UK OIL & GAS PLC

Regulatory Filings • Jul 9, 2020

National Storage Mechanism | Additional information

RNS Number : 4629S

UK Oil & Gas PLC

09 July 2020

UK Oil & Gas PLC

("UKOG" or the "Company")

Broadford Bridge Kimmeridge oil discovery granted 24-month Planning Extension

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that West Sussex County Council's ("WSCC's") Planning Committee have approved, by a significant 10-1 majority vote, a 2 year planning permission extension to its Broadford Bridge-1/1z ("BB-1") Kimmeridge oil discovery, located in licence PEDL234 (UKOG 100%). The planning extension, which was recommended by WSCC's planning officer, will expire on 31 March 2022.

In order to confirm the decision to further sidetrack and test BB-1, UKOG will use the extension period to evaluate future Kimmeridge well and test results, which are planned by both the Company and other operators before March 2022.

Stephen Sanderson, UKOG's Chief Executive, commented:

"The Kimmeridge play, where UKOG holds industry leading knowledge and an unrivalled acreage position within the sweet spot, remains of primary Company interest. This extension will enable us to incorporate key future well and test information into our understanding of this new play before any further appraisal of  our BB-1 Kimmeridge discovery."

Qualified Person's Statement

Matt Cartwright, UKOG's Commercial Director, who has 37 years of relevant experience in the global oil industry, has approved the information contained in this announcement. Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers.

For further information please contact:

UK Oil & Gas PLC
Stephen Sanderson / Kiran Morzaria	Tel: 01483 941493
WH Ireland Ltd (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 (Joint Broker)
John Belliss	Tel: 020 7399 9400
Communications
Brian Alexander	Tel: 01483 941493

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 temporarily shut in
Broadford Bridge/Loxley 2, 3, 8	PEDL234	100%	UKOG (234) Ltd 4	UKOG (234) Ltd 4	300.0	BB-1/1z oil discovery, Loxley-1 gas appraisal well
A24 3	PEDL143	67.5%	UKOG	UKOG 7	91.8	Finalising new site selection to drill Portland and Kimmeridge prospects
Horndean 1	PL211	10%	UKOG (GB) Limited	IGas Energy Plc	27.3	Field in stable production
Horse Hill ¹ ⁵	PEDL137	85.635%	Horse Hill Developments Ltd ⁶	Horse Hill Developments Ltd ⁶	99.3	Field in stable production
Horse Hill ¹ ⁵	PEDL246	85.635%	Horse Hill Developments Ltd ⁶	Horse Hill Developments Ltd ⁶	43.6	Field in stable production
Isle of Wight (Onshore) 2, 3	PEDL331	95%	UKOG	UKOG	200.0	Planning Application submitted for Arreton oil appraisal well, Godshill exploration application pending

Notes:

1.   Oil field currently in stable production.

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

3.   Exploration asset with drillable prospects and leads.

4.   Contains the significant undeveloped Loxley Portland gas discovery (delineated by Godley Bridge-1 and Alfold-1 discoveries), the Broadford Bridge-1/1z Kimmeridge oil discovery, plus further undrilled Kimmeridge and Portland exploration prospects.

5.   Portland and Kimmeridge oil field in stable oil production

6.   UKOG has a direct 77.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.

7.   OGA consent received for the transfer of operatorship from Europa to UKOG

8.   Significant Portland gas discovery pending appraisal drilling with significant underlying Kimmeridge potential

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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