593/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190312163547_13999586/ Tue, 12 Mar 2019 16:35:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190312163547_13999586/ <![CDATA[RNS press release - Completion of Acquisition in Horse Hill ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190221070003_13976427/ Thu, 21 Feb 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190221070003_13976427/ <![CDATA[News - UKOG eyes long term production at Horse Hill as Portland test flows resume ]]> https://www.proactiveinvestors.co.uk/companies/news/214799/ukog-eyes-long-term-production-at-horse-hill-as-portland-test-flows-resume-214799.html UK Oil & Gas PLC (LON:UKOG) told investors that continuous production is now underway from the Portland reservoir at the Horse Hill project as efforts focus on the field development plan.

It is targeting long-term production starting in late 2019.

In the current extended well testing phase of production, the Portland reservoir is flowing at a stable rate between 208 and 218 barrels of oil per day.

Stephen Sanderson, UKOG chief executive, noted that the Portland is showing a good performance following a 6-month shut-in period.

READ: UK Oil & Gas increases stake in Horse Hill project

“The continued good flow performance from the Portland further reinforces the viability of Xodus' and the company's 720-1,080 bopd horizontal well production targets,” he said in a statement.

UKOG highlighted that during the whole extended well testing to date some 30,200 barrels of oil have been produced, in aggregate from the Kimmeridge and Portland zones. The majority, around 25,000 barrels, came from the Kimmeridge.

A total of 142 tankers worth of crude have been successfully delivered to the Hamble oil terminal and the oil continues to be sold at prevailing Brent prices (less a small deduction for handling and marketing).

Sanderson added: “We remain on course to commence the first two horizontals in Spring, with long term production testing of both wells planned to follow directly afterwards.

“The flow test results to date, combined with the prospect of further near term drilling, place Horse Hill in a strong position to deliver positive ‘free’ cash flow to UKOG in the near and foreseeable future."

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Mon, 18 Feb 2019 08:39:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214799/ukog-eyes-long-term-production-at-horse-hill-as-portland-test-flows-resume-214799.html
<![CDATA[RNS press release - Portland Oil Production Resumes at Horse Hill ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190218070006_13971933/ Mon, 18 Feb 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190218070006_13971933/ <![CDATA[News - UK Oil & Gas increases stake in Horse Hill project with Doriemus deal ]]> https://www.proactiveinvestors.co.uk/companies/news/214619/uk-oil--gas-increases-stake-in-horse-hill-project-with-doriemus-deal-214619.html UK Oil & Gas PLC (LON:UKOG) has again increased its stake in the Horse Hill oil project, this time in a transaction with fellow junior market stakeholder Doriemus.

It is acquiring a 6% interest in the Horse Hill Developments Limited (HHDL) vehicle which in turn holds 65% of the Horse Hill project.

Subsequently, UKOG will own 77.9% of HHDL and therefore 50.635% of Horse Hill.

READ: UK Oil & Gas aims to drill nine wells between 2019 and 2020

The transaction sees UKOG paying Doriemus £2.1mln in shares, a total of 129.62mln UKOG shares, with a reference price of 1.62p per share (based on the average over five preceding trading days).

"We are delighted to acquire this further share of our Horse Hill flagship oil production project,” said Stephen Sanderson, UKOG chief executive.

“The transaction now firmly establishes UKOG as the majority interest holder in the Horse Hill Portland and Kimmeridge oil field, together with the highly prospective surrounding licence acreage.

“Horse Hill is UKOG's stated 2019 focus and we are on track to deliver continuous test-derived oil production until the start of long-term stable oil production by year-end.

“The plan is designed to make Horse Hill the Weald Basin's number one oil producing field in 2019 and to move UKOG upwards into the top tier of UK onshore oil producing companies shortly afterwards.”

It is anticipated that two new horizontal wells will be added to the Horse Hill project this year, with drilling slated to start in the spring, ahead of the planned start of permanent production later this year.

The plan is to produce some 720-1,080 barrels of oil per day from the conventional Portland reservoir in the upcoming programme.

Future new wells, from 2020 onwards, will aim to increase field production above 2,000 bopd.

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Thu, 14 Feb 2019 08:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214619/uk-oil--gas-increases-stake-in-horse-hill-project-with-doriemus-deal-214619.html
<![CDATA[RNS press release - Acquisition of Further Interest in Horse Hill ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190214070002_13968737/ Thu, 14 Feb 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190214070002_13968737/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190211090538_13964629/ Mon, 11 Feb 2019 09:05:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190211090538_13964629/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190211090024_13964626/ Mon, 11 Feb 2019 09:00:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190211090024_13964626/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208140540_13963687/ Fri, 08 Feb 2019 14:05:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208140540_13963687/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208140024_13963683/ Fri, 08 Feb 2019 14:00:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208140024_13963683/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208110524_13963439/ Fri, 08 Feb 2019 11:05:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208110524_13963439/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208110013_13963434/ Fri, 08 Feb 2019 11:00:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190208110013_13963434/ <![CDATA[RNS press release - Related Party Contractor Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190201152813_13955955/ Fri, 01 Feb 2019 15:28:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190201152813_13955955/ <![CDATA[News - UK Oil & Gas aims to drill nine wells between 2019 and 2020, move Horse Hill into permanent production ]]> https://www.proactiveinvestors.co.uk/companies/news/213179/uk-oil--gas-aims-to-drill-nine-wells-between-2019-and-2020-move-horse-hill-into-permanent-production-213179.html UK Oil & Gas PLC (LON:UKOG) saw its shares jump on Wednesday as the explorer behind the so-called Gatwick Gusher at Horse Hill revealed it will drill nine wells between 2019 and 2020.

The AIM-listed group also said that after a successful drilling campaign, it plans to move Horse Hill's ongoing test-based oil production into permanent production by the end of 2019.

READ: UK Oil & Gas investors unimpressed by Horse Hill testing update

In its latest strategy and drilling plan, the firm said it aims to convert around 15.6mln barrels of the company's net discovered conventionally recoverable resources into reserves over the period.

UKOG’s chief executive officer, Stephen Sanderson commented: "If successful, this comprehensive plan aims to add significant value to the company and shareholders via transforming UK Oil & Gas from an exploration and appraisal company into a fully-fledged producing oil company by the end of 2019."

In mid-afternoon trading, shares in UK Oil & Gas shares were 8.5% higher at 1.27p.

Horse Hill flows

UKOG owns a 46.735% beneficial interest in the Horse Hill project, which is located in the Weald Basin of Surrey, while Alba Mineral Resources PLC (LON:ALBA) holds an 11.765% beneficial interest.

Last week, UKOG revealed that production testing from Horse Hill had passed a milestone of 25,000 barrel of oil.

The company said that based on the successful results to date, it has now been decided that this production phase will continue through to the expiry of the current permits in spring.

It then intends to advance immediately to the drilling of two horizontal wells, HH-2 and HH-3, which will also undergo a long term production test.

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Wed, 23 Jan 2019 14:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213179/uk-oil--gas-aims-to-drill-nine-wells-between-2019-and-2020-move-horse-hill-into-permanent-production-213179.html
<![CDATA[RNS press release - 2019-2020 Strategy and Drilling Plans ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190123110122_13944257/ Wed, 23 Jan 2019 11:01:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190123110122_13944257/ <![CDATA[RNS press release - Completion of Arreton Oil Discovery Acquisition ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190122090005_13942525/ Tue, 22 Jan 2019 09:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190122090005_13942525/ <![CDATA[News - UK Oil & Gas investors unimpressed by Horse Hill testing update ]]> https://www.proactiveinvestors.co.uk/companies/news/212660/uk-oil--gas-investors-unimpressed-by-horse-hill-testing-update-212660.html Investors in UK Oil & Gas PLC (LON:UKOG) were evidently unimpressed by Wednesday’s project update from the Horse Hill project, which revealed that production testing had passed a milestone of 25,000 barrel of oil.

Of the 25,000 barrels of oil produced since early July, some 21,000 barrels have come from the Kimmeridge.

READ: UK Oil & Gas ups stake in Arreton project

Production rates since 7 January have ranged between 303 bopd and 525 bopd, the company said.

In Wednesday morning’s trading, UKOG shares fell more than 5% to 1.14p.

The company said that, based on the successful results to date, it has now been decided that this production phase will continue through to the expiry of the current permits in spring.

It then intends to advance immediately to the drilling of two horizontal wells, HH-2 and HH-3, which will also undergo a long term production test.

Planning applications were recently submitted for the proposed seven-well field development, and the company anticipates that all necessary permits will be in place by the autumn – which will enable the transition from test production into permanent production in winter 2019.

“UKOG aims to deliver near-continuous oil production throughout 2019 via a combination of long term testing of HH-1 and two new wells, followed by a smooth transition into permanent production in the winter,” said Stephen Sanderson, UKOG chief executive.

“The potentially transformative effect of a successful programme is an exciting prospect for 2019."

UKOG highlighted that the absence of the formation water in the oil flows continues to give support to the company’s geological concept that KL oil lies within a significant continuous oil deposit.

It owns a 46.735% beneficial interest in the Horse Hill project. It is the largest UK-listed stakeholder in the venture.

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Wed, 16 Jan 2019 07:21:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212660/uk-oil--gas-investors-unimpressed-by-horse-hill-testing-update-212660.html
<![CDATA[RNS press release - Kimmeridge Oil Production Continues at HH-1 ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190116070002_13935861/ Wed, 16 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20190116070002_13935861/ <![CDATA[News - UK Oil & Gas ups stake in Arreton project with Solo Oil deal ]]> https://www.proactiveinvestors.co.uk/companies/news/211028/uk-oil--gas-ups-stake-in-arreton-project-with-solo-oil-deal-211028.html UK Oil & Gas Plc (LON:UKOG) chief executive described himself as delighted with a deal to increase the explorer’s stake in the Arreton oil discovery, on the Isle of Wight, acquiring 30% from Solo Oil PLC (LON:SOLO).

UKOG will pay £350,000 to acquire the stake, to take its overall ownership of the project to 95%.

The consideration will comprise £90,450 of cash and the remainder will be made up of UKOG shares, some 17.98mln shares, priced at 1.4428p (the average market price over a five day period ended 10 December).

READ: Deluge of date shows Horse Hill’s Kimmeridge is “commercially viable”

"We are delighted to acquire this further substantial share of the Arreton oil discovery, giving the company a material 14.9 million barrels of net attributable discovered PEDL331 recoverable resources. 

“The first Arreton appraisal well, Arreton-3, is now scheduled to be drilled, cored and tested in the first quarter of 2020, with the drilling of the larger look-alike Arreton South exploration prospect planned to follow after completion of Arreton-3 flow testing.

“We look forward to starting the journey towards realising the Isle of Wight Licence's considerable conventional oil resource potential."

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Wed, 12 Dec 2018 07:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211028/uk-oil--gas-ups-stake-in-arreton-project-with-solo-oil-deal-211028.html
<![CDATA[RNS press release - Acquisition of Interest in Arreton Oil Discovery ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181212070003_13900101/ Wed, 12 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181212070003_13900101/ <![CDATA[News - UK Oil & Gas: Deluge of date shows Horse Hill’s Kimmeridge is “commercially viable” ]]> https://www.proactiveinvestors.co.uk/companies/news/209251/uk-oil-gas-deluge-of-date-shows-horse-hills-kimmeridge-is-commercially-viable-209251.html UK Oil & Gas Plc (LON:UKOG) has delivered a deluge of statistics from its ongoing well testing campaign at the Horse Hill project.

It told investors that the KL3 zone, one of the multiple zones in the targeted Kimmeridge play, had initially produced oil at a rate of 771 barrels of oil per day, and, marked a peak rate of 909 bopd, before reducing to averaging a rate of 342 bopd over the full test period.

In total, some 10,2448 barrels of oil was produced from the KL3 zone over the course of the 30-day programme, which included 9 days of pressure build up (when no oil flowed)and a variety of tests on different well configurations. Additionally, the KL3 produced 3.5mln cubic feet of total gas to date.

READ: UK Oil & Gas declares Horse Hill’s Portland reservoir “commercially viable”

UKOG said that well-testing results to date indicate that the KL3 zone is “commercially viable”.

The programme will now move on to open up and the test KL4 zone for testing. A comingled test on KL3 and KL4 is also anticipated.

Back in 2016, a four-hour long test saw a production rate equivalent to 901 bopd.

UKOG, meanwhile, also revealed to investors that the whole Horse Hill programme - which started with a successful extended test of the shallower Portland reservoir – had so far yielded a total of 13,920 barrels of crude- 3,672 barrels from the Portland and 10,248 barrels from KL3.

The sale of this oil has generated around US$1.1mln of gross revenue to date.

It highlighted that, in aggregate, the 2018 and 2016 test programmes had now seen 15,860 barrels of crude from the so-called ‘Gatwick Gusher’ oil project.

"The 2018 EWT's total test production of almost 14,000 barrels of oil, with over 10,000 barrels to date from the single Kimmeridge KL3 horizon, firmly establishes Horse Hill as a commercially viable oil field.

“These "hard fact" production numbers, together with the million dollar sales revenues, undoubtedly mark the most significant milestone in the company's short history,” said Stephen Sanderson, UKOG chief executive.

“The company will spare no effort to push Horse Hill towards full-time production in late 2019/early 2020.

“We now look forward to the forthcoming KL4 EWT programme and the prospect of KL3 and KL4 commingled test production that will take us up to the spud of the HH-2 and HH-1z production wells in 2019."

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Thu, 15 Nov 2018 07:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209251/uk-oil-gas-deluge-of-date-shows-horse-hills-kimmeridge-is-commercially-viable-209251.html
<![CDATA[RNS press release - EWT Update, Portland & Kimmeridge Oil Discovery ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181115070003_13867524/ Thu, 15 Nov 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181115070003_13867524/ <![CDATA[News - Horse Hill Kimmeridge might live up to the hype but commercially viable Portland is an important breakthrough ]]> https://www.proactiveinvestors.co.uk/companies/news/207499/horse-hill-kimmeridge-might-live-up-to-the-hype-but-commercially-viable-portland-is-an-important-breakthrough-207499.html The more blue-sky minded followers of the Horse Hill oil project have likely looked past the significant piece of good news relating to the Portland oil reservoir this week.

It is a conventional, and essentially traditional, style oil discovery. It is not as sexy as the deeper, and potentially larger, but, still somewhat un-proven Kimmeridge zones at Horse Hill.

Already, having just used the word ‘un-proven’ in the first few sentences, the bristling of Horse Hill’s passionate investor following is palpable.

That some folks in the ‘investment community’ have chosen to spend their October hanging out in Surrey fields counting passing oil tankers and watching hot air exit a distant flare stack, tells you everything you need to know about how enthusiastic some investors are about this project.

The Kimmeridge is exciting but still early stage

Presently, the second phase of production-testing in the Kimmeridge is evidently enjoying success - with reported rates exceeding those in prior testing two years ago - but, these remain short-term tests.

It is, essentially, a brand new play. Longer-term data is not available and stock market sticklers don’t quite know enough to properly value such a discovery.

Important questions about the Kimmeridge are (naturally) still un-answered as the project transitions from exploration into a field development and production scenario.

We know the well can flow in strong volumes today. But, what will the decline rate be?

What will the production profile look like a year after start-up, and, what about a year after that?

How high will peak production reach and for how long?

Will all of the project’s most productive days be soaked up in the capital recovery phase?

And, by the time all the project costs are covered and cash flows are for the benefit of shareholders, how profitable will the asset be then?

Scepticism and speculation

Forget, for a second, the environmentalist viewpoint (which, whatever its size, has been visible and vocal in its opposition). Since the very early days of the project, the numbers of Horse Hill sceptics and the numbers of Horse Hill evangelists have been quite evenly matched.

Speculators latched on quickly and were happy to punt on Horse Hill’s potential – and, to varying degrees, accepted the somewhat extrapolative nature of some very large estimates of what the project could one day represent.

Naysayers have quite frequently and consistently said nay.

Nonetheless, whether you’re a sceptic or not, the actual results from the well have for the most part lived up to a lot of the initial hype and sales pitch.

It may be looking good, but, the fact still remains though that only time and more work will truly tell for the Kimmeridge.

Portland is tangible and present

There’s a strong case to be made, for all the reasons above, that as it presently stands the Portland is the most significant part of the Horse Hill project.

As pointed out by analyst Barney Gray, in a Proactive Investors interview this week, the Portland is a very much known entity onshore UK.

Those appraising the asset, presently, will be able to make confident assumptions about what a production operation will look like.

For that reason, Thursday’s declaration that Horse Hill’s Portland reservoir is now deemed commercially viable was an important breakthrough.

The declaration follows on from the successful extended test of the conventional Portland reservoir, which exceeded expectations with a calculated vertical well production rate of 362 barrels of oil per day (bopd).

The company now envisages a further field development, including the proposed horizontal Horse Hill 2 well which will have a targeted production rate of 720 to 1,080 bopd from the Portland.

Consultant Xodus has modelled the Portland’s production profile and claims that up to 45% of the Portland reservoir’s oil-in-place could be recovered if certain pressure support measures are put in place.

A development of the Portland would comprise up to three production wells and two pressure support wells.

Planning and environmental consents are already in place for the drilling of HH-2.

Portland provides a handy starting point

Significantly, a Portland production operation would effectively allow the deeper Kimmeridge to be opened up as – from a risk point of view, at least – an added extra.

The Kimmeridge’s evident potential means it could quickly come to overshadow the conventional Portland operation.

Nonetheless, Portland is very much in hand whilst at least some of the Kimmeridge remains in the proverbial bush.

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Fri, 19 Oct 2018 16:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207499/horse-hill-kimmeridge-might-live-up-to-the-hype-but-commercially-viable-portland-is-an-important-breakthrough-207499.html
<![CDATA[News - UK Oil & Gas declares Horse Hill’s Portland reservoir “commercially viable” ]]> https://www.proactiveinvestors.co.uk/companies/news/207342/uk-oil-gas-declares-horse-hills-portland-reservoir-commercially-viable-207342.html UK Oil & Gas PLC (LON:UKOG) has now officially declared the Horse Hill Portland oil field “commercially viable”.

It follows on from the successful extended test of the conventional Portland reservoir, which exceeded expectations with a calculated vertical well production rate of 362 barrels of oil per day.

READ: Horse Hill’s Kimmeridge test rates impress

The company now envisages a further field development, including the proposed horizontal Horse Hill 2 well which will have a targeted production rate of 720 to 1,080 bopd from the Portland.

UKOG noted that it already has planning and environmental consent for the drilling of HH-2 and it is scheduled to start in early 2019.

Consultant Xodus has modelled the Portland’s production profile and claims that up to 45% of the Portland reservoir’s oil-in-place could be recovered if certain pressure support measures are put in place.

A development of the Portland would comprise up to three production wells and two pressure support wells, UKOG added.

It is envisaged that long-term production operations could begin during 2019. The development – of the Portland and Kimmeridge zones - will require additional planning permission. UKOG said the application is nearing completion, and, submission is anticipated before the end of 2018.

UKOG holds an indirect 46.735% beneficial interest in Horse Hill, via its shareholding in the HHDL vehicle which in turn owns 65% of the asset.

"HHDL's declaration of Portland commercial viability is a significant milestone for the Company,” said UKOG chief executive Stephen Sanderson.

“It transforms Horse Hill from solely exploration into a fully-fledged field development with a full-scale oil production start-up targeted in 2019.”

He added: “The better than expected EWT results have robustly demonstrated that the Portland has significant daily production potential in its own right, which could see the first planned horizontal producer attain sustained oil rates of 720-1,080 bopd.

“If realised, these rates could make the Horse Hill Portland oil field one of the UK onshore's top producers.”

Kimmeridge testing continues

Sanderson also highlighted that the Portland conventional oil field project could be combined with the development of the deeper, unconventional Kimmeridge zones – which are presently on the extended test.

Latest results, released earlier this week, exceeded those seen in the previous tests back in 2016.

The first Kimmeridge test has seen oil flow continuously and naturally from the KL3 zone to surface.

Test flows measured production rates between 563 and 771 barrels of oil per day, before further testing programme resumed with pressure build up, clean-up, flow stabilization, oil sampling.

After that, the programme moves on to test production from the KL4 zone where, in 2016, a rate equivalent to 901 bopd was measured over a four-hour period.

UKOG shares gained more than 5% to trade at 2p.

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Thu, 18 Oct 2018 07:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207342/uk-oil-gas-declares-horse-hills-portland-reservoir-commercially-viable-207342.html
<![CDATA[RNS press release - Portland Declared Commercially Viable ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181018070008_13833124/ Thu, 18 Oct 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181018070008_13833124/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181015113558_13828872/ Mon, 15 Oct 2018 11:35:58 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181015113558_13828872/ <![CDATA[News - Lenigas praises UKOG ‘oil dude’ but not everyone is in good books as Gatwick well gushes again ]]> https://www.proactiveinvestors.co.uk/companies/news/206880/lenigas-praises-ukog-oil-dude-but-not-everyone-is-in-good-books-as-gatwick-well-gushes-again-206880.html Natural resources executive and small-cap dealmaker David Lenigas made an ideally timed visit to the Horse Hill site, as the so-called Gatwick Gusher well yesterday provided impressive initial production testing results.

Lenigas, as has become customary, shared a number of images and insights with his ten thousand strong Twitter following.

It included praise for Stephen Sanderson, chief executive of UK Oil & Gas PLC (LON:UKOG), which is the largest listed stakeholder in Horse Hill with an indirect 46% interest.

Yesterday at Horse Hill with Steve Sanderson. One of the most articulate and professional Oil dudes I’ve had the pleasure to work with. Standing near a tanker being filled with Great British Oil. Many many more tankers to roll out now. ⁦@UKOGlistedonAIM⁩ pic.twitter.com/9NvV2dDyei

— David Lenigas (@DavidLenigas) October 11, 2018 Solo Oil management in firing line

Lenigas was less complimentary when it came to Solo Oil PLC (LON:SOLO), a company he previously ran and in which he is still a shareholder.

Solo last month traded its stake in Horse Hill with UKOG, receiving a 4.3% stake (at the time worth £4.5mln) in its AIM-quoted peer – though in recent days, according to stock market announcements, Solo has been selling at least some of its UKOG shareholding.

I’m a shareholder of Solo Oil PLC and the board’s decision to see out of the Horse Hill assets and then dumping their shares will probably prove to be a massive mistake for them. Some shareholders will certainly be looking at going for the board. Oh well. Their loss! @solooilgas

— David Lenigas (@DavidLenigas) October 10, 2018

On Monday, investors were informed via London’s RNS that Solo has in the previous week reduced its shareholding down to 3.98%.

Investors, in light of Lenigas’s tweet, may now be keeping eyes peeled for notifications of any further share sales.

Horse Hill well results

The latest results coming out of the Horse Hill production test have exceeded those seen in the previous tests back in. UKOG on Wednesday revealed that the first Kimmeridge test saw oil flow continuously and naturally from the KL3 zone to surface.

The flow of oil measured at rates between 563 and 771 barrels of oil per day during tests. At the same time, gas rates measured at 186 thousand cubic feet per day via an enclosed flare.

A bottle of England’s finest liquid Black Gold. #GatwickGusher #gatwickairport 41 API sweet Horse Hill crude #oil. Just been to site. Totally off the clock amazing. The independent engineers there very pleased with HH-1 well. Stable High oil rates! ⁦@UKOGlistedonAIM⁩ pic.twitter.com/CRRIGUtIle

— David Lenigas (@DavidLenigas) October 10, 2018

The 2018 test rates to date compare very favourably to the 464 bopd rate recorded for the same Kimmeridge section two years ago.

Also, UKOG said that pressure data indicates that the KL3 zone and the overlying KL4 zone comprise one single connected oil pool, with an implied minimum vertical extent of 358 feet.

Four tankers carrying crude produced in the Kimmeridge test have been transported to the Fawley refinery. The company added that no formation water has been recorded, and although it noted that water from well completion continues to be recovered as the well continues to proceed through the ‘clean up’ phase.

The Horse Hill production test programme continues. The first 24-hour pressure build up (PBU) test is now underway. It will be followed by further operations including additional clean-up, flow stabilization, oil sampling, and more PBUs.

After that, the programme will move on to test production from KL4 where, in 2016, a rate equivalent to 901 bopd was measured over a four hour period.

More snaps and insights from Lenigas

Lenigas’s tweets, embedded below, show various pieces of surface infrastructure at Horse Hill, as well as some further insights for those that may be a little more technically minded (albeit, they may not entirely match those stated in the regulated news service).

This is where the high quality #Oil comes out of the ground at Horse Hill. This is the high pressure “Blow Out Preventer” or “BOP”. The oil is flowing through this pipe work to the processing and storage area. ⁦@UKOGlistedonAIM⁩ $UKOG #GatwickGusher pic.twitter.com/K1K7pPhkDx

— David Lenigas (@DavidLenigas) October 10, 2018

The instantaneous oil readout at Horse Hill this afternoon. Note the bottom number is an instantaneous oil production readout, which goes up and down a bit. This was a high one! But it’s flying along. ⁦@UKOGlistedonAIM⁩ $UKOG #GatwickGusher This picture is at separator. pic.twitter.com/3cYQoLnTdV

— David Lenigas (@DavidLenigas) October 10, 2018

High quality onshore English oil being loaded from the big oil storage stable at Horse Hill this afternoon. ⁦@UKOGlistedonAIM⁩ #GatwickGusher pic.twitter.com/PU5Sep7d3O

— David Lenigas (@DavidLenigas) October 10, 2018

3 full tanks of Kimmeridge #Oil on the right. These are being tricked away now and being filled up very quickly. ⁦@UKOGlistedonAIM⁩ $UKOG #GatwickGusher pic.twitter.com/YkNJ9HnwNJ

— David Lenigas (@DavidLenigas) October 10, 2018 ]]>
Thu, 11 Oct 2018 09:34:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206880/lenigas-praises-ukog-oil-dude-but-not-everyone-is-in-good-books-as-gatwick-well-gushes-again-206880.html
<![CDATA[News - Horse Hill’s Kimmeridge test rates impress, UKOG shares rise ]]> https://www.proactiveinvestors.co.uk/companies/news/206802/horse-hills-kimmeridge-test-rates-impress-ukog-shares-rise-206802.html The latest results coming out of the Horse Hill production test have exceeded those seen in the previous tests back in.

UK Oil & Gas Plc (LON:UKOG), the largest UK listed stakeholder in the project, has revealed that the first Kimmeridge test has seen oil flow continuously and naturally from the KL3 zone to surface over the past 50 hours.

Moreover, the flow of oil was measured at rates between 563 and 771 barrels of oil per day over the past 24 hours. At the same time, gas rates measured at 186 thousand cubic feet per day via an enclosed flare.

READ: Balcombe and Horse Hill: What’s next for the UK’s new oil play?

The 2018 test rates to date compare very favourably to the 464 bopd rate recorded for the same Kimmeridge section two years ago.

Also, UKOG said that pressure data indicates that the KL3 zone and the overlying KL4 zone comprise one single connected oil pool, with an implied minimum vertical extent of 358 feet.

Four tankers carrying crude produced in the Kimmeridge test have been transported to the Fawley refinery.

The company added that no formation water has been recorded, and although it noted that water from well completion continues to be recovered as the well continues to proceed through the ‘clean up’ phase.

The Horse Hill production test programme continues. The first 24-hour pressure build up (PBU) test is now underway. It will be followed by further operations including additional clean-up, flow stabilization, oil sampling, and more PBUs.

After that, the programme will move on to test production from KL4 where, in 2016, a rate equivalent to 901 bopd was measured over a four hour period.

UKOG chief executive Stephen Sanderson, in a statement, said: “I am delighted to have witnessed first-hand the resumption of significant continuous and sustained oil flow from the Kimmeridge at Horse Hill.

“Whilst it has been a long wait since the successful 2016 flow tests, it has been made more momentous by the Kimmeridge's significantly increased performance and productivity.”

He added: “The directors consider that these positive KL3 test results now make it increasingly likely that both the Kimmeridge and Portland oil pools are set to make Horse Hill one of the UK's leading onshore producing oil fields. Permanent production at Horse Hill is targeted in 2019.”

UKOG has a 46.735% indirect interest in the Horse Hill project, via a shareholding in HHDL with in turn owns 65% of the asset. Solo Oil PLC (LON:SOLO) retains an interest in the project, via its shareholding in UKOG, following its recent divestment deal.

Meanwhile, Alba Minerals Plc (LON:ALBA) has an 18.1% stake in HHDL.

Alba chief executive George Frangeskides, in a separate statement, said: "Whilst these are early results from the KL3 EWT sequence, with the well still ‘cleaning-up’, the rates achieved so far in the Kimmeridge limestones are highly encouraging. 

“We look forward to the results of the remainder of the KL3 and KL4 test programme, and look forward also to learning of the operator's go forward plans for the field development of the Portland sandstone and Kimmeridge limestone reservoirs at Horse Hill."

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Wed, 10 Oct 2018 14:53:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206802/horse-hills-kimmeridge-test-rates-impress-ukog-shares-rise-206802.html
<![CDATA[RNS press release - EWT Update: Horse Hill-1 ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181010135554_13823709/ Wed, 10 Oct 2018 13:55:54 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181010135554_13823709/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181008095731_13819918/ Mon, 08 Oct 2018 09:57:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181008095731_13819918/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181008095534_13819916/ Mon, 08 Oct 2018 09:55:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181008095534_13819916/ <![CDATA[News - UK Oil & Gas’s Horse Hill sees start of Kimmeridge testing ]]> https://www.proactiveinvestors.co.uk/companies/news/206504/uk-oil-gass-horse-hill-sees-start-of-kimmeridge-testing-206504.html Fri, 05 Oct 2018 12:21:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206504/uk-oil-gass-horse-hill-sees-start-of-kimmeridge-testing-206504.html <![CDATA[RNS press release - Extended Well Test and Regulatory Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181005113001_13818495/ Fri, 05 Oct 2018 11:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20181005113001_13818495/ <![CDATA[RNS press release - Completion of Disposal of Interest in HHDL to UKOG ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20180925070020_13802892/ Tue, 25 Sep 2018 07:00:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20180925070020_13802892/ <![CDATA[RNS press release - Completion of Further Interest in HHDL ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20180925070010_13802823/ Tue, 25 Sep 2018 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20180925070010_13802823/ <![CDATA[RNS press release - 18-month Planning Extension Approved ]]> https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20180911162406_13786993/ Tue, 11 Sep 2018 16:24:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12174/LSE20180911162406_13786993/