Share Prices & Company Research

Market News

16 Apr 2019 | 09:28

UK Oil & Gas acquires Europa, Union Jack stakes in English prospect

UK Oil & Gas said it had agreed to up its interest to 67.5% in an exploration licence in southern England.

The company had agreed to acquire both Europa Oil and Gas and Union Jack Oil's respective 20% and 7.5% interests in the PEDL143 licence.

The total consideration of £300k and £112k to Europa and Union Jack, respectively, would be satisfied through the issue of 35.7m new UK Oil & Gas shares.

The licence contained the significant Portland and Kimmeridge oil prospect, which the company said was a direct geological look-alike to its Horse Hill oil field, situated on-trend some 8 km to the east.

Several smaller prospects of similar size to the nearby Brockham Portland oil field had also been identified.

At 9:28am:

(LON:EOG) Europa Oil Gas Holdings PLC share price was -0.05p at 2.8p

(LON:UJO) Union Jack Oil Plc share price was 0p at 0.1p

(LON:UKOG) UK Oil Gas Investments Plc share price was -0.01p at 1.13p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.