viewUK Oil & Gas PLC

UKOG completes acquisition of additional Horse Hill stake

It takes UKOG's stake in the HHDL unit to 49.9%, meaning it now has a 32.435% interest in the underlying Horse Hill project

Onshore oil drilling
Horse Hill's potential was confirmed by breakthrough well success last year

UK Oil & Gas Investments PLC (LON:UKOG) told investors it has now completed its deal to acquire an additional 1.9% of the Horse Hill Developments Ltd (HHDL) vehicle from Regency Mines PLC (LON:RGM).

The transaction, first announced in early July, sees UKOG’s underlying beneficial interest in Weald Basin licences PEDL137 and PEDL246, which together host the Horse Hill oil project, increase up to 32.435%.

READ: UKOG shares trade positively on Broadford Bridge side-track news

UKOG paid £323,000 for the stake, comprising £54,498 in cash and £268,502 in new shares.

The HHDL vehicle holds 65% of Horse Hill, and following the Regency Mines transaction UKOG will own 49.9% of the unit. Magellan Petroleum owns the other 35% of the Horse Hill licences.


Quick facts: UK Oil & Gas PLC

Price: 0.65 GBX

Market: AIM
Market Cap: £48.06 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Castillo Copper's Ged Hall updates on key assets and progress on London dual...

Ged Hall works with London stockbroker SI Capital and is also a non-exec director at Castillo Copper Ltd's (ASX:CCZ). He discusses how the two came to work together as well as updates on what Castillo's doing as far as the Mt Oxide project in Queensland, Australia. 

1 day, 6 hours ago

2 min read