Source - Alliance News

UK Oil & Gas PLC - London-based oil and gas company focused on operations in the UK - Says it is preparing to transport its wholly owned casing stocks to Turkey for use in the forthcoming Basur-3 mechanical sidetrack at the Basur-Resan licence in southern Turkey. Drilling of Basur-3 is scheduled to commence following the interpretation of seismic processing results. These results are currently expected within the first quarter of 2022. UK Oil & Gas explains that the use of its own casing at Basur-3 will reduce the company’s net drilling cost and capital expenditure requirements, as well as removing further storage costs.

Current stock price: £0.10, up 3.5% in London

12-month change: down 21%

Copyright 2022 Alliance News Limited. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

UK Oil & Gas PLC (UKOG)

-0.00p (-3.49%)
delayed 15:57PM