Stephen Sanderson , UKOG’s Executive Chairman, commented:“The forthcoming Holmwood-1 well is a key part of the Company’s near term strategy to push the Kimmeridge Limestone play forwards. The extension is very welcome.”
UK Oil & Gas Investments PLC (LSE AIM: UKOG) has told DirectorsTalk that Europa Oil and Gas plc has today announced that the Oil and Gas Authority (“OGA”) has granted a two-year extension to the Initial Term of the PEDL143 Licence, which will now end on 1(st) October 2018. UKOG holds a 30% interest in PEDL143, located immediately to the west of the Horse Hill licence PEDL137. The Licence contains look-alike potential to Horse Hill in the Kimmeridge and Portland sections which will be tested by the Holmwood-1 well planned for winter 2017.