UK Oil & Gas confirmed today it had more time to drill in two southern England exploration licences, where no work has yet been carried out.
UK Oil & Gas plc reported today that it intended to increase its stake in the Horse Hill exploration licences in Surrey.
The Kimmeridge formation at Brockham in Surrey is unlikely to generate significant volumes of oil because it isn’t mature, investors were told this evening.
Angus Energy has said it is in talks to sell its stake in an oil production licence in Surrey after revealing that a controversial sidetrack well was unlikely to flow commercially without extra stimulation.
Angus Energy announced today it had raised just over £3m in a placing of more than 70 million new shares.
The former chair of Angus Energy breached the share dealing code and will not retake his place on the board, the company has announced.
Egdon Resources’ new well at Biscathorpe, near Louth in Lincolnshire, has failed to encounter the oil formation it was targeting, the company said this afternoon.